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MBA scholarships come in all shapes and sizes, but they share one similarity: free money for business education. Read on to learn more about scholarship options for MBA students.
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Are you ready to discover your college program?
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Whether you're interested in marketing, management, or entrepreneurship, scholarships can be a great option for funding your MBA. Scholarships rank among the most desirable funding sources for higher education since they never need to be paid back.
Our guide to online MBA scholarships offers tips on identifying potential awards, strategies for completing applications, and information on other options to fund your MBA. You'll also find our comprehensive list of MBA scholarships, arranged both alphabetically and by category.
Popular Online MBA Programs
Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
Scholarships for Online MBA Programs
Since scholarships do not require repayment, these awards can help online MBA students graduate with less debt. Scholarships usually cover tuition, fees, and book costs. Some awards also help with personal expenses like transportation, food, and housing.
Each scholarship sets its own application requirements. Students should research which opportunities they qualify for before gathering application materials.
Because scholarships offer free money, applicants should expect significant competition. Smaller scholarships may get fewer applicants than larger awards. Also, some scholarships are renewable.
How to Find Online MBA Scholarships
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Find relevant online MBA scholarship boards
An online search is often the best way to find listings of business scholarships. Keep in mind that not all boards list all online MBA scholarships, so it pays to browse different sites and make sure you find all the available options. -
Search for awards based on personal factors
While you should always cast a wide net, try to look for scholarships that cater to your specific background or personal interests. Considering personal factors can help you find more scholarship opportunities that you have a better chance of qualifying for. -
Look for lesser-known and niche scholarships
More obscure scholarships are often less competitive. Look for local scholarship options and awards that may appear further down in search engine results. Your college may also have information about lesser-known opportunities. -
Consider scholarships with smaller award amounts
Online MBA scholarships with smaller award amounts may also attract fewer applicants, which means less competition. Collecting several smaller awards may be easier than one major award, even if you end up filling out more applications. -
Watch out for scams
When researching online, always make sure a scholarship opportunity is legitimate before you apply. Any scholarship site that asks for application fees or guarantees free money is most likely a scam and should be avoided.
How to Apply for Online MBA Scholarships
-
Review all application requirements before applying
Make sure you know what each scholarship requires before starting your application. Starting an application you do not qualify for costs time and effort. -
Prepare to submit certain materials
Many scholarships require a resume, college transcripts, and letters of recommendation. Prepare these materials early on so you can focus on applications. -
Boost your application through experience
Volunteer and work experience can elevate your scholarship applications. Be sure to include all required information, such as start and end dates, for all experiences you list in the application. -
Get solid references for letters of recommendation
Some scholarships score applicants based on the strength of each application section. You can boost your score with letters of recommendation. Find suitable candidates who speak highly of you and your work and who can write well. -
Adhere to deadlines
Note that all scholarships for online MBA programs set different application deadlines. Some scholarships may require you to apply before you begin a program. Others only accept applications from currently enrolled students. Make sure you complete an application before any deadlines.
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Types of Scholarships Available to MBA Students
Online MBA scholarships are as diverse as MBA programs themselves, serving all types of students. This list highlights the various categories of business scholarships, from corporate-backed awards to those that target specific MBA specializations or student backgrounds. Along with a description of each type of scholarship, you'll also find information on featured awards that are worth looking into.
Corporate Scholarships
Many private companies administer scholarship programs that can benefit online MBA students. These corporate scholarships usually cater to individuals pursuing a specific degree or career and/or those already employed in the field. Some corporate scholarships focus on specific geographical areas.
Abbott & Fenner Scholarships
- Who Can Apply: High school juniors and seniors, and currently enrolled postsecondary students
- Amount: $1,000
Citizens Bank Scholarship
- Who Can Apply: All students
- Amount: $2,500-$15,000
Location-Based Scholarships
Some organizations, businesses, and governments offer scholarships for local applicants. For example, a scholarship may require applicants to hold state residency. Some scholarships give preference to students from specific towns, counties, or regions.
Margery D. Shinners Scholarship
- Who Can Apply: Illinois women studying an association management-related field
- Amount: Up to $1,500
Paul Hagelbarger Memorial Scholarship
- Who Can Apply: Students studying accounting in Alaska
- Amount: $2,000 and up
Edward T. and Mary A. Conroy Memorial Scholarship Program
- Who Can Apply: Maryland residents who are spouses or children of deceased or disabled Armed Forces members, public safety workers, school employees, or 9/11 victims
- Amount: Up to full tuition
California Association of Realtors Scholarship Foundation
- Who Can Apply: Students at public California colleges and universities pursuing a real estate-related degree
- Amount: Up to $4,000
Military Scholarships
Military scholarships support the nation’s veterans and active military. These scholarships may benefit active-duty service members, honorably discharged service members, or members of the National Guard or Reserve. Some awards cater to military spouses or children. Applicants usually need to submit proof of service. Many awards also require a letter of recommendation from a military superior.
Army Women’s Foundation Graduate Scholarship
- Who Can Apply: Women who served or currently serve in the military and their descendants
- Amount: Varies
Military MBA Scholarship
- Who Can Apply: Veterans pursuing an MBA
- Amount: Varies
Sport Clips Help a Hero Scholarship
- Who Can Apply: Active-duty, retired, or honorably discharged Armed Forces, National Guard, and Reserve members
- Amount: Up to $5,000
Daughters of the American Revolution Scholarship
- Who Can Apply: All students
- Amount: $1,000-$5,000
Scholarships Based on Enrollment Status
Some scholarships require a specific enrollment status. In many cases, students must maintain full-time enrollment. Other scholarships prefer part-time or nontraditional students.
Government Finance Professional Development Scholarship
- Who Can Apply: Part-time graduate students
- Amount: $10,000
Alpha Kappa Alpha Educational Advancement Foundation Scholarship
- Who Can Apply: Full-time students
- Amount: Varies
The LAGRANT Foundation Graduate Scholarship
- Who Can Apply: Minority full-time students pursuing a graduate degree in advertising, marketing, or PR
- Amount: $3,750
Scholarships for Diverse Populations
A variety of industries and sectors offer scholarships and other aid for diverse populations. Some scholarships award funds based on factors such as race, ethnicity, or country of origin. Other awards focus on gender, sexual orientation, or personal background.
The Kosciuszko Foundation Tuition Scholarship
- Who Can Apply: Full-time graduate students of Polish descent
- Amount: $1,000-$12,000
Cafe Bustelo El Cafe Del Futuro Scholarship
- Who Can Apply: Hispanic full-time students
- Amount: $5,000
ALPFA Scholarship
- Who Can Apply: Full-time students who hold ALPFA membership
- Amount: Varies
Albert W. Dent Graduate Student Scholarship
- Who Can Apply: Minority graduate students studying healthcare management full time
- Amount: $5,000
Scholarships From Professional Organizations
Some professional organizations offer scholarships. Recipients must often plan to pursue a specific degree or career. Some professional organizations require membership before applying for a scholarship. Additionally, these scholarships often only cover conference registration fees, and sometimes travel, for the organization's conferences. So be sure to read the fine print.
AICP Scholarship
- Who Can Apply: Graduate students interested in insurance
- Amount: $2,000
Ritchie-Jennings Memorial Scholarship Program
- Who Can Apply: Full-time students studying accounting, business administration, finance, or criminal justice
- Amount: $2,000-$10,000
ABWA Impact Scholarship - Stephen Bufton Memorial Educational Fund
- Who Can Apply: Women attending accredited institutions
- Amount: $2,000-$10,000
Scholarships by MBA Concentration
Some scholarships designed for online MBA programs only accept applicants working toward a specific concentration. Many awards target applicants pursuing concentrations such as marketing, accounting, or insurance.
The LAGRANT Foundation Graduate Scholarship
- Who Can Apply: Minority full-time students pursuing a graduate degree in advertising, marketing, or PR
- Amount: $3,750
California Association of Realtors Scholarship Foundation
- Who Can Apply: Students at public California colleges and universities pursuing a real estate-related degree
- Amount: Up to $4,000
Margery D. Shinners Scholarship
- Who Can Apply: Illinois women studying an association management-related field
- Amount: Up to $1,500
Albert W. Dent Graduate Student Scholarship
- Who Can Apply: Minority graduate students studying healthcare management full time
- Amount: $5,000
Paul Hagelbarger Memorial Scholarship
- Who Can Apply: Students studying accounting in Alaska
- Amount: $2,000 and up
School-Specific Scholarships
Colleges and universities often offer scholarships for their own students. Some businesses and organizations also create scholarships for students at specific institutions. These scholarships often help learners with financial need. MBA students looking for scholarships specific to their schools should contact their financial aid office to learn more.
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Scholarship Options for Online MBA Students
For a comprehensive selection of scholarships, consult our alphabetical list below. Keep in mind this list is long but by no means complete. You can find plenty of other online MBA scholarship opportunities with a bit of online research. Also, don't forget to talk to your school for more information on potential scholarship opportunities.
AAUW Career Development Grants
The American Association of University Women (AAUW) created this grant program to support women studying education, health and medical sciences, STEM, or social sciences. Applicants must hold a bachelor's degree and plan to pursue a second bachelor's degree, a master's degree, a certification, or a certificate of completion from a vocational program. Applicants must submit letters of recommendation and a proposal.
- Who Can Apply: Women with a bachelor's degree
- Amount: $2,000-$20,000
Abbott & Fenner Scholarships
A&F Business Consultants administers this annual scholarship. Applicants must write a 500- to 1,000-word essay describing their educational career and life goals.
- Who Can Apply: High school juniors and seniors, and currently enrolled postsecondary students
- Amount: $1,000
ABWA Impact Scholarships - Stephen Bufton Memorial Educational Fund
The American Business Women's Association funds multiple scholarships for women. The association offers many of these awards through local chapters. Scholarship amount and eligibility criteria vary by award.
- Who Can Apply: Women attending accredited institutions
- Amount: $2,000-$10,000
AFWA Foundation Paula Zanni Awards
The Paula Zanni Award is one of many Accounting & Financial Women's Alliance awards. This scholarship recognizes outstanding female accounting and finance majors at the undergraduate and graduate levels. The foundation selects recipients based on financial need and academic record. Applicants need at least a 3.0 GPA and should hold strong leadership and communication skills.
- Who Can Apply: Women earning a finance or accounting degree
- Amount: Varies
AICP Scholarships
The Association of Insurance Compliance Professionals (AICP) offers this scholarship for students pursuing insurance-related careers. All applicants need at least two years of full-time accredited college coursework. Graduate applicants, including MBA candidates, may study either full time or part time. All scholarship candidates must pursue a business-related degree and hold a minimum 3.0 GPA. AICP awards up to four scholarships each year.
- Who Can Apply: Graduate students interested in insurance
- Amount: $2,000
Albert W. Dent Graduate Student Scholarships
The Albert W. Dent Graduate Student Scholarship benefits minority graduate students specializing in healthcare management, including MBA candidates. The American College of Healthcare Executives (ACHE) offers this scholarship for applicants entering their final year of full-time study. Student associate ACHE members receive preference.
- Who Can Apply: Minority graduate students studying healthcare management full time
- Amount: $5,000
ALPFA Scholarships
The Association of Latino Professionals for America (ALPFA) partners with various businesses to award scholarships for undergraduate and graduate students. Funding amounts and eligibility criteria vary by award. To apply, students need a minimum 2.5 GPA and must hold ALPFA premium student membership.
- Who Can Apply: Full-time students who hold ALPFA membership
- Amount: Varies
Alpha Kappa Alpha Educational Advancement Foundation Scholarships
Offered by the United States' first historically Black sorority, this scholarship benefits full-time students attending an accredited institution. Applicants should demonstrate community involvement. Learners from all backgrounds may apply. Applicants for the merit-based graduate scholarship need a GPA of 3.0 or higher. Students applying for the need-based scholarship must hold a minimum 2.5 GPA.
- Who Can Apply: Full-time students
- Amount: Varies
American Public Transportation Foundation Scholarships
The American Public Transportation Foundation (APTF) awards 30 annual scholarships to students pursuing careers in the transit industry. Applicants must have at least a 2.0 GPA and attend an accredited institution. Application materials include a 1,000-word essay, two letters of recommendation, a transcript, and proof of financial need. Returning applicants must also find an American Public Transportation Association sponsor.
- Who Can Apply: Undergraduate and graduate students studying a public transportation-related field
- Amount: $5,000-$12,000
Army Women's Foundation Graduate Scholarships
Women who served or currently serve in the military may apply for this one-time award. Descendants of servicewomen may also qualify. The Army Women's Foundation (AWF) Graduate Scholarship goes to women holding an undergraduate degree with a 3.0 GPA or higher. Recipients may study toward any degree, including an MBA. Applicants must verify service and submit two letters of recommendation, a two-page essay, and official transcripts.
- Who Can Apply: Women who served or currently serve in the military, and their descendants
- Amount: Varies
Blinded Veterans Association Kathern F. Gruber Scholarship
The Blinded Veterans Association awards scholarships to the spouses, children, and grandchildren of blinded veterans and active-duty service members. Applicants can receive up to four one-year scholarships. To apply, students must show their connection to a legally blind veteran or military service member. The organization also requests a 300-word essay on educational and career goals. Other application materials include high school or college transcripts and three letters of recommendation.
- Who Can Apply: Dependent spouses, children, and grandchildren of blinded active-duty service members and veterans
- Amount: $2,000
Caf� Bustelo El Caf� Del Futuro Scholarships
The Caf� Bustelo El Caf� Del Futuro scholarship program awards 25 annual scholarships for full-time undergraduate and graduate students. Applicants must attend a Hispanic Association of Colleges and Universities member institution in the United States. To apply, students submit an 800-word essay describing their Latino heritage and how they plan to use their degree.
- Who Can Apply: Hispanic full-time students
- Amount: $5,000
California Association of Realtors Scholarship Foundation
The California Association of Realtors Scholarship (C.A.R.) Foundation awards funds to students pursuing a career in real estate. Applicants need a minimum 3.0 GPA and must have completed at least two real estate-related courses at a California college or university. Students must also be currently enrolled in at least two courses, one of which must focus on real estate.
- Who Can Apply: Students at California colleges and universities pursuing a real estate-related degree
- Amount: Up to $4,000
Citizens Bank Scholarships
Students can apply for this scholarship every month. Each month, Citizens Bank selects a $2,500 prize winner, with one candidate per year winning a $15,000 scholarship. Applicants must plan on pursuing, or currently pursue, an undergraduate or graduate degree. Applicants only need to apply once. Applications automatically roll over to the next month if not selected for a scholarship.
- Who Can Apply: All students
- Amount: $2,500-$15,000
Daughters of the American Revolution Scholarships
Each Daughters of the American Revolution (DAR) scholarship sets different award values and application requirements. Most awards require a 3.0 or 3.25 GPA or higher. Some scholarships automatically renew for up to four years. The Mary Elizabeth Lockwood Beneventi MBA Scholarship targets MBA candidates with a minimum 3.25 GPA.
- Who Can Apply: All students
- Amount: $1,000-$5,000
Edward T. and Mary A. Conroy Memorial Scholarship Program & Jean B. Cryor Memorial Scholarship Program
The Edward T. and Mary A. Conroy Memorial Scholarship covers the full cost of tuition and fees for Maryland residents. Undergraduate and graduate students attending accredited Maryland institutions may qualify. This award automatically renews each year for up to five years of full-time study or eight years of part-time study.
- Who Can Apply: Maryland residents who are spouses or children of deceased or disabled Armed Forces members, public safety workers, school employees, or 9/11 victims
- Amount: Up to full tuition
Frank L. Greathouse Government Accounting Scholarships
The Government Finance Officers Association (GFOA) administers this scholarship for accounting students interested in working for local or state governments. Applicants must submit a letter of recommendation attesting to their commitment to the public sector. GFOA awards two scholarships worth $10,000 each.
- Who Can Apply: Full-time graduate students studying accounting
- Amount: $10,000
George H. Nofer Scholarships for Law and Public Policy
Full-time students with hearing loss may apply for the George H. Nofer Scholarship. Applicants should attend an accredited public policy or public administration program. Applicants must submit a personal essay and three letters of recommendation.
- Who Can Apply: Full-time graduate students with hearing loss
- Amount: Up to $5,000
Goldberg-Miller Public Finance Scholarships
The Government Finance Officers Association offers this award together with the Girard Miller Foundation. The Goldberg-Miller Public Finance Scholarship benefits graduate students preparing for a career in finance. Applicants should plan to pursue state or local government work. Candidates must submit a letter of recommendation.
- Who Can Apply: Full-time graduate students studying a government finance-related field
- Amount: $5,000-$25,000
Government Finance Professional Development Scholarships
The Government Finance Professional Development Scholarship awards funds to four part-time graduate students seeking a public finance career. Eligible areas of study include business administration, finance, and accounting. Applicants need at least two years of professional experience in state or local government. The application requires a letter of recommendation from an employer.
- Who Can Apply: Part-time graduate students
- Amount: $10,000
Jane M. Klausman - Women in Business Scholarships
This Zonta International Foundation scholarship helps fund undergraduate and graduate students pursuing a business degree. Zonta International chooses up to 32 U.S. women with outstanding business potential to receive a $2,000 award. The foundation also selects up to six international students to win an $8,000 award.
- Who Can Apply: Women pursuing a business degree
- Amount: $2,000-$8,000
The Kosciuszko Foundation Tuition Scholarships
The Kosciuszko Foundation awards various scholarships to full-time graduate students of Polish descent. Some awards only accept students from specific towns or states. Applicants need at least a 3.0 GPA. Award winners may reapply, though the foundation does not guarantee scholarship renewal.
- Who Can Apply: Full-time graduate students of Polish descent
- Amount: $1,000-$12,000
The LAGRANT Foundation Graduate Scholarships
Twenty-eight students annually win the Lagrant Foundation Graduate Scholarship. This $3,750 award for minority students includes a trip to New York City to attend professional development activities. Applicants must attend a graduate program in marketing, business, advertising, or public relations. Full-time students with a 3.2 GPA or above and at least two semesters of study remaining may qualify.
- Who Can Apply: Minority full-time students pursuing a graduate degree in advertising, marketing, or PR
- Amount: $3,750
Margery D. Shinners Scholarships
The Margery D. Shinners Scholarship helps women in the association management field fund their education. Many winners use the scholarship to pay for association management training programs. Scholarship winners can also apply the funds toward a degree program. Applicants must work for (or plan to work for) an Illinois real estate board or association.
- Who Can Apply: Illinois women studying an association management-related field
- Amount: Up to $1,500
Military MBA Scholarships
Veterans planning to earn a business master's degree can apply for the Military MBA Scholarship. Applicants must hold a bachelor's degree and attend a participating MBA program. Application requirements include official transcripts and two letters of recommendation from military colleagues. Winners cannot combine this award with any full-ride scholarships.
- Who Can Apply: Veterans pursuing an MBA
- Amount: Varies
Minorities in Government Finance Scholarships
This Government Finance Officers Association scholarship recognizes minority students planning a career in state or local government finance. Eligible fields of study include business administration, accounting, and finance. Recommendation letters should address the applicant's commitment to the public sector.
- Who Can Apply: Part-time and full-time undergraduate and graduate students
- Amount: $10,000
National Association for Black Accountants Scholarships
The National Association for Black Accountants awards about 50 scholarships each year. The association accepts applications from full-time undergraduate and graduate students studying business, finance, or accounting. Black students who demonstrate academic excellence may qualify. Applicants must also hold NABA student membership and submit a 250-word application essay.
- Who Can Apply: Black full-time students who are NABA members
- Amount: $1,000-$10,000
New Mexico Graduate Scholarships
The New Mexico Higher Education Department offers scholarships for graduate students, including MBA students, attending public schools. Priority goes to New Mexico residents, students with financial needs, and applicants from underrepresented communities. Award winners must commit to serving in an unpaid internship relevant to their major for 10 hours a week during the school year. Some graduate students may renew this scholarship for a second year.
- Who Can Apply: Graduate students
- Amount: Up to $7,200
Paul & Daisy Soros Graduate School Fellowships
The Paul & Daisy Soros Graduate School Fellowship covers graduate tuition of up to $20,000 per year, plus a living stipend. Applicants must be immigrants or children of non-citizen immigrants. They must also hold a bachelor's degree and plan to enroll in a graduate program. Applicants 30 years old or younger may qualify.
- Who Can Apply: Immigrants and children of immigrants
- Amount: up to $90,000
Paul Hagelbarger Memorial Scholarships
This scholarship from the Alaska Society of CPAs (AKCPA) aids undergraduate and graduate learners studying accounting. Students must plan to pursue a career in public accounting in Alaska. AKCPA accepts applicants attending in-state four-year schools. Scholarship winners receive at least $2,000, with some larger awards available.
- Who Can Apply: Students studying accounting in Alaska
- Amount: $2,000 and up
Prospanica Foundation Scholarship Program
This scholarship benefits Hispanic and Latino/a learners studying business. Applicants must attend an accredited nonprofit business school as a sophomore or higher. Scholarship candidates need a minimum 3.0 GPA and must hold Prospanica membership.
- Who Can Apply: Hispanic graduate and undergraduate students pursuing a business degree
- Amount: $2,500-$10,000
Richard "Dick" Wiegers Scholarships
This Illinois Real Estate Educational Foundation (REEF) scholarship accepts applications from graduate business students. Undergraduate business, law, or finance majors may also apply. Applicants must be Illinois residents. Most REEF scholarships award funds to full-time students who are U.S. citizens.
- Who Can Apply: Illinois residents pursuing a graduate business degree or an undergraduate degree in business, law, or finance
- Amount: $1,000
Ritchie-Jennings Memorial Scholarship Program
This Association of Certified Fraud Examiners (ACFE) scholarship supports students pursuing a fraud examination career. Undergraduate and graduate students may apply. Applicants should be working toward a degree related to fraud examination, such as an MBA. Students should submit official transcripts and two letters of recommendation. Winners receive scholarship funds plus one free year of ACFE membership.
- Who Can Apply: Full-time students studying accounting, business administration, finance, or criminal justice
- Amount: $2,000-$10,000
Scholarships for Lutheran Laywomen
This scholarship supports women with an educational gap of two years or longer. Full-time undergraduate and graduate students over age 21 may apply. The Evangelical Lutheran Church of America prefers candidates who demonstrate church involvement. Winners may renew their scholarships for a second year.
- Who Can Apply: Women members of the Evangelical Lutheran Church of America
- Amount: Varies
SILA Foundation Postsecondary College Scholarships
The Securities and Insurance Licensing Association (SILA) Foundation sponsors this scholarship for full-time and part-time students. Part-time students must work while in school. Eligible areas of study include business information, finance, accounting, and insurance. Candidates must submit a transcript, a letter of reference, and proof of employment (if required). Applicants must also hold a minimum cumulative GPA of 3.0.
- Who Can Apply: Part-time and full-time students pursuing a business-related degree
- Amount: $1,250
SHRM Foundation Graduate Scholarships
The SHRM Foundation awards scholarships to learners pursuing a human resources-related graduate degree, including an MBA. Applicants must hold current SHRM membership and attend a regionally accredited institution. Students need a 3.5 GPA or higher to qualify. The SHRM Foundation also requires a letter of reference addressing the applicant's character, work ethic, and financial need.
- Who Can Apply: SHRM members pursuing a graduate degree
- Amount: $5,000
Sport Clips Help a Hero Scholarships
This award provides up to $5,000 in funding to active, retired, and honorably discharged military service members. Students can earn scholarships during the fall or spring semester. Award winners may reapply for additional scholarship funds each semester. Applicants must study at a VA-approved school or program, hold a military rank of E-5 or lower, and demonstrate financial need.
- Who Can Apply: Active-duty, retired, or honorably discharged Armed Forces, National Guard, and Reserve members
- Amount: Up to $5,000
Tillman Military Scholars Program
Military service members, veterans, and their spouses can apply for the Tillman Military Scholars Program. Tillman scholars receive an average annual award of $10,000. Full-time undergraduate or graduate students attending an accredited institution may qualify. Application requirements include a resume, two short essays, and a letter of recommendation. Applicants must also submit a short biography and proof of military service.
- Who Can Apply: Full-time students who are veterans, active-duty service members, or military spouses
- Amount: Varies
Women's Independence Scholarship Program
The Women's Independence Scholarship Program (WISP) helps partner abuse survivors overcome educational barriers. The award favors single mothers with significant financial needs. Applicants pursuing undergraduate or vocational degrees receive preference, but MBA candidates may qualify. Women who plan on educating and helping other women also receive special consideration.
- Who Can Apply: Women who are survivors of partner abuse
- Amount: $1,000-$6,000
Read More
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More Ways to Pay for Your Online MBA
In addition to scholarship programs, online MBA candidates can pursue financial aid such as grants, loans, and work-study programs. Below, we cover several types of financial aid opportunities for online MBA students.
Grants
Like scholarships, grants do not need to be repaid. However, while many scholarships choose recipients based on merit, grants are typically need-based. Filling out your Free Application for Federal Student Aid (FAFSA) automatically determines your eligibility for federal grants.
Federal Loans
MBA students can access several types of federal student loans. Federal loans may have fixed interest rates and later repayment dates than private loans. They may also offer consolidation options. As with grants, filling out the FAFSA determines your eligibility for different federal loans, such as unsubsidized loans and PLUS Loans.
Private Loans
Private loans come from third-party lenders. These loans may be easier to secure than federal loans, though they often charge higher interest rates and may require a minimum credit score to qualify. Compared to federal loans and grants, private loans are generally more expensive and less flexible in their repayment policies. Plus, you may need a creditworthy cosigner.
Work-Study
Sometimes you can work campus jobs in return for payment. Depending on the type of work-study, this payment may go directly toward your tuition and fees. As with grants and loans, filling out your FAFSA can help you determine your eligibility for work-study jobs.
Employer Assistance
Some businesses may offer to pay for some or all of their employees' MBA program expenses. Check with your employer to find out what education funding options they offer. Employer assistance may require you to commit to a set period of employment after you finish your MBA.
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Questions About Scholarships for Online MBA Degrees
Can you get scholarships for an online MBA?
Yes, online MBA students can access many scholarships. Some programs only extend scholarships to students pursuing an MBA. Other scholarships focus on factors like background, financial need, and academic merit.
How common are scholarships for online MBA programs?
Many scholarships make no distinction between online and in-person learning, so online MBA scholarships are quite common. Most scholarships care less about your course format and more about your grades, background, and professional experiences. However, always read the application requirements carefully before you spend time applying for scholarships.
How can I get a full scholarship as an online MBA student?
Some online MBA scholarships may cover full tuition costs. From our list, these include the Paul & Daisy Soros Graduate School Fellowships, the Edward T. and Mary A. Conroy Memorial Scholarship Program, and the Goldberg-Miller Public Finance Scholarships. With higher award amounts, these scholarships are highly competitive. You may also be able to cover your tuition by collecting multiple smaller scholarships.
Do online MBA programs give scholarships?
Some online MBA programs may offer scholarships, but this varies widely from school to school. Individual colleges may give scholarships specifically to business students or MBA candidates, but you shouldn't expect every MBA program to offer tuition funding. Additionally, when an MBA program offers scholarships, it is often just a small discount on the high cost of the program. Always research financial aid options when looking at different MBA programs.
Page last reviewed on June 26, 2024
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