Financing INSEAD MBA

INSEAD Tuition Fee is Euro 50000. I am budgeting for additional Euro 25000 for the year and I hope it is enough. The biggest cost component will be the rentals. Singapore rentals around INSEAD is anything but steep.

Financing options in general include:

- Savings
- Educational loans (Most need a co-signer except Prodigy Finance)
- Scholarships (You can apply for a maximum of 5)
- Borrowing from family

I have some savings but it wont be enough and I certainly need assistance. I have applied for 4 scholarships and am really praying for a positive outcome. Should hear about it by end of September.

For educational loan, I dont qualify for it. I have never worked in my home country so dont have any credit history. I do have properties for collateral but again I have been told that having never worked in my home country, I wont get through the documentation stage. I dont have citizenships of the countries I have worked in so again, I dont frigging qualify. I checked with Prodigy Finance, which is a brilliant concept started by INSEAD grads, but they dont seem to have enough funds to allocate. But I will still apply and hope for the best. Then there is Paras foundation but their decision/ interest rate depends on a million factors. It didnt make sense to me so I skipped it.

Final option is, parents - bank provided by nature. I really dont want to borrow money from them and this will be my last option. Absolute last option.

Its not easy paying for an INSEAD MBA even though it is not the most expensive one out there. For all you potential applicants, start saving as early as possible. I have been working for about 5 years now but started saving only from May 2007. This is when I seriously started considering an MBA. And as you can see, I have not saved enough. So start saving from the very moment MBA flashes in your mind.