Stanford MBA Scholarships: A Guide to Financial Support


 

Pursuing an MBA at Stanford Graduate School of Business (GSB) is a dream for many. However, with tuition fees for the 2024-2025 academic year set at $82,455 per year, the program can be financially challenging for some. That’s where Stanford MBA scholarships come into play, offering students a way to fund their education.

In this guide, we’ll explore the different scholarships, fellowships, and financial aid options available for Stanford MBA students, making it easier to understand how you can afford this prestigious program.

Types of Stanford MBA Scholarships

Here are some of the types of Stanford MBA scholarships:

1. Need-Based Fellowships

Stanford GSB awards need-based fellowships to students who demonstrate financial need. Nearly half of MBA students benefit from these fellowships, with the average award being $44,000 per year (or $88,000 over the two-year program).

These funds are grants, meaning students don’t have to repay them. If you’re worried about covering the costs of your MBA, applying for a need-based fellowship is a great first step.

2. Knight-Hennessy Scholars Program

The Knight-Hennessy Scholars Program is one of Stanford’s most prestigious scholarships. Each year, it supports up to 100 high-achieving students from various Stanford graduate programs, including the MBA.

This program covers:

  • Tuition fees

  • Living expenses

  • A travel stipend

  • Funding for additional academic enrichment

It’s more than just financial aid; scholars also receive leadership training and participate in workshops to enhance their skills.

3. BOLD Fellows Fund

The Building Opportunities for Leadership Diversity (BOLD) Fellows Fund is designed to support students who demonstrate financial need and are committed to promoting diversity, equity, and inclusion.

Recipients can receive up to $15,000 per year. To apply, students must complete a supplemental application along with their standard financial aid forms.

4. Stanford Reliance Dhirubhai Fellowships

For students from India, the Stanford Reliance Dhirubhai Fellowship offers an incredible opportunity. This fellowship covers up to 80% of tuition costs for selected Indian students who require financial support.

The catch? Recipients are expected to return to India after graduation and contribute to the country’s development for at least two years.

5. External Scholarships

Stanford MBA students also have the option to apply for external scholarships offered by various organizations, including:

  • Fulbright Program

  • Forté Foundation (for women)

  • Consortium for Graduate Study in Management

These external scholarships are competitive but can significantly reduce the financial burden of your MBA.

Additional Financial Support

Loan Forgiveness Program

Stanford GSB encourages graduates to pursue careers in public service or non-profits through its loan forgiveness program. If you choose to work in these sectors, a portion of your student loans may be forgiven, making it easier to follow your passion without worrying about finances.

How to Apply for Stanford MBA Scholarships

To apply for need-based fellowships, you’ll need to submit:

  • Free Application for Federal Student Aid (FAFSA)

  • CSS Profile

These documents help Stanford’s financial aid office determine your financial need. Based on their evaluation, you may receive a mix of fellowships and loans to cover your expenses.

Why Financial Aid Matters

Stanford GSB’s scholarships ensure that talented students from all financial backgrounds can access a world-class MBA education. With options like need-based fellowships, specialized programs, and external funding, Stanford is committed to making its program inclusive and affordable.

If you’re planning to apply, take the time to explore these opportunities and submit your financial aid applications early.

Conclusion

Getting an MBA from Stanford is a significant investment, but it’s one that can pay off with the right financial support. By leveraging Stanford MBA scholarships, fellowships, and external funding, you can make your dream of studying at Stanford GSB a reality.

Research all available options, apply early, and don’t hesitate to reach out to Stanford’s financial aid office for guidance. Scholarships like these are designed to help students achieve their goals without letting finances stand in the way.

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