Paying for an MBA is a big financial commitment but you don’t have to face it all on your own. There are tons of scholarships and fellowships available to help business students cover the cost of an MBA program. The trick is locating the right ones – and winning them. Several MBA scholarship opportunities are highlighted in this guide, along with helpful advice from two MBA scholarship recipients. Find out what you can do to increase your chances of landing a grant, as well as how to avoid the things that can quickly take you out of the running.

Scholarships for MBA Students

Most MBA scholarships are school-specific, meaning they’re only open to students who have been admitted to a school’s MBA program. But some scholarships aren’t tied to a particular business school. Below is a sample of such opportunities. The list includes some awards specifically for MBA students as well as awards that are open to anyone pursuing a graduate degree. Keep in mind application requirements can change from year to year, so be sure to carefully review all details and deadlines before applying.

MBA Scholarships
Open to All Students

AICP Scholarship Program

  • Amount: $1,500
  • Deadline: June 2

Applicants must have a minimum 3.0 GPA. Awards based on GPA, extracurricular activities, and interest and dedication to the insurance industry. Students must be enrolled in an insurance or business-related field. Sponsored by the Association of Insurance Compliance Professionals. Dan M. Reichard Jr. Scholarship

  • Amount: $2,500 to $5,000
  • Deadline: June 16

Offered to sophomores, juniors, seniors, and graduate students. Applicants must have at least a 3.0 GPA and demonstrate an interest in a business administration/management career in the public transportation industry. Applicants must also be sponsored by a member organization of the American Public Transportation Association. Golden Key Graduate Scholar Award

  • Amount: $10,000
  • Deadline: December 15

Available to full- and part-time students pursuing a post-baccalaureate or professional studies degree. The scholarship can be used at accredited universities throughout the world. Applicant must be a Golden Key member. Government Finance Officers Association (GFOA) Scholarships

  • Amount: $5,000 to $15,000
  • Deadline: January 26

The GFOA sponsors several scholarships for full- and part-time students interested in careers in state or local government finance. Applicant must be a citizen or permanent resident and can’t be a past winner. Individual scholarships may have additional requirements.HubShout Internet Marketing Scholarship

  • Amount: $1,000
  • Deadline: March 1 and November 1

Open to students with at least one year of college, a minimum 3.0 GPA, and a demonstrated passion for internet marketing.Lance Surety Bonds Scholarship

  • Amount: $1,500
  • Deadline: December 15

Awards are based on a written essay on one of three given topics – what would be your motivation to start a small business, how does the U.S. economy benefit from surety bonds, or an essay on the auto dealership, freight brokerage, construction, or mortgage brokerage. Applicant must be currently enrolled in a U.S.-based degree program. Mary Elizabeth Lockwood Beneventi MBA Scholarship

  • Amount: $2,000
  • Deadline: February 15

This is a Daughters of the American Revolution-sponsored award specifically for full-time MBA students. Renewable only with reapplication. Applicant must have a minimum 3.25 GPA. Ritchie-Jennings Memorial Scholarship Program

  • Amount: $1,000, $2,500, $5,000 and $10,000
  • Deadline: January 29

The recipient must be currently enrolled in a full-time degree program and demonstrate a desire to pursue a career in fraud examination or a similar anti-fraud profession. Staver Law Group National Scholarship

  • Amount: $5,000
  • Deadline: December 1

This annual award is available to undergraduate and graduate students enrolled in an accredited U.S. degree program. Applicant must have a minimum 3.0 GPA. Thomas R. Pickering Foreign Affairs Fellowship

  • Amount: Up to $37,000 annually
  • Deadline: January 12

Available to students enrolled in a two-year master’s degree program in a field related to the U.S. Department of State Foreign Service (including business administration). Requires two summer internships and employment in the Foreign Service upon graduation.