Getting a Master's degree abroad?

Getting a Master's degree abroad?
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#1

Hi Everyone,

I really want to study abroad to London and get my Master’s degree but I’m not sure if it’s a financially smart decision. Since I’m a first-gen student, I’m not sure what the process for going to graduate school even looks like or if it’s a worthy investment.

I know that in many ways an MBA in London would be cheaper than in the US and I’d be living in London. I’m very on the fence.

Any advice would be helpful!


#2

Welcome to the community, @misslexijohnson! It’s great that you’re taking a measured approach to continuing your education.

The best thing you can do is consider the return on your investment in an MBA. To get to that, you’d want to calculate:

  • How much you might have to borrow/repay for school/living expenses (the average MBA student debt is $66,000, including undergrad loans).
  • How much more you expect to earn post-grad thanks to the MBA (this will depend on your speciality and where you are in your career, among other factors).
  • How much salary you’ll give up by going to school, assuming you’re leaving work.

Those numbers all depend on many variables, including which school you attend.

If you’re eyeing a specific program in London, reach out and ask for their cost of attendance and outcome info (job placement, salary stats, etc.) to get a better picture of what you might be able to expect. Check that they’ll accept federal financial aid as well, if you’re planning to finance the degree.

Hope this helps! Here’s some additional info on how to pay for MBA programs, if you decide this makes sense for you: