The cost of studying for an MBA is getting increasingly more expensive each year, making it even more difficult for aspiring professionals to advance their careers. This is further compounded by the present economic conditions. Scholarships are available, but they are not easy to acquire. You could spend a great deal of time looking in all the wrong places and still come up empty handed. This article will feature what it takes to get an MBA scholarship that will help you to fund your degree. It will look at who the main providers of scholarships are and what it takes.
Available Scholarships
In its bid to help citizens acquire an education and pursue their dream career, the government provides student loans and graduate school scholarships which are now also available for those pursuing higher education. These scholarships are of great assistance, as they can cover most of the expenses associated with your MBA studies.
Aside from the government, many colleges and universities offer scholarships for MBA studies, but these are disbursed based on merit. MBA fairs and MBA clubs also issue scholarships to their members. Other scholarship providers include companies, charities and financial institutions. Assistance may be offered in the form of grants/scholarships, bursaries, or loans.
Types of Scholarships
There are different types of scholarships available to people based on qualifications such as gender, ethnicity and country. Here are a few:
* Scholarships for entrepreneurs.
* Scholarships for students with disabilities.
* Scholarships for students from (named) country.
* Scholarships for students from developing countries.
* Specially named donor-funded scholarships for a specific type of candidate.
Searching
1. Google Alerts is a great source for keeping up-to-date on MBA scholarships. Subscribe to them for the keyword ‘MBA scholarships’ or for other keywords that may help you find specific scholarships such as “MBA scholarships for women.”
2. Switch to the news section on Google when using it to search for ‘MBA scholarships.’ This will allow you to view the latest news on MBA scholarships.
3. Use Twitter to your advantage. A search on MBA scholarships will yield information on the current buzz about these scholarships.
Applying
Aside from knowing the scholarships for which you may qualify, you also need to know how to go about applying for them to ensure you have the best possible chance of being selected.
- First of all, you need to increase your chances of getting a scholarship by applying for as many scholarships as you can.
- Apply for the less prestigious scholarships, as many people will have gone after the prestigious ones. The competition for less prestigious scholarships may be significantly less, giving you a better chance at being successful.
- If you have to do an essay to help you qualify for the scholarship, do your best to excel in it. Spend time writing a well thought out and convincing piece that will show off your capabilities. Excelling in your scholarship essay increases your chances of success.
It may be a bit difficult to acquire MBA scholarships, but it is not impossible. Your first step should be to inform yourself about what is available to you, and then execute a well thought out strategy to help you seal the scholarship.
Today’s guest article comes from Richard Kleven. He is an avid blogger and researcher. He is currently researching online EMBA no GMAT programs and reporting his findings to higher education online publications. He also enjoys sharing his insights on various blogs.
