Funding an MBA

MBAs come with a large price tag, but with the right approach and resources, you can find a funding solution that works for you

The cost of tuition varies depending on the university and programme you choose. For instance, you can expect to pay £11,640 for an MBA at Ulster University, while an MBA at the University of Oxford's Saïd Business School can set you back as much as £78,510.

Find out more about how much an MBA costs.

Part-time study while working

Pursuing your MBA while working parttime is a popular option, but it can be tough to juggle both commitments. Securing your employer's support is essential for taking time off for exams and study periods. To learn how to handle your workload, check out tips for balancing work and study.

If you opt for this path, keep in mind that the MBA could take up to two years to complete, which might make it challenging to fully dedicate yourself to the course.

To see what's available, search part-time MBAs, online or distance learning MBAs.

Employer sponsorship

Most MBA programmes require three years of experience, so you'll likely be working in a relevant field when you apply. This is a great opportunity to take advantage of your position and explore sponsorship options with your employer.

To successfully present a case for sponsorship to your employer, be ready to show how getting an MBA aligns with your career goals as well as the needs of your company. Additionally, explain how you plan to handle your current workload while pursuing your degree. Keep in mind that companies are more likely to support employees who commit to staying with them for a few years after completing their studies.

Although sponsorship may be less common for new employees or those in entry-level positions, it's still a good idea to talk with your manager about your ambitions. Open communication can set you up for future opportunities.

Learn more about employer sponsorship.

Postgraduate loans

Government funding for postgraduate study is only accessible to UK students who live in England. For the academic year 2024/25, the loan amount is £12,471, regardless of your course's total cost.

It's important to apply for the loan early to secure the funding. After graduating, you will repay the loan once your income exceeds £21,000, at a rate of 6%. To learn more, see postgraduate loans in England.

Different regulations and eligibility requirements apply to postgraduate loans in Wales, Scotland and Northern Ireland.

Scholarships and bursaries

Many universities provide financial assistance to students through scholarships and bursaries, which you don't need to repay. These awards vary depending on the university and may be given to alumni, academically outstanding students, or those who contribute to diversity.

Some universities, such as London Business School, automatically consider all applicants for their scholarships and grants. However, others require a separate application where you'll explain why you are a strong candidate for the award. With limited funding and high competition, a well-crafted application with convincing reasons for extra funding is essential in order to stand out.

For example, Warwick Business School (WBS) offers the Change Makers' Scholarship for students who challenge the status quo. To apply, you'll need to write a 300-500 word essay demonstrating how you embody WBS's CORE principles: curiosity, openness, restlessness, and excellence.

Learn more about scholarships and bursaries.

Find out more

• Read up on funding postgraduate study.
• Explore MBA courses.