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Wednesday, June 24, 2015

MBAs and MFins: Think a management degree is out of your reach? Think again

"Competing for top talent, schools, universities and private colleges aim to attract a diverse student cohort by offering scholarships and bursaries. Support is targeted at specific groups with eligibility depending on criteria such as a high Gmat test score, gender, nationality, or career background." continues The Independent.

Photo: The Independent

"We have £1m in scholarships available, depending on who we are trying to attract. Different courses will have different diversity issues," says Professor Ginny Gibson, deputy dean of Henley Business School, University of Reading.

Henley and the British Council, for example, jointly fund four GREAT Scholarships targeted at students from India. The business school also offers two awards of £5,000 for Russian nationals to build closer links to an important developing market. And to attract women CEOs, Henley partners with the 30% Club to offer a full fee scholarship for its executive MBA.

Diversity is regarded as the key to a rich learning experience. Mixed classes that include a high percentage of students of different nationalities as well as a balanced gender intake and age profile stimulates discussion. There is also a widening participation agenda where students from low-income groups and from non-traditional backgrounds are encouraged to take up scholarships. Many academic institutions place a high priority on inclusion. "Our mission is to give everyone the opportunity to transform their life, from undergraduate scholarships based on financial need to our £40,00 MBA full-fee bursary for young potential leaders with a first class honours degree and one year's business experience," says Ffion Rees-Hughes, head of marketing and recruitment at Manchester Business School.

Low cost loans also form part of the equation with alumni-backed schemes such as Prodigy Finance taking over from risk-averse retail banks. Meanwhile, the Government plans to build Britain's knowledge base by extending student loans to taught Masters degrees and doctoral research. Some institions are already offering generous support for research. Open University Business School (OUBS), for example, offers a fee waiver of £10,000 and a £14,000 annual stipend to doctoral students attending the university's Milton Keynes campus. 

Source: The Independent