Financial Aid
A go-to source for information about financing an MBA education. Learn more about graduate business school loans, scholarship opportunities and more.
Stanford Graduate School of Business Announces New Africa MBA Fellowship Program
Citizens of African countries who are admitted to the Stanford Graduate School of Business (GSB) MBA program and can demonstrate financial need are now eligible for a new $140,000 fellowship, the school announced earlier this month.
The Stanford Africa MBA Fellowship Program is part of an effort by the school to contribute to Africa’s human and economic development by educating leaders who are committed to making an impact on the continent, according to a recent post on the Stanford MBA Admissions blog. “This fellowship program is a critical step toward removing any financial barrier,” wrote admissions blogger Victoria Hendel de la O. Continue reading…
Alternative Lenders Could Offer New Options for Foreign Students at U.S. Business Schools
Private student lending shrank sharply during the financial crisis, and though traditional lenders have cautiously returned to making loans to U.S. citizens, non-Americans looking to attend business school in the United States often are hard-pressed to find financing options that don’t require a U.S. co-signer. But according to a recent article in the Financial Times, peer-to-peer lenders and crowdfunding start-ups could present new opportunities for foreign students.
One peer-to-peer lender, SoFi, which hopes to lend $1 billion this year, has been in discussions with several U.S. business schools about extending loans to foreign students that would be funded by alumni from their home country, the FT reports. Meanwhile, Pave, a crowdfunding start-up that lets students raise money from backers in exchange for a share of future income, is also considering expanding to other countries, the FT adds. Continue reading…
Boston Consulting Group MBA Diversity Scholarship Deadline Approaches, April 21st
As part of a commitment to attracting talent from different backgrounds and ethnicities, Boston Consulting Group (BCG) features an MBA Diversity Scholars program, which awards outstanding minority MBA applicants with funds to support their graduate management education as well as a summer internship at BCG between their first and second years at business school. The deadline to submit applications is Sunday, April 21st.
“We believe that a diverse organization—in terms of people, perspectives, backgrounds, and experiences—differentiates us and drives our advantage. Consequently, we place tremendous emphasis on attracting, developing and retaining diverse talent at BCG,” reads the BCG website.
Continue reading…
Early Application Deadline Nears for Bank of America Merrill Lynch MBA Diversity Fellowship
Applications are currently being accepted for the Bank of America 2013 MBA Diversity Fellowship Program, which awards merit-based fellowships to women, Blacks/African Americans, LGBT, Hispanics/Latinos, Alaskan Native/American Indian, military veterans and students with disabilities entering business school in fall 2013.
The fellowship covers $40,000 of tuition and fees for the first year of an MBA program and provides recipients with a paid summer internship within Bank of America Merrill Lynch’s Global Banking and Markets (GBAM) groups. Once a recipient completes the GBAM Summer Associate Program and accepts a full-time offer for 2014, the fellowship will also cover $40,000 of tuition and fees for the second year of the recipient’s MBA program. Continue reading…
National Society of Hispanic MBA Foundation Scholarship Application Period Nears
As tuition continues to increase at many top business schools, scholarship aid becomes more important than ever for many prospective applicants. Students of Hispanic heritage should consider the National Society of Hispanic MBA Foundation (NSHMBA) Scholarship Program, which offers funding each year at the student’s school of choice for full- and part-time study. The application period for the NSHMBA Scholarship opens on March 1, 2013. The deadline to submit completed applications is April 30th.
The NSHMBA Scholarship Program is open to U.S. citizens or legal residents of Hispanic heritage who have a minimum grade point average of 3.0 on a 4.0 scale (or the equivalent). Applicants with a minimum 2.75 GPA will also be considered provided they have two years of full-time work experience. Continue reading…
Admissions Tip: Thinking About Financing
Though many business school applicants know exactly what they want to do—and how much they hope to make—after they graduate from an MBA program, a surprising number apply to school without thinking about how they’ll pay for this expensive degree. While some students do foot the entire bill themselves or receive scholarship support from the school or an outside institution, the vast majority of MBA students borrow funds to cover their tuition and living expenses. With this in mind, we wanted to cover some very basic information on loans for the benefit of both recent admits entering school this fall and early birds just beginning to think about their applications for Fall 2013. Continue reading…
UCLA Anderson School of Management Financial Aid Team Shares Tips for Funding the MBA
Getting into a top MBA program is one thing. Paying for one is quite another… The MBA Financial Aid team at the Anderson School of Management at UCLA shared some valuable advice for prospective MBAs at Anderson and elsewhere in a recent post to the MBA Insider’s Blog. Topping their list: Start saving early, don’t borrow more than you need and be sure to thoroughly research your financing options.
Ji Choi and Andy Promsiri, Anderson’s full-time MBA Financial Aid team, field questions every day from prospective and current MBA students about how to pay for the cost of an MBA program. With years of financial aid experience between them, Choi and Promsiri urge prospective applicants to avoid a couple of common mistakes, namely borrowing more than you need and borrowing without adequately researching the options available to you. Continue reading…
ESADE Expands Scholarship Fund to Benefit More than 150 Students
In response to a youth unemployment rate in Spain of more than 50 percent, ESADE has made a firm commitment to supporting talent by allocating 1.2 million euros to talent scholarships for the 2012-2013 academic year, the school announced this week. The funding level represents an increase of 26 percent over last year.
This year, more than 150 students will have the chance to overcome barriers to education thanks to ESADE’s Scholarship Program. Among other things, ESADE this year has increased the size of its scholarships from 45 to 57 percent of tuition fees in degree programs. The school also offers a range of prizes for academic excellence, including its Academic Excellence Award, which covers 100 percent of tuition fees for students with a university entrance mark of 9.5 out of 10. Continue reading…
Yale School of Management Awards Inaugural Scholarship for U.S. Veteran
In honor of Veteran’s Day, the Yale School of Management (SOM) announced the recipient of its first Bank of America Scholarship, a new award that will be conferred annually to one or more honorably discharged U.S. veterans. The inaugural merit-based scholarship, funded by the Bank of America Charitable Foundation, goes to U.S. Army veteran Christopher Kennedy, a member of the Yale SOM MBA Class of 2013. It is the first endowed scholarship of its kind at the school, Yale SOM noted.
After graduating in 2006 from the United States Military Academy at West Point, Kennedy was commissioned as an armor officer in the U.S. Army and served five years on active duty in Germany, Kuwait, and Iraq and at Fort Knox, Kentucky. He completed his active duty service at the rank of captain just before enrolling in Yale SOM’s full-time MBA program in fall 2011.
At West Point, Kennedy led the NCAA Division I gymnastics team on the pommel horse and vault. At Yale SOM, he leads the Veterans Club, is active in the Finance and Hockey clubs, and serves as an admissions ambassador and interviewer. Continue reading…
UC Berkeley’s Haas School of Business Awards Inaugural $10,000 Dean’s Scholarships
Students in the Evening & Weekend Berkeley MBA Program at the Haas School of Business can now qualify for a one-year, $10,000 award as part of the new Dean’s Scholarship program. Through the program, scholarships are awarded to admitted students who demonstrate a commitment to ethnic diversity or to shaping the role of women in business, who diversify the program by bringing perspectives from outside the Bay area or who come from industries under-represented in the program, the school announced.
This year’s entering class in the Evening & Weekend Berkeley MBA Program includes seven recipients of the new Dean’s Scholarship: Dino Boukouris, Nicholas Caldwell, Ashkon Jafari, Brian Lee, Stephen Seiple, Eugene Shapiro and Susan Truong. They come from fields including real estate, consumer packaged goods, financial services, defense and entrepreneurship. All but one of this year’s recipients came from outside the Bay Area. Continue reading…
Indian School of Business Launches New Scholarships in Bid to Diversify Class
The Indian School of Business (ISB) earlier this month announced new merit-based scholarships totaling approximately $500,000 (2.5 crore INR) designed to attract prospective students from a wide range of sectors in order to diversify the overall class profile of its Post Graduate Program (PGP) in Management.
Called “Diversity Scholarships,” the new grants will be awarded to professionals from sectors including healthcare, government, hospitality, media, fashion and the social sector. Recipients will be selected on the basis of exceptional academic and professional performance as well as personal qualities such as leadership, integrity and community service. Continue reading…
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