Ten MBA scholarships and fellowships are offered below, all of which are intended to increase the percentage of minorities in executive positions nationwide.
There are campus organizations at every business school that provides networking opportunities and resources for women and ethnic and racial affinity groups. There are, however, a lot of independent organizations working to support BIPOC students pursuing their MBAs through initiatives aimed at boosting minority representation in business leadership.
These organizations open doors for underrepresented minorities to interact with sizable professional networks and gain access to minority MBA scholarships, graduate fellowship programs, and grants for graduate education.
These ten MBA scholarships are for students of minorities.
Read More: MBA Scholarships for Women: How to Apply?
National Black MBA Association Graduate Scholarship
The National Black MBA Association Graduate Scholarship offers a selection of scholarships for African American students, with merit- and need-based awards ranging from $1,000 to the full cost of attendance at select universities. According to university policies and guidelines, there are different deadlines for general scholarship funding.
The National Center for American Indian Enterprise Development Scholarship
The National Center for American Indian Enterprise Development offers scholarships to students majoring in business or related fields in their junior or senior years or graduate studies at recognized American universities.
Explicitly for Indigenous American students with a certificate of tribal enrollment in either the contiguous United States or Alaska. Scholarship amounts vary.
Association of Latino Professionals (ALPFA) Annual Scholarship Program
Students of Hispanic and Latinx descent enrolled in full-time studies at recognized American universities and colleges are eligible to apply for scholarships from the Association of Latino Professionals.
The minimum grade point average for applicants is 3.0 on a 4.0 scale, and they must also meet a number of other requirements, such as enrolling full-time in a business program by their sophomore year of undergraduate study or later. Scholarship awards range from $2,000 to $10,000.
Cathy L. Brock Memorial Scholarship
The Cathy L. Grant is an annual $1,000 scholarship given to one student. Students working toward a master’s degree in healthcare management, including MBA candidates interested in working in the field, are eligible for the Brock Memorial Scholarship.
To be considered, applicants must have a 3.0-grade point average, be US citizens either by birth or naturalization and show financial need.
Point Foundation Scholarships
The Point Foundation Scholarships are available to LGBTQ students who are enrolled in undergraduate, graduate, or doctoral programs. To be eligible for the scholarship, a student must be enrolled full-time in their academic program and have an impressive academic record.
They must also have demonstrated leadership and community service. Scholarship awards range in value, and recipients’ financial needs and other considerations are taken into account when determining awards.
The Goldman Sachs MBA Fellowship
For 25 years now, Goldman Sachs has offered its MBA Fellowship “to recognize outstanding students and their achievements.” Black, Hispanic/Latinx, Native American, and/or female first-year MBA students are eligible to apply.
Those who accept a full-time position with the company after completing the internship will receive an additional $40,000 plus any signing bonus in addition to the $35,000 award that they will receive as salaried summer associates.
The Consortium for Graduate Study in Management Fellowships
Noting that “of the 10,000 MBA students who graduate every year from top-tier business schools, fewer than 8 percent are African American, Native American or Hispanic American,” the Numerous full-tuition fellowships are given each year to the best MBA programs, according to the Consortium for Graduate Study in Management.
The more than 80 corporate partners of the consortium are accessible to its fellows as well.
The Howard E. Mitchell Fellowships
The University of Pennsylvania’s Wharton Business School bestows the Howard E. Mitchell Fellowships to “traditionally underrepresented domestic populations, specifically Native American/American Indian or Alaskan Native, Black/African American, Latino/Hispanic, Native Hawaiian/Asian Pacific Islander.”
Eligibility criteria for the full-tuition grants include “proven leadership, academic excellence, work experience, and/or demonstrated commitment to empowering traditionally underrepresented groups.”
The Auburn University Harbert College of Business Scholarship
Members of the National Black MBA Association are eligible to apply for scholarships at the Harbert College of Business at Auburn University, where they will be awarded financial aid to pay all or part of their tuition as well as a monthly stipend. Online, full-time, and executive MBA programs are all available at Harbert.
The Toigo Fellowship
The Robert Toigo Foundation’s motto is “Bringing Diversity to Life,” and the organization works toward that goal with the Toigo Fellowship. “Finance firms are actively seeking diverse individuals to be part of their organization—and they look to Toigo to meet their needs,” the foundation says.
“You put a lot of effort into your education as a rising MBA candidate. We will assist you in increasing the return on your investment by making you a Toigo Fellow.”
Conclusion
MBA scholarships and support for underrepresented minority students are worthwhile and significant opportunities.
Each of these MBA scholarships gives minority students a variety of funding options for their studies, giving them a better chance to have an impact on the business world at home and abroad.
