Top Mba Scholarships For First-generation Students In New York City – These 23 best MBA scholarships for minorities are offered by top business schools in the US and provide financial aid, leadership training and more.
Only 1.6 percent of Fortune 500 CEOs are black and only 3.2 percent are Hispanic. Women, Native Americans, the LGBTQ+ community, and people of color remain underrepresented in the workforce and business school.
Top Mba Scholarships For First-generation Students In New York City
But American business schools are taking steps to increase MBA diversity and offer a wide range of minority MBA scholarships—a great way to help finance your education at a top business school, regardless of your background.
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For MBA candidates from underrepresented groups, here are 23 diversity-related scholarships that help finance an MBA education at a US business school, available nationally and by school.
Whitney M. Young Jr. The scholarship is awarded by the African American MBA Association (AAMBAA) at Wharton University. The community commemorates American civil rights leader Whitney M. Young Jr., who led the National Urban League, the largest civil rights organization in the world, from 1961-71. The scholarship awards $25,000 to one student annually.
Quinton MacArthur, Senior Associate Director of MBA Admissions at Wharton, says, “Over the years, our WMY Fellows have been leaders, role models, and have embodied the qualities that led them to greatness.
“The WMY Fellowship is an annual reminder of the significant impact AAMBAA and the Black community have had on campus for decades.
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There are a variety of scholarships available through the National Black MBA Association (NBMBAA) that offer varying amounts. For example, NBMBAA scholarships at the Fisher College of Business at Ohio State University receive $50,000. Other business schools, such as Georgetown University’s McDonough School of Business, offer need-based funding that can cover full tuition for graduate students.
Paul North, Director of Graduate Studies at Fisher, says, “The Fisher College of Business values and prioritizes diverse experiences in the classroom while encouraging individual perspectives and diversity in all its forms.
University of Washington professor Sterling Schoen founded the Graduate Management Consortium to help African-American students gain the skills they need to fill roles in corporate America. Since then, the group has awarded more than $465 million to MBA students in America.
Scholarships for students who can demonstrate a commitment to the group’s mission can help alleviate the severe underrepresentation of African Americans, Hispanic Americans, and Native Americans in the enrollment and leadership teams of both schools.
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The group includes the Kelley School of Business, the McCombs School of Business, the Simon School of Business, the Jones School of Business, and many others.
Lina Bell, director of diversity, equity and inclusion at Rice, says, “At the Jones School of Business, we believe cultural competency is an important leadership competency for our MBAs. One of the many ways we foster an appreciation for diversity of thought and opinion is through representative student body ensuring that our portfolio of scholarships (made possible by generous donors) allows us to compete for sought-after talent.
The PepsiCo Cesar Chavez Latino Scholarship is available to Latino students in higher education in Arizona and California, where Arizona State University offers a scholarship for an MBA program. Students will receive $5,000 and must have a minimum GPA of 3.0 to apply. They must also agree to provide 30 hours of service to the Cesar Chavez Foundation within 12 months of receiving the award.
Students of Hispanic or Latino origin can apply for a number of scholarships available through the Prospanica Scholarship Program, which offer up to $5,000 in funding. Applicants must have a minimum GPA of 3.0 or 2.75 if they have sufficient work experience. Students from a number of leading US business schools, including Duke University’s Fuqua School of Business, Indiana University’s Kelly School of Business and OSU’s Fisher College of Business, are eligible to apply for the scholarship.
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The LatAm Ready Business Technology Scholarship, available at the Fisher College of Business, provides $1,000 in funding to Latino students. This scholarship is intended for students with a special interest in technology and computers, but all Hispanic students are eligible to apply.
The Georgetown McDonough School of Business partners with the Mexican Fund for Education, Technology and Science (FUNED), which was established in 1993. They support 5,500 students to date and support Mexican citizens with a bachelor’s degree of at least 8/8. 10 GPA and clear financial need. FUNED will cover 40% of the total cost, but this amount has to be paid with 5.75% IR.
The American Indian College Fund is available to all Native American citizens who are members or descendants of a recognized tribe. The fund is not specific to the Business School, but is available to graduate students. MBA students can apply for up to $20,000 in funding, provided they can prove their family heritage and maintain a GPA of 2.0 or higher.
Latino students at The Ohio State University’s Fisher College of Business can apply for an ALPFA scholarship if they have a GPA of 3.0 or higher. The scholarship has helped minority students secure roles at world-renowned firms such as Goldman Sachs and PWC. To apply, students must answer the question, “Why do you deserve an ALPFA scholarship?”
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Global scholarships are available to Indiana University Kelly School of Business students with ties to Latin America. This is defined as: Spanish or Hispanic American heritage, knowledge of Spanish, or work experience in Hispanic businesses. The scholarships provide $35,000 each year during the two-year program to help students pay their tuition fees.
Paul Capon, Guadalajara-born Moises Luna, Mexico, established the LunaCap Foundation MBA Scholarship for Mexico-born and veteran MBA graduates. Adopted by an American family at three months old, he was able to get an education, join the US Air Force and earn an MBA. He wants to take the cost of an MBA out of the equation for the most deserving students and help them get a career out of a top MBA program.
Students from top schools such as Harvard, Haas, and Wharton are eligible for $10,000 scholarships each.
Full-time students who can present a tribal law certificate may be eligible for one of 30 scholarships and grants offered by the American Indian Graduate Center to American students. For the past 50 years, the organization has worked with tribes, educational institutions, businesses and individuals to finance promising Native Americans.
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The Wells Fargo American Indian Scholarship is of particular interest to MBAs seeking careers in areas related to banking, resort management, gaming operations, management and administration, including accounting, finance, information technology and human resources students.
The scholarship was established in 2008 by the Shakopee Mdevakanton Sioux Society for undergraduate and graduate students at the University of Minnesota and is available to talented Native American students with financial need. Graduate applicants must have documented evidence of their heritage and strong academic record.
The Prism Scholarship, available to Wharton Business School students beginning in 2020, promotes diversity at the school by supporting an LGBTQIA student who has demonstrated leadership in community advocacy. The scholarship provides full tuition for both years of the full-time MBA program.
The Point Foundation is the largest LGBTQ-focused scholarship in the United States and provides support to LGBTQ students in the form of funding, mentoring and leadership training.
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Point Scholars are also committed to giving back to the community and doing community service research to help them. Scholars must demonstrate strong academic performance and scholarships are based on financial need.
Partnering with more than 60 schools, including Kogod School of Business, Duke Fuqua, Jones Graduate School of Business, and Georgetown McDonough School of Business, ROMBA scholarships are available to LGBT+ students. Each participant will receive at least $20,000 and leadership and career opportunities to build the next generation of LGBT+ business leaders.
“The Kogod School of Business is proud to partner with Reaching Out MBA (ROMBA) and offers scholarships that promote diversity, equity and inclusion among our graduates. These scholarships also provide organizational membership and access to networking, professional development and career advancement come with research opportunities.”
These highly competitive scholarships are available to those in the business school community who “demonstrate exemplary leadership, diverse backgrounds and a commitment to advancing women in business.” Business school, students are selected by the schools themselves to support Forte.
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In addition to financial aid, Forte Fellows receive career counseling and support, an expanded community for networking, and leadership and development opportunities.
The Robert Toigo Foundation supports minority students entering the financial industry. The Toigo MBA Scholarship is available to students enrolled in an MBA program, and all minority students as defined by the US Department of Labor are eligible.
This scholarship not only includes up to $10,000, but also guarantees students an internship and two years of employment after graduation with one of the organization’s financial companies. Successful peers require commitment
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