MBA Scholarships for Women: A Complete Guide to Funding Your Business Degree

Pursuing a Master of Business Administration (MBA) can be costly, but women seeking leadership roles in business have access to a growing range of scholarships designed to support their educational goals. These MBA scholarships for women help reduce financial barriers, promote gender equity in business leadership, and expand professional opportunities across industries.

This guide explains the most notable scholarships available, eligibility criteria, application tips, and how to maximize your chances of securing financial support.

Why MBA Scholarships for Women Matter

Despite gains in educational attainment, women remain underrepresented in senior leadership roles across many sectors. Scholarships targeted at women support:

• Financial access: reducing the cost of tuition and related expenses

• Leadership development: encouraging women to pursue executive roles

• Diversity in business: fostering inclusive and representative workplaces

• Networking opportunities: connecting recipients with mentors and sponsors

These scholarships contribute to building a pipeline of women leaders with strong business credentials.

Types of MBA Scholarships Available to Women

MBA scholarships for women range from school-specific awards to national and international programs. Some key types include:

Merit-Based Scholarships

Awarded for academic excellence, professional achievement, or leadership potential.

Need-Based Scholarships

Based on financial need as demonstrated through documentation.

Industry-Specific Scholarships

Targeted at women entering specific fields like finance, technology, or entrepreneurship.

Organization or Association Scholarships

Funded by corporations, foundations, and professional associations with a mission to support women in business.

Top MBA Scholarships for Women

Here are some of the most widely recognized MBA scholarships specifically for women or with strong support for female candidates.

1. Forté Foundation Fellowships

The Forté Foundation partners with leading business schools to award fellowships to women pursuing MBAs. Many top programs offer Forté Fellowships covering significant tuition portions.

Forté Fellows gain access to:

• Professional development

• Mentorship networks

• Exclusive events and leadership programming

This fellowship is one of the most competitive and prestigious for women in MBA programs.

2. The National Black MBA Association (NBMBAA) Scholarships

The NBMBAA provides scholarships, awards, and financial assistance to African American women pursuing MBAs. Awards vary by chapter and sponsor.

NBMBAA also offers:

• Networking conferences

• Professional mentorship

• Internship and job opportunities

Candidates benefit from both financial support and community engagement.

3. The American Association of University Women (AAUW) Fellowships

While not MBA-specific, the AAUW awards fellowships and grants to women pursuing graduate business degrees. These awards often focus on women who demonstrate commitment to advancing gender equality.

AAUW fellowship recipients benefit from:

• Funding toward tuition or research

• Leadership programming

• National recognition

4. Women in Leadership Scholarship (Various Universities)

Many business schools offer university-specific scholarships for women demonstrating leadership potential. Programs at schools like Kellogg, Wharton, and Stanford provide fellowships or named scholarships for female MBA candidates.

Each school sets its own eligibility requirements and award amounts.

5. The P.E.O. International Peace Scholarship

Administered by the P.E.O. Sisterhood, this scholarship supports international women pursuing graduate degrees, including MBAs, in the United States and Canada. It is intended for women who have demonstrated leadership, academic excellence, and community involvement.

6. The Zonta International Amelia Earhart Fellowship

This fellowship supports women pursuing graduate degrees in aerospace and related fields; MBA candidates specializing in aviation management or similar areas may qualify. It is emblematic of support for women in specialized business domains.

7. Scholarships Through Women in STEM and Business Organizations

Various organizations, such as the Society of Women Engineers (SWE) and Women in Technology International (WITI), offer scholarships to women pursuing MBA concentrations tied to technology, engineering management, or analytics.

School-Specific Scholarships for Women

Many business schools actively promote gender diversity through targeted awards.

Examples include:

• Harvard Business School’s Women’s Student Association (WSA) Scholarships

• Wharton Women in Business Scholarships

• Ross School of Business Women in Leadership Scholarships

• INSEAD Women Leaders Scholarships

Each program has its own application process, criteria, and deadlines, so prospective students should consult individual school financial aid offices.

Eligibility Criteria: What Scholarship Committees Look For

While each scholarship has specific requirements, most evaluate applicants based on:

Academic Achievement

Strong undergraduate GPA and test scores (if required).

Leadership Experience

Professional accomplishments, community engagement, or evidence of leadership potential.

Letters of Recommendation

Insightful endorsements that speak to character, achievements, and future potential.

Personal Statement or Essay

A compelling narrative explaining career goals, impact, and how the scholarship will support success.

Professional Experience

Work history and career trajectory often weigh heavily in MBA scholarship decisions.

Application Tips for Women Seeking MBA Scholarships

Start Early

Scholarship deadlines may precede MBA admissions deadlines.

Tailor Your Essays

Show how your goals align with the scholarship’s mission and values.

Highlight Leadership

Use specific examples of influence, initiative, and results.

Leverage Networks

Connect with alums, faculty, and current recipients for advice and mentorship.

Prepare Strong Recommendations

Choose recommenders who can speak to both your achievements and potential.

Financial Planning Beyond Scholarships

Scholarships can significantly offset costs, but MBA candidates should also explore:

• Fellowships and assistantships

• Employer sponsorship programs

• Federal or private student loans

• Graduate savings plans

• Part-time work or internships

Combining funding sources often provides the most reliable financial strategy.

The One Section Where Bullet Points Are Used

• Scholarships address financial need and leadership goals

• Forté Foundation Fellowships are highly competitive

• Professional organizations support women in specific industries

• School-specific awards provide targeted support

• Strong applications emphasize leadership and clarity

These points summarize the core aspects of MBA scholarships for women.

How Scholarships Fit Into Career Advancement

MBA scholarships do more than reduce costs. They also:

• Connect recipients with mentors and networks

• Increase visibility among recruiters

• Signal leadership potential to employers

• Provide professional development opportunities

For women pursuing business leadership, scholarships are both financial support and career leverage.

Final Thoughts: Investing in Your MBA Future

MBA scholarships for women are growing in number and scope, reflecting increased commitment to gender equity in business leadership. Whether through national organizations, specialty fellowships, or school-specific awards, meaningful funding opportunities exist for prepared applicants.

Careful planning, authentic applications, and strong career goals increase the likelihood of securing financial support.