On this page

Back to top

Graduate Scholarships and Resources for MBA Students

Paying for grad school is already a significant investment. With tuition rates rising each year, students are graduating with more student loan debt than ever before. Scholarships and fellowships can help ease the financial strain of getting an advanced degree. This guide outlines a number of scholarship opportunities to help MBA students graduate with less debt.

Author: Ellery Weil

Editor: Staff Editor

Three business professionals, one man and two women, collaborating and discussing over a laptop in a modern office setting.

The cost of graduate school is significant for anyone pursuing an advanced degree, especially since loans for professional degrees can top six figures. Scholarships and other funding sources both lower what you’ll pay and reduce student loan amounts to allow you to start your career with significantly less debt.

There are many scholarships, fellowships, and grant options for those wanting to earn a Master of Business Administration (MBA). Some of the best scholarship resources for current and future MBA students are detailed below along with tips for making your scholarship applications stand out from the crowd.

Available Graduate Scholarships for MBA Students

MBAs are one of the most expensive graduate programs available with an average annual tuition of $15,000 to over $100,000. While MBA graduates average a 119% salary increase over three years, student debt still presents a large financial burden. MBA scholarships can help ease the financial burden with a range of opportunities that include general scholarships and scholarships for students with specific backgrounds or career goals.

Goldberg-Miller Public Finance Scholarship

  • Offered by the Government Finance Officers Association (GOFA)
  • Amount: $20,000
  • Deadline: February 19th
  • Open to any full-time postgraduate student in a program related to finance who plans to pursue a career in state or local government finance.

Description: This scholarship supports those pursuing careers in public finance, specifically those committed to working in state and local government finance.

Mary Elizabeth Lockwood Beneventi MBA Scholarship

  • Offered by the Daughters of the American Revolution (DAR)
  • Amount: $2,000
  • Deadline: January 31st
  • Open to full-time MBA students with GPAs of 3.25 or higher. GMAT scores are encouraged.

Description: This scholarship is open to current MBA students and is renewable each year.

QS World Merit MBA Leadership Scholarship

  • Offered by QS
  • Amount: $10,000
  • Deadline: May 31st
  • Open to MBA students who have attended a QS Grad School Tour Fair or other QS event and who complete a candidate survey in addition to the application.

Description: This scholarship is for MBA students with strong leadership and innovative thinking skills.

QS Social Responsibility Scholarship

  • Offered by QS
  • Amount: $10,000
  • Deadline: April 30th
  • Open to graduate students who have attended a QS Grad School Tour Fair or other QS event and who complete a candidate survey in addition to the application.

Description: A scholarship focused on rewarding those who display a strong commitment to social responsibility, sustainability, and the environment. All graduate programs, including MBAs, are eligible.

AKA Graduate Scholarships

  • Offered by Alpha Kappa Alpha (AKA)
  • Amount: Up to $2,500
  • Deadline: August 15th
  • Open to full-time graduate students in any accredited program. Students need 3.0 or higher GPAs for merit-based funding and 2.5 or higher GPAs for need-based funding. They do not need to be AKA members.

Description: AKA sorority scholarships promote lifeline learning and are based either on merit or financial need.

SHRM Academic Scholarship

  • Offered by the SHRM (Society for Human Resource Management)
  • Amount: $5,000
  • Deadline: March 8th
  • Applicants must be current SHRM members studying a human resources-related field with undergraduate GPAs of 3.0 or higher and/or graduate GPAs of 3.5 or higher.

Description: This scholarship funds academically talented, aspiring human resource professionals. Programs are available for undergraduates and graduate students.

Chelsie C. Kryst Memorial Graduate Scholarship

  • Offered by the SHRM (Society for Human Resource Management)
  • Amount: $10,000
  • Deadline: August 24th
  • Applicants must be current SHRM members studying a human resources-related field and have undergraduate degrees with 3.0 or higher GPAs and/or graduate GPAs of 3.5 or higher.

Description: Designated for future human resource professionals with an interest in and commitment to improving workplace mental health.

Semify Internet Marketing Scholarship

  • Offered by the Semify
  • Amount: $1,000
  • Deadline: March 31st and November 1st
  • Applicants must have already completed at least one year of higher education with 3.0 or higher GPAs.

Description: Semify offers scholarships to undergraduate and graduate business students interested in marketing.

AICP Scholarship Program

  • Offered by the Association of Insurance Compliance Professionals (AICP)
  • Amount: $2,000
  • Deadline: Varies
  • Open to full-time undergraduate or postgraduate students in business-related fields and who have 3.0 or higher GPAs.

Description: AICP offers scholarships to students in business-related fields who are interested in insurance as a career.

Wiley Accounting and Finance Scholarship

  • Offered by Wiley Accounting
  • Amount: $1,000
  • Deadline: Monthly
  • Eligibility varies month to month but is geared toward full-time students in accounting and finance-related programs.

Description: Wiley Accounting offers scholarships to students in a variety of programs geared towards careers in accountancy and finance.

Frank. L. Greathouse Government Accounting Scholarship

  • Offered by the Government Finance Officers Association (GOFA)
  • Amount: $10,000
  • Deadline: February 19th
  • Applicants must be full-time students in accounting or a related field.

Description: GOFA recognizes excellence in accounting and a commitment to applying accounting skills in the public sector, specifically state and local government.

Minorities in Government Finance Scholarship

  • Offered by the Government Finance Officers Association (GOFA)
  • Amount: $10,000
  • Deadline: February 19th
  • Applicants must be minorities studying a relevant field at an accredited US institution.

Description: This GOFA award is geared towards underrepresented racial and ethnic minorities pursuing careers in local government finance.

Military MBA Merit Scholarship

  • Offered by the Military MBA
  • Amount: $20,000
  • Deadline: June 30th
  • Open to U.S. residents who have served in the U.S. military and who are pursuing graduate business degrees at eligible member schools.

Description: This MBA-specific scholarship is for U.S. military veterans.

MPOWER MBA Scholarship

  • Offered by MPOWER Financing
  • Amount: Up to $10,000
  • Deadline: January 15th
  • Open to international MBA students studying or who have been accepted into a U.S. or Canadian program.

Description: A scholarship for international students, the MPOWER MBA scholarship help students from outside the U.S. and Canada earn MBAs at American and Canadian institutions.

NBMBAA PPG Scholarship

  • Offered by the National Black MBA Association (NBMBAA)
  • Amount: $9,000
  • Deadline: July 31st
  • Open to NBMBAA members with 3.0 or higher GPAs who are enrolled in a full-time MBA program and who demonstrate leadership potential and academic excellence.

Description: The NMBAAA offers scholarships to exceptional black American MBA students who are members of the association.

Reaching Out LGBT+ MBA Fellowship

  • Offered by Reaching Out
  • Amount: $20,000
  • Deadline: Monthly
  • Applicants must be LGBTQ+ MBA students at one of the participating member schools.

Description: For LGBTQ+ MBA students at prestigious programs across the U.S., reaching out offers fellowships that include financial support, member retreats, career support, and more.

AAUW Selected Professions Group Fellowship

  • Offered by the American Association of University Women (AAUW)
  • Amount: $20,000
  • Deadline: August 1st
  • Open to WOC earning graduate degrees in qualifying areas.

Description: AAUW offers graduate scholarships in professions (e.g., with a focus on law, medicine, and business) where women of color (WOC) have been historically underrepresented.

Government Finance Professional Development Scholarship

  • Offered by the Government Finance Officers Association (GOFA)
  • Amount: $10,000
  • Deadline: February 19th
  • Open to employed part-time graduate students with two or more years of work experience in state or local government.

Description: GOFA’s part-time graduate student scholarship is geared towards those who have at least two years of work experience in state or local government and who are studying while employed.

CGSM Fellowships

  • Offered by the Consortium for Graduate Study in Management (CSGM)
  • Amount: Varies
  • Deadline: Varies
  • Members are eligible for a variety of fellowships if enrolled in a CGSM member school.

Description: CSGM awards a variety of fellowships to students enrolled in MBA and management programs at member schools.

Blind Veterans Association (BVA) Scholarships

  • Offered by the Blind Veterans Association (BVA)
  • Amount: Up to $2,000
  • Deadline: Winter
  • Applicant must be a dependent, child, grandchild, or spouse of a blinded U.S. veteran to be eligible.

Description: The BVA offers several scholarships each year for family members of blinded veterans. They can be applied to undergraduate or graduate education and are renewable for up to four years.

20 Resources for MBA Students

Completing an MBA program can seem like an overwhelming challenge. However, there are a large variety of resources both through individual schools and general career resources to help MBA students succeed from the application process to accepting a job offer.

Academic and Organizational Resources

MBA.com

This website offers a variety of resources, including rankings and school-specific information, GMAT prep materials, application advice, and more for MBA applicants and students.

Kaplan GMAT Prep

Kaplan is a highly-respected online prep course that helps students hone their skills and prepare for the GMAT, a common requirement for MBA admissions.

Grammarly

Grammarly is a grammar and syntax-checking tool that can help ensure a well-written document.

Calendly

Calendly is an online scheduling tool that helps students and professionals stay organized while keeping track of meetings, group discussions, and more.

MBA Skool

MBA Skool offers online courses and business data analysis surveys and is geared toward current MBA students looking to optimize their programs.

NoodleTools

NoodleTools helps format citations, footnotes, and bibliographies in academic and professional writing.

Student Services and Information for Current Students

Wharton Student Resources

For an example of resources at top MBA programs, look no further than the Wharton School of Business, one of the most prestigious MBA programs in the U.S. Students have access to career assistance, academic advising, student life coordination, and more.

HBS Digital Initiative

Tech meets business for both current and prospective Harvard Business School students with the HBS Digital Initiative. Among other resources, it offers an online interactive MBA career map to help plan your journey.

Investopedia

An MBA student should be on top of news in the world of business, and Investopedia makes it easy. Business and investment news, including news about MBAs and other forms of business education, is easily available and free.

Career and Job-Search Resources

LinkedIn

The largest and best-known professional social media site, LinkedIn is geared towards professionals from all walks of life. After creating a profile, users can apply for jobs, connect with other professionals, and read up on current business trends.

Association of MBAs

A worldwide professional association for MBAs and MBA candidates, AMBA is a trusted authority for MBA programs, networking, job searches, and more.

AMBA-Exchange

A job search website that’s exclusively for those holding MBAs, MBA-exchange helps you target your job search to the specific positions that your new MBA makes you specially qualified for.

MBACareers

A job board connecting MBA candidates and graduates with jobs across the U.S., MBACareers is trusted by many Fortune 1000 companies looking to recruit MBA holders.

Executive Grapevine

A digital media and business-focused job search board, Executive Grapevine has an international reach that allows MBA holders and candidates to apply for jobs all over the world.

Indeed

One of the largest job-posting sites on the web, Indeed has a variety of search tools that allow you to narrow or broaden your focus as you apply for a variety of jobs by title, location, etc.

Online Communities for Current and Future MBA Students

r/MBA

This is the major subreddit for MBA students and applicants. Users can post here with questions about their program, applications, the job search, and more and receive a variety of answers from like-minded people as well as make new friends in similar situations.

GMAT Club Forum

GMAT Club is geared towards preparing for the GMAT, the MBA, and other business program admission exams. It hosts a variety of forums for current and future MBA students to connect and share questions, ideas, and tips.

ClearAdmit MBA Chat Rooms

ClearAdmit describes itself as “the leading resource for top-tier MBA candidates,” and its chat room is intended to reflect that. ClearAdmit offers discussion and general forums for students in top programs.

FIND MBA Discussion Board

Another MBA-focused chat board forum, this one hosted by FIND MBA. Unlike some of the other resources, this forum has an international focus with an option to sort by country to allow users to look both in and out of the U.S. for MBA information.

How to Stand Out on Your Scholarship Application

MBA scholarships are highly competitive, so it’s important to have a top-notch application. Most scholarship applications are read by a committee and analyzed on a holistic basis, which means there is no single aspect (e.g., grades, essay, etc.) that makes or breaks your application. Rather, each part is important for how it makes up and connects to the whole. Below are ways to ensure your application is the best it can be.

Expand Your Extracurriculars

Just like undergraduate scholarship applications, MBA scholarship committees like to see meaningful extracurricular activities that show your personality and interests. This can take the form of volunteering or charity work, participating in a sport, or interest in the arts. The important thing is that it’s something you care about and have invested in significantly. Extracurriculars are about quality, not just quantity. Focus on those you are passionate about rather than ones you’ve just tried out.

Letters of Recommendation

Many scholarships want you to submit one or more letters of recommendation. While many postgrad programs and scholarships favor letters of recommendation from a former professor or another academic who knows you well, MBA scholarships are usually oriented towards the world of business. This means you should find someone with whom you have or have had a professional relationship to write your letter, especially if they’re well-known in the corporate world.

Wow With Your Essay

Most MBA scholarships want you to submit at least one essay, often with a specific prompt about what your MBA program or the particular scholarship means to you and what motivated you to pursue it. This essay is your chance to show your personality. Whatever the essay prompt, give yourself plenty of time to write multiple drafts. Have a trusted friend or colleague, particularly if they are familiar with applying to MBA scholarships themselves, look over your essay before you submit it. Be sure to edit and proofread your essay thoroughly.

Be First in Line

Even for scholarships that aren’t explicitly on a rolling basis or first come, first serve, get your applications in as early as possible, preferably well in advance of the application deadline. For rolling applications, this is even more important because the sooner you get your application in, the greater your chance of being awarded the scholarship. Getting application materials in with plenty of time to spare not only makes you look especially interested, but it ensures that any issues with your materials or the submission process can be sorted out before the deadline.

Follow Instructions and Be Thorough

Every MBA scholarship application is different, and the details are key. While you may be eager to get started right away, be sure to read the application instructions carefully and completely before getting started. Being thorough and deliberate with your application ensures you don’t miss any steps and accidentally submit an incomplete application.