Paying for Business School

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Few things in life have a greater payoff than an investment in education. Learn how prospective graduate business school students from around the world plan to pay for their education.

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<ul><li> 1. Paying for Business SchoolFewer Hesitations, Greater Investment from ParentsFinancing Mix, 2009 &amp; 2013RELEASE DATE: SEPTEMBER 2014GRADUATE MANAGEMENT ADMISSION COUNCIL</li></ul> <p> 2. Few things in life have a greater payoff than aninvestment in education in terms of theopportunity it provides to acquire skills, build acareer, boost income, and fulfill personal goals. 2014 Graduate Management Admission Council (GMAC) All rights reserved.Learn more at mba.comQuote from Paying for Business School, a GMAC Data-to-Go (September 2014)Download the brief at gmac.com/datatogo 3. Value of a Graduate Business Degree94%94%Would do it againknowing what theyknowRate degree goodto outstandingvalue 2014 Graduate Management Admission Council (GMAC) All rights reserved.MBA, masters and othergraduate business degreeshold their value over time.79% of business school alumnifrom the classes of 1959-2013worldwide say theirexpectations for the degreesreturn on investment wereexceeded or met.In addition, alumni confirmed:83%Degree essentialfor getting a jobSource: GMAC Alumni Perspectives Survey, 2014 4. Fewer Hesitations About B-SchoolFewer of those considering management education in 2013 hadreservations about pursuing business school compared with peersin 2009, yet cost and potential debt remain top concerns.22%21%18%29%48%45% 2014 Graduate Management Admission Council (GMAC) All rights reserved.53%51%32%26%28%13%Requires more money thanavailable (cost)Requires large financial debtDemands on time/energyLimits time for othersEconomy/job prospects uncertainNo reservations20092013Source: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 5. Worldwide: More Parental SupportSince the height of the Great Recession in 2009, prospects aroundthe world intend to borrow less and rely on parents to contributemore toward their educational investment.Parents20%Employer 2014 Graduate Management Admission Council (GMAC) All rights reserved.Grants &amp;Scholarships21%LoansParents14%Personal 26%funds23%Spouse2%Employer13%Other1%Expectedfinancing,2009Grants &amp;Scholarships18%Loans22%Personalfunds24%Spouse2%12%Other2%Expectedfinancing,2013Source: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 6. Trends in the Financing Mix 2014 Graduate Management Admission Council (GMAC) All rights reserved.From 2009 to 2013,prospective studentaverage financing mixvaries greatly by severalfactors...Filter by citizenship,study destination,program type,gender, and age.Accessible at www.gmac.com/prospectivestudents 7. US Citizens, Domestic FT 2-YR MBAUS citizens considering full-time 2-year MBA programs in the US in2013 expected to tap personal funds, employers and parents formore of the cost, relying less on loans than in 2009.2009 2013 2014 Graduate Management Admission Council (GMAC) All rights reserved.22%36%20%2%10% 11%1%20%31%22%2%12% 12%2%Grants Loans PersonalfundsSpouse Employer Parents OtherSource: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 8. Chinese Citizens, Master of Finance AbroadIn 2013, Chinese citizens considering master of finance programsabroad expected grants and scholarships to cover less of the costthan their 2009 peers, and for parents to contribute more towardtheir educational investment to make up the difference. 2014 Graduate Management Admission Council (GMAC) All rights reserved.4%3%53%3%19%6%13%3%2%40%3%19%8%26%Grants/ScholarshipsLoansPersonal fundsSpouseEmployerParentsOther2009 2013Source: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 9. Indians, FT 2-YR MBA AbroadIndian citizens considering full-time 2-year MBA programs abroad in2013 depended heavily on loans but expected support from parents tomake up for a loss in grants or scholarships as compared with 2009.2009 2013 2014 Graduate Management Admission Council (GMAC) All rights reserved.29%36%16%2% 3%13%1%25%35%15%2% 3%19%2%Grants Loans PersonalfundsSpouse Employer Parents OtherSource: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 10. Canadians, Domestic FT 1-YR MBAIn 2013, Canadian citizens considering full-time 1-year MBAprograms in Canada expected to pay less of the cost from personalfunds than their 2009 peers.2009 2013 2014 Graduate Management Admission Council (GMAC) All rights reserved.11%27%42%3%6%10%1%14%28%35%3% 8%12%1%Grants Loans PersonalfundsSpouse Employer Parents OtherSource: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 11. Europeans, Full-Time 1-YR MBAIn 2013, European citizens considering full-time 1-year MBAs expectless of the cost to be covered by grants/scholarships, and moreinvestment from parents to meet costs than those in 2009. 2014 Graduate Management Admission Council (GMAC) All rights reserved.21%18%32%6%2%19%1%Grants17%Loans19%Personal funds32%EmployerSpouse2%6%Parents22%Other2%20092013Source: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 12. Latin Americans, Full-Time 2-YR MBAIn 2013, Latin American citizens considering full-time 2-year MBAsprograms expected less funding to come from grants/scholarships thantheir 2009 peers.2009 2013 2014 Graduate Management Admission Council (GMAC) All rights reserved.28% 28%22%1%5%14%2%22%27%24%2% 6%18%1%Grants Loans PersonalfundsSpouse Employer Parents OtherSource: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 13. Africans, Full-Time 1-YR MBA AbroadAfrican citizens considering full-time 1-year MBAs sought to studyabroad in 2013, and expect grants/scholarships to pay for a largeportion of the funding. Parents are expected to contribute a greatershare toward meeting costs in 2013 than in 2009.2009 2013 2014 Graduate Management Admission Council (GMAC) All rights reserved.43%13%26%2% 3%12%2%40%9%22%2% 6%18%3%Grants Loans PersonalfundsSpouse Employer Parents OtherSource: GMAC mba.com Prospective Students Survey, 2009 &amp; 2013 14. About the SurveyThe mba.com Prospective Students Survey looks at theintentions, motivations, and decision-making process ofthose considering graduate management educationaround the world.Each year, more than 12,000 prospective students aresurveyed three months after they have registered onmba.com, the global portal for graduate managementeducation run by the Graduate Management AdmissionCouncil, the nonprofit organization that conducts the GMATexam on behalf of graduate business and managementprograms worldwide. For a copy of the mba.com ProspectiveStudents Survey report and access to a funding interactivereport, go to gmac.com/prospectivestudents.For more information on the Value of the MBA in 3D, go togmac.com/newscenter. 2014 Graduate Management Admission Council (GMAC) All rights reserved. 15. GRADUATE MANAGEMENT ADMISSION COUNCILConnecting Talent and Aspiration with OpportunityThe Graduate Management Admission Council is thenot-for profit association of the worlds leading businessschools and the publisher of the GMAT exam, the mostwidely used and respected admissions exam for graduatebusiness and management programs around the world.gmac.com | mba.com | gmat.com </p>