iMBA Payment Options
1. Personal Direct Payment
Students may elect to pay the total term's costs at the beginning of each new term or opt for one of the following deferred payment plans described below. The cost per term is $6,125.
2. Personal Deferred Payment
a. Students will be billed for the term charges at the beginning of each term, with 50 percent of the charges to be paid by the 4th week of the term. These charges would be $3,062.50.
b. The remaining 50 percent of the term charges ($3,062.50) will be billed approximately midway through the term and must be paid before the end of the respective term.
3. Employer Deferred Payment
a. The employer deferred payment plan is initiated with the completion of a Tuition Reimbursement Approval Form (TRAF) signed by both employee and employer. The TRAF indicates conditions for employer reimbursement and must be submitted to the iMBA office prior to each term (contact information for the TRAF will be provided). Submission prior to each term is needed to verify continued employment and eligibility for reimbursement.
b. Students are responsible for all payments. Each student must promptly submit payment to Penn State when reimbursement for expenses has been received from the employer, under the company's officially established tuition assistance program.
c. Students will be billed and will be held responsible for immediate payment of any amount determined to be ineligible for employer reimbursement.
d. Students will be billed for the employer reimbursement component of their fees 2 weeks prior to the end of a term. Students then have 45 days to submit payment. Registration for a subsequent term will often occur and be accepted before we receive payment for the previous term. If payment is not received at the end of 45 days, course registration for the respective term will be revoked.
Financial Aid
There are many ways you may be able to receive financial assistance for your pursuit of the iMBA degree. Many employers have funds set aside for the professional development of their employees. Ask your employer what the policy is for your position.
Most students are also eligible for the Federal Stafford loan program which provides up to $20,500 in low interest loans per academic year. Please contact the Penn State Office of Student Aid for information on how to apply.
The following sites give further information on student financial aid eligibility requirements and general aid information:
