How to Pay for an MBA – Full Tuition Fellowships

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Full-Tuition Fellowships from Top B-Schools

Here’s a look at some of the basics about full-tuition scholarships at some of the leading MBA programs

By Alison Damast

One of the management education world’s greatest secrets is the wide variety of full-tuition fellowship programs at business schools. There are more than you might think—University of Virgina’s Darden School of Business, for example, offers 61 full-tuition fellowships—and it is well worth taking the time to look into them during the application process. It could save you a cool $150,000, the average price for a two-year education at a top business school. We’ve rounded up some of the top schools’ full-tuition fellowship programs, along with how to apply for them.

School: California Berkeley (Haas)
Name of full-tuition scholarship/fellowship: Haas Merit Scholarship; Haas Achievement Award; Maxwell Fellowship; White Fellowship
Number of full-tuition scholarships awarded to 2008 entering class: 14
How to apply: Automatic for Haas Merit Scholarships and White Fellowships; Haas Achievement Award requires optional essay as part of the application; the Maxwell Fellowship has a separate application.
Special requirements: Students must remain in good academic standing.

School: Carnegie Mellon (Tepper)
Name of full-tuition scholarship/fellowship: Dean’s Scholarship; Consortium Fellowship
Number of full-tuition scholarships awarded to 2008 entering class: Not available
How to apply: Dean’s Scholarship automatic consideration; Consortium application

School: U. of Chicago
Name of full-tuition scholarship/fellowship: The Dennis W. and Jane B. Carlton Fellowship; The Distinguished Fellows Program; The Wallman Fellowship; The David W. Fox Fellowship
Number of full-tuition scholarships awarded to 2008 entering class: 11
How to apply: Most admitted applicants are automatically considered at the time of the appliation, but many have additional interviews that are required as part of the final selection process.
Special requirements: All of the fellowships have a mentoring component, whether corporate or alumni. The Distiniguished Fellows are mentored by a professor.

School: Columbia
Name of full-tuition scholarship/fellowship: Feldberg Fellowship; Kopf Fellowship; Project Charity Trust; Alexander Bodini Real Estate Fellowship; Margaret B. Greenawalt Scholarship Fund; Mario Gabelli Fellowship; Goldman Sachs Foundation; Heilbrunn Fellowship; Various Corporate Fellowships
Number of full-tuitiion scholarships awarded to 2008 entering class: About 25
How to apply: Automatically considered

School: Cornell (Johnson)
Name of full-tuition scholarship/fellowship: Park Leadership Fellows
Number of full-tuition scholarships awarded to 2008 entering class: Up to 25
How to apply: Separate application
Special requirements: Participate in leadership curriculum, attend Park Speaker events, and complete a service project.

School: Duke (Fuqua)
Name of full-tuition scholarship/fellowship: Keller Scholarship
Number of full-tuition scholarships awarded to 2008 entering class: About 25
How to apply: All admitted applicants considered

School: Harvard
Name of full-tuition scholarship/fellowship: HBS Fellowship Program
Number of full-tuition scholarships awarded to 2008 entering class: 25
How to apply: Complete and submit financial aid application upon admission to Harvard Business School.
Special requirements: Scholarships are awarded based on financial need.

School: Massachusetts Institute of Technology (Sloan)
Name of full-tuition scholarship/fellowship: Dean’s Fellowships
Number of full-tuition scholarships awarded: 10-12
How to apply: Automatically considered by the Admissions Committee
Special requirements: Maintain minimum GPA requirement during the four semesters.

School: University of Michigan (Ross)
Name of full-tuition scholarship/fellowship: Ross Fellowships; Consortium Fellowships
Number of full-tuition scholarships awarded: Approx. 45
How to apply: All applicants automatically considered for the Ross Fellowship; all applicants who (apply) through the Consortium for Graduate Study in Management (CGSM) are automatically considered for the Consortium Fellowship.
Special requirements: None

School: New York University (Stern)
Name of full-tuition scholarship/fellowship: Consortium Fellowships and Dean’s Scholarships
Number of full-tuition scholarships awarded to 2008 entering class: 42
How to apply: Automatically considered

School: Pennsylvania (Wharton)
Name of full-tuition scholarship/fellowship: Howard E. Mitchell Fellowship
Number of full-tuition scholarships awarded to 2008 entering class: 10
How to apply: Selection for the fellowships are made by a fellowship committee based on personal background, academic and extracurricular achievements, leadership, community involvement, strong interpersonal skills, integrity, and their response to the essay question. Admitted student who fits the criteria for the fellowship must complete a separate financial aid application.
Special requirements: The Office of External Affairs requires a one-page résumé and a one-page biography. This information is shared with the companies that financially support the Howard E. Mitchell Fellowship program. Also, the 10 recipients will be a part of a large network and leadership program with other Mitchell Fellows and alumni.

School: Stanford
Name of full-tuition scholarship/fellowship: Charles P. Bonini Partnership for Diversity Fellowship; Mohammed bin Rashid Fellows Program; Reliance Dhirubhai Fellowship, all outside merit-based fellowships. The school also offers fellowships through their financial aid office based solely on financial need.
Number of full-tuition scholarships awarded to 2008 entering class: Not available
How to apply: All have a separate application process and requirements.
Special requirements: The Bonini fellowship requires an internship.

School: U. of North Carolina (Kenan-Flagler)
Name of full-tuition scholarship/fellowship: Carolyn and Harold Anderson MBA Premier Fellowship; Bank of America MBA Fellowship; The Thomas M. Belk MBA Fellowship; Thomas W. Hudson, Jr. MBA Fellowship; Richard H. Jenrette Fellowship; Jay Edward Klompmaker MBA Fellowship; Peter G.C. Mallinson MBA Fellowship; The Michaux Family MBA Premier Fellowship for Real Estate Students; Tiger Fellowship; Consortium Fellowship; Forte Fellowship; Kenan-Flagler Business School Fellowship
Number of full-tuition scholarships awarded to 2008 entering class: 20
How to apply: Automatically considered, except Consortium Fellowships which require a separate application to the Consortium for Graduate Study in Management
Special requirements: Maintain academic eligibility

School: UCLA (Anderson)
Name of full-tuition scholarship/fellowship: Dean’s Fellowships
Number of full-tuition scholarships awarded to 2008 entering class: Not available
How to apply: Either at time of decision or separate application
Special requirements: Maintain academic eligibility

School: Virgina (Darden)
Name of full-tuition scholarship/fellowship: Darden Jefferson Fellowship; Batten Entrepreneurial Scholarship; Batten Innovation Scholarship; Batten Media Scholarship; Batten Technology Scholarship; Class of 1957 Charles Abbott Scholarship; Darden Foundation Trustee Scholarship; Darden School Foundation Consortium Fellowship; Darden School Foundation Scholarship; IRC International Scholarship; Robert E. Lamb II Scholarship; Robert E. Lamb II Dean’s Scholarship; Landmark Communications Scholarship; Pendleton Scholarship
Number of full-tuition scholarships awarded to 2008 entering class: 61
How to apply: All admitted applicants considered, excepted for the Batten Media Scholarship, which requires a separate application. Students who are considered for the Jefferson Fellowship must come to the school for an interview.
Special requirements: The only fellowship with a requirement is the Jefferson Fellowship, which requires students to do a research paper.

School: Yale
Name of full-tuition scholarship/fellowship: The Laura Cha (Shi Mei Lun) Scholarship; Gordon and Betty Moore Fellowship; Consortium Fellowship
Number of full-tuition scholarships awarded to 2008 entering class: 11
How to apply: All applicants considered for merit scholarships; Consortium application
Special requirements: Gordon and Betty Moore Fellowship: After graduation, grantees agree to work for at least three years in environmental or conservation organizations in the Andes-Amazon region.

Damast is a reporter for BusinessWeek.com.  Read the original post, including links to school details, here.

Author: Grayson Leverenz

Grayson Leverenz founded MBA in the USA® to help international students build networks, find jobs, and have fun in the USA. Hundreds of global professionals have benefited from Grayson’s intercultural workshops, and she has worked with people from Brazil, China, India, South Africa, South Korea, the UK, and the USA to build effective virtual teams and craft brilliant careers.

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12 Comments

  1. This is really informative.. Thanks!
    Are international applicants eligible for all the above fellowships?

  2. More than one in nine students at the L.I. Lokey Graduate School of Business is the beneficiary of a full-tuition scholarship, and every student receives a large grant. The students receiving the largest scholarships are women, because advancing women is central to our mission and our scholarship sponsors. We welcome students from all over the world to our San Francisco Bay Area location.

  3. I am trying to apply for a scholarship so was wondering if you have any idea on whether amount I receive in scholarships affect my eligibility for financial aid?

  4. Thanks for the comments and questions!

    @Suruchi – Most MBA programs consider all applicants for fellowships. Policies may vary; so check with the school before you apply.

    @Siobhan – Thanks for the contribution about the L.I. Lokey school. I hope MBA in the USA helps generate additional interest in your program!

    @ Alexis – Receiving a scholarship should not affect your qualification for need-based financial aid. The joy of winning scholarships is that you lower the amount you have to borrow, reducing the amount you have to pay back after graduation.

  5. I was looking for a MBA fellowship for my friend. She is from India and has received admits to Marshal and UC Davis MBA programs.
    1. Are there fellowships for these two schools?
    2. The fellowships that you have mentioned above, are they specific to the schools listed above or are they generic in nature?
    Thanks,
    Angada

  6. Hi Angada, I apologize for the delay in responding. Congratulations for your friend’s admits! The fellowships in this article are specific to the schools mentioned. Most MBA programs in the USA do offer fellowships for highly qualified students. Your friend could set up a call with the Financial Aid officer at each program to learn more if she can’t find the information on the school’s website. Best of luck to her!

  7. Thank you.

  8. Hi,
    This is useful link But i guess now it 2010 is it still applicable? Also are there any scholarships mentioned above which are restricted to only US CITIZENS?

  9. Hi Deepali, To the best of my knowledge, these fellowships are still current and open to all applicants, but it’s always good to check with the Financial Aid office of your target schools. Some scholarships are limited geographically, and sometimes it’s in the favor of international students. Best of luck with your MBA search!

  10. Hi,
    I am from India. I was completed my BBM and MBA. Could you give me information that which B-Schools providing fellowships for MBA students.

    Thanks,
    Suresh Kumar

  11. Hi, Suresh: Enter the terms “How to Pay” in the search box above, and all of my resources on funding your MBA will appear.

    Best of luck in your MBA pursuits!
    Grayson

  12. Hi,

    I’m from India, and I’m looking out for an MBA program in Finance that would provide full tuition fellowship. My GMAT score is 750, GPA around 3.4 and I have about 4 years work experience. I also am a CPA and CFA.

    Could you please help me with a few names where I could stand a very good chance of receiving full tuition fellowship?

    Thanks!
    Anthony

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