Chennai: Indian students going abroad for the two-year MBA programmes are relying more on parental support than education loans, a recent study by the Graduate Management Admission Council (GMAC) has revealed.
The global study relating to 2009-13 said the financing mix varied depending on citizenship, MBA programme and the destination. The number of students seeking parental funding rose from 14 per cent to 20 per cent during this period as they got less by way of loans and scholarships. The popularity of specialised master’s programmes in business, which draw younger students than MBA programmes, may be a contributing factor, but prospective students in a range of programmes expect more parental funding.
Interest for part time MBA programmes among students has come down from 39 per cent in 2009 to 33 in 2013 as they consider full time programmes provide them better quality. Students prefer countries like the USA, UK, Canada, France, India, Hong Kong and Germany to pursue an MBA degree.
Commenting on the survey of MBA students, head of the department of management studies at Madras University, Professor P.T. Srinivasan, said, “Students feel it is worth studying 2-year full time MBA, as it will help them in their career progression; besides they are getting more encouragement from parents now. We now see more students applying for MBA programme in our university; it’s a positive trend. Many engineering graduates want to join MBA as they believe it will help them in their career.”
