The MBA or Masters in Business Administration is one of the most lucrative graduate degrees a student can pursue. According to the Graduate Management Admissions Council (GMAC) the average starting salary for MBA graduates was $115,000 in 2019.

However, MBA programs can also be quite expensive. On the high end, the Wharton School of Business at the University of Pennsylvania has a total cost of attendance of over $200,000. Luckily, there are a number of MBA scholarships that can help students pay for their MBA degree.

Jump ahead to:

• MBA Scholarships in 2020
• MBA Scholarships for women
• Summary of MBA Scholarships
• Expired MBA Scholarships

MBA Scholarships in 2020

Annual Black Entrepreneurship Grant

• Eligibility: Open to current or aspiring Black entrepreneurs undergraduate or graduate students across any field or business stage 
• Amount: $2,000
• Deadline: December 1

Forté MBA Fellowships

• Eligibility: Female students who are applying to Forté partner MBA programs
• Amount: Varies
• Deadline: Varies

Fund Your Future No Essay $1,000 Scholarship

• Eligibility: Open to graduate/masters students in STEM, Nursing, and Business majors within two years of graduating
• Amount: $1,000
• Deadline: July 31, 2021

Goldman Sachs MBA Fellowship

• Eligibility: First-year Hispanic/Latino, Native American, or women MBA students pursuing a 2021 Summer Associate position at Goldman Sachs
• Amount: Fellowship recipients receive a $35,000 award in addition to the Summer Associate salary. Upon successful completion of the summer internship and acceptance of a full-time offer, Fellowship recipients will be awarded an additional $40,000, plus any full-time Associate signing bonus
• Deadline: March 28, 2021

Hertz Fellowship

• Eligibility: Hertz Fellowships include up to five years of funding (including living expenses) for research, mentoring, and workshops
• Amount: Up to $250,000
• Deadline: October 20, 2020

Military MBA Scholarship

• Eligibility: Veterans of the US Military who are MBA applicants
• Amount: $20,000
• Deadline: October 15th

National Association of Black Accountants Scholarships

• Eligibility: Students must be black and members of NABA enrolled or accepted to a master’s program in business.
• Amount: Varies
• Deadline: Varies

Paul and Daisy Soros Fellowships for New Americans

• Eligibility: Fellowships are open to college seniors, current graduate students, or prospective graduate students.
• Amount: $90,000 over two years
• Deadline: October 29, 2020

SHRM Graduate Scholarship

• Eligibility: Students who are currently attending or have been accepted to a graduate program that is related to Human Resources
• Amount: $5,000
• Deadline: August 14 (Application opens in May 2021)

MBA Scholarships for women

Forté MBA Fellowships

• Eligibility: Female students who are applying to Forté partner MBA programs
• Amount: Varies
• Deadline: Varies

Goldman Sachs MBA Fellowship

• Eligibility: First-year Hispanic/Latino, Native American, or women MBA students pursuing a 2021 Summer Associate position at Goldman Sachs
• Amount: Fellowship recipients receive a $35,000 award in addition to the Summer Associate salary. Upon successful completion of the summer internship and acceptance of a full-time offer, Fellowship recipients will be awarded an additional $40,000, plus any full-time Associate signing bonus
• Deadline: March 28, 2021

Summary of MBA scholarships

1. Annual Black Entrepreneurship Grant
2. Forté MBA Fellowships
3. Fund Your Future No Essay $1,000 Scholarship
4. Goldman Sachs MBA Fellowship
5. Military MBA Scholarship
6. Hertz Fellowship
7. Paul and Daisy Soros Fellowships for New Americans
8. SHRM Graduate Scholarship

Expired scholarships

Orbis MBA Fellowship

• Eligibility: Incoming MBA students who are interested in investment management
• Amount: $15,000
• Deadline: May 28th