The financial impact of obtaining an MBA may very well be the most important thing on your mind. Nonetheless, you should not eliminate a school from consideration on the basis of cost.

The total cost to obtain an MBA varies from school to school and is not derived simply by comparing tuition costs. Loans, scholarships, fellowships, the cost of living, and any lost earnings for the time you are in school all must be factored in. For example, a school with a more expensive tuition may also award more money to qualified candidates. Where you live while in school may also affect your total education cost.

Speak to admissions officers about any financial concerns you have. They can provide information about scholarships, fellowships, teaching assistantships,  work-study programs and other sources of financial aid that may be available at their schools.

The following are some financial aid questions you might want to ask admissions staff:

• What are the typical profiles of candidates who are awarded scholarships? Are scholarships awarded on the basis of test scores, grades, experience, financial need, or some combination of factors?
• What percentage of students is awarded aid? What percentage applies for it?
• When is the best time to apply for financial aid?
• When are award decisions made?
• What is an average financial aid award?
• If financial aid is not awarded prior to enrollment, is there a chance of receiving it later, on the basis of academic performance in the program?
• Are there any other forms of financial help?
• How many hours per week is it reasonable for students in a work-study program to work during school?
• What is the average debt at graduation for students at the school?
• What different requirements or considerations might there be for students who plan to study outside their native countries?

For information about applying for financial aid, visit the section of this Web site called Make Your Decision and see Paying for Your MBA.