MBA | Full Time

Budgeting Tips for Texas MBA Full-Time Students

We encourage you to take some time to budget and save for returning to school. Below you'll find some helpful tips to scale back your budget.

  • Begin by going to an online budget calculator, like Adventures in Education's budget worksheet.

  • Determine what expenses student loans won't cover, like entertainment, car payments and maintenance, credit card payments, previous student loan payments, Internet, cell phone, dining out, and cable television.

  • Figure out how much money you'll need to have in savings, and/or what expenses you could cut back on in order to fit within your student budget.

  • Contact the lender who manages your previous student loans. Often, those payments can be deferred while you're in graduate school.

  • Examine your spending - are there unnecessary expenses you can eliminate?

  • Start the search for housing early so you can lock in the best rate possible. Use opportunities to network with other incoming MBA candidates before school starts to see if you can find a roommate.

  • Take time to think about transportation expenses. The university has an extensive shuttle bus line, so consider cutting back on transportation costs by taking the shuttle instead of driving to school.

  • Plan for the fact that you'll only receive financial aid once a semester, and budget accordingly.

  • Be aware that job search expenses and living expenses for time periods you're not enrolled in classes are not covered by financial aid.

Page last updated: 5/15/2013