Masters in Finance Scholarships and Fellowships

For most Masters in Finance students a scholarship or fellowship for a MBA program will be appropriate because most graduate programs in finance are offered through a university’s school of business and most are MBA degrees with a major in Finance.  The scholarship programs in this field are often more numerous at the university level than from corporate or charitable foundations.  Many business schools have received endowments from successful alumni and from those sources have developed an impressive collection of graduate financial support opportunities.  There are also some large consulting firms and institutions that offer scholarships for exceptional students who are interested in an advanced business degree and need financial assistance.

The National Black MBA Association provides scholarships for undergraduate and graduate students who are working towards a business degree.  Applicants must be a minority student enrolled in a full time program at an accredited school in either the United States or Canada.  Requirements include exceptional academic achievement, demonstration of leadership skills and active involvement in the local community.  Awards from this organization range from $1,000 to $15,000.  Funding comes from multiple sources including corporate partners.

University of Chicago Booth School of Business has three categories of financial support for its MBA students, which would include those working towards a Masters in Finance.  The Merit Based Scholarships are for students who are top academic performers, and are worth from $10,000 to $30,000 annually.  This grant can be renewed for the second year as well.  The Chicago Booth Fellowships are sixteen endowed fellowship grants for one or more students, given annually.  The Corporate Fellowships are six programs co-sponsored by the school and partner corporations that provide two-year fellowships for students that have demonstrated exceptional ability and financial need.  The Barclays Fellowship, for instance, is awarded to four students from Africa, South Asia and two other developing countries. 

The National Society of Hispanic MBAs offers two scholarship programs, both of which require status as a student member of the organization.  Applicants must be of Hispanic descent and a legal resident of the United States.  There are GPA minimum requirements that differ, depending on whether or not the applicant has work experience along with an undergraduate degree.  The school must be accredited and must be located in the United States or Puerto Rico.  Grants range from $2,500 to $10,000.  The organization has also partnered with several dozen universities to offer scholarships through the individual schools.  The application requirements for these scholarships can be obtained from the individual university financial aid offices.

University of California at Berkeley Haas School of Business awarded over $5.1 million in scholarships and fellowships to incoming MBA students in 2009.  The Haas Merit Scholarships are awarded based on academic excellence and are based on material provided with the application.  The Haas Achievement Awards are directed to students who have accomplished tremendous success despite economic, social or physical hardship.  These grants cover part or all of the tuition for both years of study.  The Berkeley MBA Grants are provided to students who have demonstrated financial need, and are provided in amounts from $10,000 to $20,000.  There are also fellowships for students with entrepreneurial interests.

New York University Stern School of Business has a range of scholarships and fellowships that cover a substantial number of students.  About thirty percent of incoming MBA students receive Merit Based Admissions support from the school itself.  These awards cover some or all of the tuition costs.  The donor awards include a number of programs.  The Hess Foundation Fellowships are for students with an interest in energy.  The National Science Foundation co-sponsors a program for fellowships granted to students with an interest in cyber security.  Two other fellowship endowments are focused on students who might consider giving back to the school themselves one day.

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