MBA scholarships in USA- Before heading to a country like the USA, one must know beforehand what the country has to offer - both in terms of education and costs involved. The USA, being a dominant study abroad hub, is conveniently the first choice of many MBA aspirants across the globe.Studying MBA in the USA is, no doubt, an expensive affair. Tuition fee for some of the top business schools in the USA may be over $60,000 annually. And this excludes the living expenses. However, top universities in the USA offer a wide range of financial services. Scholarships and fellowships are the most common financial assistance. Therefore, applicants are likely to find some kind of financial assistance that meets their requirement. Many scholarships in the USA and fellowships are merit- based, while there are some others that target specific region, people and community.
Here, we bring you the MBA scholarships for foreign students in the USA.
Known for its academic reputation, Harvard Business School (HBS) makes sure its applicants receive financial help from the university. The business school has many fellowships to provide access to students with limited financial resources. Apart from this, applicants can also approach need-based fellowships, Horace W. Goldsmith Fellowship, Junior Achievement Fellowship, to name a few. According to Harvard, nearly 50% of its class receives an average of around $37,000 per year in need-based HBS Fellowships.
Fortunately, the fellowships are not merit or performance-based. These fellowships are purely offered on financial need of an applicant. The award is based on applicant’s income three years prior to enrolling in the MBA programme at the Harvard Business School.
The deadline to the fellowships is similar to deadlines of the MBA programme.
MBA scholarships for foreign students in USA- Harvard Business School
Horace W. Goldsmith Fellowship
For MBA applicants from non-profit sectors.
$10,000 for first year students
The Robert S. Kaplan (MBA 1983) Life Sciences Fellowship
All MBA applicants
$20,000 for first year only
Junior Achievement Fellowship
Applicants with at least two years’ experience in Junior Achievement
Apart from the need-based fellowships, Harvard Business School offers a number of fellowships that target certain applicants.To be eligible for such fellowships, applicants must apply for the MBA programme.
According to Stanford Graduate School of Business (SGSB), approximately half of MBA full-time programme students receive financial support, while two-thirds take loans to finance the programme. Fellowships provided by the business school are need-based and are designed for applicants who want to pursue MBA but have little financial means to do so. To be eligible for the Stanford GSB fellowships, one must have admission offer from the business school, while for Stanford Africa MBA Fellowship, applicants must be a citizen of Africa.
There is no particular deadline especially for the fellowships as applicants can apply for the scholarship at the time of admission for the MBA programme.
MBA scholarships in USA- Stanford Graduate School of Business
Stanford GSB Fellowships (Need-Based)
For MBA applicants
Stanford Africa MBA Fellowship
All MBA applicants from African countries
approximately US $150,000
Wharton Fellowship Program- MBA aspirants who wish to pursue MBA at University of Pennsylvania, Wharton, are offered a wide range of MBA scholarships for foreign students in the USA. The table below shows a list of fellowships available to MBA aspirants. The award amount is not fixed and is disclosed once the applicant is offered a seat in the university.
The deadline is similar to that of the MBA programme i.e., once the applicant secures a place in the university, he/she will be considered for one of the fellowships.
MBA scholarships for foreign students in USA- University of Pennsylvania: Wharton
Joseph Wharton Fellowships
Applicants with outstanding academic records
Howard E. Mitchell Fellowships
All MBA applicants from underrepresented populations
Emerging Economy Fellowships
MBA applicants from emerging economies
Female MBA applicants
LGBT MBA applicants
Social Impact Fellowships
Students with leadership qualities
One of the top business schools in the USA, MIT Sloan offers several fellowships and scholarships for its incoming students. Each fellowship and award targets different applicants and awards amount accordingly. Some of the fellowships offer specific scholarship amounts, while others offer tuition waiver.
The fellowships are not merit-based, though some fellowships require applicants to showcase leadership qualities.
Applicants are automatically considered for the fellowships at the time of admission into the programme. Therefore, there is no deadline to apply for fellowships.
MBA scholarships for foreign students in USA- MIT Sloan
Is disclosed once selected
MBA applicants with leadership qualities
MIT Public Service Center Fellowships
For MBA applicants who must work with supervisor
MIT Sloan Social Impact Fellowships
Yellow Ribbon GI Education Enhancement Program
Veterans of U.S Military
Two types of scholarships can be sourced in Haas - Institutional scholarships from Haas and from external organisations. According to Haas School, it had awarded over $3.4 million in scholarships to domestic and international students in 2015-2016. Some of the available MBA scholarships for foreign students in the USA are Haas Achievement Awards, Berkeley MBA Grants and Marketing Scholarships, among others.
MBA scholarships for foreign students in USA- Haas School of Business- UCB
Haas Achievement Awards
MBA applicants who have achieved success despite obstacles
MBA applicants who show their ability in promoting diversity
MBA applicants pursuing career in Marketing
Berkeley MBA Grants
For MBA applicants with significant financial need
$20,000 to $60,000
CJ White Fellowships (Finance)
MBA applicants pursuing careers in Finance
up to $50,000
Dr. Tahir Fellowships
MBA applicants who complete their UG in Asia
Mike and Carol Meyer Fellowships (Entrepreneurship and Engineering/Science interests)
All successful MBA applicants who have an UG degree in engineering or science
The Coan Torres Family Fellowship
All successful MBA applicants
The Tirado Fellowship
Awarded based on proven ability to promote diversity
Award is dependent upon available pay-out.
The Blue Duck Scholarship
MBA applicants who have received an UG degree from University of Oregon
The Ulatowski Fellowship
MBA applicants who completed UG degree in Poland
Covers tuition cost and fees
According to Yale School of Management, nearly 73% of students enrolled in the MBA programme receive financial aid. Yale offers a wide range of scholarships. Applicants are automatically considered for merit- based scholarships and are notified at the same time when they are offered a place in the university. This means applicants need not apply separately for the scholarship, and the deadline for the scholarship is similar to the deadline of the MBA programme.
MBA scholarships for foreign students in USA- Yale School of Management
Joseph Wright Alsop (Ph.B. 1898) Memorial Scholarship
Conley Brooks ’44 B.A. Family Scholarship
MBA applicants, preference given to students from Minnesota.
Award for two years of study
MBA applicants from Africa, China, Russia and China.
Bank of America Scholarship
U.S Military veterans and second preference is given to students who worked in non-profit organisations.
George G. Brooks, Jr. (B.A. 1931) Fellowship
John G. Conley ’85 Scholarship
The Professor David Berg Leadership Scholarship
MBA applicants who have demonstrated commitment to effectiveness of organisational life.
Robert C. Busch (Class of 1954) Scholarship
MBA applicants who are selected for the Silver Scholars program at Yale.
Camp Family Scholarship
Applicants enrolled at Yale School of Management, Yale Law School.
University of California, Los Angeles (UCLA), offers several options to manage students’ financial requirements during their MBA programme. According to UCLA, nearly 75% students, once admitted, consider one of the financial assistances on offer depending on their academic background. Further donor fellowships are also available, thanks to foundations, alumni, corporate and single donors.
The scholarship deadline is same as for admission. The candidates are considered for the fellowship as soon as they are offered seat in the management school.
MBA scholarships for foreign students in USA- UCLA School of Management
Applicants with excellent academic background
Covers two-year tuition fees and expenses
Applicants with no financial support
Covers a year's expense
New York University- Stern is known to provide some of the most prestigious scholarships to applicants from across the globe. According to Stern, approximately 20% of its full-time MBA students receive merit-based scholarships to pursue MBA. Each scholarship and fellowship caters to different applicants and offers generous amount to selected candidates. Stern offers financial assistance to exceptional college seniors, who want to be trained in business and second-year MBA students, among others. The award amount varies between different fellowships.
Applicants are eligible for scholarships as soon as they are offered a seat in the university.
MBA scholarships for foreign students in USA- New York University- Stern
Most meritorious admitted students
Full tuition fees and stipend
William R. Berkley Scholarship
Exceptional college seniors
Full two-year tuition fees, $18,000 housing stipend
Named Faculty Scholarship
Meritorious students who are paired with renowned faculty
Full tuition fees
Selected candidates who have excellent academic background
Full tuition fees for one year
Howard Gilman Foundation Scholarship
Applicants who had careers in performing arts and now plan to be trained in business
Donor Awards for Second-Year Students
Second-year MBA students
Merit-based, second year tuition fees.
The deadlines for the above scholarships are date of admission into the programme. To be eligible for any financial assistance, it is requisite to be offered a place to study MBA in New York University- Stern.
Chicago Booth offers only merit-based scholarships and awards. Hence, it is going to be a tough competition among applicants. However, apart from financial support, the university also offers further assistance: special programming and mentoring relationship with faculty and alumni.
The scholarships do not require any separate application, which means applicants are selected on the basis of admission to the university. There are few scholarships designed for applicants with work experience, while some are designed for excellent academic achievers.
MBA scholarships for foreign students in USA- Chicago Booth
Chicago Booth Merit-based Award
Award amounts vary
FortÃ© Foundation Fellowship
Full time MBA students with outstanding leadership qualities
The Harper Fellowships
MBA applicants who demonstrate outstanding performance in academic, leadership and extracurricular departments
Enid Fogel Scholarship
The Wallman Fellowship
Women from minority groups
Canfield Private Equity Fellowship
Applicants with prior experience in investment banking or private equity
Award amounts vary and an internship with private equity firm in Chicago
Herman Family Fellowship for Women Entrepreneurs
Women interested in entrepreneurship
Marvin Zonis International Scholarship
MBA applicants from emerging economy
Full-Time MBA students are eligible for merit-based scholarships at Columbia University. The award amount can range from $10,000 up to full tuition fee waiver. Apart from that, awards may be for one year and can be renewed. The university offers two types of scholarships: Merit-based and Need-based. Merit-based scholarships are designed for applicants with outstanding academic achievements, while the need-based scholarships are designed for applicants who have no means to pursue the full-time MBA programme at the university.
The scholarships do not have any particular deadline as it is considered at the time of admission to the programme.
MBA scholarships for foreign students in USA- Columbia University
i.FortÃ© Foundation Scholarship
ii. Toigo Fellowship
Under-represented groups pursuing careers in finance
$7,500 to $30,000
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