It sounds like a dream come true: Get your MBA and have someone else pay for it. There are many companies that will be willing to help you finance your degree. A few corporations may be willing to help pay for a full-time program, but it is more likely that an employer will help with a part-time or executive program.

Before you make arrangements for your employer to help finance your degree, make sure you have thought about what you plan to do with the degree and what your employer's expectations are. There will usually be some conditions you have to meet if your company helps pay for your degree. Some companies will expect you to pay them back if you leave after completing the degree. Some schools will not allow you to use their placement services if you are sponsored by your employer. Employer sponsorship can be a great job benefit, but you should understand the implications before deciding this is the way to go.

You should be sure to consider the long-term impact of your decision to accept employer sponsorship if it will limit your options with regard to the schools you can select. Yes, is it true you might have to incur some debt if you choose to attend school full time, but if the school is a better fit with what you want from an MBA, this might be the best decision.

Some corporations will reimburse tuition only, whereas others will pay for the entire cost of your education. Sometimes an employer will pay for each course you complete with a certain grade, or the company may pay for your student loans. Talk to the human resources department to see if your company has an educational sponsorship program.