Professional Evening MBA

Boston University offers a number of financial aid programs to help you pay for your graduate education. Although the benefits are immeasurable, business school is a venture that should be planned carefully and strategically. The long-term financial obligation of your graduate education requires budget planning. The School of Management encourages you to begin preparation far in advance of applying.

Now Available – Scholarship Opportunities for Professional Evening MBA Applicants
For those starting the Professional Evening MBA program in fall 2014 or later, we are happy to announce that we will now be offering merit-based scholarships to select candidates.  To learn more about our scholarships, as well as other ways BU helps students finance their MBA, please use the links provided below.

Our purpose is to help you reach your educational goals by assisting and guiding you through your financial aid process. For your convenience, we have a Financing Your MBA guide available.

Tuition

Professional Evening MBA Tuition
Tuition $1,428 per credit
($22,848*)
Fees * $190
Books and Supplies (Estimated) $784
Total Educational Expenses* $23,822
* Tuition and fees are subject to change without notice.

This tuition assumes 16 credits over the course of the 2014-2015 academic year.

Massachusetts law requires all students who carry at least 75 percent of the full-time curriculum to have medical insurance. Students who cannot demonstrate coverage under a qualifying medical insurance plan are required to purchase the University’s student health insurance plan. The cost of BU Medical Insurance for the 2013-2014 academic year was $2,141.

Merit-Based Scholarships

Boston University School of Management now offers merit-based scholarships for select Professional Evening MBA students.  Scholarships are awarded based on a number of factors, including academic performance, professional work experience, leadership and overall profile.  A separate application for scholarship consideration is not needed, and the Admission Committee considers all admitted Professional Evening MBA candidates for scholarship during the admission process.*

Scholarships typically range between $5,000 and $10,000 and are given as one-time, non-refundable awards to be applied toward tuition only.  Awards will be disbursed evenly between the first two semesters (fall and spring only).

*Due to Boston University’s tuition remission benefits, BU employees will not be considered for scholarships to the Professional Evening MBA program
 

Federal Financial Aid

If you are a US citizen or permanent resident, you are eligible to apply for one or all of the following programs:

Federal Direct Stafford Loan

The Federal Direct Stafford Loan Program provides low-interest loans to US citizens pursuing graduate education.

Federal Perkins Loan

The Federal Perkins Loan is a low-interest loan awarded to full-time students who demonstrate the highest financial need.

To apply for federal financial assistance, you must submit the following:

  1. Obtain a PIN (Personal Identification Number) from the Department of Education website. You will need a PIN to complete the FAFSA.
  2. Complete the 2014-2015 Free Application for Federal Student Aid (FAFSA) online. Boston University’s school code is 002130.
  3. Complete the GSM Application for Federal Financial Aid and submit it to the Graduate Programs Office via drop off, mail, fax, or scan and e-mail.

Private Loans

US citizens, permanent residents, and international students can finance business school with private education loans. US citizens and permanent residents who qualify as creditworthy do not require cosigners. International students, however, must apply with a creditworthy US citizen or permanent resident with a US-based address.  For more information about lenders in the rapidly changing loan environment, please visit BU’s Alternative Financing Options website.

Private Scholarships

Many state and private organizations offer scholarships to students who demonstrate academic excellence. The Graduate Programs Office encourages you to apply for all external scholarship opportunities. For your convenience we have included a list of Outside Scholarships.

External Resources

  • Fast Web
    Database of over 1.3 million scholarships, fellowships, and grants
  • FinAid
    Information on scholarships, loans, saving plans, and military aid
  • Scholarships and Grants
    Free US College Scholarships, Grants, Competitions and Awards Resources
  • ScholarshipExperts
    Database of over 2.5 million scholarship awards
  • CollegeBoard
    College Board’s scholarship search from a database of over 2,300 sources
  • CollegeNet
    CollegeNet’s scholarship search
  • GradLoans
    The Student Loan Network provides answers to financial aid questions and links to free scholarship searches
  • The Scholarship Page
    Scholarship search engine
  • AAUW
    American Association of University Women offers awards, grants, scholarships and fellowship opportunities to women
  • Government Finance Officers Association
    Offers accounting, finance and business graduate scholarships
  • The Independent Institute
    Essay contest
  • Collegiate Inventors Competition
    The Competition promotes exploration in invention, science, engineering, technology, and other creative endeavors.
  • TextBookX
    Essay Contest
  • OP Loftbed Scholarship
  • AACE International Competitive Scholarships
    Scholarships to qualified students who are enrolled or planning to participate in an accredited college or university program.
  • Government Grant programs
    *** Cost money for the information
  • Grants for Single Mothers
    Grants for Single Mothers is among the web’s top educational resource focused on helping single moms. Topics include single mom financial aid, scholarship resources, food and housing programs, parenting advice, and related information. The site is maintained by a single mom , Lindsay Blanche, in hopes to help and educate other single moms in need.

Tuition Reimbursement

Companies often provide financial assistance to employees pursuing education to advance their careers. You may want to contact your employer to determine whether you are eligible for tuition reimbursement benefits. Tuition reimbursement will be included in the determination of your federal financial need.

Payment Plans

Part-time students have the option of settling their account by enrolling in one of two deferred payment plans. These payment plans are administered by Boston University Student Accounting Services and enrollment is available online. For enrollment in either plan, an initial payment and a completed online promissory note are due by the semester payment deadline listed below. This initial payment includes any prior balance, 25 percent of the current semester tuition, a $50 Deferred Payment Fee, as well as any additional semester fees. There are two options for completing payment of the deferred 75 percent. Options 1 and 2 have different payment schedules. Students are required to enroll in the payment plan for each semester that they want to participate. Enrollment is available online at Student Link. Click on “Money Matters”, then “Student Account Inquiry”, and select the “Deferred Payment” option. Enrollment in the deferred payment plan must be completed by the semester payment deadline in order to avoid a late payment fee. Please contact Student Accounting Services at 617-353-2264 or visit their website at Student Accounting Services for more information.

Sample Enrollment Deadlines:
Fall Semester: August 5, 2014
(September 15, 2014 for New Students entering in the fall semester)
Spring Semester: December 17, 2014
(January 31, 2015 for New Students entering in the spring semester)

Deferred Payment Plan Option 1:

The Option 1 payment schedule involves three subsequent installments of twenty-five percent each. The semester specific deadlines are listed below. Student Accounting Services reserves the right to assess late fees if you fail to pay on time.

Fall Semester Spring Semester
October 10th (25%)
November 10th (25%)
December 10th (25%)
February 11th (25%)
March 11th (25%)
April 10th (25%)

Deferred Payment Plan Option 2:
The Option 2 payment schedule involves a single installment of seventy-five percent of the remaining balance. The semester specific deadlines are listed below.

Fall Semester Spring Semester
February 11th (75%)
June 10th (75%)

Enrollment in Option 2 requires that students complete authorization on-line for their credit card to be charged for the deferred amount. If payment is not received by the published deadline, the remaining balance will be charged to the credit card. Problems processing the credit card payment may result in the assessment of late fees.

Veterans Benefits

Veterans and military personnel are eligible for educational assistance. If you are interested in taking advantage of this assistance, please contact 1-888-GI-BILL (1-888-442-4551) and speak with a Veterans Benefits Counselor or visit the GI Bill website.

Yellow Ribbon Program

Boston University is proud to participate in the Yellow Ribbon Program, an agreement with the Veterans Administration (VA) to fund tuition expenses that exceed the highest public in-state undergraduate tuition rate. Individuals with active duty service since September 11, 2001, may be eligible for this benefit and can apply online at United States Department of Veterans Affairs. As a 2014-2015 academic year participant in the Post-9/11 GI Bill’s Yellow Ribbon Program (YRP), Boston University will provide 20 students with Yellow Ribbon scholarships on a first-come, first-served basis. The University will contribute up to $2,600 per student per semester (fall, spring, and summer) that will be matched by the Veterans Administration.