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Jan/31/2013 - 04:48:23 pm

How to finance your MBA

A good sports or entertainment agent needs a background in both law and business. Getting your MBA is a good idea here, but you might be wondering how to best finance your educational goals. With a mixture of scholarships, loans, grants, and income from working, you can realize your dreams.

Harvard law alumni might be interested in expanding their career options outside of just practicing the law. For example, if you are looking to become a sports agent and run your own agency, getting your MBA in addition to a law degree can be a great way to gain the knowledge that is necessary to be successful in this field. The combination of law and business degrees will prove to be helpful when dealing with contract negotiations and bonuses. Still, many people are reluctant to take on a new degree because these can be extremely time consuming and expensive. Luckily, in today’s world, almost anyone can finance a new degree if they take the proper steps and stay disciplined. There are many loans and scholarships out there. There are also many ways to finance your education while working.

The first step is to see if you are eligible for any student loans or grants. The federal and state governments have a lot of money that you can borrow for your education and you will more than likely have a very low interest rate as long as your credit score is decent. Just remember that you will be paying off these loans for several years after you graduate. Think about consolidating your loans once you graduate in order to make your payments as easy as possible for you.

Next, you want to apply for scholarships. Many schools offer leadership scholarships that will help offset a lot of the cost of getting your MBA. There are many organizations out there that are willing to give you money if it will benefit them, too. If you already are practicing law as a junior partner, perhaps your firm will front some of the cost for you so that you can help them out in the future because of your advanced knowledge.

If all else fails, you can work your way through school. There are many jobs out there for law school graduates, and many of them are high paying. If you are struggling with bills and other expenses already, you might want to consider moonlighting in a nonrelated field. There is no shame in this; your hard work will more than payoff for you down the road. The main drawback here is that it requires a big time investment and can be stressful at times. You want to take care of your mental health, but you should also continue to reassure yourself that the hours you pour into this now will make you happier in several months time when you are within the career path that you have dreamed about.

Sports and entertainment agents are a great field for former law alumni to go into, and an MBA will help you to better manage your clients and other employees. There is no doubt that this is a demanding field, but if you put in the hard work now, you will definitely see the rewards later on when you are making a lot of money and having fun doing so.

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