Scholarships Application Documents

Scholarships for MBA students | ZDNet

A black college student raises her hand in a classroom. Klaus Vedfelt/DigitalVision/Getty ImagesMany students take out loans to enjoy the benefits of a master’s degree. The master of business administration (MBA) is one of the most popular degrees. In June 2022, Payscale reported an average salary of $92,000 for MBA graduates. 

However, the total national student loan debt continues to increase each year. According to the Education Data Initiative, over half of master’s degree holders owe an average of $70,000. 

Individuals can enjoy that lucrative salary without substantial student debt. Other financial aid options exist — like scholarships. 

Start your scholarship search with our lists below. You can explore academic, identity, and need-based MBA scholarships. Though the 2022 deadlines for some have passed, we chose popular programs likely to open for new applicants in 2023.

For extra financial aid resources, check your state government’s website. You can also consider federal aid or general scholarships

General MBA scholarships

The most common MBA scholarships include need and merit-based awards. Some options below require a specific MBA concentration. Other scholarship programs accept applicants from various degree programs.  

SEE: What MBA should I get? Choosing your MBA concentration

Association of Certified Fraud Examiners Ritchie-Jennings Memorial Scholarship

Amount: $1,000-$10,000
Deadline: February 6, 2023 (application opens September 15, 2022)
Eligibility limitations: Full-time graduate student studying business administration, criminal justice, finance, or accounting; taking at least six credit hours; enrolled through 2024; interested in an anti-fraud career

About: Applicants must show interest in fraud examination. They can share career goals, extracurricular activities, or fraud-related interests. Students submit transcripts and recommendation letters with the online application.

Apply now

Association of Insurance Compliance Professionals (AICP) scholarships 

Amount: $2,000
Deadline: June 2023
Eligibility limitations: Undergraduate/graduate student with a declared major in risk management, finance, economics, management, actuarial science, math, statistics, or business; 3.0 minimum GPA; completed two years of full-time college coursework

About: The AICP requests transcripts and a recommendation letter. Applicants must also write about their plans in the insurance field. Other application materials include a description of extracurricular and academic achievements. 

Apply now 

Government Finance Officers Association (GFOA) Goldberg-Miller Public Finance Scholarship 

Amount: $20,000 
Deadline: Application opens fall 2022
Eligibility limitations: Full-time graduate student; plans to pursue a career in local or state government finance

About: Applicants submit recommendation letters and transcripts. They must show a connection between their studies and a future in government finance.

Apply now 

GFOA Government Finance Professional Development Scholarship 

Amount: $10,000
Deadline: Application opens fall 2022
Eligibility limitations: Part-time graduate student studying business administration, finance, accounting, economics, or public administration; focused on government; two years of work experience with the local or state government

About: GFOA awards four scholarships. Students must show transcripts and proof of work experience. They should submit recommendation letters from an employer and someone who can confirm their commitment to the public sector.

Apply now 

Mary Elizabeth Lockwood Beneventi MBA Scholarship 

Amount: $2,000
Deadline: January 31, 2023
Eligibility limitations: Full-time MBA student; 3.25 minimum GPA

About: Students complete an online application form through the National Society Daughters of the American Revolution. While not required, applicants can include GRE scores with their transcripts. The scholarship is a one-time award, but recipients can reapply each year.

Apply now 

Identity-based MBA scholarships

Many scholarships serve students with a particular identity. The following list includes identity-based scholarships that benefit specific groups. 

Association of Latino Professionals for America (ALPFA) scholarships

Amount: Varies
Deadline: May 2023
Eligibility limitations: ALPFA premium member; full-time undergraduate/graduate student; 3.0 minimum GPA; any major

About: ALPFA scholarships amount vary. Donors include Bank of America and Deloitte. Applicants must submit an online application and essays. Scholarships sponsored by individuals may require extra application materials.

Apply now 

The Consortium fellowship

Amount: Full tuition and fees
Deadline: October 15, 2022 (early application); January 5, 2023 (traditional application)
Eligibility limitations: U.S. citizens with a four-year bachelor’s degree; any race or ethnicity, but committed to increasing representation of Native Americans, African Americans, and Hispanic Americans in MBA degrees and management positions

About: The Consortium allows students to apply to six MBA programs at once. Upon acceptance, The Consortium considers applicants for membership and full tuition benefits. 

Apply now 

GFOA Minorities in Government Finance Scholarship 

Amount: $10,000
Deadline: Application opens fall 2022
Eligibility limitations: Minority student studying business administration, accounting, public administration, political science, finance, or economics; focused on nonprofit or government management

About: Applicants must submit transcripts showing excellent academic performance. They also need a recommendation letter that proves their commitment to public government.

Apply now 

Military MBA Merit Scholarship

Amount: $20,000
Deadline: June 30, 2022
Eligibility limitations: U.S. resident who has served in the military; has a bachelor’s degree; attending member school; pursuing graduate business degree 

About: Applicants fill out an online application and write three short essays. They submit transcripts and two recommendation letters from the military. 

Apply now 

National Black MBA Association (NBMBAA) Graduate Scholarship Program

Amount: Up to $5,000
Deadline: May 15, 2022
Eligibility limitations: Financially active NBMBAA member; full-time MBA student; 3.0 minimum GPA; participates in community service

About: The NBMBAA looks for candidates with leadership potential who serve their communities. Applicants must prove academic excellence. They submit an online application, resume, and essay.

Apply now 

PPG Foundation scholarship through the NBMBAA 

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