If you do not want to take loan, then there are two options - 1. Pay the education cost yourself, 2. Get a scholarship.
In India, schools accepting GMAT scores have an MBA cost of 10 L - 20 L (I dont know about Great Lakes though). Please research on following programs and their fees if the loan is your biggest concern.
1. XLRI GMP - 5 yrs "managarial" experience required.
2. IIMC PGPEX - 5 yrs.
3. IIMA PGPX - 27 yrs of age.
4. IIMI EPGP - 5 yrs.
5. IIML IPMX - 6 yrs workex.
6. IIMB EPGP - 7 yrs workex.
7. ISB - 2 yrs workex.
Forgot to mention - the SP jain program also.
I have around 5 yrs of experience in the IT feild and a GMAT score of 700. I do not wish to spend the next 3-5 yrs paying off a loan on the MBA. What would be my best options for an MBA degree now. All advise and comments welcome.