MBA Scholarships

MBA scholarship programs provide financial assistance for deserving MBA students. Such types of scholarships are available for both financial assistance and academic accomplishment. Mainly, these are best suited for those who actually believe that this assistance to be worthy of them. You can get MBA scholarships from numerous sources, including professional associations, private companies, and foundations. Depending on the source, the eligibility criteria also vary with academic achievement, leadership potential, and managerial experience. In addition, a number of independent bodies also offer grants to leading business schools to set up these scholarships.

An MBA program needs a massive financial investment which stretches throughout the program. Sometimes it may not be affordable for students from average families. Then these students will need a financial assistance. The cost of an MBA program includes a course fee of about $ 8,000 to $60,000 a year, boarding, food, travel, books, a PC, etc. In the USA, around 60 percent of the MBA students receive scholarship assistance. The scholarships are available for both full-time and part-time programs.

Today, a number of colleges award scholarships for the part-time evening MBA students. This financial assistance is limited to non-academic employees and academic professionals who will retain their jobs while participating in the MBA program. Nearly all the applications are automatically considered for merit scholarships in reputed business schools. Such type of scholarship ranges from $4,000 to full-tuition fee. Entrance scholarships, amounting up to $175,000, are awarded to full-time MBA students who have demonstrated outstanding academic records in their previous classes.

You will get information on any type of scholarship from business school information centers or the school websites. In addition, numerous search services on the Internet will provide you the facility to locate MBA scholarships. Some scholarships require periodical renewal. This may involve continuous maintenance of your academic status and a minimum GPA, retaining full-time enrollment, and continuing to study in the same major. Some others require community service and other extra curricular activities. Most colleges offer these academic MBA scholarships with an aim to attract very talented students.