Saturday, August 29, 2009

Must read for those planning to study abroad

The general trend is that students aspiring to study abroad tend to apply for programs which they think will positively impact on their future earning potential.
If you are interested in studying for a course apply early because competition for entry to popular programs at good institutions is severe; an early application helps to secure both admit and financial support.’

Tour the tours
The US, UK, France, Italy, Spain, Australia, Singapore and Canada, are ever on the list of those foreign bound. Attending education tours organsied by established agencies will help you gain information on suitable courses, application procedures, admissions criteria, visa requirements and scholarship opportunities.
The world MBA tour is offering an unprecedented US $ 1.1 million in exclusive scholarships for MBA. They are offered to candidates only if they visit the fair in their city of choice. So go for it.
Some factors

A.Work experience: how much?
The average work experience that MBA schools generally look for in prospective students is
Three to four years, although each school has its own standards. Business schools are not faculty- focused; peer to peer interactive learning, case work, projects, presentations all demand strength of experience of the MBA students. People with some real experience can contribute to quality group participative learning. Experience can be in diverse fields and industries, not necessarily managerial.

B.Given the volatility of the dollar, the cost?
For international students this is a concern. But cost, if viewed as ‘return on investment’ will scare you less. There are various ways to fund your business education- loans and scholarships. Schools will take extra care to ensure that the right applicants are absorbed into their courses.

C.The best destination for MBA?
The best study abroad experience can differ form country to country and institution to institution. And your interests, skills, specializations. The best for one student need not be the best for another. Let your personal aims and ambitions guide you in this. Research schools on an individual basis.

D.Education loans: from home country or those on campus?
Both are sought after. Interest rate, pay back time, speed of sanction- are to be considered. The tuition fee is obviously one of the biggest costs. Market rate tuition fees, the current practice, favor students. Other expenses to be taken into account are travel, accommodation, living and compensating for time away from employment. These are not uniform and vary for students form different nationalities.
MBAs will not go out of fashion even during recession times. Most banks know that MBAs are going to be among the highest earners within a short space of time and they can work in most industries. One should not wait until an admissions decision is received to identify outside sources of funding. Keep researching for fellowships and scholarships.

E. Other forms of aid?
Savings from your employment so far, family contributions, institutional scholarships and bursaries from your department of study, assistantships and part-time employment: (teaching / research assistantships are available in many institutions for postgraduate students, who can work up to 20 hours during term time)
*Australia and Canada, allow international students to work up to 20 hours per week during their studies.

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