Top Part Time MBA Scholarships
Why so many MBA candidates are concerned about scholarships is simple to grasp. First off, with a few exceptions, the cost of a top-notch graduate business degree in the United States has skyrocketed. And second, the growing value of debt in funding higher education, especially MBA programs, has consequences that worry a lot of people.
The best private institutions and even some public colleges now routinely estimate the growing prices of MBA degrees, but these estimates still don’t fully take into account all the expenses many people fail to identify. These involve opportunity costs, which are what economists refer to as the expenses associated with forgoing one thing in favor of another.
That being said, $400,000 could seem more accurate to represent the true cost of a top MBA degree. Why? That’s because students at Harvard and similar universities typically leave jobs paying more than $85,000 a year, so the opportunity cost of giving up a well-paid job for two years pushes total expenditures considerably over tuition, fees, and living expenses.
However, there are difficulties associated with using loans to pay for higher education. As of October 2022, American student loan debtors owed a combined total of around $1.745 trillion in federal and private student loans, according to the Federal Reserve Bank of St. Louis.
It’s understandable why so many students now go to part time MBA scholarships and fellowships for assistance given that higher education has already overtaken home ownership as the second-largest expense a person will incur in their lifetime. Fortunately, the research we conducted for the profiles below found a wide range of part time MBA scholarships that can assist in covering the cost of an MBA.
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Scholarships for Business Schools: Common Application Requirements
Here are the standard conditions for part time MBA scholarships applications, taken from the entries below:
- A bachelor’s degree from a university that has been accredited
- GPA from undergraduate program(s) that is competitive, at least a 3.0
- A live interview in person or by video
- A Personal Statement stating your goals.
- Recommendation letters
- Reports of GMAT or GRE scores (maybe optional)
- Evidence of U.S. citizenship or lawful permanent residence
Finding qualified part time MBA scholarships is difficult because the majority of donors (though not all) demand prior admission to a certain partner business school. Examples of these sponsors are provided in our guide below, including the University of Houston, the University of Florida Warrington College of Business, the University of Chicago Booth School of Business Scholarships, and the Arizona State University W.P. Carey Forward Focus MBA Scholarship. Please note that we have done our best to concentrate on part time MBA scholarships that do not limit the business schools that they can be used for.
In other situations, contributors need to be accepted into at least one of a network of partner business schools beforehand. This stipulation appears to be particularly prevalent in connection with several illustrious, lucrative part time MBA scholarships provided to members of disadvantaged groups, such as women and people of color.
Finally, some part time MBA scholarships donors ask for proof of future career plans that support the goals of their foundation. Transcripts showing preparatory courses in line with certification standards, such as the CPA exam, are one type of evidence that could be used. Examples from the public accounting, public finance, and commercial real estate sectors are included in our guide below.
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Part Time MBA Scholarships at Specific Institutions
These are some of the part time MBA scholarships available:
- Amount: Up to full resident tuition of $62,033 per year
- Deadline: The same day as the application deadline
- Eligibility: Candidates for the MBA at Arizona State University should apply.
About the Donor: Regardless of their financial circumstances, all approved full-time ASU MBA students are eligible to apply for this part time MBA scholarships, which will pay their whole tuition. The W. P. Carey School of Business at Arizona State University thinks that scholarships are much more than just financial aid. Scholarships are an investment in the future of the students, their aspirations, and the community.
- Amount: Varies
- Deadline: The same day as the admissions application deadline
- Who Should Apply: Full-Time MBA Candidates at the University of Florida
About the Donor: The University of Florida Warrington College of Business offers a number of part time MBA scholarships for MBA students, including the Hoke T. Maroon MBA Fellowship Endowment, the M. Ann O’Brien MBA Scholars Endowment Fund, the Richard and Velia Parrino Graduate Student Endowment, the Frank L. Weyenberg MBA Scholarship Fund, and the Fannie Mae MBA Term Scholars Fellowship.
- Amount: A $16,200 scholarship covering the full cost of tuition.
- Deadline: The same day as the admissions application deadline
- Who Should Apply: MBA candidates from San Francisco Bay University. Candidates must be pursuing a master’s degree in computer science, electrical engineering, or business administration (MBA) (MSCS)
About the Donor: SFBU grants this president’s scholarship to candidates seeking a master’s degree, according to the donor. Early applications are strongly advised because the amount of scholarships offered can be limited. Notably, SFBU also provides a number of additional 100 percent scholarships, including a housing scholarship that covers full tuition and free university housing, a president’s scholarship for California Community College transfer students, and a president’s scholarship for applicants seeking a bachelor’s degree.
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- Amount: Up to the full cost of tuition, with additional awards having the potential to cover yearly expenses.
- Deadline: The same day as the application deadline
- Eligibility: Candidates for the MBA at the University of Chicago should apply.
About the Donor: The University of Chicago offers a wide range of merit-based awards, including the Chicago Booth Fellowship and various business fellowships. This program is currently ranked first among business schools by U.S. News & World Report.
Building Opportunities for Leadership Diversity (BOLD) Fellows Fund at Stanford Graduate School of Business
- Amount: $15,000 per fellow year, or roughly $30,000 for a two-year MBA program
- Date: The same day as the admissions application deadline
- Who Should Apply: Applicants must be accepted into the Stanford MBA school in order to be considered for this grant. Both the financial aid application and the additional BOLD Fellows Fund application must be completed. BOLD Fellows must be in need of financial assistance. Two essay questions are included in the additional BOLD Fellows fund application, which also asks students for information about their parents and family.
About the Donor: This BOLD Fellows Fund is provided by Stanford GSB. The BOLD Fellows Fund offers assistance to those who are struggling financially and who care about fairness, inclusion, and diversity. The recipients of this award will be chosen based on a number of other criteria in addition to their ability to demonstrate financial necessity. Examples include being a low-income householder or experiencing socioeconomic adversity; supporting parents, other family members, or other parental figures financially during or after an MBA school; and displaying a dedication to improving diversity, equity, and inclusion.
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- Value: Up to $10,000 per year, plus in-state tuition adjustments for non-Texans.
- Deadline: The same as the admissions deadline, which is April 1 for overseas students and June 1 for local applicants.
- Eligibility: Candidates for the University of Houston MBA should apply.
About the Donor: The University of Houston offers new MBA students a number of scholarships, including ones funded by at least eleven Texas-based foundations and corporate affiliates. This program is currently ranked #85 among business schools in the United States by U.S. News & World Report.
Part Time MBA Scholarships for Particular Careers
- Value: $10,000 will be used for tuition, fees, books, and materials.
- Application Deadline: The period will resume in January 2023.
- Who Should Apply: Students having at least a 3.0 GPA, U.S. citizenship or permanent residency, expertise in the retail industry, involvement in community activity, and fall enrollment at an authorized university are all preferred.
About the Donor: A $10,000 Edward J. DeBartolo, Sr. Graduate Scholarship is given out each year by the International Council of Shopping Centers (ICSC) Foundation. A graduate student who is an ICSC member and enrolled in the forthcoming fall semester at a recognized university would make a good candidate. Applications from full-time students with GPAs of at least 3.0 will be taken into consideration. Candidates must exhibit a history of devotion to and involvement in the sector, a dedication to the community, and proof of their financial requirements.
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- Amount: $5,000
- Deadline: March 2023 (estimated)
- Who Should Apply: Students who have earned a bachelor’s degree in liberal arts or a related field from a U.S. institution with regional accreditation, who want to seek CPA license, and who are citizens or permanent residents of the country are eligible to apply.
About the Donor: These grants from the American Institute of Certified Public Accountants help pay for graduate accounting education and CPA certification for holders of liberal arts and non-business degrees. These awards are meant to persuade students with little to no prior accounting training to think about jobs in the field.
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- Amount: $3000
- Deadline: April 15, 2023
- Who Should Apply: Eligible and worthy students seeking a master’s degree in business administration from a recognized institution who have a shown interest in dairy and who have also shown management and leadership skills.
About Donor: The largest dairy breed association in the world was founded in 1903 and is called Holstein Association USA. This association has been working to advance the Holstein breed since it was founded. Its 20,000 adult members and more than 8,000 junior members all share a passion for breeding, caring for, and milking Registered Holstein cattle. The Robert H. Rumler MBA Scholarship was created by Holstein Association USA in Robert H. Rumler’s honor at the time of his retirement as the organization’s executive secretary.
Rumler thought that producing agriculture in the United States needed and merited highly qualified leaders. For suitable candidates with a bachelor’s degree in agriculture, primarily dairy, this scholarship was founded.
- Amount: Variable (various scholarships range in size); for instance, the government finance professional development scholarship offers four $10,000 grants.
- Deadline: Applications for 2023 will be accepted during the Fall.
- Who should Apply: Those who intend to work in state/provincial/local government finance; certain scholarships call for employment with one or more state/local governments for at least two years or minority status
About the Donor: Five scholarships totaling nine to eleven prizes are funded by the Government Finance Officers Association each year for graduate students majoring in accounting, finance, economics, or business administration who are interested in working in the government or nonprofit sector. The goal is to honor students who have excelled while pursuing professions in state and local government finance.
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Part Time MBA Scholarships for Women
- Amount: To learn more about the amount, speak with a representative of the admissions office.
- Deadline: The same deadline as for applying to schools applies.
- Who Should Apply: Female students and applicants to these partnering U.S. and international colleges
About the Donor: To support women pursuing full-time, part-time, or executive MBAs at around 50 of the world’s top business schools in North America and Europe, the Forté Foundation offers distinguished, exclusive fellowships. Forté wants to increase the proportion of female MBA students.
- Amount: Variable depending on the scholarship. For instance, the “IE Woman Scholarship” can cover up to 25% of the cost of tuition, while the “IE-FORTÉ MBA Fellowship” can cover tuition and fees to the tune of €10,000 to €20,000.
- Deadline: Contact the foundation for further information about the deadline.
- Who should Apply: available to female applicants
About the Donor: The IE Foundation, on behalf of its contributors and the IE Community, has an annual budget devoted solely to women in order to support women in their pursuit of excellence. Their purpose is to give brilliant and motivated women the financial support they need to achieve their academic and professional goals. Women who have a history of exemplary professional and personal performance who want to study at IE are eligible for a number of scholarships.
- Scholarship Value: Varies
- Deadline: Scholarship applications do not need to be submitted separately. After acceptance, students will be assessed for any open scholarships.
- Who Should Apply: Female Darden School of Business students or those planning to attend
About The Darden School of Business: The school wants to be one of the most accessible business schools in the world. It provides scholarships for gifted students from all over the world, fostering a community that is varied and inclusive and is essential to the School’s goal. The Darden School of Business is dedicated to fostering an environment where women can prosper. The institution enriches the educational experience while also recognizing the next generation of female leaders by giving scholarships to female students.
Frequently Asked Questions
Is an MBA financially worthwhile?
A standard MBA degree offers a significant financial return on investment, especially at the best management schools in the world. Three years after graduation, the average pay for business school grads from the top 10 MBA programs according to the Financial Times has increased by 119%.
Does the MBA have a Full Scholarship?
The best method to ensure that your application will be reviewed for an MBA program that covers all costs is to perform really well across the board. But even a candidate with little distinguishing qualities can be awarded a full scholarship to a prestigious business school.
How may I obtain a MBA Scholarship in UK?
1. The candidate must be a foreign student.
2. The applicant must demonstrate exemplary academic standing and capacity.
3. The candidate must be qualified to submit an MBA application.
4. The candidate should have management experience in international business.
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