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MBA Scholarships and Fellowships

MBA Scholarships and Fellowships

The MBA has been the most popular graduate degree for at least two decades and it has also been the degree of choice for many of today's successful business leaders. The upshot of the unique role the MBA plays in business is a variety of endowed scholarship programs for undergraduate and graduate business majors. Many of these are provided by alumni to the school from which they graduated. These are scholarships that you generally have to hunt down school by school, but in many cases they are delineated in the student finance section of the website posted by the school of business. There are also a number of national scholarship programs underwritten by major corporations and foundations that are associated with businesses or business organizations. There are a lot of rocks to look under if you are searching for financial support for your MBA degree.

1. National Black MBA Association is a strong minority association for MBA graduates. It has been in operation for a long time, is well funded, and takes an active interest in helping African American students who wish to complete a business degree. The Association operates five scholarship programs aimed at various levels of academic endeavor. All applicants must be members of the Association. The graduate degree program makes awards of $1,000 - $15,000. There is also a university partnership program for co-sponsored scholarships.

2. Goldman Sachs MBA Fellowship is a program designed to bring more minorities into the financial services field. This program is for Black, Hispanic and Native American MBA students who have shown a level of academic merit and who can demonstrate financial need. The program includes an internship in a Goldman Sachs office and an award of $15,000. The entire program, which benefits undergraduates as well as graduates, is called the Scholarships for Excellence Program and dates back to 1994.

3. National Society of Hispanic MBAs sponsors a scholarship program for MBA students of Latin descent. The program has a tiered awards structure with scholarships ranging from $1,500 to $10,000. The organization has built an active partnership program with corporations that contribute to the scholarship fund and in some cases act as co-sponsors. Corporate participants include Deloitte, Bank of America, Hilton Hotels Corporation, Xerox Corporation, Wells Fargo, and several others.

4. Jane M. Klausman Women in Business Scholarship is a program established by Zonta International, an organization dedicated to advancing the status of women worldwide. This program is an endowed scholarship fund that was established by an organization member from New York and is open to women pursuing undergraduate or graduate degrees in business. Awards range from $1,000 to $5,000. Online students are eligible for this program.

5. Delta Gamma Foundation is the charitable arm of the national women's sorority founded in 1873. It is an extremely active foundation on several fronts, one of them being education. The foundation awards $300,000 per year in scholarships. The Graduate Fellowships are available to Delta Gamma members or alumni who are returning to school for graduate work, whether directly from their undergraduate studies or after a period of time away from school.

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