Financing an MBA
Discussion
craigjm said:
HowMuchLonger said:
Best way is to get your employer to play.
well yes but failing that because that isnt gonna happenIf you don't have the money to hand and your employer doesn't think you're worth the training then you do need to question whether it will be a benefit to you. Why do you want to do an MBA?
Welshbeef said:
Any training you pay for is tax deducatble so full in your self assessment which makes it more affordable
Aside from that no idea always employer pays if possible.
You're wrong. I've done two distance learning degrees and haven't been able to claim the cost back. Aside from that no idea always employer pays if possible.
http://www.hmrc.gov.uk/manuals/eimanual/eim32525.h...
acd80 said:
Welshbeef said:
Any training you pay for is tax deducatble so full in your self assessment which makes it more affordable
Aside from that no idea always employer pays if possible.
You're wrong. I've done two distance learning degrees and haven't been able to claim the cost back. Aside from that no idea always employer pays if possible.
http://www.hmrc.gov.uk/manuals/eimanual/eim32525.h...
Grey area.
Note my annual membership subscription for my professional qualification is tax deductible however I've never needed to use that on self assessment as the company pays in full.
Welshbeef said:
If to can argue that the education is a legitimate part of your profession - which frankly MBA would be to open the door to any senior position in a company.
Grey area.
Note my annual membership subscription for my professional qualification is tax deductible however I've never needed to use that on self assessment as the company pays in full.
It's not a grey area. It's black and white. You cannot get tax relief on education costs in this instance. Professional subscriptions is a different matter altogether. I was due to start an MBA in September and I looked into it extensively however I have been offered a new role that I would be silly to turn down.Grey area.
Note my annual membership subscription for my professional qualification is tax deductible however I've never needed to use that on self assessment as the company pays in full.
To the OP, a mate of mine funded his MBA through a loan. Not ideal but it's paid off (no pun intended!) for him.
acd80 said:
To the OP, a mate of mine funded his MBA through a loan. Not ideal but it's paid off (no pun intended!) for him.
That's what I was considering and noticed that you used to be able to get special loans for MBA's from Natwest etc but they don't seem to do them anymore so I guess it's just a standard loan. Other option I guess is remortgaging and taking some equity out of the property. craigjm said:
Looking at doing an MBA with Warwick University through distance learning over three years. It costs around 7.5k per annum so 22.5k in total. What is the best way to finance something like this?
As someone who is about to finish his MBA, a distance learning MBA would be somewhat pointless. One of the main reasons for doing the MBA is to build relationships and share experiences with your classmates. Distance learning will not give you that.JDFR said:
As someone who is about to finish his MBA, a distance learning MBA would be somewhat pointless. One of the main reasons for doing the MBA is to build relationships and share experiences with your classmates. Distance learning will not give you that.
Ah, but distance learning doesn't necessarily mean you never get to meet your fellow students — there will probably be regular face-to-face tutorials with groups of students & residential components, where there's plenty of opportunity to build relationships & share experiences. I did a 'distance learning' MBA & that was certainly my experience.Gassing Station | Finance | Top of Page | What's New | My Stuff



