In the previous part, we’ve talked about how much a master’s degree would cost. There are a lot of factors that may influence the cost of getting that master’s degree you have always wanted to pursue, including the length of the program and the degree you’re taking.
While there are straightforward ways to save on your master’s degree, such as choosing an online MBA degree instead of attending offline classes, it is also easy to save on other expenses as a graduate student. These next saving tips will help you lower the cost of your master’s degree even more.
Stick with Digital Books
One of the advantages of pursuing your master in business administration online is the wealth of course materials and books you will get on the online learning platform. At the beginning of each semester, you will be able to access syllabuses, course materials and supporting documents for the course.
Of course, you still need to get relevant books to support your study. Sticking with digital books can help you lower your textbook costs by as much as 80%. You can even pick up an eBook reader to make studying more convenient and comfortable.
Take Advantage of Student Discounts
As a graduate student, you qualify for the student discounts available from top retailers, service providers and brands. When you need to pick up a new MacBook, for instance, your status as a graduate student qualifies you for Apple’s student discount.
The same goes for other items. The latest fashion pieces, makeup and various other beauty products usually come with special offers for students. Even movie theatres and travel sites offer special discounts for students. Why not take advantage of these offers and save on your other expenses, too?
Use Student Loans Wisely
Student loans can help get you through graduate school without a problem, but that doesn’t mean you can take out any student loan you come across. It is still important to be wise about the loans you’re using.
Take the time to compare student loans before deciding to use the most affordable one you can find. Don’t forget to check the fee structure and the terms of the loan before signing. You can actually save a lot just by asking for a discount on the interest rate.
Apply for Scholarships
Never think you’re not good enough to qualify for a scholarship. There is actually a program for everyone and there is no harm in taking the time to apply for the best ones you can find. You can even find information on available scholarships from the university directly.
The Northeastern University promotes available scholarships for its online business school students, allowing students to quickly find the right ones to apply for. Other universities are doing the same thing and working with foundations and corporations to provide students with more scholarship opportunities.
With the right scholarship, you can actually complete the online MBA degree – or any other degree you’re pursuing – without breaking the bank. You’ll finish the graduate school with good financial standing and can continue working towards a better future.