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Scholarships for Students Pursuing an MBA or Master’s Program

Higher Education Articles June 11, 2015

This article talks about different ways students can acquire sponsorships to help fund their college education.

Finding Scholarships

There are many scholarships offered to enable graduate students to finance their college education. Schools, private foundations, and government agencies offer scholarships aimed at students seeking Master of Business Administration (M.B.A.) degrees, among other master’s degrees. Students’ employers offer some working MBA scholarships. Individuals can seek scholarships for master’s degrees via numerous general resources; there are also resources solely focused on assisting prospective MBA graduates.

General Information Sources

Searchable databases are on many reputable websites providing information about scholarships for graduate students. Free access may be had to these databases by individuals who must first register before being allowed to view scholarship information. The following are some sources:

•A scholarship search tool is hosted by the U.S. Department of Labor on its CareerInfoNet.org site.
•Links to sites that contain searchable databases and tips are on the website of the U.S. Department of Education’s Federal Student Aid (studentaid.ed.gov).
•Information on scholarships is available at the financial aid offices of universities and colleges either through outside organizations or the schools themselves.
•There is a scholarship database on the Sallie Mae website, an organization that provides education loans. While access is free, students have to register before they can use the information on the site.

Sources of MBA Scholarships

Scholarship money for completing MBA programs can be found by interested students in the general scholarship databases, in addition to non-profit organizations, businesses, and business schools.

Business Schools

Every MBA applicant automatically has a chance for all scholarships available at many business schools. A list of their scholarships are online, and the prerequisites are at most business schools.

Organizations

Apart from schools, organizations that focus on race, gender, ethnicity or nationality may also offer scholarships to MBA students. For instance, a $10,000 scholarship can be availed from the National Black MBA Association by students who satisfy the prerequisites.

Businesses

Businesses and organizations relating to business also offer scholarship opportunities to students in MBA programs. For instance, a merit-based scholarship is offered by Morgan Stanley, a financial firm, for minority MBA students and outstanding women. A competitive prize of $5,000 for an MBA student is also available in the form of the Richard Metzler Scholarship offered by the Association of Management Consulting Firms.

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