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If you're considering McCombs School of Business for your MBA journey, brace yourself for a comprehensive breakdown of the 2023–2024 academic year's fees. From tuition to living expenses and financial aid, we've meticulously outlined the costs for MBA candidates, giving you a clear picture of what to expect. Whether you're eyeing financial aid or weighing the pros and cons of each funding avenue, our guide is your roadmap to informed decision-making. So, are you ready to embark on your MBA adventure with McCombs and navigate the McCombs MBA fees?
Are You Curious About McCombs MBA Fees?
Tuition fees for non-Texas residents for the 2023–2024 MBA intake at McCombs is $58,720 per year.
For the 2023-2024 academic year, the estimated cost of attendance for the full-time MBA program, including tuition, room and board, transportation, books, and personal/miscellaneous expenses, is approximately $77,018 for Texas residents and $82,738 for non-Texas residents. These figures are based on a full-time MBA graduate student who is enrolled in 15 credit hours per semester.
Out of this, the tuition fee for the McCombs MBA program is $52,550 for Texas residents and $58,720 for non-Texas residents. These fees are subject to change through legislative action. Additionally, a non-refundable $2,000 deposit is required once you accept the offer of admission, which is credited toward your first-semester tuition bill.
Additional Expenses Other Than McCombs MBA Fees
Other than tuition fees, there are many other expenses that you need to consider while deciding on an MBA. Continue reading to get a better idea and understand whether McCombs is worth it.
Through the cost of attendance (COA), McCombs provides a full picture of how much it would cost for an MBA graduate to attend the school. This would include basic living expenses, housing, utilities, and tuition fees. To be precise, these expenses would vary significantly depending on your lifestyle. The table below will give you a clear idea of what your MBA fees are.
| Expenses | Resident who lives on campus or off campus | Resident who lives with parents | Non-Resident |
| Tuition | $8,684 - $10,848 | $8,684 - $10,848 | $17,312 - $19,786 |
| Housing and Food | ~$16,396 - $17,300 | ~$7,092 | ~$17,300 |
| Transportation | ~$1,740 | ~$1,740 | ~$1,740 |
| Books, course materials, supplies, and equipment | ~$776 | ~$776 | ~$776 |
| Personal / Miscellaneous | ~$4,634 | ~$4,634 | ~$4,634 |
| Total Cost of Attendance | $32,230-$35,298 | $22,926-$25,090 | $41,762-$44,236 |
Additional expenses that you can include in your cost of attendance, especially if you require financial aid, are:
| Additional Expenses | Amount |
| Full-Time MBA Student Fee | $1,200 |
| Laptop Computer | $2,500 |
| UT Academic Health Plan | $2,100 |
| International Student Services fees | - |
After reading all these, if you feel like knowing your personal MBA fees and expenses, the school provides a cost and tuition calculator that you can use.
What Are the Different Ways of Financing Your McCombs MBA Fees?
When it comes to financing your MBA fees, there are several ways to support your investment in your future. The McCombs School of Business offers a dedicated financial aid team to help you explore ways to finance your degree, ensuring that you can make the most of the opportunities available to you. If you need to be considered for financial aid, you must submit a FAFSA every year. The school code for the FAFSA is 003658.
Scholarship: A Significant Relief
McCombs School of Business offers various scholarships to full-time MBA students, ranging from awards based on financial needs to academic achievement and participation in extracurricular activities. The cost of attendance determined by the Office of Scholarships and Financial Aid (OSFA) states that each student applying for financial aid will be offered the same budget regardless of their residency.
| Scholarship | Eligibility |
| Joseph F. Barthmaier, Jr. Memorial Scholarship | This scholarship requires candidates with great ambition, good character and a reason for financial need. There is no separate application process. |
| Robert Austin Hatcher Endowed Scholarship | This scholarship is awarded based on a student's financial aid application. No separate application is required. |
| Albert and Anice Vanderlee Endowed Scholarship | Candidates should highlight their academic achievement and explain the need of a finanical aid. There is no separate application process. |
If you are aiming for a scholarship, you can apply through the Office of Scholarships and Financial Aid’s new scholarship management system, Longhorn Awards and Student Scholarship Opportunities (LASSO).
Work Study: Empowering Dreams with Financial Support
This is an opportunity for financially needy students at McCombs, one of the best MBA schools in the USA, to do part-time jobs. To be considered for work-study, simply indicate your interest in student employment by selecting "yes" to the relevant question on the FAFSA. Work-study awards are contingent upon the availability of funds. After receiving a work-study as part of your financial aid package, you are responsible for securing an approved job. Opportunities for employment exist both on and off campus, but the position must qualify as work-study.
Loan: An Essential Financial Tool for McCombs MBA Fees
Federal and state governments, along with private lenders, extend loan offerings. The amount of money you can borrow depends on several factors, including your year in school. Upon graduation from UT, loans necessitate repayment, typically with interest. A loan that MBA students can take is a Direct Unsubsidized Loan under the Federal Loans.
Eligibility for a Direct Unsubsidized Loan:
- There is no specific requirement to demonstrate financial need.
- The school determines the amount you can borrow based on your cost of attendance and other financial aid you receive.
Cost Comparison with Other Top MBA Schools
When researching MBA programs, it's crucial to compare the costs across different top-tier institutions. This allows you to make an informed decision and ensure you're getting the best value for your investment.
The following table provides insights into tuition fees, living expenses, and the overall financial commitment at various top MBA institutions. This comparison can help you determine the most suitable option that aligns with your academic goals and financial capabilities. Similar to this, the university website has a lot of information. Visiting a better education consultancy to gain financial knowledge is also an option.
| Other School | Fees |
| Stanford Graduate School of Business | $130,746 |
| Harvard Business School | $118,854 |
| MIT Sloan School of Management | $125,489 |
| NYU Stern School of Business | $126,874 |
Conclusion
In conclusion, navigating the realm of McCombs MBA fees and financing options can seem daunting, but armed with the right knowledge and resources, it becomes achievable. With our comprehensive breakdown and guidance, you can confidently chart your path towards funding your MBA journey, ensuring a successful and rewarding experience ahead.
