MBA Scholarships for International Applicants
MBA Scholarships for International Applicants
If you want to apply to a US or other top MBA program, then attending a business school can cost a fortune. Furthermore, top MBA programs in US can cost anywhere between 100,000 and 150,000 US dollars (European MBA are a bit cheaper), therefore obtaining funding is a crucial factor in deciding whether to attend B-school or not.
There is a misconception
…..amongst applicants from non-US countries that B schools in US do not offer funding to int’l students. However nearly all top programs do offer partial funding to some of its admitted students.
Getting into a top program is itself difficult and being able to secure full funding is an even greater one, since these awards are extremely limited. Nevertheless, there is a much higher probability of getting partial funding or tuition waivers.
THE TOP 25 BUSINESS SCHOOLS GIVE OUT $230 MILLION OR MORE IN MBA SCHOLARSHIPS EVERY YEAR
Before I go on
….. to mention the programs where financial aid is offered, it is important to keep a few points in mind. In my search for MBA programs that offer full funding, I found that almost all of the business schools mentioned a high GMAT score and strong academic background as prerequisites for qualifying for a scholarship.
Work experience is often one of the requirements when applying to a MBA so obviously that is already factored in the decision. Plus, an important criterion was maturity and dedication.
You will stand out if
….. the business school can see how you have persevered, set goals and acted to achieve them. You might be among the very few lucky ones who can satisfy these conditions and get funding, but if you are not then you might have to plan a bit more in order to afford a MBA.
The following is the list of programs which offer funding for an MBA degree. In all cases applicants will have to use multiple ways to cover cost of attendance where full funding is not available. This can be done through loans, partial scholarships, sponsorship by employer and so forth.
1. Harvard Business School
The Boustany Foundation is the most noteworthy MBA funding. It offers a fully funded scholarship for MBA at Harvard. A candidate can have any nationality. Other than this, there are a few partial fellowships and need-based fellowships.
2. Stanford Graduate School of Business
Stanford does not have full scholarships for MBA students, however there are several partial awards. The Knight-Hennessy Scholarship is open to all graduate school applicants and covers the whole cost of the program i.e. tuition along with living expenses.
3. The University of Chicago Booth School of Business
Multiple fellowships are available and in some cases there is a possibility of getting full tuition waiver such as the Wallman Fellowship.
4. Yale School of Management
Yale offers a number of full tuition scholarships for the MBA program. It is noted on their website that up to 18 full tuition scholarships are awarded and consequently 1 out of every 3 admitted students receives some sort of a scholarship.
5. Columbia Business School
At Columbia admitted students can be awarded fellowships covering full tuition. Especially relevant, those students who do not get funding in the first year can apply for the second year fellowships.
6. Haas School of Business at University of California Berkeley
The Haas School offers a number of scholarships to entering students covering various amounts. Moreover, a few such as the Dean’s Fellowship can cover the full cost of attending.
7. NYU Stern School of Business
A number of partial to full tuition awards are available at the Stern School. A specific award, William R. Berkley Scholarship, for graduating seniors provides full funding.
8. SDA Bocconi School of Management
At Bocconi a number of partial and full tuition waivers are available, however, these are very limited in number.
9. Luiss Business School
The school has a number of full tuition awards. There are a number of opportunities for women especially such as the MBA Scholarship for Women and Grow Fast Project.
10. Olin Business School, Washington University in St. Louis
Merit-based dean’s scholarships offer partial and full tuition waivers along with some specific fellowships as well.
11. Carlson School of Management, University of Minnesota
The Carlson School has a number of merit-based fellowships and scholarships. Most cover partial to full tuition, however, full funding can be secured under the Carlson School Deans and Fellows Awards which can award full tuition plus stipend.
12. The University of Texas at Austin, McCombs School of Business
The website for the McCombs School does not provide details about the number of scholarships. However, it is mentioned that partial to full tuition awards are available.
13. Tuck School of Business at Dartmouth
The school website does not mention any fully funded scholarships, however, there are scholarships that range from $5000 to full tuition.
14. Tepper School of Business, Carnegie Mellon University
A number of fellowships based on leadership and merit are available many of which offer full tuition awards.
15. Darden School of Business, University of Virginia
The university offers a number of partial and full tuition merit scholarships, in addition to fully funded Darden Jefferson Fellowship.
16. Mendoza College of Business, University of Notre Dame
Merit-based fellowships is available to incoming students. There is also a possibility to get full funding from the Meyer Fellows award.
17. Kelley School of Business, Indiana University
Funding in the form of merit scholarships, fellowships and assistantships is available. The merit will cover partial to full tuition fee.
18. Kenan-Flagler Business School, University of North Carolina at Chapel Hill
The available funding covers full tuition plus a stipend, full tuition fellowships and partial tuition fellowships.
19. Goizueta Business School, Emoy University
There are a number of scholarships which offer full tuition. In addition, the Robert W. Woodruff Scholars receive full tuition and an annual stipend.
20. Georgia Tech, Scheller College of Business
More than 50 percent of Full-time MBA students received funding. Majority of funding is given to those who apply in rounds one and two.
This list is not exclusive and you may be able to find programs that offer funding for a MBA degree, however, this list can help you in your search for MBA programs that offer funding.