A Complete Guide to Scholarships for Masters in Business Administration

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A Rundown on the Best Scholarships for Masters in Business Administration (MBA)

MBA programs are very popular among ambitious students who want to climb the corporate ladder and reach that above-average salary. What may deter them from enrolling is sky-high tuition—anywhere from $35,000 to over astounding $100,000 for top-ranking business schools. Fortunately, there are tons of scholarships and grants that can help MBA students cover the cost of their education.

In this easy-to-read guide, you can find the essential info concerning scholarships for masters in business administration.

What You Should Know About Scholarships for MBA Students

Many business schools and private organizations offer scholarships to incoming and current MBA students. While most MBA scholarships are school-specific, some aren’t affiliated to a certain business school, such as the scholarships for:

  1. Specific career paths
  2. Academic Honor Society Members
  3. Women
  4. Minorities
  5. Military and veterans

Keep in mind that some scholarships are need-based while others are designed for high achievers.

How To Get a Scholarship for MBA Programs

The best way to get an MBA scholarship is to be exactly what award providers are looking for. In most cases, being a great candidate means having:

  • A strong undergraduate GPA
  • High GMAT score
  • Considerable work experience

What Are Some of the Best Scholarships for MBA Students in the USA?

Some of the best scholarships for masters in business administration available in the U.S. are listed in the table below:

MBA ScholarshipAward AmountWho Can Apply?
Arizona State University W. P. Carey Forward Focus MBA ScholarshipUp to full resident tuition of $59,794 per yearAll accepted full-time Arizona State University MBA students, regardless of their financial situation
University of Chicago Booth School of BusinessUp to full annual tuitionUniversity of Chicago MBA students
Government Finance Officers AssociationVariesStudents who plan to pursue careers in state or local government finance
The Honor Society of Phi Kappa Phi Award Programs$8,500–$35,000Phi Kappa Phi members
ESADE Women of the World ScholarshipUp to 50 percent of the tuition feesWomen of all backgrounds and nationalities; Female candidates who demonstrate financial need will be given preference
IE Foundation€10,000–€20,000Female candidates
LEAGUE Foundation LGBTQ ScholarshipUp to the basic cost of tuitionLGBTQ+ U.S. citizens who are graduating high school seniors
Gamma Mu Foundation$1,000 to $2,500Gay men under the age of 35 who have graduated high school (or obtained a GED) by June of the current year and are U.S. citizens
Prospanica—The Association of Hispanic Professionals Foundation Scholarship Program$2,000–$5,000U.S. citizens of Hispanic heritage accepted by an accredited program with a GPA of 3.0
The Wellington Management Foundation Scholarship$5,000Black students at UNCF member schools
Elliott C. Roberts Scholarship$1,000Second-year graduate students with an ethnically diverse cultural background and a demonstrated desire to be involved in community service
AMVETS Scholarships$1,000–$12,000Active military members, veterans, and their children and grandchildren

How To Apply for Scholarships for Business Schools

After making sure you qualify for a certain scholarship, in most cases, you’ll have to fill out an online application before the due date. Besides your application, you will need to submit other documents, such as:

If you apply for a need-based scholarship, you may have to fill out the Free Application for Federal Student Aid (FAFSA).

Where To Look for Scholarships for MBA Programs

If you want to apply for a scholarship for masters in business administration, get ready for extensive online research. You will bump into hundreds of MBA scholarships listed on different websites, and it may take days to go through each one.

That’s why we’re here! , answer a few questions from our chatbot, and we’ll find the best scholarships you qualify for in minutes.

Use the DoNotPay App To Find All Kinds of Scholarships in Minutes!

From MBA to international students, adults, teenagers, Catholics, and teachers—our app helps different candidates to look for financial aid. Seeking scholarships for college or grad school is a complicated task that may give you a headache. Don’t stress over it because the whole process can become easy and quick with the help of DoNotPay.

All you have to do is follow four simple steps:

  1. Select the Apply for Scholarships feature
  2. Respond to a few questions regarding your:
    1. Academic interests
    2. Level of study
    3. Career plans
    4. Location
    5. Special social status (if applicable)
  3. Your current school’s name

If you are interested in applying for a no-essay scholarship, mention it on our questionnaire, and we’ll quickly send your application to the organization or institution in question.

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