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Green MBA Financial Aid

In these tough economic times, many of us are turning toward green education to shift career paths.  But how do we do this without digging ourselves into a deeper financial hole? Higher education can be expensive - the cost of a Green MBA ranges from $5,000 to $100,000, with the average  falling right around $50k (yikes!). But there are several Financial Aid resources for Green MBA programs and other green degrees.

1. Ask the university if they offer "assistanceships."  These can come in the form of teacher assistants, research assistants, or resident assistants and offer payment in the form of tuition.

2. Ask the university about other financial gift awards including grants, fellowships, and contest awards.

3. Find out if your current employer offers company employee education benefits to offset your personal costs.  After all, they will be receive the benefits of your sustainable education and might consider it a business investment.  

4. Explore scholarship options.  Several websites will help you search available scholarships.  These include: ScholarshipExperts.com, Scholarships.com, edu.Fastweb.com, and Peterson's Graduate Scholarship Directory.

5. See if any tax incentives apply to your situation.  These include the Lifetime Learning Credit, the Tuition and Fee Deduction, Business Deduction for Work Related Education, and the Student Loan Interest Deduction. 

6. Be smart about student loans.  If used sparingly and wisely, student loans might be the best way to go. Remember that you will have greater earning power after you complete your MBA, and consider your education a long-term investment.  Take out the minimum amount you need to cover tuition, and find other ways to provide for living expenses, books, and transportation.  Look into different types of loans (federal, private, Stafford, etc.).