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McCombs MBA Fees: Program Cost, Financial Aids, & More

Program Cost, Financial Aids, ROI & More

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 mccombs mba 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. 

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.

Foe detailed description of fees, please refer Cost of Attendance.

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. 

Fees 1

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. 

For detailed description of fees, please refer Cost and Tution fees.

What Are the Different Ways of Financing Your McCombs MBA Fees?

When it comes to financing your McCombs MBA program 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

scholarship

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. 

Loan: An Essential Financial Tool for McCombs MBA Fees

loan

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.

USA

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

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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.

Know Your Author
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Abhyank Srinet
Study Abroad Expert
Abhyank Srinet, the founder of MiM-Essay.com, is a globally recognized expert in study abroad and admission consulting.His passion lies in helping students navigate the complex world of admissions and achieve their academic dreams. Having earned a Master's degree in Management from ESCP Europe, Abhyank's expertise in data-driven marketing strategies has driven growth for some of the most competitive industries. As the founder of MiM-Essay.com, he has helped thousands of students get into top business schools with a strong emphasis on research, shortlisting, and applying to schools from a single platform. His dedication to education has also led him to create MentR-Me, a free-to-use social platform that simplifies the study abroad process for students, while providing universities with a powerful recruitment tool. As a leader in the field of admission consulting, he is constantly researching and implementing the latest strategies to ensure that his clients receive the best possible guidance. He leads the Business Development and Digital Marketing side of both companies, and has grown both ventures to 7 figure revenue.His unique insights, experience, and dedication to his clients make him a valuable resource for anyone seeking to advance their education or career.
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