Taking on debt to finance an MBA program only to take a job at a low-paying nonprofit organization after business school doesn’t add up to graduates being able to repay their loans. Fortunately, many top business schools have created programs to help ease the financial burden for those who go into nonprofit or other low-paying fields, according to a recent report in Bloomberg BusinessWeek.
In addition to Harvard Business School, which this year gave 19 students grants of $50,000 to supplement their first-year salaries, schools including Columbia Business School (CBS), Duke’s Fuqua School of Business, UMichigan’s Ross School of Business, Stanford Graduate School of Business and the University of Pennsylvania’s Wharton School all also offer financial assistance in one form or another to help graduates repay student loans, Bloomberg BW reports. And while many business school students don’t seem to know about these programs, they should: The benefits can extend for multiple years adding up to as much as $100,000 for some, Bloomberg BW adds.
Read more