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Finding the right business school is only the first step toward earning your degree. Once you have decided on a school, you have to start working toward paying for it. Most business schools are located at four year colleges and universities, which means that there are federal funds available to help you cover your tuition while you work toward graduation.

Government Grants

As soon as you are accepted to a college, it is important that you visit the federal financial aid website and complete all of the applications for financial aid. If you qualify, you may find that your entire tuition can be covered by a Pell Grant from the government. These grants are need-based and do not need to be repaid after you finish school. Many students who are entering college for the first time will qualify for at least some tuition assistance from the federal government.

Student Loans

The government also sponsors student loans that are offered through private financial institutions. These loans come in two forms - subsidized and unsubsidized. The subsidized loans carry no interest payments, so the only thing you have to pay back is the exact loan amount. Unsubsidized loans are like normal bank loans and accrue interest over time. The interest rates for student loans tend to be lower than the standard interest rates that most banks charge for regular loans. Both types of loans will have to be repaid once you graduate from college. There are flexible repayment plans available through the government subsidized loan institutions.

Scholarships

There are hundreds of scholarships available for most students who want to attend a business school. Individuals and organizations create scholarship opportunities for several different reasons. Visit your school’s financial aid office to find out which scholarships you would qualify for based on your gender, age, area of study, and involvement in certain groups. There are also academic scholarships available for outstanding students. Most scholarships require an extensive application process, but it is worth the time you invest if the scholarship will cover your tuition and book costs while you attend college. New scholarships are available every semester, so make sure you take advantage of each new scholarship that is offered.

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Q: How to Afford a Good Business School?
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