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Fees & Financial Aid for Temple University Online MBA Program

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For many of us, when we consider getting an online MBA degree, one of the first things we want to know is how much it will cost.

To be honest, the cost of earning an online MBA degree can vary. Much of the cost is based on the school you choose, the availability of scholarships and financial aid, materials and other program-related fees.

So, if you are looking at Temple University online MBA program, you might be interested in knowing its tuition and fees.

Tuition & Fees

Indeed, the cost of an online MBA degree can vary. However, the average tuition for a campus-based MBA program can be more than $60,000. For top business schools in the United States, the tuition and fees can even exceed $100,000. As for the cost of earning an MBA degree online, it is virtually similar to that of earning a campus-based one.

So, in terms of tuition and fees, the online MBA program from Temple University Fox School of Business is a great return on investment. You know the total fee for Temple University online MBA program in the fall of 2011 was $70,000. Be noted that the fee is subject to vary for each entering class. However, once approved, the fee is guaranteed for the duration of the program.

Anyway, no matter how much you need to pay, the fee covers almost every aspect of the online MBA program, including:

• Instructional costs for the fall, spring and summer sessions

• The residency program(s), which includes room and board (with travel expenses excluded)

• Special hardware, including webcam and headset

• All course material, including books, required software, cases and readings

• Special events and all other related program activities

Speaking of special events, you know Temple University offers a number of in-person and virtual MBA information sessions for its online MBA students. These events offer the opportunity to learn more about the online MBA program, meet the staff as well as ask questions. Check the admissions events in the fall of 2012 on the following website:

http://www.fox.temple.edu/cms_academics/mba-ms/online-mba/admissions/admissions-events/

Scholarships & Financial Aid

Surely, the fees include most aspects of the online MBA program.

However, for some students, they may need financial aid to help them finance the online MBA program at Temple University.

Fortunately, Temple University considers its Online MBA program a two-year graduate program with the same financial aid benefits that are awarded to classroom-based graduate students.

You know, online MBA students can qualify for up to $20,500 in federal Stafford loan funding. In addition to federal Stafford loans, Temple University’s MBA loan programs also include Alternative Educational Loans and Federal Graduate PLUS

Loans

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In fact, before 2010, most colleges and universities offered federal loans through the Federal Family Education Program (FFELP). This program allows students and parents to take out federal loans through a private lender. However, since the 2010 to 2011 school year, these schools (including Temple University) have offered federal student loans though William D. Ford Federal Direct Loan Program, instead of the FFELP. Unlike the FFELP, the lender for the William D. Ford Federal Direct Loan Program is the federal government.

But, why Temple University entered the William D. Ford Federal Direct Loan Program? This is because of the Student Aid and Fiscal Responsibility Act (SAFRA) signed on March 30, 2010. The act requires all schools to switch to Direct Loans. Regarded as the most stable source of loan funding, Direct Loans are provided directly by the U.S. Treasury.

Having no idea about these loans? Temple University’s Office of Student Financial Services can help you. You can also check the following page for a general idea of these loans.

http://www.temple.edu/sfs/loans.htm#alternative

Anyway, the financial aid process can be a bit complicated. However, there are some tips that may help you and your parents.

Be thorough

Figure out all the MBA loan programs as well as the application process. Don’t leave required questions blank, because it may delay your processing.

Be quick

Get all the application forms and file them as soon as possible. No matter which loan you are applying for, make sure to complete admission and financial aid forms on time. Here are some key dates for your reference.

• January 1: All online MBA students looking for financial aid at Temple University should apply for financial aid by completing the Free Application for Federal Student Aid (FAFSA) after January 1.

• March 1: Priority consideration is given to applicants’ applications received and completed by this date. This is also the deadline for Temple University’s MBA loan programs.

Ask for help

If you have any questions about the financial aid process, you can contact the Student Financial Services Office at (215) 204-2244. You can also request information through email (sfs@temple.edu). If you want to make an appointment to meet with a financial counselor, call (215) 204-3520.

Note: When filling in the FAFSA, you will need the Federal FAFSA Code for Temple University applications. Bear in mind that Temple University has one, single federal school code for applicants to use in filling out the FAFSA. That is 003371. The code is used for all Temple schools and colleges and for all undergraduate, graduate and professional school programs.

Actually, in addition to financial aid, exemplary online MBA students at the Fox School of Business may be considered for merit-based scholarships. To determine whether you are eligible for merit-based scholarships, a scholarship committee will look at your work experience, GMAT scores and prior academic achievement.

However, for those being considered for merit-based scholarships, there is no need to complete additional forms or submit additional application essays or recommendations.

Additionally, if you are a Temple University undergraduate alumnus and accepted into one of Fox’s MBA programs, you will receive a 5% tuition scholarship. Fox’s MBA programs include:

• Executive MBA

• Full-Time MBA

• International MBA

• Online MBA

• Professional Part-Time MBA

For more information about the Alumni rewards program, call 215-204-5890.

Note: This web site is not affiliated with or connected to Temple University. For accurate and professional information, go to Temple University official site.

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