Five FAQ on Financing an Executive MBA
by Paul Dodds, Assistant Director of EMBA Financial Aid
Considering applying to the Executive MBA Program but want to understand how to finance your studies? We’ve seen many students weigh the options of pursuing a mid-career MBA, and our Admissions & Financial Aid Team helps individuals like you do the same both before and after you apply. Time and again, our students praise not only the return on investment that the Kellogg EMBA Program gave them, but also the return on experience: the immediate benefits of a community-minded global network of peers and leaders, along with the prestige that comes from a top-ranked institution like Kellogg.
That said, we understand that an Executive MBA is a significant financial investment and we are here to help you understand your funding options. A few tips to keep in mind:
Apply for the program first — and apply early. We offer rolling admissions. In each class, there are a limited number of seats and our admissions team handpicks students for optimal diversity of experience and expertise. Getting your application in early may help you stand out.
Apply for financial aid upon acceptance. For full consideration, admitted students should submit all financial aid applications in a timely manner in order to secure adequate funding prior to the program’s start date. More details below.
Contact us for guidance. We understand that questions arise as you navigate options for funding your degree. Know that we’re here to assist you. You can email us or call: 847.467.1769. You can also refer to Kellogg’s COVID-19 FAQ page for the latest information on program updates.
Though we always encourage you to get in touch with us, we thought you might benefit from seeing what others are asking. Without further ado:
The top five FAQ we receive on financing an Executive MBA:
What’s included in tuition?
Kellogg’s Executive MBA program tuition includes courses, accommodations, meals and snacks, as well as your books and materials.
If you do not reside in Evanston or in Miami, you may also incur travel costs in order to attend the weekend courses. The Financial Aid Office will be able to help you with additional loan assistance for this expense based on what is allowed in the budget for transportation.
In addition, if you decide to enroll in a Global Initiatives in Management course, or any of the Global Electives courses, we do allow students to borrow additional loan assistance to help cover the travel expenses.
How do most students finance their executive MBAs, and what options are available to me?
Most students finance their studies using one, or a combination of, these options:
- Partial financial sponsorship
- Federal and private loans
- Veteran benefits
Many EMBA students take advantage of loans to help fund their degrees. Financial aid is available to Executive MBA Program students through federal and/or private loans. Only U.S. citizens and permanent residents are eligible for educational loans through U.S. federal programs.
What financial aid options are available to international students?
International students may choose to take advantage of Private Education Loans, which are credit-based loans through banks, credit unions, or private agencies and generally have variable interest rates. Before moving forward with one of these options, students should investigate these sources of financial support cautiously and thoroughly. For information on loans which may be available to Non-U.S. Citizens or Permanent Residents, visit our International Students page.
How do I apply for financial aid?
If you are interested in applying for financial aid loan assistance, please complete all financial aid application materials:
- Admitted students will find the Kellogg Financial Aid Application on CAESAR, the Northwestern University portal for students. All students should complete this form regardless of citizenship.
- U.S. Citizens and permanent residents will also need to complete the free application for federal student aid, also known as the FAFSA which is available through studentaid.gov.
Once the completed application materials are received by the financial aid office, we will review and determine your eligibility for financial aid loan assistance. We will email you information for viewing your electronic notification letter online though CAESAR; the platform will allow you to accept, reduce or decline any loan assistance.
Once you have accepted any loan offers, and you have completed the necessary steps included in the notification letter, your loan funds will disburse to your student account shortly before classes begin.
Does Kellogg offer scholarships?
In order to make the cost of education more manageable, the Executive MBA Program offers limited scholarships and fellowships to admitted students each year. Please note that admitted students are required to complete an application for scholarship consideration. Explore the types of scholarships available and consider outside scholarship sources listed as well.