Ethel Yang first found out about the $5,000 CommonBond MBA scholarship through an unlikely source: while scrolling through Instagram. She’d heard of the lender through some of her friends so she “knew it was legit” and clicked on the ad.
The recipient of the CommonBond MBA scholarship, Yang is pursuing both her MBA and Master’s of Public Health at University of California, Berkeley. She received her BA in Biology from the University of Chicago.
Yang has a mix of funding sources for her tuition, including scholarships from the school and some support from her family. She’s also worked part-time, holding down a variety of jobs and internships to help pay her way.
But no matter how driven or resourceful a grad student is, living in the Bay Area is expensive and the financial strain can be stressful. Receiving the CommonBond scholarship eases some of the financial stress and means she can focus on other priorities. She can pick an internship because it provides a good experience, not because it’ll help pay her rent and groceries.
As with other degree programs, the amount of money that MBA students borrow is on the rise, often topping $100,000 total. At the HaasSchool of Business, where Yang attends, tuition for the 2018-19 school year was$60,987 for in-state students and $61,422 for out-of-state students. The school estimates that students spend another $35,000 or so on living expenses, health insurance, and other costs.
CommonBond knows that getting an MBA is expensive—that’s why we got into the student loan industry in the first place.Our goal is to help ease that burden and reward talented students.
“We were founded by MBAs,” said Jessie Taylor,Senior Marketing Manager at CommonBond. “CommonBond helps students reduce the cost of their education and achieve their professional goals. Scholarships are one of the ways we do that, in addition to providing simpler, more affordable MBA loans.”
Yang’s passion is global health. After she finishes grad school, she hopes to work in predictive analytics because there’s so much data available now, especially in health care. That’s why pursuing a dual degree—an MBA and MPH—makes so much sense for her. She sees the MBA as something that will be applicable in many fields, and wants to combine her medical and policy knowledge with business acumen to have the greatest impact.
“The MBA would give me the skills and expertise to advance more on the business side and to work in any industry,”she said. We couldn’t agree more. An MBA is a great investment, and we’re thrilled to be able to help support Ethel in her journey.
Are you pursuing an MBA and looking for ways to cover the cost? Consider a specialized MBA loan from CommonBond —low rates, strong protections, and a company that was founded by students just like you. See your rate.
And don't forget to join CommonBond's Pre-MBA group on LinkedIn, where you can ask questions, connect to other "pre-MBAs," and be first to see exclusive b-school content.