Earning a Master of Business Administration (MBA) degree can be a significant investment in time and money. However, there are ways to study in USA for MBA for free or with minimal cost. In this article, we will explore some of the ways to study MBA in the USA for free or at a low cost, including scholarships, fellowships, and employer sponsorship.
Scholarships
Scholarships are a great way to fund your MBA degree in the USA without incurring significant debt. There are several organizations and institutions that offer MBA scholarships for international students, including:
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Fulbright Foreign Student Program
This program offers full scholarships to international students to study in the USA for a master’s degree, including MBA. The scholarship covers tuition, fees, and living expenses for the duration of the program.
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Rotary Foundation Global Grants
This program provides scholarships for graduate-level studies, including MBA, in one of Rotary International’s six areas of focus. The scholarship covers tuition, fees, and living expenses for one to four years of study.
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Forté Foundation
This organization offers scholarships to women pursuing an MBA at select partner schools in the USA. The scholarship amount varies depending on the school and the program.
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The Consortium
This organization provides merit-based scholarships to African American, Hispanic American, and Native American students pursuing an MBA degree. The scholarship covers full tuition and fees for the two-year program.
Fellowships
Fellowships are another option for funding your MBA degree in the USA. Fellowships are typically offered by business schools and provide financial support to students in the form of a stipend, tuition waiver, or both. Some popular fellowships for MBA students include:
- Harvard Business School Fellowship: This fellowship provides a full tuition waiver and a stipend to cover living expenses for two years of study.
- Stanford Graduate School of Business Fellowship: This fellowship provides a tuition waiver and a living stipend for up to two years of study.
- Berkeley Haas School of Business Fellowship: This fellowship provides a full tuition waiver and a stipend for living expenses for the two-year MBA program.
- Wharton School of Business Fellowship: This fellowship provides a partial or full tuition waiver and a stipend for living expenses for the two-year MBA program.
Employer Sponsorship
If you are already working in the business field, you may be able to secure employer sponsorship for your MBA degree. Many companies offer tuition reimbursement programs for employees who pursue higher education. To take advantage of employer sponsorship, you may need to commit to working for the company for a certain period of time after graduation. It is important to research your company’s policy on tuition reimbursement and speak with your manager or HR representative about the possibility of sponsorship.
Studying for an MBA degree in the USA can be a significant investment, but there are several ways to fund your education without incurring significant debt. Scholarships, fellowships, and employer sponsorship are all viable options for funding your MBA degree. It is important to research your options early and submit applications well in advance of the deadline. With a bit of planning and effort, you can pursue your MBA degree in the USA without breaking the bank.
