MBA scholarship programs provide financial aid to deserving MBA students. Such scholarships are available for both financial aid and academic merit. Essentially, they are best suited for those who truly believe they are worthy of this help. You can obtain MBA scholarships from numerous sources, including professional associations, private companies, and foundations. Depending on the source, eligibility criteria also vary based on academic achievement, leadership potential, and management experience. In addition, some independent organizations also offer grants to leading business schools to establish these scholarships.
An MBA program requires a large financial investment that extends throughout the program. Sometimes it may not be suitable for students from average families. Then these students will need financial support. The cost of an MBA program is about $8,000 to $60,000 per year with course fees, boarding, meals, travel, books, a computer, etc. includes. About 60 percent of MBA students in the US receive scholarship aid. Scholarships are available for both full-time and part-time programmes.
Today, a number of colleges offer scholarships for part-time evening MBA students. This financial aid is limited to non-academic employees and academic professionals who will maintain their jobs while participating in the MBA program. Almost all applications are automatically considered for merit scholarships at recognized business schools. These types of scholarships range from $4,000 to full tuition fees. Entry scholarships of up to $175,000 are awarded to full-time MBA students who have demonstrated outstanding academic records in their previous year.
You can get information about all kinds of scholarships from business school information centers or school websites. In addition, numerous search services on the Internet will provide you with the ability to find MBA scholarships. Some scholarships require periodic renewal. This may include consistently maintaining your academic standing and minimum GPA, maintaining full-time enrollment, and continuing to study in the same major. Some require community service and other extra-curricular activities. Most colleges offer these academic MBA scholarships with the aim of attracting highly talented students.