Who will issue the MBA grant? MBA Study Scholarship at Harvard Business School USA MBA Scholarship

The Harvard MBA program is one of the most prestigious academic programs in the world. The Boustany Foundation is offering students a scholarship to study for this program. The scholarship is awarded on a competitive basis only to the best students. The scholarship is recruited once every 2 years. The program lasts 2 years.

The organizers are offering a scholarship of $ 90,000 ($ 45,000 per year). This amount is enough to pay for tuition in the MBA program, travel expenses and accommodation during the internship.

The scholarship can be received by students who will start their studies on the program in the fall of 2017.

Requirements for candidates

The scholarship can be received by candidates who:

• are promising students with excellent academic performance;
• enrolled in the MBA program and have confirmation of enrollment in the program;
• Applications are accepted from candidates of any nationality, but candidates of Lebanese origin are in priority.

To receive a scholarship, you must send for the following documents:

• a copy of your CV with a photo;
• GMAT test results;
• and a letter confirming the candidate's enrollment for the MBA program at Harvard University.

Successful candidates will be invited for an interview.

The best candidate will receive a scholarship in June!

Also, scholarship holders will be required to complete an unpaid internship of 2 months at the Boustany Foundation. Organizers pay fare and accommodation during the internship.

To become a student of a Western business school, you need to be a leader in character, have a fair amount of intellectual potential, have experience in managerial work, and be fluent in English. However, even the owner of all these advantages has a road to a prestigious MBA degrees closed if he does not have the tens of thousands of dollars required to pay for his tuition. But finding money is not as difficult as it seems at first glance.

It's the sweet word for scholarship.

The most common way to finance your business school studies is through bank loans. The second largest source of funds is scholarships, usually established by large companies or private sponsors. Scholarships can cover 25 to 75% of training costs.

"We have about 30% of international students, of which 10-15% receive scholarships," says Paul West, director of student financial aid at Fuqua Business School.

Quite often, scholarships in business schools are simply distributed among those who applied for financial assistance; in other cases, the schools issue them for special achievements (merit-based scholarship) - in particular, for good academic performance. For example, in the class of the 2000-2001 academic year, the Haas Business School University of California Berkeley (USA) offered such scholarships in the amount of $ 1.1 million "In the first year of study, we usually reward students with amounts of $ 10 to 25 thousand. Approximately 22% of MBA students in the first year receive some kind of payment for their achievements," says Deby Fiedler , Head of Financial Aid for this business school.

Carnegie Mellon Business School (USA) also prefers to pay scholarships to the best students. "There used to be scholarships for those who needed financial support“Scholarships are now rewarded for great merit,” says Lauren Tracy, the school's financial aid director. - We do not look at how much money the candidate earned in the past year or how much money he has in his deposit account. We fund those with professional or academic achievements. "

The IMD awards several “Presidential Fellowships” each year, ranging from CHF 16,000 to CHF 32,000. They are distributed personally by IMD President Tominik Tulpin, depending on the merits and financial situation of the candidates.

There are scholarships that are issued on some special basis - gender, nationality, etc. In IMD, for example, a woman who has passed competitive selection, can count on receiving a scholarship of 20 thousand Swiss francs, established by Nestlé (this amount should be enough to cover about a third of all the costs of obtaining an MBA in Lausanne). To receive this amount, you only need to fill out an application and write an essay about different forms management up to 750 words. The essay and completed application must be received by the school no later than September 1st.

For Stanislav Kiselev, Deputy Head of Representative Office of Egon Zehnder International, the scholarship covered about a third of the cost of training at INSEAD. "I have not seen my sponsor, Mr. Schultz, but I seem to have written to him thank you letter... He probably good man", - says Kiselev.

The scholarship funds of the best business schools are growing from year to year thanks to the monetary contributions (donations) of alumni, so every year the probability of receiving a scholarship becomes higher. "Two or three years ago, we began to provide financial aid foreign students, however, these payments are made only to deserving candidates. This has never happened before, "says Jim Holman, director of admissions at Indiana University's Kelly Business School (USA).

Major international companies also help business school students. For example, Wharton suggests whole line personal scholarships awarded by the school's partners from among the leading international companies, including American Express Company, Arthur Andersen, The Chase Manhattan Bank, Deutsche Bank, Ford Motor Company, Goldman, Sachs & Co. and others - a total of 16 companies.

However, it should be noted that foreign students can apply for only a small part of personal scholarships and the competition between them is growing along with the increase in the number of applications from foreigners to study at business schools. Merit scholarships are, by definition, not easy to obtain. “INSEAD has a scholarship for academic achievement, awarded at the end of the year on behalf of the Ford Foundation, - says Stanislav Kiselev. - Its size is about $ 30 thousand. In our class, it went to one guy who had higher education obtained at Oxford ".

You can also compete for a scholarship that obliges you to work some time for school. This is called fellowship. Debi Fiedler of Haas Business School notes that second-year students are eager to apply for the Graduate Student Instructor (GSI) position. "This year, 69 second-year students were offered teaching positions in undergraduate or graduate programs. The workload is becoming less heavy and allows students to work one or two days a week," she says.

It must be said about some conditions, the fulfillment of which will increase the chances of getting a scholarship. First, before entering, you need to collect as much information as possible about schools and apply only to those of them that have financial assistance programs for foreign students. The data can be obtained both on the websites of business schools and on specialized sites like eduPASS. com.

Secondly, the package of documents must be sent to the school as early as possible, preferably before the first announced application deadline. There are not enough scholarships for everyone, and the people who sent their papers last, often only have time for a nodding analysis. "We are awarding scholarships to those who apply in the first stream," says Paul West of the American Fikua Business School.

The Children of Captain Grant

Money for training in business administration can also be obtained in the form of a grant. Sometimes it allows you to pay not only tuition, but also some related expenses - for accommodation, airfare, health insurance etc. However, it is not easy to obtain such a grant; moreover, the recipient of the money cannot always choose the business school himself.

For a grant to obtain an MBA in the United States, you can apply to the Moscow office of the American Councils for International Education Corporation. The organization is running a Senator Edmund S. Muskie Grant Competition and the Freedom Support Act, funded by the Bureau of Educational and Cultural Programs of the US Department of State, which helped the first Russians to enter Stanford and Wharton.

Today, within the framework of these programs, more than 300 grants are issued annually for citizens of Russia and the CIS countries. According to the program representative Sergei Votyagov, according to the results of the 2001 competition, 14 Russians received grants to study in business schools.

The Edmund S. Muskie Program is a program of the Bureau of Educational and Cultural Programs of the United States Department of State and is supported by the Russian Ministry of Education. It was founded in 1992 by the US Congress and aims to promote the economic and democratic development of Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan. The program is administered by the American Councils for International Education (ACPRYAL / ACCELS) and the " Open society"(OSI).

It is highly likely that the grant recipient will be offered to attend a school that is not in the top ten. For example, Stanford Business School no longer admits Muskie Fellows since 1996, and neither has Columbia Business School. "They are thrown around those schools that want to attract foreign students," says Igor Sergeev, a student at Columbia Business School. "And leading business schools prefer to select people themselves."

Nevertheless, many applicants are not confused by this. To take part in the competition, you need to have a higher education diploma, be no older than 40 years, be fluent in English and have leadership qualities. Work experience and specialized education are desirable but not required.

The selection involves going through several stages. First, you will be asked to fill out a questionnaire in English, one of the points of which is writing an essay; and also submit three letters of recommendation, a copy of a diploma of higher education and an extract from the grade book (all documents must be certified and accompanied by a certified translation into English). The questionnaires will be analyzed by the members of the selection committee, after which the semi-finalists will be invited to take exams (you need to pass the TOEFL and GMAT tests). According to their results, those lucky ones who will receive grants will be determined. The deadline for submitting the questionnaires is the end of October. The exams will be organized in January-February and the finalists will be announced in April-May.

The British have a similar program. It is called the Chevening Scholarship and is coordinated by the British Council and is awarded to study for Master's programs (including MBA) in the UK.

40-50 such scholarships are awarded annually. According to the manager of the British Council, Lyubov Kovalenko, approximately 40% of applications for scholarships come from applicants intending to obtain an MBA. Approximately 30% of the 42 people who received the Chevening Scholarship in 2000-2001 academic year, went to study at a business school.

Chevening Scholarships have been awarded since 1991 and cover three to 12 months of study in the UK. The scholarship covers the cost of tuition, accommodation and air travel. In total, the applicant can count on an amount of up to £ 20,000. There is only one limitation - money is issued only for one year of study, respectively, with the help of a scholarship, you cannot pay for two-year programs in two of the most famous British schools - London (LBS) and Manchester (MBS).

According to Lyubov Kovalenko, both a person who has already entered a British business school and someone who is just going to do so can apply for the scholarship. “It so happens that the specialists of our office in Manchester are themselves looking for a business school that is ready to accept our candidate on the basis of his personal data, an essay written by him and the results of an interview,” she says. get to Manchester, the admission is already ending, so we recommend that you first go where the person wants, and then apply for our scholarship. "

To qualify for the scholarship, you must have a university degree and be fluent in English.

Applicants fill out an application (it can be downloaded from the British Council website), submit two recommendations, their translated and certified transcripts and copies of diplomas. During the selection process, applicants are interviewed and take a knowledge test in English IELTS. Most UK schools also require applicants to pass the GMAT test and work experience, so the British Council recommends that applicants keep this in mind. Acceptance of documents for the 2002-2003 academic year began on June 1 and will last until the end of September.

You can also apply for a grant to a well-known charitable organization Rotary Foundation. She accepts applications for scholarships until July 15. In the 2000-2001 academic year, more than 1,200 such fellowships were awarded to recipients from 69 countries. The total amount of financial assistance provided by the fund was $ 26 million.

The Ambassadorial Scholarships Program is the largest international scholarship program organized by a private foundation. It has existed since 1947, and since then more than 30 thousand people from 100 countries have received financial assistance within its framework. Among them are the former Prime Minister of Portugal Carlos Alberta da Mota Pinto, the Ambassador of the Netherlands to the United States Otto Borsh, a member of the UN Refugee Commission Sadako Ogata.

The most popular type of such scholarships - Academic-Year Ambassadorial Scholarships - provides payment for a year of study in another country, including master's programs in business administration. Provides payment for the cost of training, accommodation, meals, travel to the place of study and back. The total amount of the scholarship can go up to $ 25 thousand. In some countries, it is partially or fully taxed. In 2000-2001, the foundation awarded about 1,000 such scholarships. To obtain them, the applicant must contact the Rotary Foundation, fill out an application and pass the exam in foreign language proficiency.

Unfortunately, these scholarships also do not leave the applicant the right to make an independent choice. educational institution... He can only indicate his preferred countries. The final choice of country and institution is made by the Rotary Foundation, which encourages applicants to “be flexible”.

But those who want to get an MBA degree should not count on the Soros Foundation scholarships. According to Marina Batalina, a representative of the foundation, this organization supports people who want to study for master's programs in the humanities and social sciences, but not business administration and management. However, a scholarship for an applicant from Russia can be issued by the IMC Graduate School of Business in Budapest, created with the financial support of George Soros. With its help, you can cover all training costs. The number of scholarships awarded is not limited and depends on the number of applications submitted and the level of candidates. For example, in 1998, students from Russia were awarded six scholarships, and in 1999, two.

There are other foundations, but their programs are much smaller, therefore, the chances of receiving their grants are low. For example, Hobsons Publishing and the Association of MBAs (AMBA) can give just one scholarship a year in the amount of £ 10,000. To take part in the competition, you need to send information to AMBA about which AMBA accredited business school you are going to enroll in, and an essay of no more than 1,500 words on the topic "In the context of your career, what goals do you plan to achieve by obtaining an MBA degree? ? ". Applications are accepted until the end of April.

Banks will help you

As many graduates of US business schools say, in the second year of study, students have such a source of funding as a loan for consumer needs from local banks. Stanford graduate Stanislav Tsyrlin, who now works in the Moscow office of the Boston Consulting Group, notes that when a person is already overgrown with connections and can find an American guarantor, this is quite possible. This method of funding can help out if the grant or scholarship is not enough to pay for the entire course of study. "You can get an American Express card, which is issued without any problems, open an account at a local branch of the credit union. Then in a year you will already have a credit history and you can borrow money," says Tsyrlin.

The range of conditions for such loans is very large, but the rates usually do not exceed 10%. "Proposals to open credit cards come in batches," confirms Igor Sergeev. "True, if you indicate that you are a non-resident, they can take back their words. But some just write" resident ", most often nobody checks it."

Banks even vie for the right to issue loans to students of prestigious schools or open an account for them. "At INSEAD, on the first day, banks line up to lure students favorable conditions opening accounts. They are immediately offered loans, "- says Stanislav Kiselev.

As a rule, the business schools themselves can advise the student in which bank he can get a loan. “If we have a candidate with great potential from Russia, in which we are interested, we will always find him an option to receive money,” says Julian Jammers, director of the IMD career center.

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Place of study: IMD - Lausanne, Switzerland

IMD offers several MBA scholarships. Applicants can apply for multiple scholarships at once, but can only receive one scholarship. The scholarship holders are selected by a committee, the main criteria for awarding a scholarship: admission of a candidate to study for an MBA program, confirmation of intention to study in the program (through the first payment).

Scholarships:

1. MBA Class Scholarship for Emerging Markets. The amount of the scholarship is CHF 200,000. The scholarship is open to citizens of developing countries with excellent academic performance (GMAT), good references and stable career development.
2. I MD MBA Future Leaders Scholarships ( scholarship for future leaders). The amount of the scholarship is CHF 30,000. The 3 scholarships are for candidates who demonstrate excellent leadership skills. To receive a scholarship, you must write an essay (maximum 750 words) on the topic: “ It has been said that success in business requires flexibility to be responsive, but also commitment to a recognized set of values. Discuss using your personal and professional experience“.
3. IMD MBA Alumni Scholarships. The amount of the scholarship is CHF 30,000. 5 scholarships are intended for citizens (candidates do not need to be residents) of the regions: Asia, Africa, the Middle East, Latin America, Eastern Europe, Central Europe, Western Europe, North America, Oceania. To receive a scholarship, you must write an essay (maximum 1000 words) on the topic: “ Identify one tangible social, business or cultural issue in your region or country which you consider a priority to address. Why would you choose this issue and what makes you care about it? How would you, as a business leader (not a 3rd party or government), personally address it and ensure your business action has a sustainable impact?“
4. Nestlé Scholarship for Women(scholarship for women). The amount of the scholarship is 25,000 CHF. The priority for the scholarship is women from developing countries. To receive a scholarship, you must write an essay (maximum 750 words) on the topic: “ Many have argued that greater diversity in the Top Management team of an organization is good for profits and customers. What would you recommend as ways to achieve greater diversity?“
5. Jim Ellert Scholarship- The amount of the scholarship is 20,000 CHF. Priority for the scholarship is citizens of Africa, Central / of Eastern Europe, Southeast Asia Peninsula. To receive a scholarship, you must write an essay (maximum 500 words) on the topic: “ Why I would like to do an MBA at IMD?“
6. IMD MBA Merit Scholarships- The amount of the scholarship is CHF 10,000. 5 scholarships are available for candidates who demonstrate exceptional qualities in admission.

Requirements for admission:

• bachelor's degree or equivalent from an accredited university;
• GMAT at least 600 (80% of students score between 620 and 750);
• at least 3 years of work experience after obtaining a bachelor's degree;
• the candidate must be at least 25 years old;
• excellent knowledge of English (teaching in English);
• knowledge of another language besides English.

If you lack your own savings for a full-time MBA course, and you do not want to resort to traditional lending, there is at least one alternative source of funds for training. This is a scholarship or grant given by the school itself. Unfortunately, there are not as many scholarships for Russian students as, for example, for Indians, Arabs, Mexicans or African Americans - there are quite a few "national" scholarships for them. But something can still be found for the citizens of our country.

Scholarships are conventionally divided into talent reward (merit-based) and needs-based assistance. If you were denied the first one, you should feel free to apply for the second one. There are special scholarships that are issued to students from countries with developing economies - as a rule, Russia is classified in this category.

After Analyzing 100+ Scholarships Offered by Top-20 Business Schools Financial Times, we have selected the most profitable options that Russian students can apply for. Links to full list grants and scholarships from these schools are attached.

INSEAD

INSEAD Marguerre Endowed Scholarship for Entrepreneurial Talent

Scholarship amount: € 11,000 (if two scholarships per year) or € 22,000 (if one). The school determines the number of scholarships each year based on the quality of applications.

Awarded to students from Eastern Europe and Russia who, after graduation, want to start a Hi-Tec business. The founder of the award, the owner of the Swiss company Octopharma, Wolfgang Marker, graduated from school in Fontainebleau in 1972 and has been encouraging future startups ever since. To get a scholarship, you need to convince Marker in a 500-word essay that your product or service is needed by humanity, and your business plan can be implemented.

Chicago Booth

Merit-Based Scholarship

Scholarship size: $ 10,000-30,000 per year.

The best students are selected based on test results, essay grades, work experience. Please note that the scholarship is issued for a year - that is, for next year study you can stay without it.

The Harper Fellowships

Scholarship size: $ 25,000 per year (for 2 years of study).

This scholarship is awarded to students of outstanding leadership and academic excellence. GMAT, TOEFL, and university grades reveal how well a person is doing, and essays and recommendations reveal whether he is a leader. It should be noted that such vague requirements are common. Schools do this on purpose - in order to select really bright personalities from a larger number of students who fit in general parameters.

The Herman Family Fellowship

Scholarship amount: $ 50,000.

The selection criteria for the fellows is simple - CVs and essays of women entrepreneurs are considered. Suggesting the most convincing plan and having the largest entrepreneurial experience business woman "closes" half of the cost of training in Chicago.

The James M. Kilts Marketing Fellowship

Scholarship size: $ 25,000 per year (for 2 years of study)

The scholarship is awarded to promising marketing professionals - those who have chosen the Marketing Management direction and do not plan any relocations from this industry. Marketers are "identified" by their already existing achievements, which are confirmed by a package of documents. Each year, 5–8 students receive such scholarships.

The Zonis Fellowship

Scholarship amount: $ 25,000.

This amount will be received by students from countries with developing economies (including Russia) who have shown excellent leadership qualities, excellent academic performance and high social activity. They are selected based on test results, essays, place of work and position before admission.

The Distinguished Fellows Program

Scholarship size: full-tuition scholarship (that is, a scholarship that fully covers the cost of training) for 2 years + $ 20,000 each year for the entire period of study.

Awarded to the best students with the most outstanding leadership qualities and excellent management skills.

Harvard Business School

HBS Fellowship Program

Scholarship amount: determined individually.

The scholarship is awarded based on the financial needs of the student. Any special merit or talents are not counted. The commission looks at pre-MBA earnings and also examines all financial information the student submits and determines the amount. Every student who enrolls at HBS is eligible to apply for this scholarship. According to the website of the lavish business school, the average scholarship is $ 23,500.

The Robert S. Kaplan Life Sciences Fellowship

Scholarship amount: $ 20,000.

This scholarship has a curious history. It was founded in 1983 by scientist Robert Kaplan, who dreamed of young scientists entering the MBA program at Harvard and turning into first-class managers in science. $ 20,000 goes to students in biology or human sciences (medicine, anthropology, sociology, etc.). Priority will be given to students who have any awards or a compelling list of publications and plan to pursue a career in science-related business (or non-profit organizations). Scholarships are given to freshmen only. Typically, 10 students receive cash aid per year.

Horace W. Goldsmith Fellowship

Scholarship amount: $ 10,000.

Intended for students working in the non-profit sector. If you worked for public organization or led social projects, this scholarship is for you. 7-10 students receive it annually.

Stanford School of Business

Siebel Scholars Program

Scholarship amount: $ 35,000.

At the end of the first year of study, the school selects students based on the following criteria - highest grades, leadership qualities, collaboration with the business school community. Those who best fit the criteria become fellows. There can be no more than five of them per year.

Wharton

Emerging Economy Fellowship

Scholarship amount: $ 20,000.

The scholarship is intended for students from emerging economies, including Russia. The selection takes place on the basis of a variety of information in the submitted documents - as a rule, it is given to the most needy and most vividly shown managers. If you do not receive this scholarship, do not be discouraged - the school's website says that about 30% of students pay for tuition at the expense of sponsors, and it is emphasized that you can apply for several scholarships at once.

Columbia Business School

The Meyer Feldberg Distinguished Fellowship Program

Scholarship amount: fully covers the cost of training.

The school selects the best of the best in such areas as entrepreneurship (including social), finance, and military affairs. Selection criterion - place of work, position, professional experience of the student.

MIT Sloan

The Class of 2004 Diversity Scholarship

Scholarship size: from $ 5000.

A rather exotic scholarship sponsored by the 2004 school alumni. Their course was extremely varied - students from all continents, with different experiences, from different industries studied. After completing their studies, they decided to maintain a diversity of the student body. The scholarship is awarded to students with unique experience, education and even nationality.

The McKinsey Award

Scholarship amount: $ 10,000.

The selection of scholarship holders is simple - you have to study better than anyone else or, if everyone is a good student, be an excellent student. Evil tongues say that this is how McKinsey is recruiting nerds who are perfect for the lower and middle levels of consulting. Four freshmen receive the scholarship.

London Business School

LondonBusiness SchoolAnnual Fund Scholarships

Scholarship amount: up to £ 20,000.

The most massive and at the same time quite large scholarship at the London Business School. It can be obtained by successful students who have shown academic (determined by GMAT and TOEFL) and professional (by resume and recommendations) success and can not only listen to the MBA program, but also enrich it with their experience. There were 25 such people in 2009.