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Top 19 MBA Scholarships in June 2023
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. MBA programs can also be quite expensive. Luckily, there are a number of MBA scholarships that can help students pay for their MBA degree!
Keep on reading to learn more about how you can pay for your business degree with scholarships and fellowships!
Jump ahead to…
- Top MBA scholarships
- How to win MBA scholarships
- College-specific MBA scholarships
- How to pay for your MBA
- Frequently asked questions
- Explore these additional scholarship categories
Top 13 MBA Scholarships in June 2023
The Scholarships360 Research Team reviews all scholarships individually and strives to exclude any scholarship where any of the below applies:
- The scholarship requires a fee to apply
- The scholarship provider’s privacy policy allows for the misuse of student data
- The scholarship requires paid membership in an organization (with certain exceptions for reputable trade organizations and others)
- Student are required to sign up for a site or service to apply*
- The scholarship seems primarily used for lead generation** or idea harvesting purposes***
- The scholarship website has many grammatical errors and/or advertisements
- The scholarship or scholarship providing organization seem untrustworthy
- There is no evidence the scholarship was previously awarded
- The scholarship has not been awarded in the past 12 months
- There is no available contact information
If you believe a scholarship has been published in error, please reach out to [email protected] and we’ll take a look!
* There are certain exceptions to this, for example if the sponsoring organization is a major corporation or nonprofit with its own scholarship application system.
** Lead generation scholarships will require students to sign up for an app or website and require minimal (if any) application requirements.
***Idea harvesting scholarships will require students to submit blog posts or other materials that companies may use for marketing purposes.
“Follow Your Own Path” Essay Scholarship
At Scholarships360, our mission is to help students find and fund their postsecondary education. We know that students have a variety of educational and career…
At Scholarships360, our mission is to help students find and fund their postsecondary education. We know that students have a variety of educational and career…
At Scholarships360, our mission is to help students find and fund their postsecondary education. We know that students have a variety of educational and career interests and aspirations. That is why we are offering the “Follow Your Own Path” Essay Scholarship. This scholarship aims to support all current postsecondary students, regardless of the type of education they are pursuing. Thus, no matter your own unique educational path, we hope you apply for this $500 scholarship. In order to apply for the “Follow Your Own Path” Essay Scholarship, students must submit an essay about their career ambitions. As it is our goal to help out all types of postsecondary students who are actively looking for ways to fund their higher education journey, this $500 scholarship will be awarded to students based on both the quality of their essays and quantity of scholarships applied for on the Scholarships360 platform.
Eligibility information
Grade Level: College & Graduate Students
Citizenship: US Citizens, Permanent Residents
Next steps
Check your eligibility through the Scholarships360 app.
CIA Undergraduate and Graduate Scholarships
The CIA Undergraduate and Graduate Scholarships are funded by the Central Intelligence Agency, a U.S. government agency that provides objective intelligence on foreign countries and…
The CIA Undergraduate and Graduate Scholarships are funded by the Central Intelligence Agency, a U.S. government agency that provides objective intelligence on foreign countries and…
The CIA Undergraduate and Graduate Scholarships are funded by the Central Intelligence Agency, a U.S. government agency that provides objective intelligence on foreign countries and global issues to the president, the National Security Council, and other policymakers to help them make national security decisions. Every year, their CIA Undergraduate and Graduate Scholarships award up to $25,000 to multiple postsecondary students who are willing to work one to two 90-day sessions at the CIA before graduating and for a few years after graduating. If this scholarship sounds like a fit for you, keep on reading for more application details.
Eligibility information
Grade Level: High School Seniors & College Students
Academic Interest: Computer Science, Foreign Languages, Psychology, Business, Accounting
Next steps
Check your eligibility through the Scholarships360 app.
$10,000 “No Essay” Scholarship
The Scholarships360 $10,000 “No Essay” Scholarship is open to all students who want some extra help paying for their education. Whether you are a high…
The Scholarships360 $10,000 “No Essay” Scholarship is open to all students who want some extra help paying for their education. Whether you are a high…
The Scholarships360 $10,000 “No Essay” Scholarship is open to all students who want some extra help paying for their education. Whether you are a high school student who hopes to go to college, a graduate student who’s in a master’s program, or an adult learner who wants to return to school, you are eligible for our no essay scholarship. This scholarship will be awarded to students who get the most out of Scholarships360 scholarships and content. You will be a strong applicant if you apply to scholarships with the Scholarships360 platform. Finalists for this scholarship will be interviewed about their process for funding their education.
Eligibility information
Grade Level: All Grade Levels
Citizenship: US Citizens, Permanent Residents
Minimum GPA: No GPA requirement
Next steps
Check your eligibility through the Scholarships360 app.
$2,000 Nitro College Scholarship – No Essay
Easy scholarship from Nitro College open to all high school, college, community and graduate students.
Easy scholarship from Nitro College open to all high school, college, community and graduate students.
Easy scholarship from Nitro College open to all high school, college, community and graduate students.
Eligibility information
Grade Level: All Grade Levels
Citizenship: US Citizens, Canadian Citizens, Permanent Residents, DACA, Other
Minimum GPA: No GPA requirement
Next steps
Check your eligibility through the Scholarships360 app.
Niche $15,000 No Essay Scholarship
Open to all high school and college students, as well as anyone looking to attend college or graduate school in the next year.
Open to all high school and college students, as well as anyone looking to attend college or graduate school in the next year.
Open to all high school and college students, as well as anyone looking to attend college or graduate school in the next year.
Eligibility information
Grade Level: All Grade Levels
Citizenship: US Citizens, Permanent Residents
Minimum GPA: No GPA requirement
Next steps
Check your eligibility through the Scholarships360 app.
HPRA MBA Scholarship Program
The HPRA MBA Scholarship Program is funded by the Hispanic Public Relations Association, an organization that looks to “advance the practice of Hispanic public relations;…
The HPRA MBA Scholarship Program is funded by the Hispanic Public Relations Association, an organization that looks to “advance the practice of Hispanic public relations;…
The HPRA MBA Scholarship Program is funded by the Hispanic Public Relations Association, an organization that looks to “advance the practice of Hispanic public relations; to serve as the voice for professionals; to empower its members through support, resources and education; and to offer guidance to students pursuing careers in the field.” Every year, their HPRA MBA Scholarship Program awards $25,000 to multiple Latinx graduate students pursuing a master's degree in Public Relations or Communications. If this scholarship sounds like a fit for you, keep on reading for more application details.
Eligibility information
Grade Level: Graduate Students
Minimum GPA: 3.0
Race/Ethnicity: Hispanic/Latino
Academic Interest: Business, Journalism
Next steps
Check your eligibility through the Scholarships360 app.
Forté MBA Fellowships
Are you a female student considering an MBA and looking for resources to fund your education? If so, consider applying for the Forté MBA Fellowships!…
Are you a female student considering an MBA and looking for resources to fund your education? If so, consider applying for the Forté MBA Fellowships!…
Are you a female student considering an MBA and looking for resources to fund your education? If so, consider applying for the Forté MBA Fellowships! The Forté MBA Fellowships are open to female students enrolled in MBA programs at any Forté partner school. The scholarship is funded by Forté, an organization that launches women into fulfilling careers through access to business education and to a community of determined, successful women. Their Forté Fellowships are prestigious awards recognized within the business school community that exhibit recipients' exemplary leadership, diverse backgrounds, and commitment to advancing women in business. Each year, the fellowship provides awards of varying amounts to help lucky MBA students pay for their educational expenses. If you’re an aspiring MBA student looking for help to pay off your education, we encourage you to apply to a Forté partner school! Once accepted, you will be considered for the Forté MBA Fellowships.
Eligibility information
Grade Level: Graduate Students
Citizenship: US Citizens, Canadian Citizens, Permanent Residents, DACA, Other
Academic Interest: Business
Other Category: Women
Next steps
Check your eligibility through the Scholarships360 app.
Prospanica Foundation Scholarships
Are you enrolled in an undergraduate or graduate business program in the U.S. and of Hispanic/Latino heritage? If so, consider applying for the Prospanica Foundation…
Are you enrolled in an undergraduate or graduate business program in the U.S. and of Hispanic/Latino heritage? If so, consider applying for the Prospanica Foundation…
Are you enrolled in an undergraduate or graduate business program in the U.S. and of Hispanic/Latino heritage? If so, consider applying for the Prospanica Foundation Scholarships! Each year, the scholarship program awards up to $5,000 to eligible applicants who also hold Prospanica membership. While each scholarship has different criteria and award amounts, this FAQ may help answer some of your questions about the scholarships. The scholarship program is offered by Prospanica, a business-oriented organization with a mission to “empower and enable Hispanic professionals to achieve their full educational, economic, and social potential.” If you believe in the importance of Prospanica’s mission and are looking for some help to pay off your postsecondary education, we encourage you to apply!
Eligibility information
Grade Level: College Students
Citizenship: US Citizens, Permanent Residents, DACA
Minimum GPA: 2.8
Race/Ethnicity: Hispanic/Latino
Academic Interest: Business
Next steps
Check your eligibility through the Scholarships360 app.
ABA Diversity Scholarships
Are you planning on working in the travel, transportation, or tourism sector and are part of a group that is underrepresented in the industry? If…
Are you planning on working in the travel, transportation, or tourism sector and are part of a group that is underrepresented in the industry? If…
Are you planning on working in the travel, transportation, or tourism sector and are part of a group that is underrepresented in the industry? If so, consider applying for the ABA Diversity Scholarships! Each year, the scholarships award $5,000 to diverse applicants who demonstrate a passion for the travel industry. Applicants must have a declared major in a field related to the travel and tourism industries. However, since that may include anything from accounting to hospitality, we urge you to not rule yourself out because of your major. The scholarships are provided by the American Bus Association, the “most trusted motorcoach, group tour and travel association in the industry.” If you’re part of a group or demographic that is underrepresented in the travel, transportation, or tourism sectors, we encourage you to apply to the ABA Diversity Scholarships!
Eligibility information
Grade Level: College & Graduate Students
Minimum GPA: 3.0
Race/Ethnicity: Asian/Pacific Islander, Black/African, Hispanic/Latino, Native American
Academic Interest: Business
Other Category: Low Income, Adult
Next steps
Check your eligibility through the Scholarships360 app.
American Indian Education Fund Graduate Scholarship
Are you an American Indian, Alaska Native, or Native Hawaiian student pursuing a Masters or Doctoral degree? Consider applying for the American Indian Education Fund…
Are you an American Indian, Alaska Native, or Native Hawaiian student pursuing a Masters or Doctoral degree? Consider applying for the American Indian Education Fund…
Are you an American Indian, Alaska Native, or Native Hawaiian student pursuing a Masters or Doctoral degree? Consider applying for the American Indian Education Fund Graduate Scholarship and being rewarded for your hard work! Each year, the scholarship offers up to $2,000 to multiple applicants who submit a relevant essay, transcript, and proof of tribal enrollment for themselves or a parent. If you’re passionate about your education and are looking for some help to pay off graduate school, we encourage you to apply!
Eligibility information
Grade Level: Graduate Students
Minimum GPA: 2.5
Race/Ethnicity: Asian/Pacific Islander, Native American
Next steps
Check your eligibility through the Scholarships360 app.
SHRM Academic Scholarships
The SHRM Academic Scholarships are funded by the SHRM Foundation, an organization that inspires and empowers HR (Human Resources) professionals to unlock their highest potential…
The SHRM Academic Scholarships are funded by the SHRM Foundation, an organization that inspires and empowers HR (Human Resources) professionals to unlock their highest potential…
The SHRM Academic Scholarships are funded by the SHRM Foundation, an organization that inspires and empowers HR (Human Resources) professionals to unlock their highest potential and lead social change in the workplace and beyond. Each year, their Academic Scholarships award up to $5,000 to SHRM members who have been accepted to or are enrolled in degree-seeking postsecondary programs. If this scholarship sounds like a fit for you, keep on reading for more application details.
Eligibility information
Grade Level: College & Graduate Students
Minimum GPA: 3.0
Academic Interest: Business, Psychology
Next steps
Check your eligibility through the Scholarships360 app.
Goldman Sachs MBA Fellowship
Are you a first-year MBA student seeking a summer internship at Goldman Sachs? You might consider applying for the Goldman Sachs MBA Fellowship! This program…
Are you a first-year MBA student seeking a summer internship at Goldman Sachs? You might consider applying for the Goldman Sachs MBA Fellowship! This program…
Are you a first-year MBA student seeking a summer internship at Goldman Sachs? You might consider applying for the Goldman Sachs MBA Fellowship! This program is open to Black, Hispanic/Latinx, Native American, and female students currently enrolled in a Master of Business Administration program. The fellowship is funded by Goldman Sachs themselves and is an excellent opportunity for students interested in investment banking or private wealth management. 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. If you’re a first-year MBA student looking to get your foot in the door at a multinational investment bank like Goldman Sachs, consider applying!
Eligibility information
Grade Level: Graduate Students
Minimum GPA: No GPA requirement
Race/Ethnicity: Black/African, Hispanic/Latino, Native American
Academic Interest: Business
Other Category: Women
Next steps
Check your eligibility through the Scholarships360 app.
Selected Professions Fellowship
Are you a woman in a traditionally male-dominated master's degree program? If so, you might be interested in applying for the Selected Professions Fellowship! The…
Are you a woman in a traditionally male-dominated master's degree program? If so, you might be interested in applying for the Selected Professions Fellowship! The…
Are you a woman in a traditionally male-dominated master's degree program? If so, you might be interested in applying for the Selected Professions Fellowship! The fellowship is open to all university women who are looking to receive their degrees in predominantly male-dominated fields. Among these include architecture, computer science, engineering, and mathematics. For women of color, MBA, Law, and doctorate programs are also acceptable. The scholarship is offered by the American Association of University Women (AAUW), a non-profit organization created in 1881 to promote equity and education for women. Although the organization originally focused on supporting women in the law and medicine fields, today they have expanded their support to include women pursuing STEM careers. Every year, selected recipients are awarded $20,000 each to help pay for their master’s programs. If you are a woman pursuing a degree in a traditionally male-dominated master's degree program, we encourage you to apply!
Eligibility information
Grade Level: Graduate Students
Citizenship: US Citizens, Permanent Residents
Academic Interest: Business, Healthcare, Law
Other Category: Women
Next steps
Check your eligibility through the Scholarships360 app.
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How to win MBA scholarships
Now that you’ve got a great list of scholarships to consider, it’s time to start applying! Remember, every scholarship opportunity receives many applications, so in order to win, you’ll have to put together a standout application.
Before you start to apply, take some time to reflect on your aspirations, strengths, and past experience. Think about how you want to change the world with your MBA degree, how you’ll get there, and your past accomplishments that speak to your ability to do so. Try jotting these down in bullet points on a piece of paper to get all your thoughts on the page.
Don’t worry about succinctness or grammar or spelling; just get your thoughts out in front of you, and then come back to this page as you write your essays. This allows you to focus on your thoughts initially, and then use the actual writing process to focus on making your essay succinct, powerful, and compelling.
Writing the perfect essay
Once you’ve figured out what you’re going to write about, it’s time to work on crafting that perfect essay. We can help you out with guides on how to start and end a scholarship essay, how to write a winning scholarship essay, and the best ways to respond to a “Why do you deserve this scholarship?” prompt. We can also show you how to tailor your writing to 250 or 500 word limits, and write a scholarship resume. Good luck!
College-specific MBA scholarships
If you are interested in earning an MBA, there is a program for you. An MBA can drastically increase a graduate’s salary, but keep in mind that the degree itself is only part of the picture. The reputation of the university attended, academic performance, work experience/focus, and location all influence the overall value and MBA. Our list includes just a few of the top programs that offer scholarships and/or fellowships.
Harvard Business School (HBS)
- Eligibility: Four-year bachelor’s degree from an accredited U.S. college or university. Average applicants have a 730 GMAT and 4.7 years’ of work experience
- Amount: Varies ($42,000 average scholarship)
- Deadline: Round 1: September 8, Round 2: January 5. and Round 3: April 29 (dates change by a day or two each calendar year, so check website)
University of Chicago Booth School of Business
- Eligibility: Four-year bachelor’s degree from an accredited U.S. college or university. Average applicants have a 3.6 GPA and 730 GMAT.
- Amount: Varies
- Deadline: Round 1: September 24, Round 2: January 12. and Round 3: April 1 (dates change by a day or two each calendar year, so check website)
University of Florida Warrington College of Business
- Eligibility: Four-year bachelor’s degree from an accredited U.S. college or university. Average applicants have a 3.4 GPA and 680 GMAT. Communication ability, motivation, maturity, career focus, and leadership are all considered
- Amount: Varies
- Deadline: Round 1: October 15, Round 2: January 15. and Round 3: May 15 (dates change by a day or two each calendar year, so check website)
University of Minnesota Carlson School of Management
- Eligibility: Wide variety of scholarships and stipends for academic achievement, U of Minnesota alums, women, diverse applicants, residents of Minnesota, veterans, and international students!
- Amount: Varies, up to full tuition.
- Deadline: Round 1: October 1, Round 2: December 1, Round 3: February 1, Round 4: April 1, Round 5 (Domestic applicants only): June 1 (Unless noted all scholarships do not require a supplemental application)
University of North Carolina Kenan-Flagler MBA
- Eligibility: Undergraduate degree from an accredited U.S. college or university. Average of 694 GMAT and five years’ work experience, as well as outstanding personal qualities
- Amount: Varies, up to full tuition and living stipend fellowships are offered
- Deadline: Round 1: October 13, Round 2: January 5. Round 3: April 12, and Round 4: May 24 (dates change by a day or two each calendar year, so check website)
Arizona State University W. P. Carey Forward Focus MBA Scholarship
- Eligibility: Admitted applicants have a GMA of 6.94 and 5.5. years’ work experience
- Amount: Varies
- Deadline: Rolling
How to pay for your MBA
If you are a prospective MBA student you are probably aware that getting your MBA can be quite expensive (for reference, the most expensive MBA at the MIT Sloan School of Management costs around $120,000 per year). This is why it is so important to put together a plan for paying for your MBA.
Below, we’ll walk through the basics of financing your MBA program so you can put together a plan to pay for your degree.
Scholarships & fellowships
Whether you are applying for outside scholarships or college-specific opportunities, there are scholarships, grants, and fellowships available for MBA students. The best part about these funding opportunities is that they do not need to be repaid and are essentially free money to subsidize your degree. If finances are going to play a major factor in your MBA school choice, you should be sure to include MBA programs that offer generous scholarship and fellowship awards.
Employer aid
In addition to scholarships, tuition reimbursement can be a great way to subsidize your MBA. Tuition reimbursement is an employee benefit that companies offer to help provide financial support to employees who are furthering their education. If you want to learn more about employee tuition reimbursement and what companies offer it, check out our tuition reimbursement guide to learn more.
Personal savings
Many MBA students will have a few years of work experience, which means that they may have some savings (and in the case of students who are doing their MBA part-time, income to pay for their degree). Depending on your financial situation and budget, this can be a smart way to cover at least some of your MBA costs.
Student loans
MBA students can pay for costs that are not covered by scholarships, fellowships, or personal savings with student loans. This can include student loans from the federal government, as well as private student loans. Students should note that to qualify for federal student loans, you will need to complete the Free Application for Federal Student Aid or FAFSA.
Frequently asked questions
Can you get a fully funded MBA?
Yes, there are full scholarships available for MBA students. Your best bet is to look into specific MBA programs, like the University of North Carolina Kenan-Flagler School of Business or University of Minnesota Carlson School of Management that offer scholarships that go up to full funding.
Other options for full funding include the Questbridge Graduate School Match program which provides full funding at top MBA programs like Stanford Graduate School of Business, Haas School of Business, University of California, Berkeley, the University of Chicago Booth School of Business, the Wharton School of the University of Pennsylvania, and the Yale School of Management. The big caveat wit the Questbridge Graduate program is that it is for alumni of the Questbridge undergraduate program only.
Can you get a scholarship for an online MBA?
Unless specifically stated, all MBA scholarships will be applicable at an online MBA program. When in doubt, you can also contact the financial aid office at your college (or the college you are considering). Additionally, you can check out our top scholarships for online students that’s updated each month with new, vetted scholarships.
