An MBA is a significant financial commitment, with tuition fees for UK MBA programmes often ranging from £15,000 to over £40,000, depending on the university and study format. On top of tuition, students need to factor in costs such as textbooks, accommodation, travel, and lost earnings if studying full-time. The good news is that there are several funding options available to help reduce the financial burden and make your MBA investment more manageable.
Many UK business schools offer a range of scholarships designed to attract top talent. These include merit-based awards, diversity scholarships, sector-specific funding, and regional grants for international students. Some universities offer automatic consideration for scholarships during the application process, while others may require a separate application with a personal statement or essay.
Scholarships can range from small contributions to full tuition coverage, and can be highly competitive, so it’s worth researching early and tailoring your application accordingly. Keep an eye on deadlines, as some are tied to early admissions rounds.
If you're a UK or EU student, you may be eligible for a Postgraduate Master's Loan through Student Finance England (or the relevant body in Scotland, Wales, or Northern Ireland). For the 2025 intake, the maximum loan is expected to be around £12,000, which can be used to cover tuition or living costs.
While this may not cover the full cost of an MBA, it can form a valuable part of a wider funding strategy. Note that these loans are income-contingent repayments, making them more manageable than traditional commercial loans.
If you’re currently working, it's worth exploring whether your employer will sponsor your MBA, either partially or fully. Many companies offer education benefits, especially if the MBA will enhance your skills in a way that directly benefits the business. In return, employers may expect you to stay for a set period after completing your degree.
It’s important to build a compelling case for how the MBA aligns with your role and long-term contribution. Sponsorship can include tuition, exam fees, time off for study, or even mentoring support from senior staff.
For those who plan to self-fund their MBA, careful financial planning is essential. Consider spreading costs by choosing a part-time or online MBA, which allows you to work while studying. You can also explore interest-free credit options offered by some universities, or pay in instalments to ease the upfront burden.
Setting a savings goal 12–18 months in advance of applying can put you in a stronger financial position and reduce reliance on credit or high-interest borrowing.
International students may be eligible for funding through British Council scholarships. There are also niche funding opportunities from professional bodies, charities, and MBA networks, particularly for underrepresented groups or specific industries.
Platforms like Masters Compare can help you discover MBA programmes that align with your budget, while highlighting funding options available at each institution.
