A Master’s in Business Administration – or MBA in short, can be a great stepping stone not only for a career in business, but also plenty of other job opportunities. While many people want to complete an MBA degree, a lot find it impossible because of high tuition fees. Luckily, there are some great MBA scholarships that can help you finance your education and get into the job market with a leg up on others. These 4 tips will help you find an MBA scholarship that is right for you, so you'll be able to get this desirable degree.
1. Search for in-school funding
Plenty of great schools throughout America offer scholarships to students that attend them, which include MBA scholarships. When you apply for an MBA, search for schools that offer in-house scholarships to applicants, or students that go to them. You can also go to the school's secretary to find out about scholarship programs that can provide you with the funds to finance your education. Many schools also offer a free ride if you use your MBA for public sector work or non-profit work. These loan forgiveness programs can help you finance your studies and also get experience (even if it's not paid), so ask the secretary if the school has such a program.
2. Research people that got MBA scholarships
A lot of MBA scholarships don't list clear criteria of what they are looking for in candidates. Some programs state that they are looking for XYZ candidates, and you can't really be sure if you fit the bill by the description. So, if you want to find out if you have what it takes to get a scholarship in certain schools, contact previous recipients. Find them by asking the admissions staff for their email addresses, or attending recruiting events. Don't be shy about writing to the people who got scholarships in the but remember to be polite about it. Also, be honest and tell them that you are looking to get an MBA scholarship and that you are contacting them to find out what helped them get it. Ask about grades, volunteer work and any other thing that can help you find out if you answer the criteria the school is looking for.
3. Step outside the school
Besides in-house MBA scholarships, you can also get outside funding from FindAid and similar websites. You will be asked questions about yourself, including your demographic information, to find out if your eligible for financial assistance.
4. Search for criteria MBA scholarships
There are plenty of places today that grant an MBA scholarship based on different criteria, like grades in your BA, financial status, family status, personal background, identity etc. The identity scholarships grant financial assistance based on your identity, such as scholarships for women, scholarships for different races, scholarships based on religious identity and more. Do your research and find an MBA scholarship program that suits you and that you have a high chance of getting.
If you are looking for MBA scholarships, the internet can be your best friend. Do the research inside and outside the schools you want to apply to and find the best programs for you. It might take you a while to find funding for your MBA, but it will be a lot shorter than paying off student loans for years to come.