How to Fund an Online MBA

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Deciding to study an MBA is a big step in your career — and it’s also a big step financially.

Here are some tips and links to more in depth guides on ways to fund an MBA and help with the business school fees.

Overview of Funding Options for Online MBAs in the UK

You have a few options if you’re looking at how to fund an online MBA in the UK. These options include:

  • Sponsorship – If you’re looking to step into a leadership role, or take the next step from your existing leadership role within your current organisation, a sponsorship from your employer could be a good option to help you fund your MBA studies.
  • Scholarship – Some UK universities offer scholarships into their MBA programmes, where they will fund all or part of your tuition fees. Scholarships can be awarded based on a range of factors, such as academic merit, performance in extracurricular activities, equal access and disability.
  • Government loans – Some governments around the world offer student loans if you’re pursuing postgraduate studies. A government loan can help you cover your upfront tuition fees so you can study an MBA now and pay back the loan later. 

Scholarships and Grants for UK Online MBA Programs

Navigating grants and scholarships for online MBAs in the UK can seem daunting at first. But there are online resources you can use to help take the hassle out of finding the right MBA grants and scholarships in the UK.

You can also visit the websites of the specific UK universities you’re interested in to see what grants and scholarships they may offer.

If you’re eligible, you can enter our UK Study Online Scholarship Draw to win a scholarship that will go towards your online MBA tuition fees.

Student Loans for UK Online MBAs

If you’re a UK resident, you can apply for a specific Master’s Loan as financial aid for UK online MBAs.

A Master’s Loan is a type of government student loan that can be used to cover your tuition fees while you’re studying a UK online MBA. It’s a lower risk option for financial aid to cover your course fees compared to a bank loan.

In 2025, the UK government will also be rolling out a lifelong loan entitlement, designed to encourage UK residents to further their education, upskill or retrain at any stage of their careers. This entitlement will mean if you’re over 18, you can access the equivalent of around 4 years’ funding towards your tuition fees.

Employer Sponsorship: How to Get Your MBA Funded by Your Employer

As we outlined earlier, employer sponsorship is a good option if you’re looking for help to fund your online MBA.

Securing employer sponsorship for an MBA doesn’t need to be difficult or daunting. If your employer is pleased with your performance and wants to retain you for the long-term and help promote your growth within their organisation, they will often be willing to help in getting your MBA funded.

You can see our guide on how to secure employer sponsorship for your MBA studies

Commercial Loans for an MBA

Borrowing money via a commercial loan for an MBA is another loan option to help fund your MBA studies if you’re not eligible for a government loan.

Applying for a bank loan to cover your MBA studies means you’ll need to carefully consider several factors first. Here’s a guide to help you understand bank loans for online master’s degrees.

Budgeting and Cost Management for Online MBA Students

Whatever your source of funding for your online MBA studies, it’s important that you plan your funding around your chosen online MBA’s payment plan dates to ensure you don’t miss a payment deadline.

Budgeting for an online MBA and making sure your loan or scholarship funds are paid to your chosen university well before the programme payment due dates will help you to manage costs for your MBA and stay on top of your payments.

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