The Best MBA Scholarship Programs

mba studentEach and every year, more than 100,000 MBA degrees are handed out to students in the United States, according to 2010 report produced for the Global Conference on Business and Finance Proceedings. These savvy graduates emerge from their programs with a significant amount of in-depth knowledge of how business programs work and what successful people need to do to succeed in an industry that can be both fast-paced and competitive. Sometimes, the learning process these students go through begins before they even set foot in a classroom. These students compete for scholarship programs, and if they emerge victorious, they may be able to graduate with little debt or no debt at all.

The Need for Relief

MBA programs are notoriously difficult to complete, as they require students to endure long classes, challenging homework assignments and a number of internships. It can be difficult for students to hold down jobs as they work on these programs, as working might take up the precious hours these students have earmarked for study.

Unfortunately, MBA programs can be remarkably expensive, particularly if students choose to enroll in prestigious schools. The Harvard Business School, for example, suggests that a budget for a student enrolling in the 2015 school year might include more than $91,000 in tuition, fees, housing and food. That’s more money than most people have just lying around their homes, and some schools might charge even more.

Finding Assistance

Students who need help with their MBA costs have a variety of scholarship programs that they can tap into, although the options available to one student might not be available to another. For example, some business schools offer scholarships to students based on financial need. Those students who can demonstrate a level of academic excellence and financial hardship may be able to apply for these local scholarships and get the funds that can help them to pay for school.

In addition, some companies offer scholarships for their employees. These programs might cover the entire cost of a student’s MBA experience, and in return, the student might agree to continue working for the organization after graduation. Only current employees might be able to apply for these scholarships, but they can provide excellent help.

The best options provide students with a full-ride experience, and there are many programs like this that are available, but some students find that they can cobble together enough funds for school by using many different scholarships at once.


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