Don’t let high graduate tuition costs discourage you from furthering your management knowledge because MBA scholarships can alleviate the monetary burden.
Many associations across industries sponsor free scholarship programs for students earning a Master of Business Administration. Attending graduate school for an MBA will provide an edge in today’s cutthroat global economy. MBA specializations at America’s B-Schools range from accounting and logistics to organizational management and marketing.
Spending one to three years fine-tuning your leadership skills can add dazzle to your resume for any field. There’s a good reason why the MBA is the most popular master’s degree nationwide. The job market forecasts hiring of MBA graduates will spike by 16 percent!
Make sharpening your business acumen for mid- to upper-level management more affordable with these scholarships for MBAs.
MBA Scholarships Ranked
1. AIET Graduate Scholarship
Deadline: April 15th
The Appraisal Institute Education Trust (AIET) offers a $2,000 Graduate Scholarship annually for MBA or other master’s candidates who are concentrating in real estate, appraisal, land economics, and related fields. Qualified applicants must be enrolled full-time or part-time at accredited U.S. business schools, exhibit strong academic merit, have completed a appraisal internship, submit two recommendation letters, and write a 200-word personal statement discussing real estate career aspirations.
AIET Graduate Scholarship
200 West Madison Suite 1500
Chicago, IL 60606
2. Cathy L. Brock Memorial Scholarship
Deadline: January 31st
Since 1994, the Institute for Diversity in Health Management has awarded the Cathy L. Brock Memorial Scholarship for $1,000 to racial minority students who are pursuing an MBA, MHA, or similar graduate program in health services management. Interested candidates must be naturalized U.S. citizens, attend an accredited graduate school, possess a cumulative GPA above 3.0, demonstrate unmet financial need, and show genuine commitment to a healthcare finance career.
Cathy L. Brock Memorial Scholarship
155 North Wacker Avenue
Chicago, IL 60606
3. Credit Suisse MBA Fellowship
Deadline: October 9th
As a leading global wealth manager, Credit Suisse established the MBA Fellowship to provide female and ethnic minority graduate students $15,000 for their first year and $30,000 for their second year of an accredited, full-time MBA program. Eligible fellows for this scholarship for MBA students must attend a participating U.S. business school, have proven leadership skills, be pursuing investment banking careers, and exhibit academic achievement. Recipients also earn a summer internship at the Chicago, Houston, Los Angeles, New York, or San Francisco office.
Credit Suisse MBA Fellowship
11 Madison Avenue
New York, NY 10010
4. CVS Pharmacy Inc. Business Scholarships
Deadline: April 15th
Valued at $5,000, the CVS Pharmacy Inc. Business Scholarships from the United Negro College Fund (UNCF) are available to MBA students who are majoring in general business, management, finance, accounting, or human resources. Eligible African Americans for this scholarship for MBA students must be U.S. citizens or permanent residents, attend accredited master’s-level programs, achieve a minimum overall GPA of 3.0, and have verified financial need. Other MBA scholarships include the Wendell Scott Sr. Scholarship and Koch Scholars Program.
CVS Pharmacy Inc. Business Scholarships
1805 7th Street NW
Washington, DC 20001
5. Daniel B. Goldberg Scholarship
Deadline: February 19th
Sponsored by the Government Finance Officers Association (GFOA), the Daniel B. Goldberg Scholarship may provide $13,000 per year to full-time MBA students who are preparing for management careers in state or local government finance. Eligibility criteria for this scholarship for MBA students requires holding a bachelor’s degree, being U.S. or Canadian citizens, having work experience in the public sector, maintaining a minimum GPA of 3.0, and being recommended by the MBA program’s dean.
Daniel B. Goldberg Scholarship
203 North LaSalle Street Suite 2700
Chicago, IL 60601
6. Dr. James Watson Graduate Scholarship
Deadline: October 15th
Annually, the Sports Turf Managers Association (STMA) bestows the Dr. James Watson Graduate Scholarship for $1,250 to outstanding master’s students, including MBAs, who are studying sports management or administration at accredited U.S. graduate schools. Qualified candidates for this scholarship for MBA students must be STMA members, enroll in at least six credits per term, have one or more semesters remaining, maintain good academic standing, and plan a career in the sports turf industry.
Dr. James Watson Graduate Scholarship
805 New Hampshire Suite E
Lawrence, KS 66044
7. Eric Jenett Memorial Scholarship
Deadline: May 1st
Through the Project Management Institute Educational Foundation (PMIEF), the Eric Jenett Memorial Scholarship gifts $2,000 annually to promising graduate students who are pursuing a Master of Business Administration and similar degrees focused in project management. To apply, candidates must have completed an accredited bachelor’s program, register at degree-granting colleges worldwide, and exhibit academic achievement. Other scholarships for MBAs include the James Rankin Memorial Scholarship and Gaylord Chirstle Scholarship.
Eric Jenett Memorial Scholarship
14 Campus Boulevard
Newtown Square, PA 19073
8. Francis X. Crowley Scholarship
Deadline: April 1st
MBA students studying business to enter the water resource management industry could qualify for the Francis X. Crowley Scholarship from the New England Water Works Association (NEWWA). Eligible members must reside in Massachusetts, New Hampshire, Connecticut, Vermont, Maine, and Rhode Island or attend an accredited senior college in these states. By the deadline, applicants for this scholarship for MBA students must submit official transcripts, two letters of recommendation, FAFSA forms, a current resume, and one-page career aspirations essay.
Francis X. Crowley Scholarship
125 Hopping Brook Road
Holliston, MA 01746
9. John L. Carey Scholarship Program
Deadline: April 1st
The American Institute of CPAs hosts the John L. Carey Scholarship Program to award $5,000 for five graduate students who are pursuing Master of Accountancy or MBA in Accounting degrees from accredited, top-tier business schools. To qualify, applicants must have completed a non-business liberal arts major, have less than 12 accounting credits, be pursuing the 150-hour requirement for CPA licensure, maintain full-time enrollment, have some financial need, and be AICPA student affiliate members.
John L. Carey Scholarship Program
1455 Pennsylvania Avenue NW
Washington, DC 20004
10. Joseph R. Stone Scholarship
Deadline: May 13th
Administered by Tourism Cares, the Joseph R. Stone Scholarship awards $2,000 annually to one full-time or part-time graduate student pursuing master’s degrees in hotel administration, hospitality management, or travel management, including MBA concentrations. Eligible U.S. or Canadian citizens must be entering an accredited graduate school this upcoming fall with a minimum undergraduate GPA of 3.0 for taking tourism-related courses. Other MBA funding options include the Eric Friedheim Scholarship and Avis Budget Group Scholarship.
Joseph R. Stone Scholarship
675 North Washington Street
Alexandria, VA 22314
(781) 821-5990 ext. 214
11. LAGRANT Foundation Graduate Scholarships
Deadline: February 29th
The LAGRANT Foundation Graduate Scholarships are available for ethnic minority students who are pursuing MBA programs with an emphasis in advertising, marketing, or public relations. For the $5,000 award, candidates must be U.S. citizens or legal residents, carry at least 12 units per semester, achieve a minimum cumulative 3.2 GPA, have at least two academic terms remaining, and study at four-year, accredited institutions. Recipients must make a one-year commitment to maintaining contact with TLF.
LAGRANT Foundation Graduate Scholarships
633 West 5th Street 48th Floor
Los Angeles, CA 90071
12. Military MBA Scholarships
Deadline: August 15th
Based on academic merit, the Military MBA Scholarships are offered annually for $5,000 to four honorably discharged Armed Forces service members who are returning stateside and pursuing accredited Master of Business Administration programs in any discipline. Eligible applicants for this scholarship for MBA students must be U.S. citizens, hold a baccalaureate degree, attend one of the participating graduate business schools, attach two letters of recommendation, and submit military service records. Member colleges include Arizona State, Georgetown, Penn State, Texas A&M, and more.
Military MBA Scholarships
P.O. Box 681234
Salt Lake City, UT 84068
13. NARA Business Aviation Scholarships
Deadline: October 31st
Each year, the National Aircraft Resale Association (NARA) presents its Business Aviation Scholarships for $1,000 to $5,000 to full-time graduate students, including MBAs, who are earning degrees in aviation management, marketing, economics, finance, aviation safety, or aircraft systems. Qualified recipients must be U.S. citizens, carry at least nine credits per semester, maintain a cumulative GPA beyond 3.0, and show potential for entering the aviation business industry.
NARA Business Aviation Scholarships
P.O. Box 92013
Southlake, TX 76092
14. NBMBAA Graduate Scholarship
Deadline: June 24th
Offering up to $10,000, the National Black MBA Association’s Graduate Scholarship is distributed for full-time or part-time African American master’s students who are attending U.S. graduate schools, preferably AACSB-accredited. Successful candidates will be financially active NBMBAA members, have U.S. or Canadian citizenship, excel academically with a minimum 3.0 GPA, demonstrate exceptional leadership ability, and submit a professor recommendation. More funding is available specifically for Brandeis, Northeastern, and Simmons students.
NBMBAA Graduate Scholarship
400 West Peachtree Street NW
Atlanta, GA 30308
15. QS Leadership Scholarship
Deadline: May 31st
Worth $10,000 each year, the QS Leadership Scholarship is awarded to full-time or part-time Master of Business Administration students who have attending the QS World MBA Tour or QS World Executive MBA Tour within the last 12 months. Accepted applicants must be accepted into a top-tier business school, display great leadership potential, and demonstrate innovative thinking. Along with the QS Applicant Survey, students must submit a 750-word essay describing how their leadership has impacted the community. The QS program looks like a nice option among part time MBA scholarships.
QS Leadership Scholarship
1355 NW Everett Suite 100
Portland, OR 97209
16. Reaching Out LGBT MBA Fellowship
Reaching Out MBA is a national foundation awarding $10,000 fellowships each year to MBA students who self-identify as lesbian, gay, bisexual, or transgender. Interested applicants must attend participating AACSB-accredited business schools, such as Carnegie Mellon, Duke, Cornell, Columbia, Harvard, and Ohio State. LGBT candidates must have leadership experience, engage in on-campus clubs, and achieve high GMAT scores. Recipients also earn an all-expense paid trip to the Annual ROMBA Conference
Reaching Out LGBT MBA Fellowship
P.O. Box 515381
Los Angeles, CA 90051
17. Richard Metzler Scholarship
Deadline: January 22nd
The Richard Metzler Scholarship is funded by the Association of Management Consulting Firms (AMCF) to award $5,000 each year to outstanding MBA students who intend to become management consultants or analysts upon graduation. To be eligible, applicants for this scholarship for MBA students must attend an accredited graduate school in the U.S. or abroad, carry a minimum 3.0 GPA, exhibit strong leadership potential, submit two business references, and exemplify a positive change agent.
Richard Metzler Scholarship
370 Lexington Avenue Suite 2209
New York, NY 10017
18. Robert H. Rumler MBA Scholarship
Deadline: February 26th
The Holstein Association USA honors its former Executive Secretary by awarding the Robert H. Rumler MBA Scholarship every spring for $3,000. Qualified individuals must be pursuing a master’s degree in business administration full-time, hold a bachelor’s in dairy production, rank in the upper one-third of graduates, intend to apply management training in the U.S. agricultural community, and be actively involved in extra-curricular activities. Heavy preference is given to applicants with several years of work experience.
Robert H. Rumler MBA Scholarship
1 Holstein Place
P.O. Box 808
Brattleboro, VT 05302
19. Sigma Chi Denton Scholarship Award
Deadline: March 16th
In memory of Earl A. Denton, the Sigma Chi Foundation bestows the Denton Scholarship Award for $1,000 annually to MBA students who are focusing their graduate education in international business, economics, world trade, global management, or international affairs. Eligible fraternity members must be in good standing, attend an accredited U.S. institution, maintain a minimum overall GPA of 3.0, exhibit strong moral character, and show commitment to the international trade industry.
Sigma Chi Denton Scholarship Award
1714 Hinman Avenue
Evanston, IL 60201
(847) 869-3655 ext. 270
20. Toigo Foundation MBA Fellowships
Deadline: March 31st
For African Americans, Asian Americans, Pacific Islanders, Hispanics/Latinos, Native Americans, and Alaskan Natives, the Toigo Foundation offers $5,000 MBA Fellowships annually to develop professional careers in the finance industry. Qualified minority students must be accepted into a two-year, full-time MBA program based in the United States. The 50+ finalists who pass the application and Skype interview process will receive one-on-one career guidance and attendance at the MBA Catapult Event.
Toigo Foundation MBA Fellowships
180 Grand Avenue Suite 450
Oakland, CA 94612
According to GMAT survey data, full-time MBA graduates reap an average salary increase of 81 percent post-degree. Spending time in B-School gives MBAs a median starting salary of $100,000, in comparison to $55,000 for bachelor’s graduates. Having a Master of Business Administration also qualifies you for C-suite executive positions where the average income is $230,000! Investing in graduate school is smart as long as you don’t borrow monstrous levels of student loans. Keep your degree ROI high by selecting some of these MBA scholarships for free funding.
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