The Value of the Midland MBA: Financial and Beyond

value of midland mba
Saturday, December 28, 2013

Students often intrinsically understand the financial value of an MBA, as the degree has always been a valuable investment in your career and earning potential. Even through the financial crisis, the value of an MBA remained high. GMAC’s 2009 survey, at the height of the global recession, showed that employers paid a premium for MBAs they hired.

Here in Nebraska, job outlook is especially promising. In October of 2013—the most recent statistics from the state—Nebraska’s seasonally adjusted unemployment rate was 3.9%, significantly lower than the national average of 7.3%.

Today, recent MBA graduates continue to command higher salaries and job opportunities. The 2013 GMAC survey notes that “MBA graduates continue to command higher starting salaries compared with other master’s graduates in the United States,” with a median base salary of $95,000, up from $90,000 in 2012—a salary premium of $43,000 over bachelor’s degree holders, up from an average of $40,000 over the last six years. 

In fact, the benefits of an MBA span far beyond increased salary. Many graduates of MBA programs from around the country cite networking, insight into future career paths, and even increased patience and persistence as additional benefits of attaining an MBA.

As you might have guessed, the story is not all upside, however. It takes effort and resources to earn an MBA. Obviously, part of these costs come from tuition, but as we discussed in our last blog post, the type of program you choose can have a big impact on the opportunity cost associated with earning your degree.

Midland’s hybrid program was designed to reduce that opportunity cost by creating a schedule designed for working professionals, and structuring the in-person and on-line components of the program to reach a “best-of-both-worlds” balance.

While the Midland MBA is much more affordable than other major executive MBA programs in the area, we recognize that the up-front investment in an MBA will require financial assistance for most students. This financial aid comes down to two main sources: scholarships, and student loans. To help students understand how they can afford their MBA at Midland, we go into detail on both below.

Scholarships

Thanks to the ongoing generosity of Midland University donors, the Midland MBA program is able to offer extensive scholarship opportunities for the MBA class beginning in the summer of 2014. These include:

    • A graduation grant covering 100% of tuition for the final term of the program (worth $5,000)
    • A $3,000 scholarship and a $500 Amazon gift card for students who apply in round 1. The deadline for these applications is February 15th, 2014.

This $8,000 in scholarships and $500 in books is guaranteed for all students who apply before February 15th!

Student Loans

Graduate students are also eligible for federal student loans. This process is much more straightforward than applying and qualifying for undergraduate student loans.

    • Unlike undergraduate loans, graduate school loans are not income-based. Eligible students may borrow up to $20,500 per academic year. This non-income-based loan system is the most significant difference between graduate and undergraduate student aid.
    • 97% of our students have been eligible for the full $20,500 per academic year in loans which, when combined with the scholarships offered by Midland, covers the full cost of the MBA program.

The process itself of applying for student loans is fairly simple. Applicants must first fill out the FAFSA at fafsa.ed.gov, using Midland’s code (002553). This will use your tax information from the past year, and can be submitted any time after January 1, 2014. Once Midland receives your FAFSA, we will officially award you your scholarships and any student loans you wish to take out. 

All students who apply to the Midland MBA program will receive a letter detailing financial aid information after an admissions decision has been made.

We understand that the decision to earn your MBA represents a serious investment of time and money. At the same time, we are confident in the value of a Masters in Business Administration—especially here in Nebraska—and in the prospects of our students who graduate from out program.

If you would like more information about financial aid as it relates to the Midland MBA, please contact us directly in the comments, through Twitter @MidlandMBA, or by phone at 402-941-6517. We can answer more specific questions both about student loans and about the scholarships we offer, so feel free to reach out with any questions or concerns.

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photo credit: UHEAA

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