Scholarships are a great way to reduce the financial burden that come with an MBA program. Thankfully, there are thousands of scholarship options available to MBA students. You just need to make sure that you have enough time to work on a scholarship application. So, how to secure an MBA Scholarship?
Know your options:
There are many types of MBA Scholarships available to students. Need-based scholarships, merit-based scholarships and other targeted scholarship options are offered by many business schools. You should keep a tab on the business school website for updates on scholarships. Many scholarships are also offered based on ethnicity, nationality, gender and other such factors. Apply to scholarships where you have the best chance of getting through. You can also utilize Google Alerts, Twitter search and MBA fairs to learn more about scholarships.
Speak to students:
Speaking to current students and alumni networks can help you get a clear understanding of the scholarship application process. They can also connect you with scholarship opportunities that you may not be aware of.
Write a smashing scholarship essay:
A good scholarship essay can increase your probability of landing the scholarship. Try to focus on the value that you will bring to the MBA program. Scholarship essays are a great chance for you to impress the evaluators from a qualitative perspective, beyond quantitative factors such as GMAT scores and GPA.
Send in your applications early:
If you want to apply for scholarships, you should send in your applications early. It demonstrates your sincerity and interest in the program.
Remember, that a little effort on your part is all it takes to get an MBA scholarship. Many schools are willing to dole out MBA scholarships to secure the best talent pool.
Also read: Negotiating Merit Scholarships