Career Diversity

So you want to go to business school to make some money but you are currently in broke mode. What do you do? You have to hustle; you have to make something out of nothing. Most of us don’t have the power and resources to get our way so we have to make things happen.

1) Find out how much money you owe and what your credit looks like. Get your FICO score and your credit report. You don’t want to get denied loans because you have bad credit.

2) Stop living a balla lifestyle. When you go to business school, you will have to get used to living like a student again. Remember, you will forego an income for 2 years. Start a savings fund so you have something to fall back on and stop buying all the new Jordans. You are too grown for that anyway.

3) Research scholarships. There are so many untapped resources out there that you can access if you commit time and energy. Find out what the criteria is to get a merit-based scholarship so you can focus on making yourself a good candidate for those.

4) Know the financial aid system. Different schools have different ways of assisting students finance their MBA. Make sure you know what the deadlines are for each school and what paperwork is required. Stay organized so you can keep track of everything that is required.

5) Find out if your company is willing to pay a percentage of your tuition or completely sponsor you. Make sure you know the conditions of that sponsorship. You don’t want to consider this option if you hate where you are currently working. You may have to sign your life away to them for an additional X number of years.

6) Budget wisely. A lot of people don’t know how to do this effectively. Make sure you include both the application process and expenses being incurred in business school as a part of that budget.

7) Save money. Not only are you cutting back on spending but you will need some money to fall back on. Even if you receive financial assistance, you will need money for living expenses. Some cities are more expensive to live in than others so make sure you know typical rent and groceries cost. Also, you will no longer have health benefits through your job so you may want to research health insurance options.

7) Be persistent. Know the ins and outs of every resource you can use to finance your education. If you give up too soon, you may lose out on a good opportunity.

8) Take chances. Ask for discounts. Do schools offer fee waivers? Can you get a lower price on your GMAT class?

9) Network. Talk to friends and others who have gone through the business school application process. What was their hustle like? You can learn a lot from listening to others.