Everyone who’s got an MBA commands high-level respect in any business. MBA is one of the highest and most respected certificates in the business space. If you achieve an MBA, you’d be among the highest-paid executives in any business setting.
But acquiring an MBA can be very expensive if you pay all the fees by yourself. Thus, most qualifying students seek MBA scholarship programs and offerings. American universities are some of the best in the world, and most of them offer fully-funded scholarships to international students. Here’s a list of the best-funded MBA scholarships in the USA and Canada.
2023 List of Funded MBA Scholarships in the USA and Canada
Getting a Master in Business Administration (MBA) is a great way to advance your leadership career in any business field. But acquiring an MBA can be very expensive; if you don’t have solid financial backing, try out these scholarship options – you could qualify for, and win one.
But, to win any of these scholarships, there are requirements you need to fulfill; these requirements include:
- You must be a native citizen or hold a permanent residency permit in the United States or Canada.
- Your GPA must be high and competitive
- You must have excellent academic achievements during your undergraduate studies, which include having high grades in courses relevant to an MBA program.
- You must have financial needs, as assessed by the admissions committee.
- You must have demonstrated leadership and teamwork skills.
1. University of British Columbia (UBC) Scholarships
The UBC offers partial-funding MBA scholarships to qualified applicants through different programs. The available course of study under this scholarship is Business Management. This scholarship saves you between $10,000 and $60,000 annually, depending on how you got it. Entry usually closes around March to June each year for this scholarship.
2. Forte MBA Fellowships 2023
Forte MBA Fellowship scholarships are merit-based and open to all nationals. The association is legally present in over 50 countries, including USA and Canada. Forte Fellowships cover the tuition fees of their awarded MBA scholars.
Since it’s a partial funding scholarship, you’d still have to pay for most other resources and fees to acquire your MBA certification. Disciplines include Business, Engineering, Economics, Humanities/Social Science, Information Systems/Computer Science, and Mathematics/Physical Science.
3. Harvard University – MBA Scholarships In the US 2023
Luckily, we’re in 2023, and it’s the year Harvard’s full-funding MBA scholarships will be awarded. The Boustany MBA Harvard Scholarship is granted once every two years for a two-year course at the Harvard Business School.
If you’re lucky to win this scholarship, it is fully funded, which means that all major expenses are already being taken care of. This scholarship is set to be awarded next for the class commencing in Autumn 2023; it is one of the best business scholarships out there. You could be saving over $100k!
4. Rotman School of Management Scholarship
The Rotman Scholarship is provided by the University of Toronto in Canada. If you’re able to get this scholarship, you won’t pay tuition fees; this is one of the largest and most prestigious entrance scholarships to get good support to push your MBA certification.
But, only two exceptional students can get this scholarship. This means that every year, the scholarship is awarded to two exceptional students in honor of the Rotman School of Management’s lead benefactor, Joseph L. Rotman.
5. Hoegg Family MBA Scholarship
You could win the Hoegg Family MBA Scholarship to study at the Sauder School of Business. This scholarship is awarded to two exceptional female students by the Hoegg Family; the scholarship saves you $25,000 of the fees you’d need to pay to get your MBA certification.
One of the awards is given to a female International student and the other to a female Canadian citizen or permanent resident. It is merit-based – given to the top best scholars based on academic merit and leadership skills.
6. NYU Stern School Of Business – William R. Berkley Scholarships
The William R. Berkley Scholarship Program was started in 2013 to support exceptional NYU College seniors who wish to push further their academic pursuits and obtain an MBA. So, if you’re not a student of NYU College, you can’t get this scholarship.
William R. Berkley Scholarships help students pursue their MBA full-time at NYU Stern as part of the NYU x NYU / Stern program. This scholarship offers the students a $10,000 Early Advancement Award, which is applied to their Full-time MBA tuition upon enrolling at NYU Stern. Check your eligibility before applying for this scholarship – you need a minimum 3.50 GPA.
7. MBA Fellowship- Goldman Sachs
Banks too offer scholarships to their employees and probably one or two other people that meet their eligibility requirements. That said, Goldman Sachs has a program that takes care of some funds required for their qualified employees to pursue an MBA. To put it in clearer detail, “Goldman Sachs offers employees tuition assistance to pursue MBAs, as well as MBA fellowships to first-year business school students,” Investopedia.
8. Hari Varshney MBA Entrance Scholarship
If you’re able to get this scholarship program, it’d save you 50% of your tuition fees for the first year of getting admitted for an MBA degree at the University of British Columbia (UBC). This scholarship award was made on the recommendation of the Sauder School of Business and preference is given to international students. So, if you’re not a Canadian citizen or PR permit holder, you stand a better chance of getting this scholarship award.
How to Apply for an MBA Scholarship
There is no “one-method-for-all” procedure for applying to get an MBA scholarship. However, listed hereunder are the common requirements/application stages.
- A bachelor’s degree from an accredited institution
- A GPA of at least 3.0.
- Personal statement of objectives
- Letters of recommendation
- GMAT or GRE score reports (maybe optional)
- Proof of citizenship or permanent residency in the United States or Canada
- Check if you qualify for an MBA scholarship and apply through the scholarship program/provider.
- Submit all the required documents and data
- Pay the fees and attend the interview
- Get admitted.