Broad ranks top in the nation for MBA program value. On average, according to Forbes, our graduates are able to pay back their tuition costs in 3.6 years—faster than any other university in the Big Ten, and the shortest timespan in the nation.
It’s important to budget well for an MBA program and to be a smart buyer. Getting the most for your investment and finding the best overall value are serious considerations. Paired with Broad’s pricing structure and the adjunct cost of lodging, food and travel, you owe it to yourself to take a close look and learn more about our program cost and tuition, available fellowships and scholarships, and financial aid opportunities.
Our focus is always on ensuring that, throughout your entire Broad experience and throughout your career, you maximize return on yourself.
Estimated annual expenses for the 2018–19 academic year are shown below, including tuition and student budget.
For added curriculum flexibility, the Broad MBA program offers a block tuition structure. Students may take up to 18 credits per semester, with a maximum enrollment of 68 credits in the four semesters of the MBA program. Through periodic meetings with the MBA advising team, students choose a mix of required and elective courses to create their ideal degree plan.
For budgeting purposes, you may find actual expenses differ from the amounts shown.
*Approximate amount (all international students are required to have health insurance).
According to Economist rankings of Full-Time MBA programs, the Broad MBA is #1 for percentage increase on pre-MBA salary, three years in a row.
The Broad Full-Time MBA program awards more than $2.6 million in competitive, merit-based fellowships and graduate assistantships each year to first- and second-year MBA students.
About 70 percent of Broad MBA students receive some form of fellowship from the school.
All applicants are automatically considered for fellowships and graduate assistantships. Applicants should apply early in the admissions year to be most competitive. Notification of a fellowship award for incoming students follows an offer of admission. Fellowships typically range from $2,000 to $31,000 per year for two years.
Criteria used to award fellowships and graduate assistantships to entering students include strong standardized test scores, qualified work experience, an excellent undergraduate GPA, and an evaluative interview. Domestic applicants applying without a standardized test (GMAT or GRE) will not be considered for merit-based fellowships.
Quarter-time graduate assistantships are worth approximately $20,000 per year for in-state students and about $38,000 per year for out-of-state and international students.
All graduate assistants receive:
Many private scholarships are available beyond those offered by Broad. Apply early and meet each scholarship’s criteria to improve your chances for being selected as a recipient. Private scholarships often have specific criteria, such as:
We suggest searching for scholarship information on FastWeb. Other scholarship resources include:
As a Forté Sponsor School, we are pleased to offer fellowships to women who are pursuing a full-time MBA. If you would like to be considered for a fellowship, you must submit an MBA application. Amounts of the fellowship vary and candidates will be notified in spring.
Sponsored by the United States Department of State, Bureau of Educational and Cultural Affairs, the Fulbright Program provides funding for students, scholars, teachers and professionals to undertake graduate study, advanced research, university teaching, and teaching in elementary and secondary schools.
The Broad Full-Time MBA program would like to recognize applicants from certain backgrounds that exemplify community service. Applicants who served in organizations listed below (in the last two years) will automatically receive a non-resident tuition waiver. This waiver offers an out-of-state student tuition at in-state student rate. It has a current value of $18,616 per year.
All military veterans and their dependents will receive an automatic non-resident tuition waiver to go through the Full-Time MBA program.
Veterans and other G.I. Bill-eligible prospective students should contact the MSU Office of the Registrar. Applications should be submitted early enough to enable the registrar’s office to process the appropriate form and submit it to the Veterans Administration regional office at least 30 days prior to registration.
The Free Application for Federal Student Aid (FAFSA) is for U.S. citizens or permanent residents. Your student loan eligibility will be determined after you file a FAFSA, which is used nationwide to determine aid eligibility. The FAFSA should be completed in January and is valid for the aid year beginning in the fall.
FAFSA data are sent to MSU electronically and are used to determine your eligibility for financial aid. You must be admitted to MSU before your financial aid will be processed. There are certain aid programs designated by federal, state or institutional policy as being need-based. You must have a need amount equal to or greater than the award amount to receive them.
The MSU Office of Financial Aid recognizes special circumstances that affect the amount you would be expected to contribute to your education, such as loss of employment, divorce, or a reduction in income due to returning to school. Contact our office for a Special Condition Application to review your special circumstance.
Broad participates in the U.S. Department of Education’s Federal Direct Loan Program, which offers low-interest loans to graduate and professional students. Two types of direct federal loans are available.
Grad PLUS loans are available if you need to borrow beyond the maximum of the federal loan amount to cover your education expenses not covered by other financial aid.
In addition to the FAFSA, this program has a separate application, with approval based on a review of your credit history and a loan fee on the borrowed amount with an upfront rebate. Interest begins accruing at disbursement.
Financial aid for Broad students enrolled in the J.D./MBA dual degree program is determined on a special case basis. If you are enrolled in the program, you should contact MSU College of Law Financial Aid at (517) 432-2810 for assistance.
Private education loans are funded by private lending institutions and require a separate loan application. Most lenders make it easy for you to apply and sign up online.
These loans have variable interest rates that are based on your credit history and they accrue interest when funds are borrowed. They are limited to the published total cost of your education as determined by the educational institution, minus any loans or other financial assistance you receive, and they may have borrowing limits that affect the amount you qualify to borrow. Interest payment may be required while enrolled.
Please visit your private lender for more information on loans and application criteria.
International students are not eligible to file a FAFSA or receive federally funded U.S. student loans or need-based financial aid. Domestic loan options for international students are limited to only those with a credit-worthy U.S. citizen cosigner or U.S. permanent resident cosigner. International students who apply for MBA admission are advised to first contact banks in the country of their origin to secure loans.
Offering a loan program for international students with a credit-worthy U.S. citizen cosigner or U.S. permanent resident cosigner, Discover determines your loan rate based on your cosigner’s credit history.
Premier MBA loans are available through Sallie Mae for international students with a credit-worthy U.S. citizen cosigner or U.S. permanent resident cosigner.