Pursuing a Master of Business Administration (MBA) in the United States is a transformative experience for many international students. The U.S. is home to some of the world's most prestigious business schools, known for their global reputation, innovative curricula, and strong alumni networks. However, the high cost of tuition, living expenses, and additional program fees can be a significant barrier for many aspiring students from abroad. To ease this financial burden, a wide range of MBA scholarships are available in the U.S. for international students—offered by universities, private organizations, and government bodies.
This article explores some of the most notable MBA scholarships for international students in the USA, their eligibility requirements, application tips, and how these scholarships can pave the way to career success.
Why the USA for an MBA?
The United States offers unmatched diversity in its business education landscape. From Ivy League institutions like Harvard and Wharton to tech-focused programs like Stanford and MIT Sloan, MBA students benefit from:
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Access to global job markets and top recruiters
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World-class faculty and innovative business research
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Practical learning through case studies, internships, and consulting projects
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A multicultural environment with global networking opportunities
For international students, an MBA in the U.S. can be a stepping stone to leadership roles in multinational corporations, entrepreneurship, or even residency and employment in the country.
Cost of an MBA in the USA
Tuition fees for top U.S. MBA programs range from $60,000 to $90,000 per year, excluding living expenses, travel, and insurance. This brings the total cost of a two-year MBA to over $150,000 in many cases. Fortunately, numerous scholarships—both merit-based and need-based—are available to international students that can fully or partially fund their studies.
Top MBA Scholarships for International Students in the USA
1. Fulbright Foreign Student Program
Funded by the U.S. Department of State, the Fulbright Program is one of the most prestigious government-sponsored scholarships globally.
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Eligibility: Varies by country; generally open to highly qualified graduate applicants.
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Benefits:
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Full tuition coverage
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Monthly stipend
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Travel and health insurance
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Application: Apply through the Fulbright Commission or U.S. Embassy in your country.
Though highly competitive, Fulbright supports MBA aspirants who demonstrate leadership and a commitment to public service or economic development.
2. Harvard Business School – Need-Based Fellowships
Harvard Business School (HBS) offers substantial financial support through its need-based fellowships.
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Eligibility: Admitted international MBA students with demonstrated financial need.
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Benefits: Average fellowship amount is $40,000 per year (up to $80,000 total).
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Application: After admission, students submit a separate financial aid application.
HBS does not offer merit-based awards, but the financial aid package is designed to make education accessible to talented students regardless of their financial background.
3. Stanford GSB – Knight-Hennessy Scholars Program
Stanford’s Knight-Hennessy Scholars program funds high-achieving students from all over the world who demonstrate leadership, independence of thought, and civic commitment.
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Eligibility: Open to all international students pursuing a Stanford graduate degree, including the MBA.
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Benefits:
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Full tuition and fees
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Living stipend
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Travel grant
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Application: Requires both MBA program application and Knight-Hennessy application.
This is a highly competitive but transformative opportunity that includes leadership training and global networking.
4. Wharton Business School – Emerging Economy Fellowships
The University of Pennsylvania’s Wharton School provides targeted support to students from developing countries.
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Eligibility: Citizens of emerging market nations applying to the MBA program.
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Benefits: Varies, but can include partial or full tuition coverage.
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Application: Automatically considered upon admission based on financial need and background.
Wharton also offers Joseph Wharton Fellowships for exceptional academic and professional achievement.
5. MIT Sloan – McKinsey Award and Forté Fellowships
MIT Sloan School of Management provides numerous fellowship opportunities for international MBA candidates:
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McKinsey Award: For admitted students with previous employment at McKinsey & Company.
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Forté Fellowship: For outstanding women who show leadership in business.
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Benefits: Ranges from $10,000 to full tuition.
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Application: No separate application needed; considered during admissions.
Sloan emphasizes diversity and leadership potential in its selection process.
6. The Paul & Daisy Soros Fellowships for New Americans
This unique scholarship supports immigrants and children of immigrants pursuing graduate studies in the U.S., including MBA programs.
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Eligibility: Foreign-born students who have become U.S. citizens, permanent residents, or DACA recipients.
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Benefits:
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Up to $90,000 in funding
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Tuition and living expenses
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Application: Highly selective, requires essays and personal narrative.
While not available to all international students, those transitioning to U.S. residency may qualify.
7. University-Specific and Corporate MBA Scholarships
Most top U.S. business schools offer school-specific scholarships, some of which are available to international students:
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Columbia Business School – Offers the International Merit Fellowship and Laidlaw Foundation Scholarship.
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Chicago Booth – Provides Global Innovator Fellowships and The Wallman Fellowship.
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Kellogg School of Management – Offers Diversity Scholarships, Dean’s Scholarships, and others for international candidates.
Additionally, corporate-sponsored awards like The Aga Khan Foundation, Joint Japan/World Bank Graduate Scholarship, and Asian Development Bank Scholarships support MBA studies at U.S. institutions.
Tips for Applying to MBA Scholarships
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Apply Early: Many scholarship deadlines align with early admissions rounds (Round 1 or Round 2).
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Strengthen Your GMAT/GRE: A strong test score improves both admission and scholarship prospects.
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Show Leadership: Demonstrate real-world impact, entrepreneurial initiatives, or community service.
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Tailor Essays: Highlight how the MBA aligns with your goals and why you're a good investment.
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Prepare Recommendations: Choose mentors who know you well and can speak to your leadership potential.