You think about attending a top B-school and the cost would be more than the average salary of a person in the US. The cost would be huge, probably one of the biggest investments you will ever make for your career. You should be evaluating all the costs involved and see if the degree will give you the right return on your investment.

• Preparation fee if you are joining an institute, testing fees, study materials, and other miscellaneous costs
• Application fees (ranging from US $40 to US $200) per application, can also add the fee for professional consultants you hire for reviewing your application
• Phone calls to schools
• Transcript request fees to your college/university
• Networking visits
• Postage for sending the documents to the schools
• Travel expenses for recruiting events, interviews, or campus visits

Once you get admitted, it is not just about paying tuition to the school but also other expenditures. You should also take into account that if you go for two year full time programs then the cost of not earning for these two years will be substantial. Depending on your profile and the school you are applying to, financial aid can come in the form of loans so prepare a budget to know if all your cost can be covered through this amount.

• Consider if you will be going alone or there will be any dependents accompanying you (usually a dependent will cost you 5000-9000 USD/year)
• Loan interest and repayment of the principal amount
• Expenses for relocation and the expenses because of change in the location
• Everyday travel cost (train, bus, patrol, car maintenance, parking fee)
• Cost for laptop and course packs
• If you want to drive a car, you have to go for a valid license and your car would require timely maintenance
• Health insurance would also cost you a bit and this needs to be reviewed time to time
• You will have to take domestic flights frequently to attend job fairs and to appear in various interviews
• If you are an international student, in addition to above costs; You may be visiting your family and friends time to time
• You will also be spending some bucks on long distance phone calls
• International students may need housing near campus (telephone, electricity, water bills are not included) or on campus (Which are slightly expensive than out of campus housing)

Now look at the rewards:

Once you have invested so much, you should be able to reap the benefits too. Carefully analyze the career opportunities you get after passing out. Speak with current students and alumni to know what kind of companies visit the campus. If you are an international student, you should be analyzing past statistics of international students very carefully.

MBA will give you great rewards in terms of loads of career opportunities now and over the course of your career. You can look at higher positions in the corporate hierarchy after a formal degree in management. You will get the confidence to turn towards entrepreneurship. You get to meet the diverse peer group and you learn a lot from their experiences. Also, the business contacts you develop during this time helps you reap the benefits throughout your life. If you have carefully taken the decision in light of your career goals and have evaluated the benefits with respect to the cost and time involved and found that MBA is on the cards, this is going to be one of the best investments ever

• Options for You Know how can you plan your finances and look at possible options of aid
• Scholarships and Aid About the requisites, budget planning, needed documentation and employment prospects
• Int'l graduate student loan If you have a co-signer, this program can definitely be helpful