Financing Your MBA at Michigan Ross: Smart Strategies for Future Leaders

We understand that pursuing an MBA is a significant investment, and many students have questions about how to best finance their education. To help guide you through this important process, we’ve invited Mershawn Gayden, Michigan Ross assistant director, financial aid, to share some practical tips and expert financial aid advice.

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Pursuing an MBA at the Ross School of Business is an investment in your future — one that opens doors to world-class faculty, a powerful alumni network, and career opportunities across industries. But like any major investment, financing your MBA requires thoughtful planning.

Understand the Full Cost of Attendance

Before exploring funding options, get a clear picture of what you’re financing.

At Ross, your total cost includes:

• Tuition and mandatory fees
• Books, course materials, and technology

Pro tip: Ross publishes an estimated cost of attendance — use it as a baseline, then customize it based on your lifestyle and family situation.

Keep in Mind Scholarship Considerations  

Key things to know: 

• All applicants to the Part-Time MBA programs at Michigan Ross are considered for a merit based scholarship.
• Your application to the program is also your application for scholarship, no other application is needed. If admitted and awarded a scholarship, you would be told at the same time.
• Scholarships are in the $4,000 to $16,000 range total. 

Explore External Scholarships Early

Don’t stop with Ross-funded aid. Many students reduce debt by stacking external scholarships, such as:

• Industry-specific fellowships
• Diversity and inclusion scholarships
• Employer-sponsored awards
• Nonprofit and foundation grants 

Start researching 6–12 months before enrollment, as deadlines often come early.
 

Use Federal and Private Loans Strategically

Most Ross MBA students rely on a combination of loans—and that’s okay when done wisely.

Federal Loans

• Offer fixed interest rates and income-driven repayment options
• Federal Direct Loans Updates
• May qualify for Public Service Loan Forgiveness 

Private Loans

• Can offer lower rates depending on credit history
• Often requires a strong credit profile or cosigner
• Private Loans

Tip: Borrow only what you need each term and reassess annually.

Consider Employer Sponsorship or Reimbursement

Some students arrive at Ross with partial or full employer sponsorship, while others secure reimbursement after graduation.

Ask your employer:

• Will they cover tuition and fees?
• Company Sponsorship

Think ROI, Not Just Cost

Consider long-term career outcomes and post-MBA earnings for a true return on investment when evaluating financing options. 

Ross graduates commonly experience: 

• Consulting, tech, finance, and general management roles
• Competitive starting salaries and signing bonuses
• Strong long-term career mobility

Talk to Ross Financial Aid and Current Students

One of our strengths at Michigan Ross is our collaborative culture.

Take advantage of:

• One-on-one financial aid advising
• Peer insights from second-year students
• Club leaders who’ve navigated similar funding paths

You don’t have to figure this out alone.

Financing your MBA at Michigan Ross is a big decision — but with the right strategy, it’s a manageable and worthwhile investment. By combining potential scholarships, smart borrowing, disciplined budgeting, and strong career planning, you can focus less on finances and more on becoming the leader Ross prepares you to be.

Go Blue!