Cost and potential debt burden have always been big concerns for those considering business school, but upcoming research from the Graduate Management Admission Council suggests that the global economic downturn hasn’t made those financial concerns any more widespread.

About half of the 22,111 respondents to the 2010 mba.com Registrants Survey of potential graduate business students had financial reservations about pursuing a degree. Fifty-three percent said it might cost more than they had available, and 51 percent said they might have to assume substantial debt to pursue a degree. Although this survey was conducted during the depths of the current recession, in the calendar year 2009, the findings are remarkably similar to those from two years before.

“Even in the midst of the current economic situation, prospective students were no more nor less concerned about the financial implications of attending graduate business school then prospective students in 2007, when the global economy was still growing,” says Gregg Schoenfeld, GMAC associate director of research. “In fact, the proposed financing mix for business education was nearly identical.”

The 2010 survey findings, due later this month, delve into the opinions, needs, and preferences of potential graduate business students who registered on mba.com, the GMAC website for potential students and the portal for the GMAT exam. Among the insights are how economic concerns play into the business school decisions and how potential students plan to pay:

• Surveyed three months after they registered on mba.com, 97 percent of the respondents were still intent on pursuing a graduate business degree. Of the remaining respondents, 2 percent had postponed their plans, overwhelmingly citing financial concerns, and the final percent dropped their plans altogether, deciding they did not want to spend the time.
• Overall, more than half those who planned to go planned to use grants/fellowships/scholarships (59 percent), loans (also 59 percent), and personal earnings (52 percent) to pay for part of their education. In addition, 49 percent plan to use savings, 38 percent plan to get parental support, and 28 percent plan to use employer reimbursement programs.
• Men were more likely than women to plan to tap loans, earnings, and savings to pay for part of their education; women were more likely to plan to use grants and spouse/partner support.
• Younger respondents were more likely than older respondents to plan on using grants; older respondents were more likely to plan on employment reimbursement plans. Those 24 to 30 were more likely than other age groups to count on loans to finance part of their education.
• In an average breakdown of planned funding sources overall, loans accounted for the biggest portion, 26 percent, followed by grants, fellowships, or scholarships at 21 percent.