MBA loans for international students from Bangladesh

Although earning your Master of Business Administration (MBA) can lead to lucrative career opportunities, you’ll first need to figure out a way to pay for your degree. The average cost of an MBA programme in the United States is US$61,800 (BDT 6,876,366), according to the Education Data Initiative, but some schools charge well over US$100,000 (BDT 11,127,000).

Even if you have some savings or financial help from your family, you may need additional financing to cover the costs of tuition, fees, housing, and other living expenses. One option is to take an MBA loan.

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Key statistics

  1. Distribution by academic level in the US for international students:In the 2023/24 academic year, the total number of international students in the United States reached 1,126,690. Of these, 883,908 students were enrolled in academic study, including undergraduate and graduate programmes, while 242,728 participated in Optional Practical Training (OPT). Source: IIE Open Doors 2024 Report
  2. Employment outcomes for master’s degree graduates in the U.S.Nearly 90% of master’s degree graduates from the Class of 2023 were employed or continuing their education within six months of graduation, reflecting strong career prospects for advanced degree holders. While this marks a 0.9% decrease from the Class of 2022, it remains higher than employment outcomes recorded during the pandemic, highlighting the resilience of the job market for master’s graduates.Source: NACE – Class of 2023: Nearly 85% of Bachelor’s Grads Employed or Continuing Education
  3. The average cost of a master’s degree in the U.S.:According to the Education Data Initiative, as of Nov. 23, 2024, the cost of a master’s degree typically ranges between USD 44,640 (BDT 4,668,000) and USD 71,140 (BDT 7,528,000), depending on the school, major, and program length. On average, the cost is around USD 62,820 (BDT 6,582,000).Source: Education Data Initiative – Average Cost of a Master’s Degree

Explore your options before taking an MBA loan

While MBA loans can be helpful financing tools to cover the costs of your education, you want to avoid taking on too much debt. You have to pay student loans back with interest, which could cost you a significant amount over the years.

Before you take a loan, reach out to the financial aid office at your school to discuss your financing options. Explore opportunities for grants and scholarships, such as the Fulbright Foreign Student programme, that will help cover at least some of your expenses.

Since grants and scholarships are types of gift aid that you don’t have to pay back, they can lower your educational costs and reduce the amount you need to take in MBA loans.

You may need a cosigner for your MBA loan

As a Bangladesh student, you’re not eligible for federal student loans from the U.S. Department of Education. Instead, you’ll need to obtain a student loan from a private lender, such as a bank, credit union, or online loan company.

Most private lenders in the U.S. require you to have steady income, an established credit history, and a good credit score, which many Bangladesh students do not initially have. As a result, you may be required to apply for your loan with a cosigner.

Specifically, you may need to apply with a co-signer who’s a U.S. citizen or permanent resident and has a steady income, along with established credit and a credit score of 670 or higher. Your loan’s interest rate and terms will be based on your cosigner’s credit.

Your cosigner will also become equally responsible for the MBA loan, meaning they’ll be expected to repay it if you fall behind. If you miss payments, your cosigner’s credit may be affected.

What to do if you don’t have a cosigner

If you don’t have a cosigner, you’re not out of options. Some lenders, such as MPOWER Financing, offer MBA loans to Bangladeshi students without a cosigner or collateral required.

You’ll still have to meet other requirements, such as attending an eligible school.

Final word on MBA loans

If you’re on the hunt for an international MBA student loan, make sure to do your homework before you pick a lender. Consider the amount you want to borrow and the terms and conditions that will come with your loan, including the loan’s:

  • Interest rate, and whether it’s fixed or variable
  • Annual percentage rate (APR), which includes both interest and fees
  • Repayment term in months or years
  • Loan fees, such as an administrative or origination fee
  • Grace period before you have to start making payments

Additionally, find out when your first payment is due to ensure you don’t miss any bills. Once you get a job after graduation and start earning an income, you could consider making extra payments on your MBA loan to pay it off faster.

For more information on MBA loans for international students, start your search with MPOWER Financing.

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FAQs


What specific MBA programmes are most cost-effective for Bangladesh students?

Public universities in the U.S. typically offer more affordable MBA options for Bangladeshi students, with programmes at institutions like the University of Texas-Arlington and Louisiana State University costing US$25,000-35,000 (BDT 2,781,750-3,894,450) total. Many schools offer merit scholarships specifically for international students with strong academic records from institutions like IBA at Dhaka University or North South University. Consider one-year accelerated MBA programmes, which significantly reduce both tuition costs and living expenses while still providing valuable credentials for Bangladesh’s growing corporate sector.

How can Bangladeshi students demonstrate financial capability for MBA loans without a traditional U.S. credit history?

Bangladesh students can strengthen their loan applications by providing evidence of financial responsibility through bank statements from established Bangladesh institutions like Dutch-Bangla Bank or BRAC Bank, showing consistent savings patterns. Include documentation of any previous loans with perfect repayment history, even if they were education or personal loans within Bangladesh’s banking system. Focus your application on future earning potential by highlighting Bangladesh’s growing demand for MBA graduates in sectors like telecommunications, banking, and pharmaceutical industries, where starting salaries for U.S.-educated professionals often exceed BDT 150,000 monthly.

What visa considerations should Bangladesh students understand when taking MBA loans?

Ensure your loan terms align with F-1 visa requirements, as visa officers need proof of sufficient funds for your entire programme. Maintain clear documentation showing how loan disbursements will cover your educational expenses while meeting the visa requirement of demonstrating sufficient funds. Remember that your Optional Practical Training period after graduation provides a crucial earning opportunity to begin loan repayment, but you must have a concrete plan for managing payments if you return to Bangladesh, where average MBA salaries are significantly lower than in the U.S.

How do Bangladesh-based education loans compare with U.S. MBA loan options?

Education loans from Bangladesh banks typically offer lower maximum amounts (usually up to BDT 40-50 lakh) than U.S.-based MBA loans, making them insufficient for covering full MBA costs at top U.S. programmes. Bangladesh bank loans generally require substantial property collateral and guarantors, while some U.S. lenders offer no-collateral options based on future earning potential.

What repayment strategies work best for Bangladesh students with MBA loans?

Consider beginning with interest-only payments during your MBA programme to reduce total debt accumulation while managing limited student budgets. Take advantage of the higher earning potential during your Optional Practical Training period to make larger payments before potentially returning to Bangladesh.

DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.

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