As the world revolves around business and wealth creation, knowing business administration and everything that surrounds building a successful business is important. A master’s in business administration in the US is a great opportunity to explore the business world.
If you’re looking to undertake a master’s program in business administration abroad but are restrained by funds, this article uncovers scholarship opportunities that will help you. Keep reading to know them.
About MBA In The USA
USA houses some of the best and most highly revered business schools globally like the Harvard Business School and this places them in the limelight when students scout for where to attend.
Though the overall cost of studying in the USA is on the high side, especially for international students who reside in a developing country. This is why some universities, private individuals, nongovernmental organizations, and the government in the USA have developed certain financial aid schemes to encourage need-based individuals.
Scholarships for business administration in the US are either fully or partially funded by the donor and are categorized into need-based or meritorious awards. They also require that certain criteria should be met before admission is given.
Here are some schools that offer scholarship opportunities for MBA to both domestic and international students.
Schools That Offer MBA Scholarship In the USA
-
Harvard Business School
Harvard Business School provides need-based scholarships to eligible students. The needs of each student are determined by socioeconomic background, gross income from three years, and assets.
The amount provided for scholarships yearly is tagged at $40,000 and sometimes even more. These scholarships are donations from alumni of the Harvard Business School.
For eligibility, you’ll have to apply to get admitted into the institution and this scholarship lasts for two years. You can visit the school’s website for application and other information;
https://collegedunia.com/usa/college/2731-harvard-business-school-boston
Aside from providing scholarship opportunities, Harvard University also provides complementary fellowships to the students who are eligible for them.
-
Arizona State University W. P. Carey Forward Focus MBA Scholarship
The Arizona State University’s W.P. considers scholarship as an investment into the lives of need and merit-based students globally, they see this financial aid as a medium to sponsor the dreams and future of eligible students.
The deadline for application goes along with that for admission, hence, students who wish to apply should make sure they apply for their admission.
This scholarship covers up to $62,033 annually and is open to MBA students studying at Arizona State University. If you stand a chance, you can visit the school’s website for application details.
-
Stanford Knight-Hennessy Scholars Program – Stanford Business School
The Stanford Business School awards scholarship to 100 students enrolling in any of the seven graduate schools in the University. For eligibility, candidates are evaluated based on their civic mindset, purpose-driven leadership, and independent thought pattern.
All applications should be done online before the stipulated deadline which will be communicated on their website. Also, the scholarship covers tuition, stipends for living expenses, and moving through and from the University, this lasts up to 3years of study.
-
The Wharton School MBA Scholarship
The Wharton School provides several fellowship opportunities to deserving students through donors, corporations, and foundations among other sponsors.
The fellowships are provided based on the application of the candidate, background, academic achievement, professional achievement, and community involvement.
Some of the fellowships provided by the University of Pennsylvania are the Joseph Wharton Fellowship, Prism fellowship, and Social Impact fellowship among others. Every applicant stands a chance of getting the scholarship, to apply, visit their website for more details.
-
Kellogg School of Management
Scholarships offered under the Kellogg School of Management are both need and merit-based awards. Note that students who apply for admission are automatically considered for the merit-based scholarship.
Students applying for the need-based scholarship will be required to fill out a separate form explaining their financial status. Some of the scholarship programs awarded obtainable at the University are;
- The Charles J. Schaniel Scholarship is awarded to students with an interest in accounting.
- Donald P. Jacobs International Scholarship for strong international students
- Frederick C. Austin Scholarships are meant for students having a strong academic background, demonstrated leadership, and have made a community impact.
-
Columbia Business School
- For international students who apply to the Columbia Business School, there are both need and merit-based awards. These scholarships are sponsored by various organizations and private individuals.
Some of the need-based scholarships include;
- Laidlaw Foundation scholarship (solely for outstanding female students)
- Business School Alumni Scholarship Fund
- Class of 2000 Scholarship
- MBA Scholarship among others.
Merit-based scholarships include;
- The Perelman Scholarship is meant for students from underrepresented races, ethnic, and socio-economic groups. The value of this scholarship is not fixed.
- Columbia Fellows’ Program offers a full or partial tuition fee waiver for students who have demonstrated leadership, innovation, and creativity skills.
- General merit-based awards for all students applying to the University and this scholarship is valued at $20,000.
If this suits you, visit the school’s website for an application.
Mode of Application For Scholarship
It is obvious that there are several ways to apply for a scholarship and it also depends on the type offered. For merit-based scholarships, all students who apply for admission are eligible
While students applying for need-based scholarships will have to show proof giving detail of their financial status.
Documents and information needed for this purpose may include, bank statements, assets, tax returns from the home country, and sociocultural background among others.
Conclusion
Acquiring an MBA in the US may seem difficult owing to the exorbitant fee required for tuition and other expenses but with the generosity of some universities, private individuals, and organizations, you can offset some bills.
From this article, you can choose any university or institution of your choice, if you meet their requirement go ahead to apply before the deadline.
For clarity and other information, you can visit the school’s website.
