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Imperial College Business School is a highly esteemed institution that attracts students from all over the world to pursue their MBAs. However, studying at such a prestigious institution comes at a cost. This blog post will delve into the Imperial MBA fees and their impact on the overall cost of studying at Imperial College Business School.
Imperial MBA Fees
The Imperial MBA is a highly sought-after asset for ambitious students from across the globe. Imperial is one of the famous MBA colleges in London and is listed among the best MBA colleges in the UK. The Imperial MBA curriculum offers an exacting education that will equip its pupils with the skills necessary to succeed in leadership positions within the business world.
However, this coursework comes at a cost; Imperial MBA fees can be exorbitant, and prospective students should be aware of what they are paying upfront before enrolling.
The tuition fee for the Imperial MBA program for the academic year 2024-2025 is £67,500.
This sum accounts for all expenses associated with enrolling at the school, including tuition, course materials, and access to career services offered by the institution. Students should also consider all other financial obligations they may face while living in London, such as housing costs, which can be quite significant; however, special scholarships or grants may help alleviate this burden and make it more viable financially.
Prospective students interested in learning more about possible aid opportunities should carefully review eligibility criteria and Imperial MBA fees before committing to any form of funding from this educational institution.
Imperial MBA Fees: Living expenses
Although attending the Imperial College Business School can be a thrilling experience, there are some practical issues to consider, such as how to set up a living expenditure budget. Although London is a wonderful city, it is also renowned for being among the most costly in the UK.
Therefore, accounting for expenses like lodging, meals, and transportation is crucial while creating your budget.
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Accommodation: Students can choose between college-run facilities and the private sector when considering accommodation options. College-run housing offers a budget-friendly option at £210 weekly or £912 monthly.
Although slightly pricier at £229 weekly or £994 monthly, private sector accommodations provide added flexibility, however, it's important to note that college-run options are unavailable for 12-month stays. -
Food: Budgeting for food expenses is essential, with an estimated cost of £71 weekly or £308 monthly. Over a 9-month period, this amounts to approximately £2,769; for a 12-month period, it increases to around £3,692.
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Travel: Setting aside funds for travel expenses is prudent, with an allocation of about £34 weekly or £129 monthly. This translates to a total of £1,158 for 9 months or £1,340 for 12 months, ensuring students can cover transportation costs comfortably.
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Personal and Leisure: Accounting for personal and leisure activities is important for maintaining a balanced lifestyle. Allocating £50 weekly or £218 monthly for such expenses allows students to engage in recreational pursuits. Over 9 months, this equates to around £1,962, while for 12 months, it rises to approximately £2,616.
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Total Costs: In summary, the total range for weekly living expenses falls between £365 to £384. Every month, expenses range from £1,566 to £1,665. For a 9-month academic year, costs are estimated at £14,094 to £14,838, while for 12 months, the total expenditure amounts to approximately £19,580.
| Cost | Weekly | Monthly | 9 months | 12 months |
|---|---|---|---|---|
| College-run | £210 | £912 | ||
| Private sector | £229 | £994 | £8,950 | £11,933 |
| Food | £71 | £308 | £2,769 | £3,692 |
| Travel | £34 | £129 | £1,158 | £1,340 |
| Personal & Leisure | £50 | £218 | £1,962 | £2,616 |
| Total | £365-£384 | £1,566-£1,665 | £14,094-£14,838 | £19,580 |
Imperial MBA Fees: Scholarships
The Imperial College Business School provides numerous financial aid options and scholarships to help students with tuition costs. Students are accepted for scholarships based on their academic standing, prior employment history, and financial need. The school also provides loans to students who require financial assistance.
Some of the scholarships offered by the University are:
- Imperial College Business School Scholarship
- Future Leaders Scholarship
- Forté Foundation Scholarship
- Imperial College Business School India Scholarship
- Commonwealth Shared Scholarship Schemes
- SBI UK Scholarships
Each scholarship's eligibility criteria and application process may differ, but they are generally awarded based on academic merit, work experience, and financial need.
Part-Time Jobs and Potential Earnings
Working part-time while studying can help students support themselves financially and gain practical experience. Students can work up to 20 hours per week during term time and full-time during the holidays. However, it is essential to balance work and studies to avoid compromising academic performance.
Here are some part-time jobs available to a student pursuing an Imperial MBA:
- Graduate Teaching Assistant: As a GTA, you can work part-time and assist with teaching undergraduate courses. You may gain useful teaching experience in this position and get an opportunity to make some money.
- Research Assistant: You can assist professors with their research initiatives by working as a research assistant. You could gain connections and useful research experience from this work.
- Freelance Writing/Editing: You can work as a freelance writer or editor with great writing and editing abilities. You can work when it suits you and take on assignments as time allows.
- Tutoring: As an MBA student, you may possess knowledge or abilities to impart to others. You can work as a tutor and help other students with their coursework.
- Event Staff: Many events and conferences are held at Imperial College Business School throughout the year. You can work as event staff and help with the organization and execution of these events.
Student Visa Work Hour Restrictions
Many students choose to work part-time to offset some of the expenses. However, it's important to know the visa regulations for studying abroad. International students on Tier 4 visas in the UK can work part-time during their studies, but there are restrictions on the number of hours they can work. In this context, let's look at the student visa work-hour restrictions at Imperial MBA, one of the leading business schools in the UK.
- As per UK immigration law, students with Tier 4 visas can work up to 20 hours per week during term-time and full-time during holidays.
- Term time is defined as the period of study when classes and assessments are taking place, and holiday periods are the periods between terms and any additional holidays granted by the institution.
- Students must not engage in any work beyond the permissible hours, as doing so may result in the revocation of their visa and may jeopardize their ability to remain in the UK.
- Students can work in various roles, including part-time, casual work, internships, and placements.
- Imperial MBA offers a dedicated Career and Professional Development Service that provides guidance on international students' employment opportunities and work restrictions.
It is important to note that work hour restrictions and visa regulations may change, so students are advised to stay updated on any changes to ensure compliance with UK immigration law.
Conclusion
Earning an MBA from Imperial College Business School is a wonderful professional investment despite the hefty cost. Despite the high tuition, several financial aid schemes are available, and students can also work part-time to support themselves.
Despite the often high cost of living in London, students can manage their expenses by choosing wisely. Additionally, the Imperial College Business School graduates can anticipate higher salaries and better career opportunities, making the investment reasonable given the high ROI. Analyzing the benefits and costs is essential before deciding whether or not to enrol in the MBA program at Imperial College Business School.
