Are you looking for how to study MBA for free in the US? Well, the best way to get into the MBA program for free is through a full MBA scholarship program. America is known as one of the countries best for MBA with scholarships, if you’ve been looking for schools that give full scholarships for MBA, this guide is specially made for you.
The cost of pursuing an MBA degree in the USA can be quite steep, with many students struggling to pay for their education. Fortunately, there are numerous scholarship programs available that can help alleviate the financial burden.
These scholarship programs are available to students from diverse backgrounds, including international students, and cover various expenses such as tuition fees, living expenses, and other related costs. The scholarships are awarded based on different criteria, including academic merit, financial need, leadership potential, and community involvement. With so many options available, students can find a scholarship program that aligns with their interests and goals.
Here are the 17 best MBA scholarship programs in the USA that students can apply for:
If you’re interested in applying for MBA scholarships in USA, consider any of the following opportunities for scholarships abroad or as a citizen of the United States of America.
1. Fulbright Program
The Fulbright Program is a prestigious scholarship program that provides funding for graduate students, including those pursuing MBA degrees. The program is sponsored by the U.S. Department of State and is designed to promote mutual understanding between the United States and other countries.
Fulbright scholarships are awarded based on academic merit and leadership potential. Recipients receive funding for tuition, fees, and living expenses, as well as travel expenses to and from the United States. In addition, Fulbright scholars have access to a variety of resources, including cultural enrichment activities, language training, and academic advising.
2. Humphrey Fellowship Program
The Humphrey Fellowship Program is another federal scholarship program that supports graduate students pursuing MBA degrees. The program is sponsored by the U.S. Department of State and is designed to provide professional development opportunities to mid-career professionals from around the world.
Humphrey Fellows receive funding for tuition, fees, and living expenses, as well as travel expenses to and from the United States. In addition, fellows have access to a variety of resources, including leadership development training, mentoring, and networking opportunities.
Overall, federal and state-sponsored MBA scholarship programs are a valuable resource for students pursuing their MBA degrees. These programs provide financial assistance and other resources to help students achieve their academic and professional goals.
3. Harvard Business School Scholarships
Harvard Business School provides a range of financial aid options to MBA students, including need-based fellowships, merit-based scholarships, and loan programs. The school awards over $31 million in scholarship funds each year to around 50% of its MBA students. Some of the scholarships available at Harvard Business School include the Baker Scholars Program, the John H. McArthur Fellowship, and the Robert S. Kaplan Life Sciences Fellowship.
4. Stanford Graduate School of Business Fellowships
Stanford Graduate School of Business offers a range of fellowships to MBA students, including the Stanford Reliance Dhirubhai Fellowship, the Stanford Africa MBA Fellowship, and the Stanford USA MBA Fellowship. These fellowships are designed to support students from diverse backgrounds, including those from low-income families, underrepresented groups, and developing countries. Stanford Graduate School of Business also offers need-based financial aid and loan programs.
5. Wharton MBA Fellowship Program
The Wharton MBA Fellowship Program is a merit-based scholarship program that provides full tuition and a living stipend to selected MBA students. The program is designed to attract students with exceptional academic and professional backgrounds who demonstrate leadership potential and a commitment to making a positive impact in their communities. The fellowship is renewable for a second year, subject to satisfactory academic performance.
6. The Gates Millennium Scholars Program
The Gates Millennium Scholars Program is one of the most prestigious scholarship programs in the USA. It was established in 1999 with a $1 billion grant from the Bill and Melinda Gates Foundation. The program aims to provide financial assistance to outstanding minority students who have demonstrated academic excellence and leadership skills.
The scholarship covers the full cost of tuition, fees, room, and board for undergraduate and graduate studies. In addition, it provides funding for books, supplies, and transportation. The program also offers mentoring, leadership development, and networking opportunities to help students achieve their academic and career goals.
7. The Ford Foundation Fellowship
The Ford Foundation Fellowship is another private foundation scholarship that provides funding for MBA students in the USA. The fellowship is awarded to outstanding students who are committed to promoting social justice and equity in their communities.
The fellowship provides full tuition and stipend support for up to three years of graduate study. It also offers opportunities for professional development, mentoring, and networking with other fellows and scholars.
8. Rotary International MBA Scholarships
Rotary International offers a scholarship program for international students pursuing an MBA program in the USA. This scholarship is available to students who are members of a Rotary club or have a close relative who is a member. The scholarship covers tuition fees, accommodation, and living expenses for one year of study. Applicants must demonstrate a commitment to community service and have a minimum of two years of work experience in their field.
9. The Joint Japan/World Bank Graduate Scholarship Program
The Joint Japan/World Bank Graduate Scholarship Program is a scholarship program for students from developing countries pursuing a master’s degree in development-related fields, including MBA programs. The scholarship covers tuition fees, a monthly living allowance, round-trip airfare, and health insurance. Applicants must be under the age of 45 and have a bachelor’s degree with a minimum of three years of work experience in development-related fields.
International students seeking to pursue an MBA program in the USA can benefit from these scholarship programs to fund their education.
10. National Black MBA Association Scholarships
The National Black MBA Association offers several scholarship programs for African American students pursuing an MBA. The scholarships are open to both men and women and are awarded based on academic achievement, leadership potential, and community involvement. The amount of the scholarship varies depending on the program, but can range from $1,000 to $15,000.
11. Forté Fellows Program
The Forté Foundation is a non-profit organization that is dedicated to advancing women in business. The Forté Fellows Program is a scholarship program that is open to women who are pursuing an MBA at one of the participating business schools. The scholarship covers up to 50% of tuition and fees and is awarded based on academic excellence, leadership potential, and commitment to advancing women in business.
12. Consortium for Graduate Study in Management Awards
The Consortium for Graduate Study in Management offers merit-based MBA scholarships to underrepresented minorities. The award covers full tuition and fees, a yearly stipend, and access to networking opportunities. The program is highly competitive, with only a few dozen scholarships awarded each year. Applicants must have a minimum of two years of work experience and a bachelor’s degree from an accredited institution.
13. QS Leadership Scholarship
The QS Leadership Scholarship is a merit-based scholarship for MBA students who have demonstrated leadership potential. The award covers up to $10,000 in tuition fees and is open to students from all countries. Applicants must submit an essay outlining their leadership experience and how they plan to use their MBA to further their career goals. The scholarship is awarded based on academic merit and the strength of the applicant’s essay.
These are just two examples of the many MBA scholarship programs available to students based on merit and need. Students are encouraged to research and apply to as many programs as possible to increase their chances of receiving financial aid for their MBA studies.
14. Post-9/11 GI Bill
The Post-9/11 GI Bill is a scholarship program that provides financial assistance to military personnel who have served on active duty for at least 90 days after September 10, 2001. The scholarship covers up to 100% of the tuition and fees for a public school, and up to a certain amount for a private school. It also provides a monthly housing allowance and an annual stipend for books and supplies.
To be eligible for the Post-9/11 GI Bill, military personnel must have served on active duty for at least 90 days after September 10, 2001, and must have received an honorable discharge. The amount of financial assistance provided depends on the length of service, the type of school, and other factors.
15. Yellow Ribbon Program
The Yellow Ribbon Program is a scholarship program that provides additional financial assistance to military personnel who are eligible for the Post-9/11 GI Bill. The program is offered by participating universities, and it covers the remaining tuition and fees that are not covered by the Post-9/11 GI Bill.
To be eligible for the Yellow Ribbon Program, military personnel must be eligible for the Post-9/11 GI Bill at the 100% level, and the university must also participate in the program. The amount of financial assistance provided by the program varies depending on the university and the MBA program.
16. McKinsey & Company Emerging Scholars Program
The McKinsey & Company Emerging Scholars Program is a highly competitive scholarship that selects up to 10 first-year MBA students from diverse backgrounds. The scholarship covers full tuition and fees for the second year of the MBA program and provides a $5,000 stipend. In addition, recipients receive mentorship from McKinsey consultants and a guaranteed interview for a summer internship with the company. The scholarship is open to US citizens and permanent residents who demonstrate academic excellence, leadership potential, and a commitment to diversity.
17. Goldman Sachs MBA Fellowship
The Goldman Sachs MBA Fellowship is a merit-based scholarship that provides financial assistance to second-year MBA students who have demonstrated outstanding academic and leadership achievements. The scholarship covers full tuition and fees for the second year of the MBA program and provides a $35,000 stipend. In addition, recipients receive a summer internship with Goldman Sachs and mentorship from the company’s executives. The scholarship is open to US citizens and permanent residents who have a strong interest in finance and investment banking.
Conclusion
Pursuing an MBA degree in the USA can be quite expensive. However, there are numerous scholarship programs that can help ease the financial burden. The 10 best MBA scholarship programs in the USA listed above offer a range of opportunities for students from different backgrounds and fields of study.
It is important to note that these scholarship programs have varying eligibility criteria and application processes. Therefore, it is recommended that students thoroughly research each program before applying. Additionally, students should ensure that they meet the requirements and deadlines for each scholarship program.
