Here’s at least one piece of information no one will question: Business Schools tuition fees are on the rise. An overall increase (about 4% per year), and even exceptional for five years for top companies, which have increased their costs by an average of 20% per year. For example, the price of a business school has doubled in ten years.
At the same time, the courses are diversified, with bachelors, BBAs and a plethora of masters in different formats and durations, making the prices hard to read. To compare the costs charged by the establishments, the PGE (Grande Ecole program in three years, accessible after a preparatory lesson) serves as a benchmark. However, according to Major Prépa’s site, which has been conducting a price barometer for six years, the top four PGEs have easily crossed the €50,000 mark, or nearly €17,000 per year. Of course there was a small decrease in 2021, not in tuition fees, but in increase.
This is the result of a year 2020 marked by the Covid and violent protests from students who did not believe they had benefited from the Zoom video conferencing software of the promised quality of education. Their request for partial refunds was rejected by the schools, but tuition fees increased by only 2% the following year (2021).
Still on the rise
On the bachelor side, the most expensive remains that of ESCP BS, for which you have to pay 14,950 euros annually. Also striking are the BBAs, four-year bachelors, which are more international but also more expensive than their three-year cousins. That of EM Lyon charges the program 46,000 euros, or 11,500 euros per year.
Know the reason, save
“But we can be of top quality and remain accessible at reasonable prices,” says Françoise Roudier, director of ESC Clermont, whose bachelor’s degree costs – just – 7,500 euros a year. The cheapest of these programs can be found in the courses of the EGC network, which charges EUR 5800 per year.
Is the general increase justified? Business Schools respond to this demand by competing on an international stage populated by universities that are more expensive than they are, which is true (the price in the United States ranges from $25,000 to $60,000). They also point out that the chambers of commerce and industry (CCI), to which they belong, have dried up their financial contribution, which is also true.
But the differences are starting to become big between schools that are nevertheless comparable… “There is no rationality and no objective criterion to justify differences of more than 50% between the intended bachelors. What families buy for the most expensive is the brand, not a quality training supplement,” warns Françoise Roudier. Whether they are justified or not, will they be able to keep up this pace for a long time to come?
3 ways to reduce the cost of your course
Training in a management school is an investment. You have to think in terms of total costs, including the price of education but also the cost of living! Overview of ways to finance your three years.
Varied: this formula is almost always possible in the 3rd year. Because the apprenticeship system exempts you from tuition fees, you only have to pay for two more years. Some schools even offer it at the beginning of the course, but it is rarer.
Ask schools: Knowing full well that they are expensive, Business Schools have become experts in helping you with your student finances. They all have a foundation to award scholarships to students from humble backgrounds. Sometimes they have entered into partnerships with banks to guarantee your loans. Ask them for advice first!
Follow the helpers: there are all kinds, national and regional. Government aid will greatly help you to pay your rent. This is the case for the housing allowance APL, ALF and ALS.
You can run a simulation on www.caf.fr to discover all the measures for students and estimate their amount.