A Master of Business Administration (MBA) offers the potential for a positive and long-term return on a significant financial investment. However, with full-time, on-campus MBA students requiring a financial investment, prospective students should explore MBA financing options in the UAE.
In 2024, an estimated 250,000 executives, managers, entrepreneurs will participate in an MBA-level education program globally, providing evidence that even though the financial commitment of an MBA can be a challenge, the projected return makes this a compelling investment.
The following are potential funding avenues for MBA candidates that are considering an education in the UAE.
Employer Sponsorship
Although some MBA students join a program directly after completing their undergraduate studies, others have post-bachelor’s professional experience in industry.
MBA applicants who are currently working can make promising candidates for employer sponsorship. This is particularly relevant if a valued employee’s further education is likely to augment performance or prepare them for a future leadership position.
MBA Scholarships in the UAE
Some universities that offer MBA programs in the UAE also offer competitive scholarships based on merit. Eligible applicants are considered for these merit-based scholarships as part of the admissions process, with funding decisions typically made at the time of admission. MBA applicants should also explore external funding options as well, such as the ABANA Fellowship, or use scholarship search tools such as IEFA to identify other awards.
Education Loans
When local and international students are unable to secure MBA funding in the UAE, educational loans from local banks can offer the funding solution needed. Many banks and lending institutions offer loans to cover higher education fees, living costs, and study materials, in some cases for up to 100 percent of expenses – dependent upon eligibility.
Personal Savings and Investments
Most professionals save specifically to participate in an MBA program, and can access dedicated savings and/or investments to fund an MBA in the UAE. Family networks may also support program financing.
Conclusion
Financing an MBA in the UAE requires careful planning. A proactive approach to program scholarships, employer sponsorship, educational loans, and personal savings must be taken so that MBA plans can become an affordable reality.