This personal narrative is based on a conversation with Chukwuma, a young Nigerian who got scholarship and a student loan to pursue his MBA at Duke University, USA. AfterSchoolAfrica has verified his employment and education history. The following has been edited for length and clarity.
My application journey wasn’t anything like I had imagined. I thought getting into my dream school would be smooth sailing with my background, but it turned out to be much tougher than I expected. I applied twice to multiple schools; seven the first time, six the second time. Fortunately, after two years of being waitlisted, I finally got the response I’d been hoping for. I got an acceptance letter from Duke University. It didn’t also just stop at the acceptance letter, I also got an $80,000 scholarship to help with the cost of study.
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As a first-class accounting graduate from the University of Benin, Nigeria, I thought securing admission for my MBA studies would be seamless since I had a strong academic background. I didn’t just graduate with first-class honors; I also had about five years of work experience with one of the top multinational companies in Nigeria, KPMG. Unfortunately, my background alone wasn’t enough to secure admission.
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In addition to my qualifications, I had to take a standardized test, GMAT to be precise, and it was quite challenging. I managed to pass, but my result was average.
In my quest for admission to pursue my MBA, I applied to Dartmouth University, the University of Virginia, Yale University, Duke University, and others. In my first year of applications, I neither received an acceptance nor a rejection. Instead, I was waitlisted. However, my determination kept me going, and I decided to apply again the following year. Unfortunately, the outcome was still the same until I finally received a positive response and my offer letter from Duke University.
One of the challenges of studying abroad especially for people from Nigeria is the funds. It’s not a secret that MBAs are usually expensive, compared to other masters courses, especially in the business/management field.
Fortunately, my admission came with a scholarship to help with the cost of my education. I didn’t have to submit an extra application for the scholarship as it came alongside my admission. Initially, I was given a $70,000 scholarship, so I took the bold step to write to the school for a review and then it was increased to $80,000.
Frankly speaking, even with the scholarship, pursuing my MBA was still going to be challenging as there was no way I could personally foot all the bills myself. This was where the idea of applying for a student loan came in.
Duke University is a private research university, and one of the top ranking schools in America, currently sitting at the 6th position according to the US News and World Report. This means that the fees would be on a high side. The cost of my tuition, living expenses and other miscellaneous expenses during my program was around $200,000. Although I had been working before my masters, there was no way I could foot the bills without assistance. Fortunately, I had the right guidance. In America, “there are a lot of opportunities for you to get loans.” My school also made the whole process easy. Duke University partners with various loan institutions, all that’s left to do on the part of the student is to visit the school’s website, submit their admission letter and get their koans approved. This was what I did and my application was successful. I got $100,000 to augment my initial scholarship which helped me to finance my education during my masters.
After securing my admission, another hurdle I was left to cross was the visa processing. You know, it’s quite difficult to get an American visa, especially when you’re from Nigeria. However, I was quite lucky because despite the fact that my admission decision came in May for the August intake, I was still able to secure my visa. Although, it didn’t just come on a platter as I had to prepare adequately beforehand. “I had mock sessions with friends who had gotten their own visa. They walked me through the process and we had mock interviews before I went to the actual interview.” Luckily, I was able to get my visa and began my studies abroad at the due period.
However, life felt so different from what I had been used to in Nigeria. “I had to do too many assignments, and that was something I was not used to.” During my undergraduate years in Nigeria, a large chunk of our grades were dependent on how well we performed in our final exams. But coming to the US, I had to do assignments, presentations, group work etc, and at first it felt demanding. Thankfully, I was able to adapt after a short period of time. Additionally, I also learned the importance of being able to nurture relationships, sustain conversations and be more accommodating.
It was during my journey I got to learn that the MBA process was quite different from the MSC process. After resuming in August, I started to recruit in September. It wasn’t easy and I wish I knew certain things I know now, then. During the recruitment process, if you’re successful, you get to intern in a company for a period of time. At the end of your internship, if you’re fortunate enough with good records and can make the right connections, you’d get a job offer which you will begin after your studies.
I was fortunate to get a job offer at the end of my internship, so, during my second year I didn’t have to bother about securing a job after school. It was during this period I was able to fully enjoy the experience. “I traveled to a couple of countries and I was more relaxed because I already knew I had a job waiting for me after I graduated.”
Looking back, I believe the previous disappointments culminated into something beautiful. Currently, I work as a Management consultant in Dallas, Texas. I also earn enough to take care of myself, my family and service my student loan. One of the factors that often discourages prospective students from obtaining a loan is the interest rate and repayment.
Initially, when I got a loan, it came with an 8% interest rate and I was to start paying after my graduation. However, some new policies were put in place and the interest rate increased to 13% and I had a time frame of about 20 years to pay the loan. After my graduation, when I was ready to start repayment, I was able to access refinancing options. Presently, “I was able to get a new loan and my interest rate is about 5.5%.” I’m also to pay it within the space of five years. This is much more reasonable than the original offer.
If I had the opportunity to choose again, I’d still choose Duke University. “Duke is a very beautiful school, a beautiful school of business in particular, that emphasizes team spirit.” I learnt how to build strong relationships with people because of the teamwork projects given at Duke University.” Beyond the academic learning, I also learned relevant skills needed to thrive not just at the workplace but the society at large. “I would say it was one of the best decisions of my life!”
For students considering studying abroad but struggling with funding, there’s a reliable solution:
MPower is a trusted international student loan provider. MPower offers loans of up to $100,000, specifically to cover educational expenses. One of the key benefits is that you won’t have to worry about repayment while studying; payments begin after graduation. Additionally, MPower provides flexible repayment plans, with terms extending up to 10 years. If you’re ready to start your student loan journey, reach out to us for expert guidance on the process.
This post was last modified on February 14, 2025 2:32 pm