Finding a way to afford your MBA degree shouldn’t be as challenging as the application process, but often it can be. With acceptance to a top MBA program can often come a top cost, which can often be a deterrent for someone pursuing their graduate degree. Through funding and scholarship opportunities, however, students may have the opportunity to reduce the cost of their degree, helping more up-and-coming business professionals have a shot at the quality education they deserve.
The Stern School of Business at New York University is consistently ranked among the best business schools in the country, most recently tying with Duke University’s Fuqua School of Business for the 12th spot in the U.S. News and World Report‘s 2017 ranking of top business schools. But with such a high quality education can often come a hefty price tag: full-time tuition at the Stern School of Business is $66,588 per year and $2,090 per credit for part-time programs.
Thankfully, Stern offers students a number of opportunities for scholarships and other funding options. According to Stern’s website, roughly 20 percent of admitted students to the full-time program receive merit-based scholarships, the majority of which are either full or half tuition awards.
Below are just a few of the scholarship opportunities students have access to when accepted to the Stern School of Business for a full-time MBA.
Dean’s Scholarship: The Dean’s Scholarship at Stern is a full tuition scholarship and one of the highest honors an admitted student can earn. They scholarship is offered in the name of Stern Dean Peter Henry to the most meritorious applicants and also allows recipients to connect directly with the Dean.
Named Faculty Scholarship: The Named Faculty Scholarship at Stern is a full-tuition scholarship based on merit, which pairs admitted students with top faculty at the school. The students are matched with faculty based on their interests and experience in a particular field, offering students the chance to develop a close relationship with the faculty member during their time at Stern. Last year, 14 faculty members were paired with incoming students.
Consortium Fellowship: The Consortium Fellowship is another full-tuition fellowship awarded on behalf of Stern and the Consortium for Graduate Study of Management. The Consortium, which aims to enhance the representation of Native Americans, Hispanic Americans and Black Americans in business and management education, seeks up-and-coming business leaders from these groups and others who show a passion for the Consortium’s mission. Those interested in the scholarship must apply to NYU Stern through the Consortium applications to be eligible.
Fertitta Veterans Scholarship: The Fertitta Veterans Scholarship is designed to provide opportunities and funding for U.S. military veterans and active duty students. The scholarship, which was a gift from alumnus Lorenzo (MBA ’93) and Frank Fertitta, reduces student tuition to a flat $30,000 per year. Students who receive the Fertitta Scholarship that are also eligible for additional veterans benefits, such as Yellow Ribbon funding, will still have the chance to access those benefits.
Advancing Women in Business Scholarship: A newly established scholarship, the NYU Stern Advancing Women in Business aims to support women business leaders and those committed to advancing women in business. Students will be selected for the scholarship based on merit and will receive funding for one year of tuition and the accompanying fees. This brand new scholarship is funded through a combination of alumnae support and through members of the Stern School’s Board of Overseers.
ROMBA Fellowship: The ROMBA Scholarship at Stern is awarded based on merit to admitted Stern students who identify as a member of the LGBTQ community. Reaching Out MBA (ROMBA) is an organization that aims to connect and inspire up-and-coming LGBTQ business professionals. Each student who is selected as a ROMBA Fellow will receive $10,000 per year at minimum to fund their business education.
William R. Berkeley Scholarship: Reserved for undergraduate seniors, the William R. Berkley scholarship supports hardworking college seniors who choose to pursue a full-time MBA at Stern directly following graduation. The scholarship, which was founded in 2013, not only covers two full years of tuition and fees, but also offers a housing stipend of $18,000 per year and a $10,000 stipend for books and additional program expenses.