Many online MBA programs offer scholarships to support students in pursuing advanced business education. These scholarships can be merit-based, considering factors such as academic achievements, professional experience, leadership skills, and potential contributions to the program. Some online MBA programs may also provide need-based financial aid, taking into account the financial circumstances of the applicants.
Scholarship offerings vary among institutions, and eligibility criteria and application processes differ. It’s essential for prospective students to research and explore the specific scholarship opportunities available at the online MBA programs they are interested in. Additionally, reaching out to the admissions or financial aid offices of the respective business schools can provide valuable information about scholarship availability, criteria, and application procedures.
Recommended Online MBA Programs
With that said, here are 10 of the best AACSB-accredited online MBA programs that offer scholarships to qualified students.
Top 10 Online MBA Programs With Scholarships
| School | Program | Accreditation | Length | Cost | |
|---|---|---|---|---|---|
| 1. | Indiana University – Kelley School of Business | Kelley Direct Online MBA | AACSB | 2-3 years, 54 credit hours | $94,944 total |
| 2. | University of Florida – Warrington College of Business | UF MBA Online | AACSB | 2-year and 1-year options | 2yr=$58,000 total 1yr=$48,000 total |
| 3. | Arizona State University – W. P. Carey School of Business | W. P. Carey Online MBA | AACSB | 21-24 months, 57 credits | $66,266 total |
| 4. | UNC Chapel Hill – Kenan-Flagler School of Business | MBA@UNC | AACSB | 18-36 months | $125,589 total |
| 5. | Babson College, F. W. Olin Graduate School of Business | Part-Time Online MBA | AACSB | 18 months, 45 credits | $1990 per credit |
| 6. | Temple University, Fox School of Business | Fox Online MBA | AACSB | 2-6 years, 48 credits | $59,760 total |
| 7. | Auburn University, Raymond J. Harbert College of Business | Harbert Online MBA | AACSB | 2.5-6 years, 39 credit hours | $950 per credit, $37,050 total |
| 8. | Lehigh University, College of Business | Online Flex MBA | AACSB | 2-3 years, 36 credits | $1,340 per credit |
| 9. | University of Maryland – Robert H Smith College of Business | Maryland Online MBA | AACSB | 2 years, 54 credits | $1,733 per credit, $93,582 total |
| 10. | University of Illinois Urbana-Champaign – Gies College of Business | iMBA at Illinois | AACSB | 2-3 years, 72 credit hours | $332 per credit hour, $24,000 total |
1. Indiana University, Kelley School of Business
- Scholarship Information: Various scholarships are available.
- Program Web Page: Kelley Direct Online MBA
The Indiana University Kelley School of Business offers various scholarship and financial aid options for students enrolled in the Online MBA program. Merit-based scholarships are available to highly qualified candidates, considering factors such as academic achievements, professional experience, and leadership skills. Additionally, the program may provide need-based financial aid, including grants and loans, to eligible students based on their financial circumstances. Military benefits are also a consideration, with specific support and resources available for military personnel, veterans, and their families. Furthermore, the program acknowledges the potential for employer sponsorship, and students pursuing the Online MBA may receive financial assistance from their employers. For detailed and current information on these scholarship and financial aid options, prospective students are encouraged to visit the official Kelley School of Business website or contact the admissions and financial aid offices directly.
2. University of Florida, Warrington College of Business
- Scholarship Information: Scholarships and financial aid are available.
- Program Web Page: UF MBA Online
The University of Florida Warrington College of Business provides a range of scholarship and financial aid options for students enrolled in the UF Online MBA program. Merit-based scholarships are offered, taking into account factors such as academic achievements, professional accomplishments, and leadership qualities. The college also recognizes the financial needs of students and provides need-based financial aid, including grants and loans, to eligible candidates. Additionally, the program may offer various scholarship opportunities specific to the Online MBA program. Prospective students are encouraged to explore these options and check the official Warrington College of Business website for the most up-to-date and detailed information on scholarships and financial aid. The admissions and financial aid offices can also provide personalized assistance and guidance regarding the application processes and eligibility criteria for these financial support opportunities.
3. Arizona State University, W. P. Carey School of Business
- Scholarship Information: Various scholarships and financial aid options.
- Program Web Page: W. P. Carey Online MBA
Arizona State University’s W. P. Carey School of Business provides a range of scholarship and financial aid options for students pursuing the ASU Online MBA. The program offers various merit-based scholarships, taking into consideration academic achievements, professional experience, and leadership capabilities. Additionally, the school recognizes the financial needs of students and provides need-based financial aid, including grants and loans, to eligible candidates. ASU may also have specific scholarships or financial aid programs tailored to the Online MBA students. Prospective applicants are advised to visit the official W. P. Carey School of Business website for the latest and detailed information on available scholarships and financial aid. The admissions and financial aid offices are valuable resources for understanding the application processes, eligibility criteria, and any recent updates or changes to the financial support options.
4. University of North Carolina-Chapel Hill, Kenan-Flagler Business School
- Scholarship Information: Merit-based and need-based financial aid options.
- Program Web Page: MBA@UNC
The MBA@UNC program at the University of North Carolina Kenan-Flagler Business School offers various scholarship and financial aid options to support students in their pursuit of an online MBA. Merit-based scholarships are available, considering factors such as academic achievements, professional experience, and leadership qualities. The program is committed to recognizing and addressing the financial needs of its students, providing need-based financial aid, which may include grants and loans. Additionally, MBA@UNC may offer specific scholarships or financial aid programs designed for online MBA students. Prospective candidates are encouraged to explore the official Kenan-Flagler Business School website for the most current and detailed information on available scholarships and financial aid options. The admissions and financial aid offices are valuable points of contact for personalized assistance and guidance on the application processes and eligibility criteria for these financial support opportunities.
5. Babson College, F.W. Olin Graduate School of Business
- Scholarship Information: Various scholarship opportunities.
- Program Web Page: Part-Time Online MBA
Babson College’s F.W. Olin Graduate School of Business provides scholarship and financial aid options for students enrolled in the Blended Learning MBA program. The school offers merit-based scholarships, considering factors such as academic achievements, professional accomplishments, and leadership capabilities. Additionally, Babson College recognizes the financial needs of its students and provides need-based financial aid, including grants and loans, to eligible candidates pursuing the Blended Learning MBA. The program may also have specific scholarships or financial aid programs tailored for participants in the Blended Learning format. Prospective students are encouraged to visit the official F.W. Olin Graduate School of Business website for the most up-to-date and detailed information on available scholarships and financial aid. The admissions and financial aid offices can provide personalized assistance and guidance regarding the application processes and eligibility criteria for these financial support opportunities.
Recommended Online MBA Programs
6. Temple University, Fox School of Business
- Scholarship Information: Various scholarships available.
- Program Web Page: Fox Online MBA
The Fox School of Business at Temple University offers scholarship and financial aid options for students enrolled in the Fox Online MBA program. Merit-based scholarships are available, taking into account academic achievements, professional accomplishments, and leadership qualities. Additionally, the school recognizes the financial needs of students and provides need-based financial aid, which may include grants and loans, to eligible candidates pursuing the Online MBA. Temple University may also have specific scholarships or financial aid programs designed for participants in the Online MBA format. Prospective students are advised to explore the official Fox School of Business website for the most current and detailed information on available scholarships and financial aid options. The admissions and financial aid offices can offer personalized assistance and guidance on the application processes and eligibility criteria for these financial support opportunities.
7. Auburn University, Raymond J. Harbert College of Business
- Scholarship Information: Scholarships and financial aid are available.
- Program Web Page: Harbert Online MBA
Auburn University’s Raymond J. Harbert College of Business provides scholarship and financial aid options for students pursuing the Auburn Online MBA. The program offers merit-based scholarships, considering factors such as academic achievements, professional experience, and leadership skills. Recognizing the financial needs of its students, the college also provides need-based financial aid, including grants and loans, to eligible candidates. Auburn University may have specific scholarships or financial aid programs tailored to Online MBA students, contributing to the overall affordability of the program. Prospective students are encouraged to visit the official Harbert College of Business website for the latest and detailed information on available scholarships and financial aid options. The admissions and financial aid offices are valuable resources for understanding the application processes, eligibility criteria, and any recent updates or changes to the financial support options.
8. Lehigh University, College of Business
- Scholarship Information: Scholarships and financial aid options are available.
- Program Web Page: Online Flex MBA
Lehigh University’s College of Business offers scholarship and financial aid options for students enrolled in the Lehigh Flex MBA program. Merit-based scholarships are available, taking into account academic achievements, professional accomplishments, and leadership experiences. The program also recognizes the financial needs of its students, providing need-based financial aid, which may include grants and loans, to eligible candidates pursuing the Flex MBA. Lehigh University may have specific scholarships or financial aid programs tailored to participants in the Flex MBA format, contributing to the overall accessibility of the program. Prospective students are encouraged to explore the official College of Business website for the most current and detailed information on available scholarships and financial aid options. The admissions and financial aid offices can provide personalized assistance and guidance on the application processes and eligibility criteria for these financial support opportunities.
9. University of Maryland, Robert H. Smith School of Business
- Scholarship Information: Various scholarship opportunities.
- Program Web Page: Maryland Online MBA
The University of Maryland’s Robert H. Smith School of Business provides scholarship and financial aid options for students pursuing the Online MBA program. Merit-based scholarships are available, taking into consideration academic achievements, professional accomplishments, and leadership qualities. Recognizing the financial needs of students, the school also offers need-based financial aid, including grants and loans, to eligible candidates. The Online MBA program at Maryland Smith may have specific scholarships or financial aid initiatives designed for online students. Prospective applicants are encouraged to visit the official Robert H. Smith School of Business website for the latest and detailed information on available scholarships and financial aid options. The admissions and financial aid offices can offer personalized assistance and guidance on the application processes and eligibility criteria for these financial support opportunities.
10. University of Illinois, Gies College of Business
- Scholarship Information: Various scholarships and financial aid options.
- Program Web Page: iMBA at Illinois
The University of Illinois Gies College of Business provides scholarship and financial aid options for students pursuing the iMBA program. Merit-based scholarships are available, considering factors such as academic achievements, professional experience, and leadership capabilities. Additionally, the college recognizes the financial needs of its students and provides need-based financial aid, including grants and loans, to eligible candidates enrolled in the iMBA. Gies College of Business may also offer specific scholarships or financial aid programs tailored to the iMBA format, contributing to the overall accessibility of the program. Prospective students are encouraged to explore the official Gies College of Business website for the most current and detailed information on available scholarships and financial aid options. The admissions and financial aid offices can provide personalized assistance and guidance on the application processes and eligibility criteria for these financial support opportunities.
What types of financial aid are available for online MBA programs?
Financial aid for online MBA programs can come in various forms, helping students manage the costs associated with pursuing advanced business education. Common types of financial aid include:
- Federal Student Aid (FAFSA): Completing the Free Application for Federal Student Aid (FAFSA) can make you eligible for federal aid programs, such as Direct Unsubsidized Loans and Direct PLUS Loans.
- Scholarships: Many online MBA programs offer merit-based scholarships, which consider factors such as academic achievements, professional experience, and leadership skills. Some scholarships may also be need-based.
- Employer Sponsorship: Some employers provide financial support for their employees pursuing an MBA. This may include tuition reimbursement or direct sponsorship.
- Private Loans: Private loans from banks or other financial institutions can be an option for covering educational expenses. However, it’s important to carefully consider the terms and interest rates associated with private loans.
- Institutional Aid: Some universities and business schools offer institutional aid or grants to support students in their online MBA programs.
- Military Benefits: Military personnel, veterans, and their families may be eligible for specific financial assistance programs, including tuition assistance, GI Bill benefits, and other military-related aid.
- State-Based Aid: Depending on your state of residence, you may be eligible for state-based financial aid programs. Check with your state’s higher education agency for more information.
- Payment Plans: Some online MBA programs offer flexible payment plans that allow students to pay their tuition in installments, easing the financial burden.
Before applying to an online MBA program, it’s crucial to research and understand the financial aid options available. Contact the admissions and financial aid offices of the specific program you’re interested in for the most accurate and up-to-date information on financial assistance opportunities.
How are scholarships different from other types of online MBA financial aid?
Scholarships are a specific type of financial aid designed to support students in pursuing their education, including online MBA programs. While there are various forms of financial aid, scholarships are distinct in several ways:
- Merit-Based: Scholarships are often awarded based on merit, considering factors such as academic achievements, professional accomplishments, leadership skills, and sometimes specific talents or qualities. Merit-based scholarships aim to recognize and reward the individual’s past achievements and potential.
- Not Repayable: Unlike loans, scholarships are typically considered “gift aid,” meaning they do not need to be repaid. This makes scholarships an attractive form of financial support as they help reduce the overall cost of education without creating a future financial burden.
- Diversity of Criteria: Scholarships can have diverse criteria for eligibility. Some may focus on academic excellence, while others might prioritize factors like community involvement, industry experience, or underrepresented backgrounds. This variety allows different types of students to qualify for scholarships.
- Program-Specific: Many scholarships are specific to particular academic programs, such as online MBA programs. Business schools and universities often offer scholarships to attract talented individuals to their MBA programs, creating a competitive environment for scholarship opportunities.
Other types of financial aid for online MBA programs may include federal student aid (such as loans and grants), employer sponsorship, private loans, military benefits, and institutional aid. These forms of financial assistance may have different eligibility criteria, terms, and repayment structures.
It’s essential for prospective students to carefully review the details of each financial aid option, understanding whether the support is merit-based or need-based, if it requires repayment, and how it aligns with their personal circumstances and career goals.
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