Ways To Find and Win Online MBA Scholarships

Types of Online MBA Scholarships Available

When it comes to finding and winning online MBA scholarships, the opportunities are endless.

1. There are scholarships based on your background and experiences

As a woman or minority, you may be eligible for diversity scholarships. As a veteran or member of the military, look for scholarships for service members. If you’re an entrepreneur or plan to start a business, there are MBA scholarships for future business owners.

2. Many online MBA programs offer merit-based scholarships based on your GPA, test scores, and work experience.

The higher your stats, the more money you can earn. Some schools also offer essay scholarships where you can win funding by submitting a short essay on a given topic.

3. Need-based scholarships provide funding based on your financial need.

To apply, you’ll need to fill out a FAFSA form to determine your expected financial contribution. If it’s low, you have a good chance of qualifying for a need-based MBA scholarship.

4. Private organizations, nonprofits, and companies also provide online MBA scholarships.

Check with organizations in your industry or local community to find options. For example, the Forté Foundation provides scholarships for women pursuing an MBA.

With many scholarship types available, applying to a variety is key. Estimate your chances of winning each scholarship and apply to a mix of “reach” and “safety” options.

Tips for Finding Legitimate Online MBA Scholarships

Here are some tips to help you uncover opportunities and win funding for your degree:

1. Do your research

Scour the websites of any online MBA programs you’re interested in to find scholarships they offer. Many will provide aid for high-achieving or underrepresented students. Also check databases like FastWeb, Cappex, and Peterson’s for national and local scholarships.

2. Look for niche scholarships

Some are tailored to certain demographics like women, minorities, veterans or people with disabilities. Others may be for specific areas of study or career paths. With less competition, your odds of winning increase.

3. Build a compelling application

Focus on your relevant experience, career goals, and how the MBA will help you achieve them. Get feedback from professors or colleagues. Submit a thoughtful personal essay, recommendations, transcripts, and any required test scores.

4. Apply widely

The more you apply to, the better your chances are of securing funding. But only apply to legitimate scholarships where you meet the eligibility criteria. Avoid scammy “scholarships” that require a fee.

5. Maintain a strong GPA.

Most MBA scholarships require at least a 3.0 cumulative GPA. Some are higher, around 3.5. Work hard in your classes to keep your grades up and open yourself up to more opportunities.

6. Leverage social media

Follow organizations and programs offering the scholarships on platforms like LinkedIn, Facebook, and Twitter. Engage with them by liking and commenting on their posts. When scholarship deadlines approach, check for any final reminders and share the news with your own networks. Building these connections can strengthen your application.

How to Put Together a Winning Online MBA Scholarship Application

Follow these tips to strengthen your application:

1. Research the Scholarship Requirements

Do your homework and learn as much as you can about the specific scholarship you’re applying for. Make sure you understand the eligibility criteria, deadlines, necessary materials, and any preferences the selection committee may have regarding academic performance, work experience, community service, etc. Tailor your application to align as closely as possible with what they’re looking for in a candidate.

2. Highlight Your Relevant Experience

Emphasize any work experience, skills, or accomplishments that are relevant for an MBA program. For example, discuss roles where you gained valuable leadership, communication, or analytical experience. Provide specific examples and quantify your key results and impact. Also discuss any extracurricular activities that demonstrate strong soft skills or a commitment to continuous learning.

3. Submit a Standout Personal Statement

Your personal statement is key to winning over the selection committee. Explain your motivation for pursuing an online MBA, your long term goals, and how the specific program and area of study will help you achieve them. Share a meaningful story that gives insight into your character and values. Discuss the unique perspectives you will bring to the program to demonstrate what sets you apart from other applicants. Keep your writing clear, concise, and enthusiastic.

4. Ask for Strong Recommendations

Request recommendations from people who can speak knowledgeably about your abilities and potential for success in an MBA program. Meet with them to discuss why you’re applying to this scholarship and program. Provide them with details about the opportunity and a copy of your resume or CV so they can reference specific examples in their recommendation letter. Follow up to ensure the recommendations are submitted by the deadline.

Conclusion

With preparation and planning, you can put together an online MBA scholarship application that helps the selection committee see why you deserve to win. Do your research, highlight your relevant experience, craft a compelling personal statement, and secure enthusiastic recommendations from people who know your abilities well.