MBA Budget Playbook

"C.R.E.A.M (cash rules everything around me)" – Wu-Tang. Grad school is expensive, but cost of living is baked into the loan eligibility. You can borrow for tuition and rent/food, then pay it down with post-MBA comp.

You probably won’t pay sticker. You reduce it with:

• Scholarships
• GI Bill
• Internship pay
• Signing + year-end bonuses
• Post-MBA salary jumps

• Mostly for full-time students.
• Schools use them to land competitive admits; bigger checks = they really want you.
• Top programs can still be stingy—be grateful for whatever hits.

• Public schools: covers full in-state tuition + fees.
• Private/foreign: up to ~$23.7K per academic year (indexed annually).
• Yellow Ribbon boosts private benefits when schools opt in (most elite programs do).
• You earn 100% after 36 months of qualifying service (or immediately if discharged for service-connected disability). ROTC/Academy grads start accruing after paying back their ADSO.
• Service time tiers: 36mo = 100%, 30mo = 90%, 24mo = 80%, 18mo = 70%, 6–18mo = 60%, 90d–6mo = 50%.

• Max federal Direct Unsubsidized first (fixed ~6%, small origination fee, federal protections).
• Use Grad PLUS if you need more coverage and want PSLF/income-driven safety nets.
• Shop private loans only if you have strong credit + clear employer sponsorship/comp upside and can tolerate the risk.

• Voc Rehab for qualifying disabilities.
• Talk to your school’s financial aid office—they’ve seen every scenario.
• Budget for social/travel—you only get one MBA experience.
• Signing/year-end bonuses are perfect for lump-sum paydowns.

1. Kellogg (private): $148K tuition – $28K GI Bill = $120K remaining. Median comp $150K base + $30K sign.
2. Michigan Ross (public): $142K – $85K GI Bill = $57K; minus $40K scholarship → $17K remaining. Median $140K base + $30K sign.
3. Texas McCombs (public): $112K – $67K GI Bill = $45K; minus $15K scholarship → $30K remaining. Median $130K base + $30K sign.
4. WashU Olin (private): $132K tuition but full ride → $0 owed; median $118K base + $25K sign.