Exclusive MBA Scholarships with Upcoming Deadlines in 2025

If you're considering pursuing an MBA, you may already be aware of the financial commitment it entails. However, there's good news. There are numerous MBA scholarships available to help alleviate the cost. Earning an MBA is a route many young professionals take to land highly sought-after jobs at large corporations.

While going to business school is a valuable endeavor, it is also an expensive one. The average annual tuition costs at the top 15 ranked MBA programs often exceed $64,000. Amongst the 10 highest-ranked public business schools, the average in-state tuition is $46,000. MBA scholarships can help undergraduate and graduate students as they pursue an MBA program.

At Bold.org, we help students find scholarships tailored to their needs and career goals. With a track record of helping thousands of students access funding for higher education, we understand the challenges and complexities of financing advanced degrees like an MBA. Our platform simplifies the process of finding, applying for, and winning scholarships, empowering students with reliable tools and expert resources.

Let's explore MBA scholarships, tips on how to apply for them, additional resources for MBA students, and the impact these graduate scholarships can have on your career development.

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Best MBA Scholarships for Graduate Students Enrolled in MBA Programs

Let's look at some of the best scholarships for MBA students.

1. Scholarships for College Seniors

These scholarships are designed for students in their final year of undergraduate studies. If you plan to pursue an MBA, these scholarships are a great resource. They provide financial support to help cover the costs of upcoming graduate education.

2. Scholarships for Graduate Students

Targeted at students currently enrolled in graduate programs. Our scholarships for graduate students are funded by donors who appreciate the efforts of students furthering their education with advanced degrees and wish to give back to them, including MBA students.

3. Business School Scholarships

Many business schools offer their own scholarships to attract top talent. However, Bold.org Business Scholarships provide additional assistance to help pay for education costs. These scholarships can be merit-based, need-based, or awarded based on specific criteria such as leadership potential or commitment to diversity.

4. Boustany MBA Harvard Scholarship

The Boustany MBA Harvard Scholarship is awarded once every two years to a student admitted to Harvard Business School. It covers 75% of the tuition fees and provides assistance with travel and accommodation expenses related to a mandatory two-month internship with the Boustany Foundation.

5. Arizona State University W. P. Carey Forward Focus MBA Scholarship

The W. P. Carey School of Business at Arizona State University offers the Forward Focus MBA Scholarship, which provides full tuition coverage for all full-time MBA students.

6. Wharton MBA Fellowship

The Wharton School at the University of Pennsylvania offers merit-based fellowships to exceptional MBA candidates. All admitted students are automatically considered for fellowship support during the admissions process. 

7. Forté MBA Fellowships

The Forté MBA Fellowship Program is designed to support women pursuing their MBA degrees by providing financial assistance and access to a robust professional network. Eligible candidates are women who have been admitted to MBA programs at participating business schools. Forté Fellows receive financial assistance from participating business schools, access to exclusive Forté events, and opportunities to connect with a network of successful women in business.

8. Dan Reichard Jr. Scholarship

The Dan Reichard Jr. Memorial Scholarship is awarded by the Government Finance Officers Association (GFOA) to graduate students enrolled in a full-time program preparing for a career in state and local government finance.

9. Stanford Graduate School of Business Scholarships

Stanford Graduate School of Business is committed to making its MBA program financially accessible to students from diverse backgrounds. Approximately half of Stanford MBA students receive fellowship funds. These fellowships are awarded based solely on demonstrated financial need.

10. Columbia Business School MBA Scholarship

Columbia Business School offers a range of need-based and merit-based scholarships to its MBA to support those with demonstrated financial need and those who exhibit exceptional academic and professional achievements.

Impact of MBA Scholarships on Career Development

Obtaining an MBA scholarship goes beyond the direct financial benefits. It can significantly impact your career development and open doors to exciting opportunities. In addition to financial assistance, these scholarships often provide access to internships, mentorship programs, networking events, and business community connections.

MBA scholarships not only validate your potential to succeed in the competitive business world but also demonstrate to employers and industry leaders that you possess the skills and qualities required for success. The prestige associated with receiving an MBA scholarship can elevate your professional reputation and make you a sought-after candidate in your desired field.

Moreover, receiving an MBA scholarship can also lead to enhanced personal growth and development. The rigorous application process and competition for these scholarships can push you to hone your leadership, communication, and problem-solving skills.

MBA graduates who specialize in a particular field, like local government finance, often secure important roles in municipal administration thanks to their unique skill set. Academic achievement is a key factor in landing these positions and also helps when applying for general MBA graduate scholarships.

How to Apply for MBA Scholarships

Find Scholarship Opportunities

Applying for MBA scholarships requires careful planning and attention to detail. The first step is to research the scholarships you're interested in and determine their eligibility criteria. Most scholarships require a strong academic background, leadership potential, and a compelling personal statement. Additionally, many scholarships require professional experience, so it's essential to highlight any relevant work achievements in your application.

Devote Time & Effort

It's important to devote ample time and effort to your application materials. Craft a compelling personal statement that reflects your passion for business, leadership qualities, and commitment to making a positive impact in your field. Be sure to proofread your application thoroughly and seek feedback from mentors or peers to ensure your application is polished and compelling.

Submit Application Materials on Time

Above all, remember to submit your applications well before the deadline. Late submissions may not be accepted, and competition for MBA scholarships is high. Give yourself sufficient time to complete your application thoroughly, including any required essays or supporting documents.

Remember: Applying for MBA scholarships is not just about meeting the basic requirements; it's about presenting a comprehensive picture of who you are as a candidate and how you align with the values and goals of the scholarship provider. Take the time to tailor each application to the specific scholarship criteria and showcase your unique strengths and experiences to maximize your chances of success.

Tips for Applying for MBA Scholarships

Securing an MBA scholarship requires a proactive approach. Specific scholarship programs may have specific eligibility criteria or guidelines. So let' look at some valuable tips to enhance your chances of success:

Research Early

Start your scholarship search as soon as possible to identify suitable opportunities and gather all the necessary information. Early preparation allows you to meet deadlines, craft thoughtful applications, and secure any supporting documents like recommendation letters or transcripts.

Focus on Your Strengths

Emphasize the unique qualities, experiences, and accomplishments that set you apart from other candidates. Highlight specific leadership roles, community involvement, or professional achievements that align with the values of the scholarship provider.

Network

Connect with professionals in the field to gain insights, advice, and potential recommendations that can strengthen your application. Building a strong professional network can also lead to valuable recommendations and mentorship that enhance your overall application package.

Take Advantage of Resources

Utilize online platforms, like Bold.org, that have scholarship search engines and databases to find additional opportunities that match your needs.

Remember to Follow Instructions

Pay close attention to the scholarship application guidelines and ensure that you meet all the requirements before submission.

Furthermore, when applying for MBA scholarships, it's essential to tailor your application to each scholarship opportunity. Generic applications are less likely to stand out among a sea of candidates. Personalizing your application by highlighting specific reasons why you are a good fit for a particular scholarship can significantly increase your chances of success.

More tips: Scholarship Blog

Additional Resources for MBA Students

1. Association of MBAs

The Association of MBAs is a global organization that accredits MBA programs and offers valuable resources for MBA students and graduates. AMBA provides access to a wide network of business professionals, career development opportunities, and industry insights. Members can benefit from exclusive events, webinars, and publications designed to enhance their business education and professional growth.

2. Consortium for Graduate Study in Management

The Consortium for Graduate Study in Management is an alliance of top business schools and corporations dedicated to enhancing diversity in business education and leadership. The Consortium offers merit-based, full-tuition scholarships to MBA students who demonstrate a commitment to diversity and inclusion. Additionally, it provides extensive networking opportunities, professional development workshops, and access to a supportive community of like-minded peers and alumni.

3. National Black MBA Association

The National Black MBA Association established in 1970 at the University of Chicago, is a nonprofit organization dedicated to fostering educational and economic empowerment. It has over 50 chapters and a membership exceeding 20,000 professionals serving as a great resource for MBA students.

Prospective MBA students are encouraged to apply for scholarships and financial aid. Browse our blog to find more information about college specific MBA scholarships to help pay for your graduate degree.