Financing your OneMBA may be a challenge. Below you will find a list of general as well as country-specific financial aid possibilities currently available. Since it is impossible to list every opportunity here, we suggest researching financial assistance offered from your own country.
Many of our students approach their companies for support, both financial and in terms of time. To aid in this process you can use our Example OneMBA Business Case, which might be useful as a guide to approaching your own organisation.
Women in Business Scholarships
Committed to increasing the diversity of the OneMBA class, the RSM Erasmus University offers the Women in Business scholarship to two women demonstrating exceptional business leadership potential. The scholarship this year will award a € 10,000 tuition waiver for (maxiumum) two women demonstrating exceptional business leadership potential.
Eligibility
Any female OneMBA applicant who has been accepted onto the Global Executive OneMBA Programme commencing in September 2008 is invited to apply. The awards will be merit based and thus the quality of your scholarship application essay will be the criteria for assessment.
Process
If you would like to be considered for a scholarship please fill out the Women in Business Applicants Agreement and forward it, along with the 2000 word essay and an electronic copy of your CV, to RSM Scholarships Office ( scholarships@rsm.nl). The subject for the essay is determined by RSM academics and can be found by following this link: Scholarship Essay 2008.
If your programme application and interview are successful, your application for the Women in Business Scholarship will be forwarded to the Awards Committee for consideration. The Committee will meet after the application deadline to consider the scholarship applications.
The deadline for Women in Business Scholarship applications is 1 September 2008
General Opportunities
RSM Dean's Fund Assistance Award
Applicants who clearly demonstrate excellence with regards to participation in the OneMBA Programme are accepted by RSM. However, some applicants may face unusual financial challenges and have difficulty financing the cost of the programme. The RSM Dean's Fund Assistance Award has a small number of sponsorships available with a value of up to € 10.000 per sponsorship.
If you wish apply for sponsorship from the Dean's Fund, you are invited to write a letter of motivation to the Dean Post-experience Programmes outlining your particular financial challenges as well as what proceeding with the OneMBA Programme will mean for your future. This should then be sent to the Scholarships Office, scholarships@rsm.nl.
The Scholarships Office will forward your request for financial support to the Awards Committee who will advise the Dean on merits of your application on the basis of the situation and motivation as described.
Company Sponsorship
With the majority of our students getting company support, either in terms of financing or time, approaching your organisation is probably the first place to start. We have a sample Business Case you can download to assist with this.
RSM Erasmus University - ING Bank Loan Programme
Students of the RSM Erasmus University Global Executive MBA Programme who are based in the Netherlands can finance part of their tuition fee through a special loan from the ING Bank.
IDB Scholarship Programme
With funding from the Japanese government, Inter-American Development Bank established a scholarship programme for students from the Bank's borrowing member countries wishing to pursue master's degree-level studies in development-related disciplines. www.iadb.org/int/eng/japan_scholarship.htm.
Country Specific Opportunities
Austria
RSM Erasmus University is a recognised institution for the Post-Graduate Loan Scheme offered to Austrian students by Creditanstalt ( www.ba-ca.com). More financial assistance information available at the Bundesministerium fur Wissenschaft und Forschung. http://www.bmbwk.gv.at/
Italy
Please consult the databank on scholarships at www.noopolis.it/www/index.asp or contact via noopolis@flashnet.it.
Netherlands
OneMBA students based in the Netherlands who are self financing their studies can take advantage of the tax deductible status of education in the Netherlands. Students are able to deduct tuition fees from their taxable income within the Netherlands. This is even available for non-Dutch citizens who pay income tax in the Netherlands under the 30% rule.
OneMBA students are able to claim up to €15,000 every financial year which, given the breakdown of the tuition fees, means that students able to deduct nearly all of their tuition fee’s against their taxable income.
For more information please speak to the Dutch Tax Authority at www.belastingdienst.nl or call them on 0800 05 43.
Norway
Grants and loans can be obtained from the Statens lanekasse for utdanning (Norwegian State Educational Loan Fund). www.lanekassen.no
Portugal
Information on scholarship possibilities under the PRAXIS XXI Programme can be obtained from www.fct.mct.pt/pt/programasinvestimento/praxisxxi/.
Sweden
Scholarships are available at the Marcus Wallenberg Foundation for Education in International Industrial Enterprise on http://wallenberg.org/
Information on possible scholarships can be obtained from the Swedish Institute, http://www.si.se/
Loans can also be obtained from the Centrala Studiestodsnamnden at www.csn.se.
United Kingdom
The Business School Loans Scheme is available via NatWest Bank for qualified individuals wishing to undertake study on MBA programs accredited by the Association of MBA. This scheme is open to candidates who are permanent UK residents, with at least two years relevant work experience following graduation from university. More info: www.mba.org.uk.
Another possibility is the Career Development Loans. More information on www.lifelonglearning.dfes.gov.uk/cdl/.
RSM Erasmus University is a recognised institution for the Sainsbury Management Fellowship Schemeadministered by the Royal Academy of Engineering.
United States
The Federal Stafford Loan Programme is available to RSM Erasmus University MBA students who are US citizens. The school code of the Erasmus University / RSM is 023393. RSM Erasmus is also a recognised institution for the MBA Loans - Tuition Loan Programme (TLP) sponsored by the GMAC. Information and application forms (in PDF format) for the Federal Stafford Loan Programme and the Tuition Loan Programme (TLP) can be found on www.gmac.com.
Veterans can contact their local Veterans Administration (VA) or the Veterans Benefits Administration at Washington DC for more info. on educational assistance.
More financial aid info. www.embark.com; www.accessgroup.org; www.salliemae.com; www.petersons.com; www.kaplan.com.
More Info?
Contact: mba.info@rsm.nl
