Tips on How To Finance Your MBA in Australia

Are you willing to study MBA abroad? If yes, the following post highlights one of the most promising international destinations for MBA aspirants- Australia. Read on to know more about the location, reasons to choose it and scholarships available to fund your education.

Pursuing a Master’s degree in Business Administration (MBA) in Australia is a popular option among students across the globe. Australia is an excellent choice for international students to pursue management courses and learn global business trends. The country has a unique blend of Eastern, Aboriginal and Western influences. This is a place where you can enjoy international dining, explore rain forests, open-air markets, and celebrate diversity.

Why study in Australia?

You can choose any country to pursue an MBA degree as it is globally recognized. However, choosing Australia as your study location offers specific advantages. The country has highest number of foreign students after the UK and the US and is home to several internationally recognized B-schools.

The education scenario is progressive where one can learn management strategies and business acumen. Apart from academic advantages, students can find excellent campus life.

Some of the top reasons to choose Australia for education include:

  • Several globally recognized business colleges are available such as Victoria University, University of Tasmania, and the University of Melbourne.
  • A wide range of MBA programs and electives are offered, including part-time, full-time and Executive MBA
  • MBA programs are much affordable than other study abroad destinations such as the US and UK
  • High quality education system ensures better understanding of global business scenario
  • It is an opportunity to increase career options and earning capabilities
  • A great chance to experience the beautiful landscapes and rich culture

Source: studyinaustralia.gov.au

 

Top Institutes and Cost of Education

There is no dearth of reputed universities and colleges in Australia to pursue higher education. The below chart explains the eligibility and an estimate of the first year fees (in INR):

 

College/University 1st Year Fees (Rs.) Eligibility
Australian Catholic University 13.2 Lacs IELTS, PTE & TOEFL
University of Canberra 14.9 Lacs IELTS
University of New South Wales 29.6 Lacs GMAT, IELTS, TOEFL, PTE & CAE
The University of Melbourne 41.7 Lacs GMAT, IELTS, TOEFL, PTE & CAEL
Australian National University 17.6 Lacs GMAT, IELTS, TOEFL & PTE
The University of Newcastle 15.1 Lacs GMAT, IELTS, TOEFL, PTE
Victoria University 13.1 Lacs IELTS, TOEFL, PTE

 

Most of them are public universities, offer accommodation, and scholarship programs to overseas students.

Scholarships/Financial Aid

Now when you have decided your destination and the educational institution, the next big thing is arranging for tuition fees. For international students planning to study abroad, looking for scholarships and other financial aids is important. The universities and colleges in Australia offer several options to help expat students to afford their fees.

Several scholarships and financial aids available to students include:

Scholarships

The Endeavour Awards: The Government of Australia runs this scholarship program for students from Asia-Pacific and the Middle East region. It is a merit-based, competitive and international scholarship that gives emphasis to the professional development, research and career of the students. A specific number of the Endeavour Award is also open to American and European students.

Australian Development Scholarships (ADS): This scholarship program is dedicated to give students from underdeveloped countries to study full-time postgraduate and undergraduate programs in Australia.

Australian Leadership Awards (ALA): This scholarship is particularly for postgraduate students to allow them to study specialized research. Students getting ALA scholarship are required to return to their country for minimum two years after the completion of their educational program.

These scholarships cover a wide range of fields such as rural development, education, human rights, economic growth, and environmental issues. Many scholarship programs help students in paying their educational, living and travel expenses. Various educational institutions and charitable organizations also offer scholarships for international students.

[adsenseyu2]

Financial Aid

Several countries offer financial aids supported by their government. International students willing to study in Australia may easily use these government supported financial aids. However, the aid should be granted and applied for the home country.

Some general requirements for financial aid approval:

  • Satisfactory academic record
  • Properly demonstrated financial need
  • Eligible non-citizen or citizen of the country
  • No default or other federal loan

It is wise to consult a study abroad adviser to ensure that any granted federal aid can be transferred to the desired international study program in Australia.

Australia has at least 5 out of the 30 most popular cities in the world for international students in terms of employer activity, quality of life, student mix and affordability. Moreover, with $200 million contributed by the Australian government for international scholarships every year, funding your higher education is not a herculean task for students and their parents.

So, be ready to invest for your future by pursuing MBA in Australia.

Author bio:

Swati Srivastava is an avid writer and blogger who loves to share her knowledge and ideas on a wide range of educational and career related topics. Her articles are published on various reputed websites like Shiksha.com. Follow her on Google+

For more inquiries about admissions and visas to study abroad, send an email enquiries@study-domain.com or call: +2347037293057, +2348125835476

Be generous, share this...Share on Facebook0Tweet about this on Twitter0Share on Google+0Share on LinkedIn0Digg thisEmail this to someonePrint this pageShare on StumbleUpon0Pin on Pinterest0

Comments

comments

Leave a Reply

Your email address will not be published. Required fields are marked *