Application is on going for MBA merit-based scholarships for 2024 academic session, interested candidate who meets up with the eligible requirement will be given the scholarship on merit.
Merit-based scholarships for MBA programs are awarded to students based on their academic achievements, leadership skills, professional experience, and other accomplishments. Each business school may have its own criteria and application process for merit-based scholarships.
What Kinds of MBA Scholarships Are Available?
Need-based scholarships and awards: These are scholarships (financial gifts, which do not have to be repaid, in contrast with financial aid loans, which need to be repaid at a later date, often after graduation) specifically created for students who can demonstrate financial need for this type of assistance. This might include individuals of low economic standing, or those with other significant financial obligations.
Merit-based scholarships: These awards are for students who have considerable academic achievement in their undergraduate or other grad school career. Merit scholarships might require that students achieve a certain GPA to apply, or have other education-based prerequisites.
Targeted scholarships: The purpose of this type of financial assistance is to help improve diversity among the grad school student body and increase representation for minorities and other groups.
Below are some exciting MBA scholarships you should know about, offered by independent organizations and business schools alike.
Business school scholarships
Business schools around the world offer thousands of different scholarships. Some are merit-based, often based on GMAT scores, while others are aimed at specific groups of applicants. Here are some notable business schools with MBA scholarship opportunities.
HKUST Business School
Hong Kong’s HKUST Business School offers a merit scholarship, which covers up to 100 percent of tuition fees for students with exceptional academic performance and work experience.
There are also several smaller professional awards on offer, including the Global Citizen Award for students with extensive international experience, and the HKUST MBA Entrepreneur Award for candidates with a strong entrepreneurial background.
The Wharton School
Every MBA student admitted to the Wharton School is automatically considered for a Wharton Fellowship, based on factors like their background, personal qualities, and community involvement.
Fellowships are on offer for students with a social impact background, students from emerging economies, students from underrepresented racial backgrounds, and more.
INSEAD
INSEAD offers several merit-based scholarships, including the Judith Connelly Delouvrier Endowed Scholarship. This US$15,000 award is open to female applicants who want to advance the inclusion of women in business.
The L’Oréal Scholarship is open to any candidate committed to creativity, innovation through diversity, and entrepreneurial activity. It’s worth up to €25,000 (about US$30,000).
Needs-based scholarships are also available for successful candidates, and are largely focused on students from emerging economies.
Stanford Graduate School of Business
Scholarships at Stanford Graduate School of Business include the Knight-Hennessy Scholars Program—a full-tuition merit scholarship, offered to successful applicants who commit to making positive change in the world.
Applicants with diverse backgrounds are considered and it’s the largest fully endowed scholars program in the world, and applies to all of Stanford’s graduate degrees.
Needs-based funding is also available to admitted MBAs. The Building Opportunities for Leadership Diversity (BOLD) Fellows Fund is one needs-based scholarship, which provides between US$15,000 and US$30,000 in scholarships to students who are committed to advancing diversity, equality, and inclusion.
London Business School
Students admitted to the MBA program at London Business School are automatically considered for a wide range of merit scholarships.
The Laidlaw Women’s Leadership Fund provides up to full tuition to female students in a bid to advance women’s representation at business school and in senior leadership roles.
Other awards include the Mo Ibrahim Foundation Scholarship, open to all successful applicants who are African nationals, and the Gribble Family MBA2000 Goldman Sachs Scholarship, which awards up to £45,000 (about US$62,000) to students with a flair for finance.