Online Mba Scholarships – Need help paying for your MBA? This guide looks at scholarships and other useful financial aid options.
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Online Mba Scholarships
A Master of Business Administration (MBA) degree can help students advance their careers and increase their earning potential. According to Payscale, MBA graduates earned a median annual salary of $91,000 as of November 2021.
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However, higher education is expensive. CNBC notes that nearly half of MBA students in top programs have borrowed at least $100,000 to pay for tuition and fees. Many MBA candidates are unable to work while pursuing their degrees, making it difficult to support their education.
This guide explores how MBA students can get help paying for their degree. Read more to learn more about financial aid options such as scholarships, loans, grants and work-study programs.
Paying for an MBA can be a daunting task. Fortunately, students have access to a number of aid options to help defray the cost of graduate school.
Many grants provide funding to students with financial need. Some reward applicants with excellent academic records. Some students may qualify for awards available in small groups. In many cases, MBA students may qualify for several types of financial aid, especially to reduce out-of-pocket expenses.
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MBA applicants may receive financial assistance such as grants, loans, and work-study programs. Below, we examine several types of financial aid opportunities for MBA students.
Like scholarships, grants do not need to be repaid. However, while many scholarships select recipients based on merit, grants are often based on need.
MBA students have access to many types of student loans. Federal loans may have later payment dates and interest rates than private loans. Federal loans may offer consolidation options.
Private loans come from third party lenders. These loans may be easier to secure than federal loans, although they offer less flexibility.
Scholarships & Financial Aid
Sometimes students can work for pay on campus. Depending on the nature of the internship, this payment may go directly to the student’s tuition and fees.
Since the scholarships do not require payment, these awards can help MBA students graduate with less debt. Scholarships usually cover tuition, fees and book costs. Some awards also help students with personal expenses such as transportation, food, and accommodation.
Each scholarship sets its own application requirements. Students should research which opportunities they are eligible for before submitting their application materials.
As the scholarships offer free money, candidates should expect serious competition. Smaller scholarships may receive fewer applicants than larger awards. In addition, some scholarships are being renewed.
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Before filling out scholarship applications, search for awards that match your qualifications. Make sure each application contains all the required content and will help you stand out from other applicants.
Students have access to a variety of courses. Some scholarships only accept applicants who study a specific field, have academic qualifications, or demonstrate financial need. Some scholarships help students from certain backgrounds. Many awards combine many conditions.
Many private companies run apprenticeship programs. These business courses are usually for students pursuing a degree or career. Some of the company’s scholarships are focused on specific geographic areas. Applicants can find these scholarships through local organizations.
Some professional organizations offer scholarships. Regular recipients must plan to pursue a degree or career. Some professional organizations require students to become members before they can apply for a scholarship.
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Some organizations, businesses and governments offer scholarships to local applicants. For example, scholarships may require applicants to have in-state residency. Some scholarships give preference to students from certain cities, counties or regions.
Who can apply: Maryland residents who are spouses or children of members of the armed forces or disabled, public safety personnel, school personnel or victims of 9/11
Many businesses, organizations and government agencies offer scholarships to a variety of people. Some scholarships are awarded based on factors such as race, ethnicity, or country of origin. Some awards focus on gender, sexual orientation or personal background.
Some scholarships require a specific enrollment condition. In most cases, students must maintain full-time education. Some scholarships favor part-time or non-traditional students.
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Some MBA scholarships only accept candidates working in a specific concentration. Many awards are aimed at applicants in majors such as marketing, accounting or insurance.
Military scholarships support the nation’s veterans and active military. These scholarships may be awarded to an active service member, an honorably discharged service member, or a member of the National Guard or Reserve. Other awards are military spouses or children. Applicants are usually required to provide proof of service. Many awards also require a letter of recommendation from a military commander.
Colleges and universities often offer scholarships to their students. Some businesses and organizations also offer scholarships to students at certain institutions. These scholarships often help students with financial need. Due to the specific nature of these awards, no specific scholarships are listed below. MBA students seeking financial aid from their schools should contact the Financial Aid Office to learn more.
This alphabetical list serves as a starting point for aspiring MBA students. If you would like to learn more about a specific scholarship, click on the attached page to view specific application requirements, application deadlines, and more.
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The American Association of University Women (AAUW) created this grant program to support women studying education, health and health sciences, or the social sciences. Applicants must have a bachelor’s degree and plan to pursue another bachelor’s degree, master’s degree, certificate, or professional program. Applicants must submit letters of recommendation and recommendations.
A&F Business Advisors administers this annual scholarship. Applicants must write an essay of 500 to 1,000 words describing their academic career and life goals.
The American Business Women’s Association funds many scholarships for women. The organization presents many of these awards through local chapters. Scholarship amounts and eligibility criteria vary by award.
The After College Business Student Scholarship awards money to students who demonstrate professionalism, communication skills and academic excellence. Scholarship application includes work experience, grades, skills and personal details. Applicants must have a degree in business and a minimum GPA of 3.0.
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The Paula Zini Award is one of many awards presented by the Alliance for Women in Accounting and Finance. This scholarship recognizes outstanding women in accounting and finance at the undergraduate and graduate level. The Foundation selects recipients based on financial need and academic performance. Applicants must have a GPA of at least 3.0 and have strong leadership and communication skills.
The Association of Insurance Compliance Professionals (AICP) offers this scholarship to students pursuing insurance-related careers. All applicants must complete at least two years of accredited full-time college courses. Applicants, including MBA candidates, may study full-time or part-time. All scholarship candidates must be pursuing a business-related degree and have a GPA of at least 3.0. AICP awards up to three fellowships per year.
The Albert W. Dent Graduate Scholarship benefits minority graduate students in healthcare administration, including MBA candidates. The American College of Healthcare Executives (ACHE) offers this scholarship to applicants entering their final year of full-time study. Union members and ACHE students are preferred.
The Association of Latino Professionals of America (ALPFA) partners with various businesses to offer scholarships to undergraduate and graduate students. Funding amounts and eligibility criteria vary by award. To apply, students must have a minimum GPA of 3.0 and hold ALFA Premium Student membership.
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First offered to blacks in the United States, this scholarship benefits full-time students enrolled at an accredited institution. Applicants must demonstrate community involvement. Students with diverse backgrounds can apply. Applicants for graduate scholarships must have a GPA of 3.0 or higher. Students applying for need-based scholarships must have a GPA of at least 2.5.
The American Public Transportation Foundation offers 30 annual scholarships to students pursuing careers in transportation. Applicants must have a GPA of at least 2.0 and attend an accredited institution. Application materials include a 1,000-word essay, two letters of recommendation, a transcript, and proof of financial need. Applicants must obtain an American Public Transportation Association sponsorship.
Women who have served or served in the military are eligible for this one-time award. Descendants of military personnel may also be eligible. The Army Women’s Foundation Graduate Scholarship is for women with a bachelor’s degree and a 3.0 GPA or higher. Recipients can study for any degree, including an MBA. Applicants must confirm service and submit two letters of recommendation, a two-page essay, and official transcripts.
Blind Veterans provides scholarships to blind veterans and the spouses, children and grandchildren of service members. Applicants can receive up to four annual scholarships. To apply, students must demonstrate their relationship to a legally blind veteran or service member. The organization also asks for a 300-word essay about academic and career goals. Other application materials include high school or college transcripts and three letters of recommendation.
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The C200 Scholar Awards provide scholarships of up to $10,000 to women seeking an MBA. Women currently enrolled in an MBA program at a school that can reach C200 are eligible to apply. Recipients must demonstrate leadership, integrity and entrepreneurial spirit. The scholarship committee is specifically looking to commit to helping other women.
The Café Bustelo El Café Del Futuro Scholarship Program awards 25 annual scholarships to full-time undergraduate and graduate students. Applicants must attend the Latin American Association of Colleges and Universities.
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