Tuition and Financial Aid
Executive MBA tuition for 2020-2021 is $95,000 for both in-state and out-of-state residents. Tuition includes a $3,000 nonrefundable deposit and covers all courses, books and required materials, technology package (software), student and administrative fees, parking and meals on class days, and transportation, lodging, and some meals affiliated with the required residencies. The international round-trip airfare is not included in the tuition. The tuition rate is the same for both in-state and out-of-state students. Executive MBA tuition is billed in six installments. More information about the payment schedule is provided upon admission.
The Virginia Tech Board of Visitors establishes the tuition annually, typically in the spring. Therefore, please use the above figures as a guide in considering the cost of the upcoming fall term, but note that tuition is subject to annual changes. The established tuition at time of entry is guaranteed for the entirety of the 18-month program.
FINANCING YOUR MBA
The decision to further your education and career by investing in an MBA can be a difficult one. Several funding sources may be available to you as you consider how to finance your advanced degree:
More than 50% of part-time MBA students receive full- or partial tuition support from their employers, according to a recent survey by GMAC. Check with the HR department of your company, agency or government office for your specific benefits.
- Third party payer is available if your employer agrees to pay at time of course registration. The MBA program office can help you write a business case justification.
- Reimbursement directly to you after the course is completed is common. The MBA program office can provide documentation needed to show course, grade, etc. per semester.
- Federal guidelines currently exclude up to $5,250 of educational assistance received from your taxable income. Be sure to understand tax implications for any benefit you may receive.
The Pamplin College of Business offers partial merit-based scholarships to assist working professionals earn their MBA while continuing their careers. Scholarships may be offered to highly qualified applicants to the MBA program, and, returning students in the program who demonstrate a high level of academic performance. No additional paperwork is required for consideration. Scholarship amounts are determined based on availability and the number of qualified recipients.
Early application is encouraged, as the availability of scholarships is greatest at the beginning of the review cycle.
If a new student is not awarded a scholarship upon admission, they may have the opportunity to receive a scholarship in a later semester.
- All scholarship applicants must be regular-status students (not provisional or Commonwealth) and taking at least five credits in the semester of the award
- Current students must have and maintain a minimum GPA of 3.0
- You do not need to file a FAFSA to be eligible, however please indicate whether or not you are using federal student loans as this will assist in identifying the scholarship funding source
If you are a graduate or professional student, you can borrow up to $20,500 each year in Direct Unsubsidized Loans. Direct PLUS Loans can also be used for the remainder of your college costs not covered by other financial aid. For information about qualifying for federal aid and filing a Free Application for Federal Student Aid (FAFSA) form, please visit the Federal Student Aid site.
The Office of University Scholarships and Financial Aid at Virginia Tech is also a resource.
If you’ve served on active duty after September 10, 2001, you may qualify for the Post-9/11 GI Bill (Chapter 33). The U.S. Department of Veterans Affairs provides information about the Post-9/11 GI Bill here. The Office of Veterans Services at Virginia Tech provides support to veteran and military students, and helps coordinate your educational benefits with the Department of Veterans Affairs.
A 529 plan is a tax-advantaged investment vehicle designed to encourage saving for the future higher education expenses of a designated beneficiary. This can be a pre-paid or savings vehicle. Please contact your state Department of Education for additional information.
As an employee of Virginia Tech, you may be eligible for tuition reimbursement, per University Policy 4800: Tuition Assistance and Reimbursement Program for Salaried Employees. This may be up to twelve (12) credits per year and the benefit may have tax implications. The MBA program office works losely with the Office of the Bursar and the Division of Human Resources to ensure the Virginia Tech employee is supported in the process of applying for and receiving the benefit.