London School of International Business (LSIB)

Can the Kellogg 1 year MBA cost be covered by student loans?

Many prospective students considering the Kellogg 1 year MBA program often wonder if the cost can be covered by student loans. The short answer is yes, student loans can be used to cover the cost of the Kellogg 1 year MBA program. However, there are a few things to keep in mind when it comes to financing your education.

First and foremost, it's important to understand the total cost of the program. The Kellogg 1 year MBA program tuition for the 2021-2022 academic year is $107,000. This does not include additional expenses such as books, housing, and other fees. When factoring in these additional costs, the total cost of attendance can be upwards of $150,000.

Now, let's talk about student loans. Kellogg does participate in the federal student loan program, which means that students can apply for federal student loans to help cover the cost of their education. Federal student loans typically offer lower interest rates and more flexible repayment options compared to private loans.

In addition to federal student loans, students can also explore private student loan options. Private student loans are offered by banks, credit unions, and other financial institutions. These loans can be used to cover the remaining cost of attendance after federal loans have been applied.

It's important to note that taking out student loans is a serious financial commitment. Before deciding to take out loans to finance your education, it's crucial to carefully consider your financial situation and future earning potential. Make sure to research and compare different loan options to find the best fit for your needs.

Another important factor to consider is the potential return on investment of obtaining an MBA from Kellogg. Kellogg graduates typically see a significant increase in their earning potential after completing the program. This increase in salary can help graduates repay their student loans more easily.

In conclusion, yes, the Kellogg 1 year MBA cost can be covered by student loans. However, it's essential to carefully consider the total cost of attendance, explore different loan options, and weigh the potential return on investment before making a decision. With proper planning and research, financing your Kellogg MBA education with student loans can be a viable option.