Don’t let high graduate tuition costs discourage you from advancing your career. It’s true that there isn’t as much financial aid for graduate students as undergraduate degree students. But there’s still some federal government financial aid on the table. Additionally, third party financial aid, through scholarship programs is also available. Third party scholarships are essentially free money. They take relatively little time to apply for when considering the return on investment. They can be the equivalent to weeks of hard work in value. That’s what this article focuses on. MBA degree program scholarships can help alleviate the monetary burden. Many organizations sponsor free scholarship programs for Master of Business Administration students. There’s not as much support for international students unless they are already at least permanent residents. Earning an master’s degree will provide an edge in today’s competitive global economy. MBA specializations at business school cover anything you can think of. Specializations range from accounting and logistics to organizational management and marketing. Make sure you check with your company’s HR department about professional development benefits.
Spending one to three years fine-tuning your leadership skills can add to your resume for any field. The MBA is perfect for that. There’s a good reason why the MBA is the most popular master’s degree nationwide. Job market forecasts the hiring of MBA graduates will spike by 16 percent! Make sharpening your business acumen for mid- to upper-level management more affordable with these scholarships for MBAs. Keep in mind that the cost of your program also matters. Top MBA programs like the one at Columbia University are prestigious, sure. But there are similar programs around the country at half the price or less.
Note: Scholarship requirements and deadlines are always in flux. Please verify all information through each organization’s website when considering application.
MBA Scholarships Ranked
1. AIET Graduate Scholarship
The Appraisal Institute Education Trust offers a $2,000 Graduate Scholarship annually. It’s for MBA students specializing in real estate, appraisal, and land economics. Applicants must be enrolled full-time or part-time at accredited U.S. business schools. They must exhibit strong academic merit and have completed an appraisal internship. They must submit two recommendation letters. Finally, they must write a 200-word personal statement discussing real estate career aspirations.
Contact
AIET Graduate Scholarship
200 West Madison Suite 1500
Chicago, IL 60606
(312) 335-4133
educationtrust@appraisalinstitute.org
Scholarship Link
2. Cathy L. Brock Memorial Scholarship
The Institute for Diversity in Health Management offers the Cathy L. Brock Memorial Scholarship. The $1,000 award is for racial minority students who are pursuing an MBA, MHA, or similar graduate program in health services management. Candidates must be naturalized U.S. citizens. They must attend an accredited graduate school. Applicants should have a cumulative GPA above 3.0 and demonstrate unmet financial need. They must show genuine commitment to a healthcare finance career. If you’re planning to get an MBA and work in healthcare, this scholarship is a great option.
Contact
Cathy L. Brock Memorial Scholarship
155 North Wacker Avenue
Chicago, IL 60606
(312) 422-2658
cbiddle@aha.org
Scholarship Link
3. Credit Suisse MBA Fellowship
As a leading global wealth manager, Credit Suisse offers the MBA Fellowship. It provides female and ethnic minority graduate students $15,000 for their first year. Then $30,000 for their second year of an accredited, full-time MBA program. Eligible fellows must attend a participating U.S. business school. They must have proven leadership skills. Applicants should plan to pursue investment banking careers and exhibit academic achievement. Recipients also earn a summer internship at Credit Suisse offices in Chicago, Houston, Los Angeles, New York, or San Francisco.
Contact
Credit Suisse MBA Fellowship
11 Madison Avenue
New York, NY 10010
(212) 325-2000
campus.diversity@credit-suisse.com
Scholarship Link
4. CVS Pharmacy Inc. Business Scholarships
The CVS Pharmacy Inc. Business Scholarships from the United Negro College Fund are valued at $5,000. Eligible are MBA students who are majoring in general business, management, finance, accounting, or human resources. Students must be African American and be U.S. citizens or permanent residents. They must be attending an accredited master’s-level program. They must maintain a minimum overall GPA of 3.0, and have verified financial need. Other MBA scholarships to consider include the Wendell Scott Sr. Scholarship and Koch Scholars Program.
Contact
CVS Pharmacy Inc. Business Scholarships
1805 7th Street NW
Washington, DC 20001
(800) 331-2244
scholarships@uncf.org
Scholarship Link
5. Daniel B. Goldberg Scholarship
The Daniel B. Goldberg Scholarship is sponsored by the Government Finance Officers Association. It may provide $13,000 per year to full-time MBA students. The focus of applicants should be preparing for management careers in state or local government finance. Eligibility criteria for this scholarship for MBA students requires students to hold a bachelor’s degree. They must be U.S. or Canadian citizens and have work experience in the public sector. They must maintain a minimum GPA of 3.0 and be recommended by their MBA program’s dean.
Contact
Daniel B. Goldberg Scholarship
203 North LaSalle Street Suite 2700
Chicago, IL 60601
(312) 977-9700
rkotchen@gfoa.org
Scholarship Link
6. Dr. James Watson Graduate Scholarship
Annually, the Sports Turf Managers Association (STMA) offers the Dr. James Watson Graduate Scholarship. It’s valued at $1,250. Eligible are outstanding master’s students, including MBAs, who are studying sports management or administration. Qualified candidates for this scholarship for MBA students must be STMA members. They must enroll in at least six credits per term at an accredited U.S. graduate program. Applicants must have at least one or more semesters remaining in their program. They must maintain good academic standing and plan a career in the sports turf industry.
Contact
Dr. James Watson Graduate Scholarship
805 New Hampshire Suite E
Lawrence, KS 66044
(785) 542-9243
kalthouse@stma.org
Scholarship Link
7. Eric Jenett Memorial Scholarship
The Project Management Institute Educational Foundation administers the Eric Jenett Memorial Scholarship. This scholarship awards $2,000 annually. Eligible candidates are promising graduate students who are pursuing a Master of Business Administration or management degrees. To apply, candidates must have completed an accredited bachelor’s program. They also must be currently enrolled in a degree-granting program. They must exhibit academic achievement. Other scholarships for MBAs include the James Rankin Memorial Scholarship and Gaylord Chirstle Scholarship.
Contact
Eric Jenett Memorial Scholarship
14 Campus Boulevard
Newtown Square, PA 19073
(610) 356-4600
pmief@pmi.org
Scholarship Link
8. New England Water Works Association
MBA students studying business to enter the water resource management industry could qualify for a number of different awards from NEWWA. Eligible members must reside in, Massachusetts, New Hampshire, Connecticut, Vermont, Maine, or Rhode Island. Or they must attend an accredited senior college in these states. By the deadline, applicants for this scholarship for MBA students must submit official transcripts and two letters of recommendation. They must submit their FAFSA forms. Applicants should include a current resume and include a one-page career aspirations essay.
Contact
NEWWA Scholarships and Awards
125 Hopping Brook Road
Holliston, MA 01746
(508) 893-7979
PizanoL@BV.com
Scholarship Link
9. John L. Carey Scholarship Program
The American Institute of CPAs hosts the John L. Carey Scholarship Program. The award is $5,000 for five graduate students. They must be pursuing Master of Accountancy or MBA in Accounting degrees from accredited, top-tier business schools. To qualify, applicants must have completed a non-business liberal arts major. They must have less than 12 accounting credits. They must also be pursuing the 150-hour requirement for CPA licensure. Recipients must maintain full-time enrollment and have some financial need. They must be AICPA student affiliate members. This scholarship is for students with no business background making the transition to accounting.
Contact
John L. Carey Scholarship Program
1455 Pennsylvania Avenue NW
Washington, DC 20004
(202) 737-6600
scholarships@aicpa.org
Scholarship Link
10. Joseph R. Stone Scholarship
Deadline: May 13th
The Joseph R. Stone Scholarship is administered by Tourism Cares. The $2,000 scholarship is awarded annually to one full-time or part-time graduate student pursuing master’s degrees in hotel administration, hospitality management and travel management. MBA concentrations in this subjects qualify for the scholarship. Eligible U.S. or Canadian citizens must be entering an accredited graduate school this upcoming fall. They must have a minimum undergraduate GPA of 3.0 for taking tourism-related courses. Other MBA funding options include the Eric Friedheim Scholarship and Avis Budget Group Scholarship.
Contact
Joseph R. Stone Scholarship
675 North Washington Street
Alexandria, VA 22314
(781) 821-5990 ext. 214
trish.kelly@tourismcares.org
Scholarship Link
11. LAGRANT Foundation Graduate Scholarships
Deadline: February 29th
The LAGRANT Foundation Graduate Scholarships are available for ethnic minority students. They must be pursuing MBA programs with an emphasis in advertising, marketing, or public relations. For the $5,000 award, candidates must be U.S. citizens or legal residents. They must carry at least 12 units per semester. Students must maintain a minimum cumulative 3.2 GPA. Applicants must have at least two academic terms remaining and study at four-year, accredited institutions. Recipients must make a one-year commitment to maintaining contact with TLF.
Contact
LAGRANT Foundation Graduate Scholarships
633 West 5th Street 48th Floor
Los Angeles, CA 90071
(323) 469-8680
erickainiguez@lagrant.com
Scholarship Link
12. Military MBA Scholarships
Deadline: August 15th
Based on academic merit, the Military MBA Scholarships are offered annually for $5,000 to four honorably discharged Armed Forces service members. They must be who are returning stateside and pursuing accredited Master of Business Administration programs in any discipline. Eligible applicants for this scholarship for MBA students must be U.S. citizens. They must hold a bachelor’s degree and attend one of the participating graduate business schools. Applicants must attach two letters of recommendation and submit military service records. Member colleges include Arizona State, Georgetown, Penn State, Texas A&M, and more.
Contact
Military MBA Scholarships
P.O. Box 681234
Salt Lake City, UT 84068
(435) 649-2190
geisenbarth@militarymba.net
Scholarship Link
13. NARA Business Aviation Scholarships
Deadline: October 31st
Each year, the National Aircraft Resale Association presents its Business Aviation Scholarships. They’re for $1,000 to $5,000 to full-time graduate students. This includes MBA students, who are earning degrees in aviation management, marketing, economics, or finance. To qualify applicants must be U.S. citizens. They must also carry at least nine credits per semester. Students need to maintain a cumulative GPA above 3.0 and show potential for entering the aviation business industry.
Contact
NARA Business Aviation Scholarships
P.O. Box 92013
Southlake, TX 76092
(866) 284-4744
devri@NARAaircraft.com
Scholarship Link
14. NBMBAA Graduate Scholarship
Deadline: June 24th
The National Black MBA Association’s (NBMBAA) Graduate Scholarship offers scholarships up to $10,000. The awards are distributed for full-time or part-time African American master’s students. They must be attending U.S. graduate schools, preferably AACSB-accredited. Successful candidates must be financially active NBMBAA members. They must have U.S. or Canadian citizenship. Applicants should excel academically with a minimum 3.0 GPA. They must demonstrate exceptional leadership ability and submit a professor recommendation. More funding is available specifically for Brandeis, Northeastern, and Simmons students.
Contact
NBMBAA Graduate Scholarship
400 West Peachtree Street NW
Atlanta, GA 30308
scholarship@nbmbaa.org
Scholarship Link
15. QS Leadership Scholarship
Deadline: May 31st
The QS Leadership Scholarship is worth $10,000 each year. It’s awarded to full-time or part-time Master of Business Administration students. They must have attended the QS World MBA Tour or QS World Executive MBA Tour within the last 12 months. Applicants must be accepted into a top-tier business school. They must also display great leadership potential, and demonstrate innovative thinking. Students will complete the QS Applicant Survey. They also must submit a 750-word essay describing how their leadership has impacted the community.
Contact
QS Leadership Scholarship
1355 NW Everett Suite 100
Portland, OR 97209
(971) 279-4406
onlinesupport@qs.com
Scholarship Link
16. Reaching Out LGBT MBA Fellowship
Deadline: Varies
Reaching Out MBA is a national foundation awarding $10,000 fellowships each year. They go to MBA students who self-identify as lesbian, gay, bisexual, or transgender. Interested applicants must attend participating AACSB-accredited business schools. Example schools include Carnegie Mellon, Duke, Cornell, Columbia, Harvard, and Ohio State. Applicants must have leadership experience. They must engage in on-campus clubs, and achieve high GMAT scores. Recipients also earn an all-expense paid trip to the Annual ROMBA Conference
Contact
Reaching Out LGBT MBA Fellowship
P.O. Box 515381
Los Angeles, CA 90051
(424) 209-8882
registration@reachingoutmba.org
Scholarship Link
17. ICSC Scholarships
ICSC offers four graduate-specific scholarships ranging from $5,000 to $10,000 awards. Additionally there are also two scholarships open to both undergraduate and graduate students. Both award $10,000. Application methods and requirements vary. Some require U.S. or Canadian citizenship while others do not state that as a requirement. Some require video submissions as part of the application process. It all depends on which scholarship you’re applying for. Some of the scholarships are specifically designated for BIPOC or LGBT students while others are more widely available. Check out the website for more details.
Contact
ICSC
1251 Avenue of the Americas,
45th Floor
New York, NY 10020
1-844-728-ICSC
membership@icsc.com
Scholarship Link
18. Robert H. Rumler MBA Scholarship
The Holstein Association USA honors its former Executive Secretary by awarding the Robert H. Rumler MBA Scholarship. It’s value is $3,000. Qualified individuals must be pursuing a master’s degree in business administration full-time. They must hold a bachelor’s in dairy production. They should rank in the upper one-third of their graduating class. They must intend to apply management training in the U.S. agricultural community. Heavy preference is given to applicants with several years of work experience.
Contact
Robert H. Rumler MBA Scholarship
1 Holstein Place
P.O. Box 808
Brattleboro, VT 05302
(800) 952-5200
Scholarship Link
19. Ritchie-Jennings Memorial Scholarship Program
This scholarship program is open to students dedicated to an anti-fraud career path. Awards range from $2,000-$10,000. Students must be dedicated to studying a subject related to fraud. This includes accounting, business administration, finance, criminal justice and more. The scholarships are available to both graduate and undergraduate students. They must be attending a regionally accredited 4-year college or university program. They must be in the second half of their sophomore year or later. They also must not be graduating in the current year.
Contact
Association of Certified Fraud Examiners
The Gregor Building
716 West Ave.
Austin, TX 78701
(800) 245-9000
MemberServices@ACFE.com
Scholarship Link
20. Toigo Foundation MBA Fellowships
This fellowship is for African Americans, Asian American, Pacific Islander, Hispanic, Native American, and Alaskan Native students. The Toigo Foundation offers $5,000 MBA Fellowships annually to develop professional careers in the finance industry. Qualified minority students must be accepted into a two-year, full-time MBA program based in the United States. The 50+ finalists who pass the application and Skype interview process will receive one-on-one career guidance and attendance at the MBA Catapult Event.
Contact
Toigo Foundation MBA Fellowships
180 Grand Avenue Suite 450
Oakland, CA 94612
(510) 763-5771
apply@toigofoundation.org
Scholarship Link
According to GMAT survey data, full-time MBA graduates reap an average salary increase of 81 percent post-degree. Spending time in B-School gives MBAs a median starting salary of $100,000, in comparison to $55,000 for bachelor’s graduates. Having a Master of Business Administration also qualifies you for C-suite executive positions where the average income is $230,000! Investing in graduate school is smart as long as you don’t borrow monstrous levels of student loans. Keep your degree ROI high by selecting some of these MBA scholarships for free funding.
GCD Staff
2023
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