The article provides an overview of the scholarship for MBA in USA. The United States is home to some of the best business schools in the world. An MBA degree from one of the reputable US institutions can help improve career opportunities in this field. However, getting a degree from one of the top US B schools can be a distant dream for many candidates due to the high costs involved.
Luckily, International students can opt for MBA scholarship in USA which would conveniently fund their MBA studies. Various colleges in the United States offer MBA scholarships so deserving students can complete their studies without having to worry about finances.
Types of MBA Scholarships for International Students
Aspirants can get two types of scholarships for MBA in USA. These are:
As the name suggests, these scholarships are offered to candidates based on their academic merit. Students with outstanding professional record, high scores on standardized tests, and exceptional undergraduate GPA receive these financial grants.
In addition, the social commitment of the candidates is also taken into account when awarding these scholarships.
These scholarships are aimed at people who come from families who cannot afford to study. Several top business schools in the US offer need-based scholarships and fellowships. These grant types are determined based on the sponsor's income over the past three years.
Guide to a one-year MBA course in USA
Top Scholarship for MBA in USA for International Students
International students can get the following MBA scholarships and fellowships from some of the most prestigious business schools in the United States:
Tuck School of Business
The Tuck School of Business offers a wide range of scholarships for those wishing to pursue MBA courses. These include the following:
Center for Economy & Society
There are two programs developed by the Center for Business & Society to provide financial assistance to deserving candidates. The Tuck Non-Profit Fellowship Program provides mentoring and financial support to Tuck graduates who join the public sector or nonprofit organizations.
To qualify for the scholarship for MBA in USA, students should demonstrate exceptional academic achievement or professional achievement.
Merit and need-based scholarships
The Tuck School of Business merit-based and need-based scholarships range from $5,000 to full tuition. The higher education authority will inform students of their scholarship status upon admission.
Students are required to write a biographical essay to apply for this scholarship.
Sloan School of Management
Students are eligible to receive the following merit-based MBA scholarships from the Sloan School of Management:
This scholarship for MBA is open to all students regardless of their background. The scholarship award ranges from $5,000 to full tuition coverage. This scholarship is designed to increase the diversity of the class.
This award is open to all MBA students at MIT Sloan, regardless of background or work experience. However, it is usually awarded to 4 students from the first year of study.
Applicants are shortlisted by the committee through applications and interviews.
Kellogg School of Management
The Kellogg School of Management offers a merit-based MBA in USA scholarship, usually awarded during the admissions process. These scholarships include:
International Donald P. Jacobs Fellowship
Created by Donald Jacobs, the Donald P. Jacobs International Scholarship is awarded to international students intending to pursue MMM or two-year programs. Students who have successfully opted for admission to the institution will automatically be considered for this scholarship.
These scholarships were introduced to increase diversity among students at Kellogg. Students wishing to receive this award should demonstrate academic excellence and leadership qualities.
Harvard Business School
Distinguished students are eligible for various scholarships for Harvard Business School MBA courses.
Horace W. Goldsmith Fellowship
The Horace W. Goldsmith Fellowship is awarded to up to 10 students who intend to work for the nonprofit sector. First-year students can receive a $10,000 award.
To qualify for this award, one should have worked full-time in the nonprofit sector.
HBS Scholarship Program
These need-based scholarships are awarded to students who are admitted to the institution and are in need of funds. According to Harvard, around 50% of their class receives $32,000 annually through their need-based scholarships.
Pursuing an MBA abroad can be an expensive proposition. However, deserving candidates can study MBA in the US with scholarships from various top business schools. Some of these institutions also offer Indian students full scholarship for MBA in USA.
Applicants seeking a scholarship from these institutions should therefore check their official websites for application procedures and deadlines.
Alternatively, students can choose the study abroad financial support option offered by LeapScholar. They can get convenient and hassle-free options to fund their study abroad dreams.