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I think this is an important discussion, although it may be more relevant in our business schools community.

To add to the topic though- yes, the entire world’s economy isn’t doing great, and the credit crunch is being felt virtually everywhere. It’s true that international students are finding it increasingly difficult to finance their studies abroad with institutes being less and less willing to grant loans.
The good news is, it isn’t only the students’ problem. It’s the schools’ problem as well, since they need students to come to their school. A lot of schools are trying to work with credit unions and other financial sources to try and secure loans for new and current students. You can find more information in this article.
Also, I believe that in spite of the financial situation, business school is definitely worth it. Costs may seem high, but if you sum up all the benefits you’ll get over the years after you’re done your MBA, they’re easily worth it. Hopefully, the situation will improve eventually and more students will be able to afford their education and benefit from it.

dixitp_iitg, the question you ask is certainly on top of many prospective students’ minds. While the MBA education certainly is worth the costs (both direct and opportunity costs) your return on investment from your MBA degree will depend as much on you, as it will on the quality and the nature of the MBA program you choose to attend. For more information on finding an MBA program that’s right for you, please see our business schools community (bschools.learnhub.com).

There are several alternatives, however, that students should also explore if financing a two year degree becomes challenging.

First, there are Master of Science programs in business. These are typically one year long programs (vs. 2 years in an MBA), and unlike an MBA which tends to be slightly general, the Master of Science programs are somewhat specialized. Most common MS in business programs are Accountancy, which has gained popularity after the financial scandals of the early 2000s, Marketing, Finance, and Organizational Strategy.

Second, as a starting point and a more affordable alternative, you may want to look into diploma programs that are offered by many colleges and universities and provide an opportunity to gain training in an area of business that may be of interest and relevant to your career aspirations.

Finally, several schools around the world are starting to offer 12-15-month MBA programs. These are typically newer programs and don’t incorporate an internship.

As you can see, the options and opportunities are out there and they are for you to grasp. One final thing to keep in mind is that most business schools are also feeling the credit crunch, including the top 10 US schools like Harvard and MIT, and most are still offering merit and leadership scholarships to students who demonstrate prior academic achievements and leadership abilities.

my 2 cents.. work hard,get a great GMAT score, prepare a good appln, get a scholarship, it’ll sort out the burden of the tuition fee atleast and for the rest of the fees, it wont be that great an amount and you can easily pick-up a part time job,once u r in US or UK. All the best.