Top 5 MBA Scholarships In 2023

MBA (Masters of Business Administration) is a postgraduate degree program that offers better opportunities and career growth. But it comes at a high price, costing as much as $250,000. Students who are not financially capable end up taking out loans, which usually come with high interest rates, adding to their difficulties. However, taking MBA scholarships will help students a great deal by covering part of their tuition fees.

Some MBA scholarships, however, take full responsibility for students’ tuition fees. However, applicants should ensure that they have a high education profile, work and professional goals, interpersonal and leadership skills, etc. to increase their chances.

MBA Scholarships for 2023/2024 Academic Session

Here are five currently available MBA scholarships interested students can apply to.

Sheffield MBA Scholarships Scheme At The University Of Sheffield, UK

The Sheffield MBA Scholarship is offered by the University of Sheffield, United Kingdom. The scholarship aims to help talented and ambitious students from international countries start their MBA program at the prestigious university.

Value

The scholarship offers up to £10,000 to the beneficiaries. Only a limited number of students will be able to benefit from this scholarship. However, though there is no stated number at the moment.

Application Instructions

Applicants must be international students and ensure they meet all the entry requirements for the university. They must also meet the language proficiency requirement to enroll in the MBA program at the university.

Interested applicants can apply by submitting their full-time MBA application at the institution, after which the scholarship will be automatically awarded. All applications should be done using the university’s postgraduate online application form.

However, note that the admission is on a competitive basis, and all candidates will be holistically evaluated. If an in-person interview is impossible, the organizers will arrange for an online interview. For more information on the post-application process, kindly visit the university’s webpage. Note that applicants who have been offered admission through the exception process do not qualify for the scholarship.

Deadline

The application period for the Sheffield MBA Scholarship ends on November 18, 2022, February 17, 2023, April 14, 2023, and June 9, 2023.

Black Future Leaders Scholarship at the Imperial College London, UK

The BFL Scholarship at Imperial College is an MBA scholarship organized by Imperial College London in the UK. It is open to all students all over the world. Applicants must have a strong academic background and an excellent record of accomplishment of professional achievement and leadership potential to qualify for the scholarship.

Application Instructions

Interested applicants should proceed to the university portal and log in to submit their application on or before the deadline. Applicants should submit a video assessment during their application. They must also present the following documents during their application:

• Full transcript of applicant’s degree studies
• Personal statement,
• Video assessment
• Curriculum Vitae (CV)
• Contact details of two referees

Only candidates who submit their applications and receive an offer of admission into the program are eligible for the scholarship. And once offered admission, successful applicants will receive an offer for the MBA scholarship program.

Note: Candidates whose native language is not English need to take an English test.

Value

The scholarship only covers 50% of the tuition fees.

Deadline

Applications for the Black Future Leaders Scholarship at Imperial College London, UK, close on January 9, 2023.

Budapest Master’s and MBA Scholarships at International Business School, Hungary

The International Business School located in Hungary is hosting the Budapest Master’s and MBA Scholarship. The scholarship offers quality and affordable education to international students wishing to pursue their M.Sc. or MBA programs in Hungary.

International Business School, Hungary provides economically and culturally relevant English-language business and management-related education to people willing to benefit from it

Application Instructions

Applicants should visit the school’s website to apply online for the Master’s or MBA program of the school. They must indicate their intent to receive a Budapest Masters and MBA scholarship by sending an email to scholarships@ibs-b.hu, attaching their motivation letter. Applicants must submit documents such as their academic records and proof of English language proficiency.

Applicants must submit their English language proficiency test results with at least 9.0 for IELTS and 94 for TOEFL IBT.

Value

The scholarship offers a partial tuition fee that applicants will receive based on their academic merit, ranging from 10% to 35% for a 3.00 to 4.00 CGPA result.

Deadline

The application for the Budapest Master’s and MBA Scholarship for September 2023 ends on May 31, 2023.

Kick It Out Scholarships at the University of Liverpool Management School, UK

This is an MBA scholarship by the University of Liverpool in conjunction with the organization, “Sky and Kick Out.” This scholarship is open to only four students from the under-represented ethnic groups in the UK in 2023.

Application Instructions

Interested applicants can only apply for the scholarship via the university’s application portal, and they must submit the following documents when applying:

• University transcripts and translations, if needed
• School or college transcripts
• Personal statement
• Degree certificates
• Two referees

 Candidates must possess a minimum of 3 years of substantial managerial experience in the private or public sector. They must also hold a 2.1 Honors degree in any discipline from a UK university. Equivalent professional qualifications from non – UK institutions are also welcome. Applicants must, however, submit English language proficiency tests with a minimum score of 6.5 Eligible applicants can proceed with their application here.

Value

The scholarship offers a £25,000 annual award covering total tuition fees for the academic year 2023/2024 for only four students.

Deadline

The application closes on April 30, 2023.

Ray Kruck & Jennifer MBA Entrance Award at UBC Sauder School of Business, Canada

The Ray Kruck & Jennifer MBA Entrance Award is hosted by the UBC Sauder School of Business. The MBA scholarship is available to Canadian citizens and international students. The award is available to assist international students who want to apply for a Master’s degree at a university in Canada. It is open to applicants who are ready to show commitment to solving the climate crisis through their past work experience, career ambitions, and responsible leadership.

Applicants must however, ensure that they meet all of the given requirements.

Application Instruction

Interested applicants should create an account on the university portal to continue their application. They must ensure they meet all the univeristy’s entry requirements to gain entrance into a master’s program at the school.

Applicants are to provide a copy of their motivation letter, research proposal, statement of purpose, and CV. They must also ensure that they submit their English language proficiency test result, which can be any of the following with the least scores attached:

• TOEFL 80+
• IELTS 6.5+
• UBC ELI 5+
• CAEL 70

Value

The scholarship offers a $10,000 annual entrance award to two qualified students for the Master of Business Administration program.

Deadline

The deadline to apply for the Ray Kruck & Jennifer MBA Scholarship is March 14, 2023.

Conclusion

Taking a Masters of Business Administration is an expensive decision to make, such that over 30% of students complain about its cost. However, MBA scholarship opportunities will help exceptional but financially challenged students achieve their career goals. Applications to the above MBA scholarships are still on, and applicants should take their chance and apply as early as possible. However, they should ensure they meet all eligibility requirements before applying.