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Are you thinking about doing an MBA at Oxford? It's a big decision that involves a lot of time and money. Are you wondering about the Oxford MBA fees and other expenses?
This blog post will discuss all the costs of getting an MBA at Oxford. We'll cover everything from tuition fees to living expenses. This includes scholarships, financial aid, part-time jobs, and their payoff. So, let's dive in and explore the costs together!
Oxford MBA Fees: An Overview
The tuition fee for the one-year full-time MBA program starting in September 2024 is £78,510.
Studying for an MBA at Oxford is exciting but also daunting due to the costs. As a hopeful MBA student, you likely want to know the fees for the year starting in September 2024. The tuition fee for the Oxford MBA program is £78,510 for the entire program duration, which lasts a year.
Understanding the Living Costs for Oxford MBA
When it comes to pursuing an MBA degree at Oxford, one of the most crucial aspects to consider is the living expenses, in addition to the program fees, which can be pretty high in London.
Your living costs can vary significantly depending on your lifestyle. These are estimated to be between £1,345 and £1,955 per month in 2024-25.
Let's break down the costs of living in London for Oxford MBA students: food, accommodation, transportation, and utility.
- Food: The probable costs for food for an Oxford MBA student in London can range from £315 to £495 per month, depending on individual preferences and dietary requirements. For an entire year, it ranges from £3,780 to £5,940.
- Accommodation: Finding affordable accommodation in London can be challenging; hence, it's essential to budget accordingly. The likely costs for accommodation for an Oxford MBA student in London can range from £745 to £925 per month. For an entire year, it ranges from £8,940 to £11,100.
- Public Transport: Full-time UK students with a National Rail Card get a 30% discount on tube and bus fares using a Student Oyster Card. A monthly Student Oyster Card for Zones 1-2 costs £103.
Several other costs are associated with the Oxford MBA Fees, which all add up to the total cost of pursuing the MBA program at Oxford. The following table showcases the various costs:
| Expense Area | 12 Months (Lower) | 12 Months (Upper) | Average (12 Months) |
|---|---|---|---|
| Food | £3,780 | £5,940 | £4,860 |
| Accommodation | £8,940 | £11,100 | £10,020 |
| Personal items | £2,280 | £3,840 | £3,060 |
| Social activities | £480 | £1,140 | £810 |
| Study costs | £420 | £1,020 | £720 |
| Other | £240 | £420 | £330 |
| Public Transport | - | - | £1,236 |
| Fees | - | - | £78,510 |
| Overall Total Cost | - | - | £99,546 |
How Can You Finance Your Oxford MBA Fees
Starting an Oxford MBA is an investment in your future. It's essential to finance it smartly. Here are two key options:
- Scholarships: Oxford University offers various scholarships. These include merit-based, diversity, and grants. They reward excellence and support deserving candidates financially. Apply early to improve your chances of getting a scholarship.
- Loans: If you need financial help, consider loans. Both private and government-backed options offer competitive rates and flexible terms. Research well, compare, and assess your ability to repay.
Using scholarships and loans wisely can make your Oxford MBA more affordable. Plan, explore all options, and make decisions that match your financial goals.
Scholarships Available to Cover Oxford MBA Fees
Several scholarships are available to help with the financial burden related to the Oxford MBA Fees. Meanwhile, Oxford University and its colleges have over 1,000 scholarships available for graduate students, some of which are awarded following each MBA admissions stage. Scholarships can be your biggest ally in managing the Oxford MBA fees.
Some of the available scholarships include:
| Scholarship | Amount | Eligibility | Slots Available |
| Saïd Business School Foundation Scholarships | up to £25,000 | All MBA applicants | 50 |
| The Laidlaw Scholarships | Full MBA course fees | Open to female candidates | 10 |
| The Skoll Scholarship | Course fees and a partial grant for living costs | All MBA applicants | 4 |
| Oxford-Intesa Sanpaolo MBA Graduate Scholarship | Course fees and a grant for living costs of at least £17,668 | Female candidates | 1 |
| Weidenfeld-Hoffmann Scholarships and Leadership Programme | Course fees and a grant for living costs of at least £18,622 | All MBA applicants | 5 |
Discovering the Student Loans
Managing the financial side of an Oxford MBA is crucial for your academic and career goals. Here, we look at student loans. We'll explore options to cover your MBA costs. Knowing these options will help you make smarter financial decisions. Now, let's look at the different student loans available for your Oxford University journey.
Lendwise
Lendwise offers loans primarily to UK residents, but they consider applications from other European or international candidates on a case-by-case basis. They don't require a co-signer, collateral, or guarantees, and there are no penalties for early repayment. Your application is evaluated based on your overall profile, not just your credit score. They offer a fixed interest rate personalised for the entire loan term.
Their loans cover all Saïd Business School programs, both part-time and full-time, allowing borrowers to access funds ranging from £5,000 to £100,000 for up to 10 years. You can borrow up to 85% of course fees and certain living costs. Full-time courses have a grace period of up to six months after studies before repayments start, subject to approval.
Prodigy Finance
Prodigy Finance offers loans to students from 150 different nationalities. They don't require a co-signer, collateral, or guarantees, making it accessible to many students. There are no penalties for repaying the loan early; conditions are determined based on individual assessments.
They conduct cross-border credit assessments to determine eligibility. For MBA programs, students can borrow up to 100% of course fees and living costs.
Securing Part-Time Jobs to Manage Oxford MBA Costs
Are you looking to enhance your financial prospects during your Oxford MBA program? It's worth considering taking up a part-time job to earn extra money and gain valuable work experience. Here are some prospective part-time job opportunities for students to get help with their Oxford MBA fees, segregated into different categories and their average earnings.
- Campus jobs: Oxford University provides a range of part-time jobs for students, such as research assistant, library assistant, or administrative assistant. These campus jobs offer flexible working hours that allow you to easily manage your coursework schedule. The pay for campus jobs varies but typically ranges from £10-£15 per hour.
- Hospitality industry: Oxford is a city that attracts many tourists, and the hospitality industry is a popular option for part-time work. Opportunities can range from working in a hotel, restaurant, or café. Depending on the position and experience, the hourly rate for hospitality jobs in Oxford typically ranges from £8-£12 per hour.
- Retail sector: Working in shops and department stores is another option for part-time work. Depending on the position and experience, the hourly rate for retail jobs in Oxford typically ranges from £7.50-£9 per hour. This can help effectively manage Oxford MBA fees.
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Tutoring: As an Oxford MBA student, you can tutor undergraduate students in your area of expertise. This can be an excellent way to hone your skills and earn a decent income. The pay for tutoring varies depending on the subject and the student's level but can range from £20-£40 per hour.
| Part-Time Job Sector | Hourly Salary | Weekly Salary (20 hours/week) | Monthly Salary (20 hours/week) |
|---|---|---|---|
| Campus Jobs | £10-£15 | £200-£300 | £800-£1200 |
| Hospitality Industry | £8-£12 | £160-£240 | £640-£960 |
| Retail Sector | £7.50-£9 | £150-£180 | £600-£720 |
| Tutoring | £20-£40 | £400-£800 | £1600-£3200 |
Understanding the Student Visa Work Hour Restrictions
For international students pursuing an MBA at Oxford, one of the best MBA colleges in UK, it's crucial to be aware of the work-hour restrictions set forth by your student visa along with Oxford MBA fees. These regulations exist to balance allowing you to earn an income and ensuring sufficient time to concentrate on your studies.
- The student visa work hour restrictions for Oxford MBA students are somewhat stringent. You are allowed to work only 20 hours per week during term time.
- During holidays and vacations, you can work full-time, which equates to approximately 40 hours per week.
Conclusion
Considering an MBA from Oxford University reveals a significant financial commitment. The fees are high. However, the program offers top-notch teachers, a diverse student body, and great networking. Careful planning is crucial. Yet, investing in an Oxford MBA is worthwhile.
