While an MBA is invaluable, it’s also expensive. Very expensive. And it’s expensive before you even get in. From the GMAT prep courses to the campus visits to the application fees, going for an MBA is often synonymous with going for broke.
And yeah, you’ll make more money with an MBA and eventually be able to pay off your debt… but that doesn’t necessarily make b-school tuition (plus cost of living!) any less daunting.
But what many MBA applicants don’t think about is all that tuition money that’s out there for the taking. Yes, we’re talking about scholarships. They’re not just for undergrads who once excelled in high school sports, you know. There are hundreds of scholarships out there for MBA students that can shave thousands of dollars off of that student loan.
What’s that? You want us to show you the money?
Well here you go:
1. The Golden Key Scholarships
Were you a member of The Golden Key Honour Society in undergrad? If so, you’re eligible for amazing graduate scholarships all over the world, ranging anywhere from $1,000 to $15,000 in rewards. And there are new scholarship opportunities popping up in this database every day
2. AAUW Career Development Grant
If you’re female (sorry guys) and you’re thinking about going to grad school, this grant has the least restrictions and requirements. As long as you’ve got a bachelor’s degree, you’re eligible for anywhere from $2,000 to $12,000.
3. Toigo Fellowship
Focused on helping minority students get ahead in the finance world, this fellowship offers a generous $5,000 per year scholarship. The application process requires GMAT/GRE scores and a few recommendation letters, but after the grueling b-school application process, that should be a breeze.
4. The QS Scholarship
Throughout the year, QS hosts MBA fairs all over the world as part of their QS World MBA tour. As long as you attend a leg of this tour, you gain access to all their exclusive scholarships. Some are school-specific and major-specific, but if you find one that fits you, some of them offer as much as $50,000. Yes, $50,000!
5. School-specific Scholarships
Don’t see an opportunity here you like or are eligible for? Don’t worry; individual b-schools offer their own scholarship opportunities. And they are oftentimes less competitive. Look into your own program (either online or by calling) and find out what’s available for you.