An MBA can be a strong way to accelerate your business career, but no one wants to graduate with heavy debt. Beyond contacting your school’s financial aid office, it’s worth researching external MBA scholarships and grants.
Many MBA scholarships favor merit or financial need. Others prioritize applicants who are women, veterans, and minority students. Below is a curated list, plus common requirements, practical tips, and an FAQ to help you build a shortlist.
Last verified: February 2026. Scholarship amounts and deadlines can change. Always confirm details on the sponsor’s site before you apply.
Top picks at a glance
If you only have 20 minutes, start here. This table is designed to help you shortlist quickly, then confirm details on each sponsor page.
| Scholarship | Amount | Deadline | Best for | Key requirement | Apply |
|---|---|---|---|---|---|
| SHRM Foundation Scholarships | Up to $5,000 | March 13, 2026 | HR and related business tracks | SHRM membership, GPA requirements | Sponsor page |
| LAGRANT Foundation Graduate Scholarships | $3,750 | February 27, 2026 (5:00 p.m. PT) | Advertising, marketing, PR | Ethnically diverse background, GPA minimum | Sponsor page |
| Ritchie-Jennings Memorial Scholarship | $2,000 to $10,000 | February 2, 2026 | Accounting, finance, fraud-focused careers | Full-time enrollment, fraud career interest | Sponsor page |
| Prospanica Scholarship Program | Up to $5,000 | April 19, 2026 (11:59 p.m. PT) | Hispanic, Latino applicants | Program-specific eligibility, often membership | Sponsor page |
| VFW Sport Clips Help A Hero Scholarship | Up to $5,000 | Fall: Jan 1 to Apr 30, Spring: Aug 1 to Nov 15 | Veterans and service members | Service status and need-based criteria | Sponsor page |
| Pat Tillman Foundation Tillman Scholars | Varies | February 1, 2026 | Veterans, active duty, spouses | Accepted into an eligible program | Sponsor page |
General scholarships for MBA students
Mary Elizabeth Lockwood Beneventi MBA Scholarship
Amount: $2,000
The Mary Elizabeth Lockwood Beneventi Scholarship is awarded by the Daughters of the American Revolution. It is for full-time students pursuing an MBA who are U.S. citizens. Because it is not automatically renewed, recipients should expect to reapply in future cycles.
Related: Graduate School Scholarships Guide
Government Finance Officers Association (GFOA) Scholarships
Amount: $10,000 to $25,000
The GFOA offers a range of scholarships for students pursuing public-sector finance careers. Programs vary, so confirm eligibility, citizenship or residency requirements, and whether prior recipients are excluded.
- Goldberg-Miller Public Finance Scholarship (up to $25,000)
- Frank L. Greathouse Government Accounting Scholarship (up to $10,000)
- Government Finance Professional Development Scholarship (up to $10,000)
Related: The Ultimate Guide to a Master’s in Economics
SHRM Foundation Scholarships
Amount: Up to $5,000
Deadline: March 13, 2026
SHRM Foundation scholarships and grants are designed for students in HR and related areas (business, economics, organizational development, psychology). SHRM publishes a current calendar showing applications open January 12, 2026 and close March 13, 2026, depending on the scholarship or grant.
Ritchie-Jennings Memorial Scholarship
Amount: $2,000 to $10,000
Deadline: February 2, 2026
The Ritchie-Jennings Memorial Scholarship supports students with majors in accounting, business, finance, or fraud-related disciplines who show clear interest in an anti-fraud career path. ACFE publishes an application window and deadline each cycle.
MBA scholarships for women
Zonta Women in Business Leadership Award
Amount: Varies by cycle
Deadline: Varies, Zonta notes the 2025 deadline is closed and to check back in September 2026
This award is Zonta’s current business-focused scholarship pathway. Start at the sponsor page, then confirm whether you apply via a local club or via the international process.
AAUW Fellowships and Grants
Amount: $2,000 to $50,000
Deadline: Varies
AAUW fellowships and grants support women pursuing graduate study. Since programs vary widely, confirm eligibility and deadlines for the specific fellowship you target.
Related: Top Scholarships for Women
MBA scholarships for minorities
LAGRANT Foundation Graduate Scholarships
Amount: $3,750
Deadline: February 27, 2026 (5:00 p.m. PT)
LAGRANT Foundation scholarships support students from ethnically diverse backgrounds pursuing graduate study in advertising, marketing, public relations, and related fields. The foundation’s application process page lists the 2026 deadline and timing details.
Goldman Sachs MBA Fellowship
Amount: $35,000 (plus internship pathway)
Deadline: Rolling
The Goldman Sachs MBA Fellowship is designed for first-year MBA students with strong academic performance and leadership, with a stated focus on diversity and inclusion. Confirm current eligibility criteria and process on the sponsor page.
Hispanic Scholarship Fund (HSF)
Amount: $500 to $5,000
Deadline: February 14, 2026
The Hispanic Scholarship Fund scholarship supports students with Hispanic heritage. Requirements vary by cycle, so verify GPA minimums and submission details on the sponsor site.
Study.com Indigenous Student Scholarship
Amount: $1,000
Deadline: May 1, 2026
Indigenous students pursuing a graduate degree in any field can apply if enrolled full-time at a U.S. institution. Start here: Study.com scholarships.
National Black MBA Association (NBMBAA) Scholarships
Amount: Varies
The NBMBAA scholarship list aggregates opportunities and university programs. Deadlines and requirements differ by scholarship and school.
Related: Scholarships for Black Students
Robert Toigo Foundation Fellowship
Amount: $5,000 (often renewable)
Deadline: March 27, 2026
The Robert Toigo Foundation Fellowship supports students pursuing finance-related careers. Confirm internship and participation requirements before applying.
Prospanica Scholarship Program
Amount: Up to $5,000
Deadline: April 19, 2026 (11:59 p.m. PT)
The Prospanica scholarship program publishes application open and close dates for 2026, plus eligibility requirements.
Reaching Out MBA (ROMBA) Fellowship
Amount: Typically $20,000 minimum (varies by school)
Deadline: Varies by institution
The ROMBA Fellowship is administered through participating business schools rather than a single centralized application. Each school selects its fellows, so your strategy is to express interest during admissions and connect with the school’s LGBTQ+ student organization.
MBA scholarships for veterans
VFW Sport Clips Help A Hero Scholarship
Amount: Up to $5,000
Application windows: Jan 1 to Apr 30 (fall), Aug 1 to Nov 15 (spring)
This VFW scholarship supports eligible service members and veterans who demonstrate financial need. Confirm eligibility details on the sponsor page.
Pat Tillman Foundation Tillman Scholars
Amount: Varies
Deadline: February 1, 2026
The Pat Tillman Foundation lists the 2026 deadline and eligibility on its application page.
Women Marines Association Scholarships
Amount: Up to $5,000
Deadline: March 31, 2026
The Women Marines Association offers multiple named scholarships. Confirm which apply to you, then build a checklist of documents required.
- Agnes Sopcak Memorial Scholarship
- Ethyl and Armin Wiebke Memorial Scholarship
- Fallen Warrior Scholarship
- LRue A. Ditmore Music Scholarship
- Lily H. Gridley Memorial Scholarship
- Major Meghan McClung Memorial Scholarship
- Virginia Guveyan Memorial Scholarship
- WMA Memorial Scholarship
National Military Family Association Scholarships
Amount: $500 to $2,500
Deadline: Ongoing, awards by cycle
NMFA spouse scholarships typically accept submissions year-round with quarterly cycles, so treat it like a rolling deadline and apply as soon as your documents are ready.
Yellow Ribbon Program
Amount: Varies
The Yellow Ribbon Program can cover tuition and fees beyond the Post-9/11 GI Bill at participating schools. Availability is often first-come, first-served and depends on the institution.
Common application requirements for MBA scholarships
Exact requirements vary, so triple-check each scholarship’s instructions. Still, many MBA scholarships ask for the same core materials, which is why a reusable document pack helps.
- A bachelor’s degree from an accredited institution
- Minimum GPA (often 3.0 or higher)
- An interview (in-person or video) for some programs
- A strong personal statement and one or more essays
- Letters of recommendation
- Standardized scores in some cases (GRE or GMAT)
- Proof of citizenship or residency for U.S.-restricted programs
Related: Free Online Master’s Programs
Tips to improve chances of earning an MBA scholarship
A strong application is clear, specific, and easy to evaluate. Your job is to remove doubt for the reviewer.
Objectives and motivation
Committees want to see a credible plan. Be specific about why an MBA matters to your career path, and what you will do with it. Scholarship essays should connect your goals to the sponsor’s mission, not just describe ambition.
Academic background and preparation
- Meet or exceed GPA requirements and show strength in relevant coursework.
- Highlight relevant credentials and professional certifications when they support your story.
- Show real-world application through projects, leadership roles, measurable outcomes, and impact.
Character, leadership, and recommendations
Your letters should validate leadership, work ethic, and maturity. Ask early, provide context, and give recommenders enough time to write something specific.
Complete, accurate documentation
Many strong applicants get eliminated on technicalities. Build a checklist for each scholarship, then verify you have every required credential before submission.
Avoid these MBA scholarship application mistakes
Starting too late
Most deadlines require transcripts, essays, and letters. Build your document pack early so you can apply to more opportunities with less stress.
Applying to only one scholarship
Applying broadly matters. If you apply to 8 to 12 scholarships that match your profile, your odds improve dramatically compared to “one perfect application” thinking.
Not tailoring your essay
Generic essays are easy to spot. Tailor your motivation, leadership examples, and career plan to the sponsor’s priorities.
Skipping the final quality check
Proofread everything. Small mistakes reduce confidence in your attention to detail.
FAQ
Below are common questions people ask when searching for MBA scholarships. Use them to pressure-test your plan, then build a shortlist.
Are MBA scholarships common?
Yes. Between business schools, professional associations, nonprofits, and employer programs, there are many opportunities. The key is matching eligibility and applying broadly rather than hunting for a single full-ride.
Can I get a full scholarship for an MBA?
It happens, but it is less common than partial awards. The more realistic approach is stacking multiple sources, including school merit aid, employer tuition support, and external scholarships.
What is the fastest way to find scholarships I actually qualify for?
Start with your business school’s scholarship portal, then add two to three identity or industry categories that match your profile. Build a shortlist of 8 to 12 options and track eligibility and deadlines in one place.
Do MBA scholarships require the GMAT or GRE?
Some do, many do not. Scholarship requirements often follow admissions requirements, but external sponsors may focus more on leadership and career plans than test scores.
Do I need to be accepted into an MBA program before applying?
Often yes, especially for school-based scholarships. Some external scholarships allow you to apply while you are applying to programs, but they typically require proof of enrollment before funds are disbursed.
Are scholarships different for full-time vs part-time MBAs?
Yes. Some awards require full-time enrollment, while others are flexible. Part-time students should prioritize employer tuition benefits and school-based awards designed for working professionals.
Can I get scholarships for an online MBA?
Yes. Many schools extend merit aid to online cohorts, and some external sponsors accept accredited online programs. Confirm accreditation and eligibility language before you spend time on essays.
Are there MBA scholarships for international students?
Yes, but U.S.-restricted scholarships are common. International applicants should prioritize school merit aid, global foundations, and awards without citizenship requirements.
How many scholarships should I apply for?
A practical target is 8 to 12 per cycle, assuming they are genuinely good fits. If you can reuse a core essay and customize it quickly, you can scale higher without sacrificing quality.
What GPA do I need for MBA scholarships?
Many programs set 3.0 as a minimum, but competitive awards often trend higher. If your GPA is lower, focus on leadership roles, professional performance, and a strong essay narrative.
What matters more, financial need or merit?
It depends on the scholarship. Some are strictly need-based, others are strictly merit-based, and many are blended. Treat it like matching, align your application to the sponsor’s stated criteria.
What should my scholarship essay focus on?
Clear objectives, evidence of leadership, and a credible plan for real-world application after graduation. Use one or two strong examples, quantify outcomes, and connect your goals to what the sponsor values.
How do I make leadership sound real instead of vague?
Use specific projects and results. Name the problem, what you did, who you influenced, and what changed, revenue, cost, retention, customer outcomes, or a measurable process improvement.
Do scholarships require interviews?
Some do, especially higher-dollar awards. Prepare a tight two-minute story of your goals and why an MBA is the right tool, then be ready to explain your impact with numbers.
How early should I request recommendation letters?
At least three to four weeks before the deadline. Provide your resume, a short summary of the scholarship, and bullet points of the achievements you want them to emphasize.
How do I ask a school to reconsider merit aid?
Be respectful and specific. Share competing offers if you have them, restate your fit and intended contribution, and ask whether additional scholarship or fellowship funding is available.
Can I combine multiple scholarships?
Usually, but some programs reduce awards if you receive overlapping funding. Always read the fine print, especially school-based awards that coordinate with other aid.
Will a scholarship affect my financial aid package?
It can. Some scholarships reduce loan eligibility or change need calculations. If you are stacking funding, talk to the financial aid office so you understand what changes and what does not.
How do I avoid scholarship scams?
Do not pay to apply, verify the sponsor’s official domain, and be cautious if sensitive personal data is requested too early. If it feels off, step back and confirm through official channels.
What are the most common reasons applicants get rejected?
Not meeting eligibility, generic essays, missing documents, weak recommendations, or submitting late. Most failures are process failures, not talent failures.
What documents should I prepare once and reuse?
A master resume, a core personal statement, a leadership story bank, transcripts, a list of references, and a standardized “achievements” document you can paste into applications quickly.
How should I track deadlines and requirements?
Use a spreadsheet with columns for scholarship name, link, amount, deadline, eligibility notes, required documents, and status. Add reminders two weeks and three days before each deadline.
What if a scholarship deadline says rolling or varies?
Treat it like an earlier deadline. Rolling programs can fill early, and variable deadlines often depend on local chapters or participating schools, so your best move is to confirm and apply as soon as your materials are ready.
Are employer-sponsored MBA scholarships worth pursuing?
Often yes, especially for part-time MBAs. Employer tuition reimbursement can be one of the biggest funding sources available, but it may include a service commitment, so read your agreement carefully.
Do scholarships cover more than tuition?
Some cover fees, books, or living expenses, but many are tuition-directed. Always confirm how funds are disbursed and whether they are paid to you or directly to the institution.
Final thoughts
If you are pursuing an MBA, you should treat scholarships like a project. Shortlist intelligently, reuse a strong document pack, and apply to enough programs that your odds are not dependent on one committee’s preferences.
Interested in other lucrative educational paths? See our list of highest-paying PhDs.
Lisa is a full-time writer specializing in career advice, further education, and personal development. She works from all over the world, and when not writing you'll find her hiking, practicing yoga, or enjoying a glass of Malbec.
