MBA scholarships, grants or bursaries are some of the options that may be available to help you finance your MBA. These are available from numerous sources and the eligibility criteria vary depending upon the source.
Many business schools offer MBA scholarships based on either merit, such as demonstrated high level of academic ability or high GMAT scores, or need, which may require you to demonstrate evidence of financial hardship.
For information on any financial aid provided by the business schools you are applying to, look carefully through any literature that you have received from them, check for any details posted on their web site and if you still can't find any information, contact them direct. If you are not eligible for any available scholarships, they may still be able to offer you loans at preferential rates.
Another, highly recommended, way to find relevant study venues in MBA studies, is to check into the actual schools. Generally there is professional staff on call whose job it is to focus on tracking the best scholarship options available. We recommend applying to at least two business schools to obtain the necessary information concerning scholarships,
grants, and loans, all free of charge through mail and telephone.
College Scholarship Grants
When financial need can be proven, students can often apply for College scholarship grants. These are financial awards given to students who are selected according to the criteria formulated by the awarding institution. Scholarships awarded are given to the student and can be used to pay for tuition and other miscellaneous expenses related to the student’s education. This money is given and never has to be repaid.
Students will find that college scholarship grants are subsidized by educational institutions, nonprofit foundation, private individuals and corporations and are given to students who claim a financial need. There are various criteria for some of these scholarships - some are reserved for those with exceptional academic or athletic achievements, some are for those who have shown keen interest in public service, there are also grants for students with a certain nationality or ethnicity. And there are grants especially for women.
Local and foreign college scholarship grants
There are a number of organizations that award grants to both US citizens as well as to exchange students from other countries. Among them are the Rhodes scholarship, the Fulbright Commission, and the Miss America Foundation. The London School of Business grant, for instance, is especially earmarked for American students that wish to study abroad.
Searching for college scholarship grants
Searching for college scholarship grants can be arduous work – be prepared to put in hours of legwork visiting the offices of the granting institutions, filling out and submitting applications. Make use of the Internet to search for grants. More and more free websites are offering ‘matching’ services, where you simply input your personal background and student data, and they generate a list of scholarships you may be qualified for.
The key is to apply early. So many students are looking for college scholarship grants; the competition is fierce. You must do your research well ahead of the game and get your application in as early as possible to avoid the rush. Also, do not hesitate to make follow-up phone calls. Your persistence may impress the grantor, and give you the edge needed to win the scholarship.
Common Types of College Scholarship Grants
Just as there are innumerable college students who need some help in order to continue their studies, there are many, many college scholarship grants available to those who qualify under the stipulations and/or have a special talent in a certain field.
The 3 most common types of college scholarship grants awarded to college students and soon-to-be college students are: the athletic scholarship grant, the academic scholarship grant, and the departmental awards. For each type, a specific criteria must be met in order to be considered or the award.
• Academic Scholarship Grant
This type of scholarship grant is awarded to students who either achieve a qualified GPA or achieve an exceptional academic performance before entering college. This grant is usually awarded to honor-students. Sometimes awarded automatically upon entering college or university, most schools require application for academic scholarship grants.
The primary focus of schools awarding academic scholarship is of course the academic aspect; however, some colleges and universities base the grant on either merit or need, or both.
Upon passing an academic scholarship grant, the student is required to maintain a ceiling grade. If the student does not accomplish said grade by the end of the term, colleges and universities usually put the student on probationary status until the grades reached the prescribed level. Termination of the grant may occur if grades are not up to par.
• Athletic College Scholarship Grant
If you are on the competitive edge, you may obtain an athletic scholarship grant. However, because of the extreme competition for type of scholarship, there is a high demand by the many students who apply.
An athlete may dream of going through college on an athletic scholarship. Some even dream to finish college as an athlete. This is actually a dream that is not impossible to achieve. With good personal marketing and exceptional skills in any sport, there is a distinct possibility that you will be able to apply and be granted this type of scholarship.
• Departmental Awards
This type of college scholarship grant aims to provide the student with the option of committing to his or her studies in a particular department. Usually, it is offered to exceptional students who desire to study in other fields. The departmental awards are given so as not to oblige the students to stay in a particular department, while possibly attracting other interested students to join.
Direct enquiries may be made to the department of the school about these kinds of scholarship grants.There are other college scholarship grants that are given to students but basically, these three are the ones awarded by the schools themselves.