Ways to finance your international master's degree
Publication

How to finance your international master's degree?

April 18 2022
Maria Fernanda Vargas Cordova

You are ready to take the next step in your professional career, you love the program and you think this is the perfect time to do it... But, there is a subject that you still do not dare to review: financing.

Although, the number of an international master's degree can be challenging and puts you face to face with important considerations: How am I going to finance such a large debt? Am I doing the right thing? Why not choose something cheaper?, it cannot be the brake to achieve your goals. 

Paul Juárez, full-time director of recruitment for our master's degrees, reveals that the most important question when thinking about this type of investment is Where am I going? Whether you are looking for a career change, a good position in a multinational, start your own business or take a better stake in the family business, it is essential to have a clear vision of what you want to achieve. 

In the advice that we provide to candidates for our full-time programs, we analyze their professional profile, provide them with resources so that they can calculate the return on investment, and help them come up with a scheme where they can establish the ways to finance the international master's degree

This consultancy is a starting point to learn about the impact that this great bet has on your income and how it can be the door to a better future.

6 financing alternatives

El Financing of an international master's degree having a global impact is a matter of much ingenuity and creativity. We leave you the 6 most common ways to cover a study investment that we have identified in our graduates:

  1. Own funds: In this alternative you can consider your savings, labor settlements that the company gives you when you resign, assets that can be liquidated, such as a car, real estate or perhaps other income that you have and that you can receive during the program, such as the rent of a property. .
  2. Family Funds: Financial support from relatives (parents, uncles, grandparents). At this point try to be resourceful and propose value propositions to your relatives who may be able to offer you a loan with a low interest rate. 
  3. Bank loans: We recommend you consider: the amount of the loan, the guarantees requested by the bank, the term of the loan, the interest rate, whether it has grace periods or not, and the penalties.
  4. Scholarships from external institutions: In different countries there are organizations that offer loans or financial support for higher studies abroad. Research the options available in your country.
  5.  Crowdfunding and company sponsorship: The first is a novel alternative in which you invite other people to donate to your cause, through the platforms; works best with smaller funds and when you clearly describe why the aid is going to have a positive impact. In the case of companies, they function as sponsors and support their collaborators with work permits so that they can return after graduating.
  6. INCAE financial support: In the case of studying a master's degree from INCAE, there are financial supports: discounts or scholarships. We have defined calls The majority of support is due to demonstrated economic need, however there are calls defined by specific aspects, you can review the options on the web.

What should you consider in your budget if you go to INCAE?

If you have decided to do your master's degree at the number one school in Latin America, we leave you 3 groups of investments that will help you be clear about what you need to include in your study budget: 

  • Initial payments: In this area you should consider:

Expenses for tuition, apostilles, vaccines, medical insurance, air tickets, immigration procedures and documents necessary to do the MBA.

Study equipment expenses: laptop, tablets or other technological tools.

  • Expenses during the program: Belong to: 

Amounts of living expenses: Additional expenses for food, hygiene and transportation.

Payments to INCAE: Fees to INCAE of the investment of the program you have chosen that include tuition, accommodation, partial meal plan, materials.

In our institution we know that this is not an easy decision, that is why our career advisors provide free and personalized consulting, according to your profile, goals and current financial situation. To access a meeting you just have to fill out the form of the program of your interest.

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