MBA programs are expensive, and many students need financial assistance to afford them. Fortunately, there are a number of fellowships available to MBA students. Here is a look at some of the top MBA fellowships at Wharton, Chicago Booth, Stanford GSB, and MIT Sloan:
- Wharton Fellowship Program
- The Wharton Fellowship Program is a merit-based fellowship that is awarded to students with outstanding academic achievement, professional development, and community involvement. Every admitted student is considered for this program based on their application for admission.
- Chicago Booth Merit-Based Scholarships
- Chicago Booth offers a number of merit-based scholarships to students who demonstrate academic excellence and potential to contribute to the Booth community. These scholarships are awarded without the need for an application.
- Stanford GSB Fellowships
- Stanford GSB offers a variety of fellowships to students with financial need, academic achievement, and professional promise. The average fellowship award for the class of 2023 was approximately $44,000 per year or $88,000 in total awards based on need-based fellowships.
- A popular fellowship at Stanford GSB is the Knight-Hennessy Scholars program. This program selects up to 100 students each year who are newly enrolling in a graduate degree program at Stanford. Knight-Hennessy Scholars receive funding for up to three years of graduate study at Stanford, and they also participate in an experiential leadership development program. The Knight-Hennessy Scholars application to join the 2024 cohort closes on 11 October 2023 at 1:00 p.m. Pacific Time. You must apply to the MBA Program by the Round 1 deadline of 12 September 2023 at 4:00 p.m. Pacific Time.
- MIT Sloan Fellowships
- MIT Sloan offers a number of merit-based fellowships to students with outstanding academic achievement and professional potential. These fellowships cover the cost of tuition and other fees. They offer around 11 scholarships and fellowships, along with assistantships (positions of teaching and research assistants) which can also help students cover some of their costs.
- One such option is the McKinsey award. This award is given to three first-year MBA students who have demonstrated outstanding academic achievement, leadership, and impact. The McKinsey Award includes a $10,000 scholarship. It is open to all incoming MBA students at the MIT Sloan School of Management regardless of professional experience and interest. Applicant may indicate interest in applying for the McKinsey Award while filling the MIT Sloan application.
Forté Fellowships
- Forté Fellows are women who have demonstrated exemplary leadership, come from diverse backgrounds, and are committed to advancing women in business.
- They are awarded scholarships by Forté partner business schools, which have collectively awarded over $400 million to more than 16,000 Forté Fellows.
- The selection process for Forté Fellows is as follows:
- A student applies to a Forté partner business school.
- If the student is admitted, they are considered for all scholarship opportunities through that institution.
- The partner school selects its Forté Fellows.
- The partner school notifies Forté of its selections.
These are just a few of the many MBA fellowships that are available. If you are interested in applying for a fellowship, be sure to research the different programs and requirements carefully.
If you are interested in applying for an MBA fellowship, I recommend that you start your research early. There are a lot of great fellowships out there, but they can be competitive to get. By starting your research early, you will give yourself the best chance of being awarded a fellowship and getting the financial assistance you need to pursue your MBA degree.
Contact us to learn more about applying for scholarships and funding! Over the years, students working with us have collectively amassed over $15 million.
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