Best Part-Time MBA Scholarships

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Best Part-Time MBA Scholarships

A part-time MBA program can be a great way to earn your MBA while continuing to work. However, the cost of an MBA can be prohibitive, especially for part-time students who are not able to take a break from their careers to focus on their studies full-time.

Fortunately, there are a number of scholarships available to part-time MBA students. These scholarships can help to offset the cost of tuition, books, and other expenses associated with earning an MBA.

In this guide, we will discuss the best part-time MBA scholarships available to students in the United States. We will also provide tips on how to apply for these scholarships and increase your chances of winning.

Types of Part-Time MBA Scholarships

There are a variety of different types of part-time MBA scholarships available, including:

  • Merit-based scholarships: These scholarships are awarded to students based on their academic merit, such as their GPA and GMAT score.
  • Need-based scholarships: These scholarships are awarded to students based on their financial need.
  • Employer-sponsored scholarships: Some employers offer scholarships to their employees who are pursuing an MBA degree.
  • Diversity scholarships: These scholarships are awarded to students from underrepresented groups, such as women, minorities, and veterans.
  • Industry-specific scholarships: These scholarships are awarded to students who are interested in pursuing a career in a specific industry, such as healthcare, technology, or finance.
  • School-specific scholarships: Some MBA schools offer their own scholarships to part-time students.

How to Find Part-Time MBA Scholarships

There are a number of ways to find part-time MBA scholarships. Here are a few tips:

  • Visit the websites of MBA schools: Most MBA schools have a financial aid page on their website where they list all of the scholarships that they offer to part-time students.
  • Search for scholarships online: There are a number of websites that list scholarships for part-time MBA students. Some of these websites include:
    • Scholarships.com
    • Fastweb
    • College Board
  • Talk to your employer: Some employers offer scholarships to their employees who are pursuing an MBA degree. Ask your employer if they offer any scholarships or tuition reimbursement programs.
  • Contact professional organizations: There are a number of professional organizations that offer scholarships to their members. If you are a member of any professional organizations, be sure to check their websites to see if they offer any scholarships.

How to Apply for Part-Time MBA Scholarships

The application process for part-time MBA scholarships varies depending on the scholarship. However, most scholarship applications require the following:

  • A completed application form: This form will typically ask for your personal information, academic information, and financial information.
  • Essays: Most scholarship applications require you to write one or more essays. The essays may ask you to discuss your academic and professional goals, your financial need, or your commitment to diversity and inclusion.
  • Letters of recommendation: Some scholarship applications require you to submit letters of recommendation from professors, employers, or other individuals who can speak to your qualifications.

Tips for Winning Part-Time MBA Scholarships

Here are a few tips for winning part-time MBA scholarships:

  • Start early: The earlier you start applying for scholarships, the more time you will have to complete the applications and increase your chances of winning.
  • Be organized: Keep track of all of the scholarships that you are applying for and their deadlines.
  • Write strong essays: Your essays are your opportunity to tell the scholarship committee why you deserve the scholarship. Be sure to write clear, concise, and well-organized essays that highlight your qualifications and goals.
  • Get good letters of recommendation: Ask your professors, employers, or other individuals who can speak to your qualifications to write letters of recommendation for you.
  • Proofread your applications carefully: Before submitting your scholarship applications, be sure to proofread them carefully for any errors.

Merit-Based Scholarships

Merit-based scholarships are awarded to students based on their academic merit, such as their GPA and GMAT score. Some of the best merit-based scholarships available to part-time MBA students include:

  • The Forté MBA Fellowship: This fellowship is awarded to women who are pursuing an MBA degree at one of the Forté Foundation’s partner schools. The fellowship provides up to $20,000 in tuition assistance.
  • The Consortium for Graduate Study in Management (CGSM) Fellowship: This fellowship is awarded to underrepresented minority students who are pursuing an MBA degree at one of the CGSM’s partner schools. The fellowship provides full tuition assistance, a living stipend, and professional development opportunities.
  • The Paul & Daisy Soros Fellowships for New Americans: These fellowships are awarded to immigrants and refugees who are pursuing a graduate degree in the United States. The fellowships provide up to $50,000 in tuition assistance and living expenses.

Need-Based Scholarships

Need-based scholarships are awarded to students based on their financial need. Some of the best need-based scholarships available to part-time MBA students include:

  • The Federal Pell Grant: The Pell Grant is a federal grant that is awarded to undergraduate and graduate students with demonstrated financial need. The maximum Pell Grant award for the 2023-2024 academic year is $7,395.
  • The Federal Stafford Loan: The Stafford Loan is a federal loan that is available to undergraduate and graduate students. The interest rate on the Stafford Loan is 5.28% for the 2023-2024 academic year.
  • The Federal Graduate PLUS Loan: The Graduate PLUS Loan is a federal loan that is available to graduate students. The interest rate on the Graduate PLUS Loan is 6.54% for the 2023-2024 academic year.

Employer-Sponsored Scholarships

Some employers offer scholarships to their employees who are pursuing an MBA degree. To find out if your employer offers any scholarships, contact your human resources department.

Diversity Scholarships

Diversity scholarships are awarded to students from underrepresented groups, such as women, minorities, and veterans. Some of the best diversity scholarships available to part-time MBA students include:

  • The National Black MBA Association (NBMBAA) Scholarship: This scholarship is awarded to African American students who are pursuing an MBA degree at an NBMBAA partner school. The scholarship provides up to $10,000 in tuition assistance.
  • The Hispanic Scholarship Fund (HSF) MBA Fellowship: This fellowship is awarded to Hispanic students who are pursuing an MBA degree at an HSF partner school. The fellowship provides full tuition assistance and a living stipend.
  • The Association of Latino Professionals in Finance and Accounting (ALPFA) Scholarship: This scholarship is awarded to Latino students who are pursuing an MBA degree in finance or accounting. The scholarship provides up to $5,000 in tuition assistance.

Industry-Specific Scholarships

Industry-specific scholarships are awarded to students who are interested in pursuing a career in a specific industry, such as healthcare, technology, or finance. Some of the best industry-specific scholarships available to part-time MBA students include:

  • The American Hospital Association (AHA) Graduate Healthcare Management Fellowship: This fellowship is awarded to students who are pursuing an MBA degree with a concentration in healthcare management. The fellowship provides up to $25,000 in tuition assistance and a paid internship at a hospital.
  • The Association for Computing Machinery (ACM) Scholarships: The ACM offers a variety of scholarships to students who are pursuing an MBA degree in computer science or information technology. The scholarships provide up to $10,000 in tuition assistance.
  • The Financial Industry Regulatory Authority (FINRA) Foundation Scholarships: The FINRA Foundation offers a variety of scholarships to students who are pursuing an MBA degree in finance or accounting. The scholarships provide up to $10,000 in tuition assistance.

School-Specific Scholarships

Some MBA schools offer their own scholarships to part-time students. To find out if the MBA school you are interested in offers any scholarships, contact the school’s financial aid office.

Conclusion

Earning an MBA can be a great way to advance your career. However, the cost of an MBA can be prohibitive. Fortunately, there are a number of scholarships available to part-time MBA students. By following the tips above, you can increase your chances of winning a part-time MBA scholarship.

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