In the United States, only 4% of senior executives are black, and only 6% are Mexican. Women, Native Americans, LGBTQ+ persons, and people of color continue to be disadvantaged in the workplace and in academic institutions. However, to increase MBA diversification, US business schools are providing a number of MBA grants for minority communities wonderful method to help you afford your education at a top business college, irrespective of your background.
Here are 25 diversity-based grants for MBA applicants from under-represented communities that will assist you in funding your MBA education at a US school of business, offered on a nationwide and school-by-school basis.
1. Whitney M. Young Jr. Fellowship
The Whitney M. Young, Jr. Fellowship is given out by Boston University every year to honor Whitney M. Young, Jr.’s excellent accomplishments in the areas of social work, development planning, and Afro-American research. College graduates who are US citizens and are studying for masters, doctorate, or advanced degrees in any field or school are eligible for the scholarship. This prize will be given to someone who has demonstrated academic achievement and prospective promise in an area relevant to racial relations or urban issues. Full-time education, a $23,340 stipend for living costs, Student Services and Health & Wellness fees, and the Boston University Student Basic Medical Insurance Plan are all included in the one-year scholarship. The African American MBA Association (AAMBAA) at Wharton University administers the Whitney M. Young Jr. Fellowship. Whitney M. Young Jr., a US civil rights activist who headed the National Urban League, the nation’s biggest civil rights organization at the time, from 1961 to 1971, is honored by the foundation. Each year, the fellowship awards a $25,000 prize to one student.
Provided By: Boston University
Amount: 25,000 USD
Eligibility: College graduates
2. National Black MBA Association Fellowships
The National Black MBA Association (NBMBAA) has a number of scholarships offered, each with a different amount of support. NBMBAA students at Ohio State University’s Fisher College of Business earn $50,000 in support, while Arizona State University’s award is worth $25,000. Other top universities, such as Georgetown University’s McDonough School of Business, provide need-based scholarships that can pay the full tuition charge. “Fisher College of Business promotes and encourages varied classroom environments while fostering distinct viewpoints and variety in all forms,” says Paul North, chief executive of graduate programs at Fisher. “The MBA program at Fisher is dedicated to providing scholarships to students from a variety of social and cultural backgrounds.”
Provided By: National Black MBA Association
Eligibility: College students
3. Darryl T. Banks HBCU Scholarship
On the proposal of the college’s Ethnic Equity Taskforce, a collective of 18 faculty, alumni, and undergraduates, Duke Fuqua School of Business introduced the Darryl T. Banks HBCU Scholarship in 2020. Individuals who transfer to Duke from a predominantly black institution or university will be supported by the performance base grant (HBCU). Darryl T. Banks, a previous alumnus and teacher at Fuqua who came to the university from an HBCU in 1986, is honored in the title. “By providing academic scholarships to attract talented individuals from all backgrounds and perspectives, we are reducing barriers, building our neighborhoods, and creating the visionaries the world needs,” says Sharon Thompson, associate dean of admissions and coordinator of diversity programs at Duke.
Provided By: Duke Fuqua
Deadline: Yet to be Updated
4. Consortium Fellowships
Professor Sterling Schoen of Washington University founded The Association for Graduate Work in Managers to assist African American students in getting the abilities they need to work in American businesses. Ever since the Consortium has awarded more than $465 million in scholarships to MBA students in the United States. Full-tuition scholarships are provided to students who can prove a dedication to The Consortium’s purpose of reducing the significant lack of representation of African Americans, Hispanic Americans, and Native Americans in university enrollees and managerial ranks. Tuck School of Business, Kelley School of Business, McCombs School of Business, Simon Business School, Jones School of Business, and others are part of the Consortium.
Provided By: The Consortium
Deadline: Applications will open soon
5. PepsiCo Cesar Chavez Latino Scholarship
Students of Latino heritage who are starting or completing their courses at a higher education institution are eligible for the PepsiCo Cesar Chavez Latino Scholarship. In order to enhance academic achievement, the program gives financial aid to qualifying Latino/a learners. The Cesar Chavez Latino Scholarship Winners will be honored at the Cesar Chavez Foundation’s yearly Si Se Puede Gala. Within 12 months of receiving the award, honorees must complete 30 hours of community care at the Cesar Chavez Institute.
Provided By: PepsiCo
Amount: 5000 USD
6. Prospanica Scholarship
Students of Hispanic or Latino heritage can qualify for a variety of scholarships through the Prospanica Scholarship Fund, which offers up to $5,000 in cash. Candidates must have a 3.0 GPA or 2.75 if they additionally have relevant job experience. The award is open to students at a number of significant US business schools, notably Duke University’s Fuqua School of Business, Indiana University’s Kelley Business School, and Ohio State University’s Fisher College of Business. Prospanica is here to assist you in achieving your goals. Scholarships from the Prospanica Foundation are for undergraduate and graduate students who aspire to reach their maximum educational potential and contribute meaningfully to society.
Provided By: Prospanica
Eligibility: Students of Hispanic or Latino
Deadline: Yet to be Updated
7. LunaCap Foundation
The LunaCap Foundation MBA scholarship for Mexican and Veteran MBA applicants was formed by Paul Capon, who was born Moises Luna in Guadalajara, Mexico. He was recruited by a Family structure at the age of three months and went on to complete his education, join the US Air Force, and earn his MBA. He aims to remove the cost of an MBA from the calculation for meritorious candidates, allowing them to seek a profession after graduating from a top MBA institution. Since 2020, $200k has gone straight to financing studies and experiences, and students from elite schools such as Harvard, Haas, and Wharton have been allowed to apply for these $10,000 grants.
Provided By: LunaCap Foundation
Amount: 10,000 USD
Eligibility: Mexican and Veteran MBA applicants
8. American Indian Graduate Centre
Full-time university graduates who provide a Tribal Qualification Certificate are qualified for one of the American Indian Graduate Centre’s 30 grants and scholarships for ethnic minority students. The foundation has partnered with Tribes, educational institutions, businesses, and people to provide money to talented native Americans over the past 50 years. The Wells Fargo American Indian Fellowship is particularly appealing to MBAs since it supports students who are seeking a career in finance, hotel administration, casino management, management, and administration, covering accountancy, economics, information technology, and human resource management. You must be an enrolled participant of a federally recognized American Indian Tribe or Alaska Native group OR present proof of connection to a nationally recognized Tribe or Alaska Native group with one-fourth grade Indian blood. You must also be engaged full-time in a post-graduate degree program at a recognized school or university. For each position, you must meet the precise qualifying conditions listed above.
Provided By: American Indian Graduate Centre
Deadline: June 1
9. Point Foundation Scholarship
Point Foundation is the biggest LGBTQ-focused fund provider in the United States, providing cash, mentoring, and leadership training to LGBTQ students. Point scholars also pledge to give back to society and are provided with community service courses to assist them. Scholars must demonstrate outstanding academic success, and the fellowship is awarded based on financial necessity.
Provided By: Point Foundation
Eligibility: LGBTQ students
Deadline: January 24
10. Forte Fellowships
The Forté Fellowships are renowned, competitive honors that are well-known both within and outside of the business school world. Forté Fellows show excellent leadership, come from a variety of backgrounds, and are dedicated to advancing women in business, all of which are in line with Forté’s objective. More than 13,000 Forté Fellows have received $334 million from our partner institutions to date. To be considered for a fellowship, you must first apply for an MBA at one of the participating schools. Full-time students are eligible for rewards from all schools. At some schools, part-time and executive honors are available. Those from the management campus community who ‘show excellent leadership, reflect various origins, and dedicate more time to furthering women in business are eligible for these extremely competitive scholarships. Forte is affiliated with dozens of elite colleges, like Harvard Business School, Duke Fuqua, and Carlson School of Business, and individuals are picked for Forte support by the schools directly. Besides this assistance, Forte Fellows benefit from professional counseling and assistance, as well as access to a large community and leadership and growth opportunities.
Provided By: Forte
Amount: 20,000 USD