Finance and funding

Here are answers to frequently asked questions about the Cranfield Australian Alumni Scholarship. The FAQs have been divided into nine categories. However if your answer can’t be found here please DON’T hesitate to contact us. We are here to help.

You can also find our supporters group for the scholarship  on www.linkedin.com.

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How do I fund the course

The usual methods apply: Personal Savings, Borrowings (from banks or on Credit cards or family)  and Sponsorships. Choose the most appropriate sources of finance to match your circumstances.

You should take into account that the cost will not just be the fees. You will have to factor in accommodation, food, travel, entertainment (pub drinks etc) and of course books. Living on Campus as Cranfield is easy, and relatively cheap. The food in the Halls of Residence is reasonable even if it does get a bit boring.

The Cranfield Australian Alumni Scholarship will cover all the course fees and make a major contribution to the airfare and living expenses for one (or make a good contribution for those who wish to take partners/ families).

People who apply for the scholarship and don’t win may be eligible for reduced a Fee Share scholarship which reduces the fees payable. This can bring the total amount required for fees and living expense to less than the cost of the full time MBA at AGSM or Melbourne Business school currently over A$58,000.

While the Australian Dollar remains strong, the cost of getting an MBA from Cranfield is excellent value compared to the fees payable at Australian business schools.

Is it possible to work part time while studying?

Working whilst studying is simply NOT possible. The lecture contact hours are about 22 per week (3 for each of seven subjects in term one). But the total study hours required for reading, learning team work and homework on top of the contact hours is about 50! The students are flat out just dealing with the workload let alone having time to work.

Many students who take out loans to fund their MBA, make arrangement with their first employers post Cranfield to either pay off their loan in part or full.

Is the scholarship payment taxable?

The scholarship is not taxable, PAYG does not have to be deducted and the scholarship should not be shown in your income tax return as assessable income.