Australian Institute of Business (AIB) have recently announced that they will be working with Study Loans to provide an alternative financing option, giving MBA students greater flexibility when paying for their post-graduate education.
Study Loans is the first dedicated private student loan provider for Australian students looking to undertake their MBA and offer competitive interest rates and flexible payment schedules.
Over 30,000 domestic and international students in Australia currently study an MBA, with AIB students accounting for approximately 9% of this figure. In an industry estimated to be worth $500 million, many employees seeking to excel in their careers look toward further study to develop key strategic business skills.
Australian Institute of Business Financial Controller Kapil Gilani says the partnership with Study Loans is a bold move in the MBA space and hopes to revolutionise the way students can finance their education.
‘‘People looking to return to study or upskill in their career can often feel it is out of reach due to the financial implications that come with it. On average an MBA or Masters degree can be upwards of $52,000 , which can be out of reach for many people without a full-time salary.”
‘‘We’re committed to offering financing solutions that suit all needs and look forward to seeing our partnership with Study Loans support more people looking to complete an MBA or Master,” Mr Gilani said.
Study Loans flexibility affords students the facility to draw down on funds as required, along with low initial payments that only increase as the student progresses through the course. This can be a genuine alternative for students unable to access FEE-HELP or would like to manage their cashflow their own way.
Study Loans CEO Iain Pepper says the company is excited about the partnership with AIB and the prospect of making MBAs more accessible to those wishing to pursue further study and progress their careers.
“We have seen an increase of nearly 200 per cent in our Study Loans applications from 2018 to 2019. It is great to see the appetite for further study in the Australian business community and we are looking forward to making AIB’s courses available to more people,” Mr Pepper said.
To explore AIB and Study Loans’ payment options, click here.