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Since applying for MBA scholarships is a time-consuming process, you need to focus on applying for the scholarships you have the best chance of getting. That's why it's a good idea to know about the five basic types of MBA scholarships.
MBA Scholarships
The types of scholarships are:
Need-based scholarships. To apply, you must provide evidence of financial need since your financial status will be assessed.
Merit-based scholarships. Common qualifications include excellent academic performance, leadership and professional experience. Most universities offer merit-based scholarships.
Combination scholarship. Scholarship criteria is based on both the need and the merits of an applicant.
Targeted scholarships. These are scholarships designed for specific groups, such as women or students from developing countries. This may be your best bet, since many scholarship organizations are looking for someone who fits their target demographic.
Essay-based scholarships. If you don't meet the qualifications for other types of scholarships, writing a well-thought out and convincing essay may be your best hope for getting an MBA scholarship. The Tippie School of Management at the University of Iowa even has a Twitter-inspired essay competition which rewards students who submit the best tweet-style essays.
Most scholarships require you to write an additional essay as part of the application process.
Find a Scholarship
Scholarship search engines aren't the only way to learn about MBA scholarships. There are several general web search tools that can help you find MBA scholarships, as well as MBA related groups and the colleges themselves
Google alerts. Subscribe to updates for the term “MBA scholarships” and any keyword that’s most relevant to you such as "MBA scholarships for women". You get daily email updates which will tell you about MBA scholarships that were recently mentioned online and in news publications.
Google News - Google News is a good way to find news stories related to MBA scholarships, especially those about new scholarships or scholarships that are receiving more funding. You can get to Google News from the general Google search page by clicking on the "News" tab.
MBA Fairs (such as Connect 1-2-1 and the World MBA Tour) are another good source of scholarship information. For example, QS will award $1.2 million worth of scholarship money in 2012. While the application deadline has passed for this year, attending QS MBA fairs will allow you to apply for future scholarships by responding to an essay question.
Business School Scholarship Websites. In addition to listing their own scholarships, business school admissions websites usually list outside sources of funding. They are an excellent resource for reliable scholarship information and also give you a sense of the specialized scholarship options out there for MBA applicants.
Scholarship Tips
Here are some tips for successful MBA scholarship applications:
Be sure to look into industry-specific scholarships.
Ask around. Some smaller organizations may not have a dedicated scholarship fund, but may be willing to do a small private act of philanthropy.
Make sure you use a reliable scholarship search engine.
Be aware of the scholarship scams out there. Do not use any scholarship search engines that charge a fee or require you to give your social security number.
Make sure you have a strategy or an advisor to help you so you can best plan your time. Applying for scholarships can be a time-consuming process.
Reflect on your unique selling points in order to prepare for scholarship essays. What makes you unique? How will you enrich your MBA class? How have you gone above and beyond what's expected of you?
Nicole is the SEO manager of TopMBA.com, as well as a contributing author. She holds a BA in history and sociology, and a master's in library science. Aside from her work for QS, Nicole is a long-time contributing editor and administrator for WikiHow.
How to Get an MBA Scholarship
By Nicole Willson
Updated January 22, 2015 Updated January 22, 2015Since applying for MBA scholarships is a time-consuming process, you need to focus on applying for the scholarships you have the best chance of getting. That's why it's a good idea to know about the five basic types of MBA scholarships.
MBA Scholarships
The types of scholarships are:
Most scholarships require you to write an additional essay as part of the application process.
Find a Scholarship
Scholarship search engines aren't the only way to learn about MBA scholarships. There are several general web search tools that can help you find MBA scholarships, as well as MBA related groups and the colleges themselves
Scholarship Tips
Here are some tips for successful MBA scholarship applications:
Apply for US$1.7 million of QS MBA Scholarships
image source.
This article was originally published in July 2012 . It was last updated in January 2015
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Nicole is the SEO manager of TopMBA.com, as well as a contributing author. She holds a BA in history and sociology, and a master's in library science. Aside from her work for QS, Nicole is a long-time contributing editor and administrator for WikiHow.
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