Millions of dollars’ worth of scholarships are being awarded to Online MBA students each year at top business schools all over the world.
Some Online MBA scholarships are based on merit, for instance if a candidate has outstanding leadership experience or a strong academic track record, such as a high standardized test score or grade point average. Additionally, some Online MBA programs award scholarships to high-achievers as they progress through the course, to incentivize success.
Other awards are based on financial need or are linked to a diversity characteristic, such as gender, race or nationality, with business schools seeking to diversity their student intakes to enrich the learning experience through group discussion.
The money tends to come from donations from corporations or alumni, who are often offered a healthy discount to return to the business school for an Online MBA, as schools seek to encourage lifelong learning.
Here are the Top 10 Online MBA programs for scholarships.
The UK’s Warwick Business School currently has the world’s number one ranked Online MBA by the Financial Times. It is also quite generous when it comes to financial aid. The business school offers a wide range of scholarships for Online MBA students, that cover up to 25 percent of the tuition fees. Some awards are for those who want to make a positive impact on society.View School Profile
Imperial College Business School is based in London, a hub of commerce and culture. Its parent university is renowned for technology and innovation. There is also a broad array of scholarships on offer for Online MBA candidates that can significantly reduce the cost of study, with the awards at Imperial ranging from £5,000 to £15,000 in value.View School Profile
USC Marshall School of Business in Los Angeles considers all Online MBA students for scholarships at the time of admission, so they do not need to apply for an award separately. Awards range in price from $5,000 to $20,000. They are based on merit, with factors influencing the decision of the awarding committee including whether a candidate has substantial leadership experience or a strong academic track record.View School Profile
Florida International University College of Business has Online MBA scholarships worth up to $15,000 up for grabs. Awards are based on performance, so after the first 10 courses in the Online MBA scholarships are dished out depending on the student’s GPA at the time. This incentivizes candidates to not only finish modules but to do so with flying colors.View School Profile
There are a whopping 30 or so scholarships available to Online MBA students at Spain’s IE Business School. The scholarships range from five percent to 35 percent of tuition and are awarded based on either merit, diversity or financial need. What is more, IE has a special fund to support scholarships for women with an endowment of €6m. The other scholarships are funded through donations made by various companies.View School Profile
AGSM at the UNSW Business School in Sydney awards more than $2m in scholarships every year to students across its degree programs. There are five different scholarships for Online MBA students to choose from that are linked to working in the non-profit sector, improving social outcomes, and those with specific ethnic backgrounds.View School Profile
Babson College in the US offers many scholarships to its Online MBA students, including diversity awards and those for students from specific world regions. These include an innovative $20,000 award that is for students referred by its 40,000-strong alumni network. Babson alumni who apply and are accepted automatically receive this new scholarship as well.View School Profile
The Cox School of Business, at Southern Methodist University in Dallas, Texas, offers loads of scholarships for Online MBA candidates. There are a limited number of merit scholarships with awards of up to $15,000 towards the first semester. All the Online MBA awards are based on individual achievement, for example performance in standardized tests or significant professional experience, or leadership potential.View School Profile
EADA Business School Barcelona, in Spain, offers scholarships to outstanding candidates who demonstrate superior academic performance in the Online MBA program. Thee scholarships are merit-based and cover up to 25 percent of the program fee, though one scholarship covers a heftier 50 percent of the tuition fees. Scholarship recipients have to complete a special academic or administrative project assigned by EADA.View School Profile
The Gies College of Business, University of Illinois at Urbana-Champaign, puts on an affordable Online MBA program, but there are scholarships to further reduce the cost of attendance. This includes a 50 percent discount for the full length of the course for alumni of the school who come back for more. There are also scholarships available to graduates of historically black colleges and universities, who have a competitive GMAT or GRE score, two years of work experience and a minimum GPA of 3.5.View School Profile