MBA Scholarships in USA

7 minute read
MBA Scholarships in USA

Are you planning to study MBA in the USA and are stressed about the whopping tuition fees at the top business schools? Every year, innumerable students aspire to study the prestigious MBA business schools around the world! A large part of this candidacy fails to make it into a good business school, not because of a lack of skill or calibre but due to the high cost of pursuing an MBA degree across the world. The top American business schools charge exorbitant amounts in tuition fees yet MBA in the USA is the dream destination of millions of aspirants. If you want to study MBA in the USA and are worried about the cost then keep reading because we are going to cover all the essential MBA scholarships in USA that you must apply to!

Must Read: Cost of MBA in USA

Why should you apply for an MBA scholarship?

Before jumping into the list of MBA scholarships in USA, let’s look at some reasons why you should apply for scholarships to study in USA and the benefits attached to winning a scholarship!

  • The most obvious reason is the money factor! Scholarships are meant to ease the financial burden and stress that seeking higher education can build in international students at the time of application. 
  • Another amazing reason to apply for scholarships is the opportunity to avoid future debt by incurring student loans! The term student loan can be stressful for any aspirant and by applying to scholarships, you can easily fund your education stress-free.
  • Scholarships are not just financially sound but also a great way to showcase your accomplishments and add value to your resume. Winning a merit scholarship is a rare honour and a great achievement. Employers are always on the hunt for unique resumes and winning a scholarship is a gateway to success.
  • Another major benefit of winning a scholarship is the opportunity to build a network of like-minded professionals and academicians. Most scholarship winners get an opportunity to meet and interact with previous and other winners which is a tremendous way to get contacts and advance your career.

Check out: List of M7 Business Schools

List of MBA Scholarships in USA

The top business schools in the USA offer scholarships and financial aid to all students interested in master’s in business administration; these programs allow talented and qualified individuals to study at the best universities at affordable prices. Here is a list of MBA scholarships in the USA offered by the top business schools in the country:

Let us look at some of the popular scholarship programs in detail:

Harvard Business School Scholarships

Harvard Business School is a college of Harvard University and is the top-ranked MBA college in the USA. The University offers need-based scholarships to all deserving international students through tuition assistance. Each financial aid program is personalised, keeping in mind, the diverse and unique financial requirements of individual candidates. The admission process at Harvard Business School is need-blind and admits students based on merit. Harvard Business School scholarships are funded by its alumni and the estimated scholarship offered is around $42000 per year. The deadline of this scholarship is 23 May 2023.

Know all about MBA at Harvard University!

Kellogg School of Management Scholarships

Kellogg School of Management associated with Northwestern University offers a variety of merit and need-based scholarships to admitted students. International students are eligible for the Kellogg Scholarship; it awarded to students who have been admitted to full-time MBA programs based on their merit and other achievements. The school offers other scholarships like Diversity Scholarship, Donald P. Jacobs International Scholarships, Kellogg Finance Network Scholarship etc. All admitted students are automatically considered for all merit scholarships. 

Wharton School of Business Scholarships

Wharton School of the University of Pennsylvania has a great system of financial assistance. The university considers every candidate for the Wharton Fellowship Program. The fellowship program is merit-based and considers candidates on the basis of academic achievement, community service, extracurricular, personality traits and leadership qualities. The business school also offers a variety of aid such as the Joseph Wharton Fellowship, Emerging Economy Fellowship, Social Impact Scholarship and Wharton Fellowships for Current Students. 

Also Read: How to Get into Wharton?

MIT Sloan School of Management Scholarships

Sloan School of Management is one of the best business schools under MIT in USA. The college provides financial assistance in the form of merit-based fellowships to all their applicants automatically without any extra applications. Students during the application process can apply for the McKinsey Award. The award is worth $10000 given by McKinsey and Company to students who are exceptionally talented, exhibits leadership qualities, personality traits and work experience.

UC Berkeley Haas School of Business Scholarships

The Haas School of Business offers need-based and merit-based to registered candidates. Students who are eligible for MBA programmes are automatically considered for the courses, Need-based scholarships by UC Berkeley Haas School of Business includes grants, Center for Equity, Gender and Leadership and Centre for Responsible Business fellowship. While the list of merit-based scholarships are endless and includes awards like Dr Tahir Fellowship and C & J White Fellowship for MBA finance students.

Columbia Business School

The Colombia Universitys Business School offers scholarships and fellowships based on the need or merit of the admitted candidates. These scholarships provide partial or full tuition coverage and selected candidates are given award amounts from the range of $7,500–$30,000. Many students can receive merit-based fellowships if they complete their application forms before the merit fellowship deadline. Indian students can get fellowships like Columbia Fellow and Meyer Feldberg Distinguished Fellowship Program for highly gifted candidates.

Chicago Booth School of Business Scholarships

The University of Chicago’s Booth School of Business provides merit-based scholarships to promising candidates. All applicants are considered for the meritorious scholarships and students don’t need to fill out a different application form. The school also has the Global Innovator Fellowship for ambitious and promising students. They have regional awards like the A.H Tabaccowala Fellowship and Ramakrishnan Family Fellowship meant for residents of India only. 

Stanford Graduate School of Business 

Stanford Graduate School of Business offers a wide range of scholarships and fellowships to promising candidates to help them finance their dream. Every year, the school gives awards worth $40,000 to $80,000 in total. International students can apply for the Stanford GSB Need-Based Fellowship and the Stanford Reliance Dhirubhai Fellowship for Indian applicants which cover the full cost of tuition and 80% cost of attendance for every student.   

Dartmouth College Tuck School of Management Scholarships

The Tuck School Management is a part of the prestigious Dartmouth College, it offers scholarships, fellowships and sponsorships to promising admitted candidates. The financial awards are given by the school range from $10,000 to full tuition depending upon the academic achievements, leadership potential and versatility of the student. 

UCLA Anderson School of Management Scholarships

All admitted students are eligible for merit and donor scholarships offered by the UCLA Anderson School of Management. All students are automatically considered for these scholarships regardless of nationality. The UCLA Anderson FEMBA Dean’s Fellowship is meant for new enrollments in need of financial aid, applicants get up to $30,000 in aid.  

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Application Procedure

Students need to go through the following general steps in order to apply for study abroad programmes:

  1. Check out the whole curriculum, student testimonials, and overall school ranking when narrowing down your list of universities and courses. You may also use Leverage Edu’s AI course finder to help you pick the best course for you.
  1. To find answers to all of your questions about the programme, the application procedure, the fees, the teaching method, placements, etc., get in touch with the universities you’ve been shortlisted for.
  1. Prepare for standardized examinations like the GMAT, GRE, SAT, and ACT as well as other tests like the IELTS, TOEFL, and PTE.
  2. Preparing application essays. An important component of the application is writing a compelling and original SOP because it carries a lot of weightage. The student may need to submit essays for admission and research proposals for the MBA programmes.


How can I get a scholarship for MBA in the USA?

Most high-ranking business schools offer scholarships and financial aid to students applying for the MBA programme at their university. Scholarships offered are need-based, merit-based or diversity-oriented, in order to get a scholarship for MBA the student must have an exceptional application. 

How can I do a free MBA in USA?

Some American business schools offer full coverage scholarships to deserving candidates. Wining a fully – financed programme at one of the top universities is a rare honour.

What is a good GMAT score for scholarships?

Apart from GMAT scores, committees consider a range of requirements and achievements before granting a scholarship. There is no minimum or good GMAT score provided by universities or organisations but a good score above 720 should definitely be your aim.

Is MBA in USA worth it?

The USA is considered the best country for higher education and pursuing an MBA degree from US is definitely worth it. Top business schools like Harvard University, Stanford University, Wharton School under the University of Pennsylvania offer enriching and highly competitive MBA courses with international faculty, exposure and more!

How long is MBA in USA?

A full-time regular MBA is offered for 2 years to all interested candidates. Pursuing MBA is achievable with MBA scholarships in USA! It is important to explore every scholarship during your application process so that you make the best of your opportunities and achieve your dreams.

Applying to multiple universities and scholarships can be tedious and exhausting, if you need some professional assistance in the process then book a meeting with the experts at Leverage Edu to make the process easier and fun!

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    1. Hey Bilal!

      For MBA Scholarship, you must have applied or secured admission in the business schools of the USA. If you wish to study MBA in the USA, know more about top universities and scholarships by calling our experts at 1800-572-000.

  1. Is any of these scholarships applicable for school students who are looking forward to learn in abroad in the future?

    1. Hey Bilal!

      For MBA Scholarship, you must have applied or secured admission in the business schools of the USA. If you wish to study MBA in the USA, know more about top universities and scholarships by calling our experts at 1800-572-000.

  1. Is any of these scholarships applicable for school students who are looking forward to learn in abroad in the future?