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Financing Your MBA at Stanford GSB With Fellowships

Posted by Chioma Isiadinso

The Stanford Graduate School of Business offers a top tier MBA education with the benefits of gorgeous year-round weather, a flexible curriculum, and proximity to Silicon Valley.

If your heart is set on Stanford, the cost of attendance will set you back approximately $225,000+ according to most recent figures. Stanford has stated its commitment to providing need-based aid but expects its matriculants to contribute to the cost of attendance through loans and other means.

If taking out loans is not an attractive or potential option for you, continue reading for more information about Stanford MBA Fellowships. Be sure to visit the financial aid website for up to date information on all financial aid policies and fellowship offerings.

Stanford Africa MBA Fellowship

If you are an international student from the continent of Africa/African citizen, and you are interested in making Stanford your alma mater, this fellowship is for you. The Stanford Africa MBA fellowship program offers funding packages that include a tuition scholarship as well as assistance with room and board, for a total of $170,000 for the two-year period. If you apply and are making less than $20,000 at the time of your application, Stanford will waive your application fee.

Get considered: Stanford is specific in its requirements of applicants to this fellowship. In addition to being an African citizen, you are required to return to Africa for two years upon graduation from the MBA program in a professional role that contributes to the development of Africa. To assess worthiness, the admissions committee requires that applicants to this fellowship submit an essay about their strong ties and commitment to Africa as well as their plans for impact. Desirable candidates will successfully showcase great intellect, leadership skills and commitment to the betterment of the African continent.

Knight Hennessy Scholars

This program by Stanford is a unique arrangement that provides full funding to individuals pursuing any graduate degree, as well as those pursuing joint degrees. The mission of the Knight-Hennessy Scholar program is to groom leaders prepared to effectively confront and solve world challenges through interdisciplinary methods and skills. The program creates a community for the scholars to learn and grow together, while engaging in differing academic pursuits.

Get considered: You essentially have to be the greatest thing since sliced bread. On a serious note, the admissions committee is looking for individuals who stand out as independent thinkers, leaders and community engaged. You must demonstrate these traits throughout your application from your recommendation letters, résumé, short-answer responses, video story and in-person assessment. Check the Knight Hennessy Scholars Page for a full list of eligibility criteria and admissions requirements.

Charles P. Bonini Partnership for Diversity (P4D)

This fellowship is geared toward underrepresented minorities in business and those considered to add a unique and/or diverse perspective to the field of business. Individuals accepted to this fellowship have the privilege of completing a pre-MBA internship with a corporate partner lasting 9-12 months. The internship is paid and provides benefits. In addition, fellows receive full-tuition grants for both years of the MBA Program.

Get considered: All applicants must write an essay detailing how their background and experiences will contribute to diversity at Stanford. Applicants must also address in their essay how the P4D fellowship will make them better leaders. In addition to essays, applicants must submit a list of interests and activities involved in from college to present day. Be sure to include those interests and activities that not only reflect the depth of your commitment and leadership skills, but also those interests and activities that set you apart.

Stanford Reliance Dhirubhai Fellowship

This fellowship is for Indian citizens currently living in India who desire to obtain a Stanford MBA. The Reliance Dhirubhai Fellowship provides financial support for 80% of the cost of attendance for the two-year Stanford MBA program (approximately $180,000).

Get considered: Applicants to this program accept the requirement to return to India within two years of graduating and working in an Indian organization. Successful candidates demonstrate in their essays, résumés, and recommendation letters a strong commitment to the development of India, as well as a clear vision as to how the Stanford MBA will contribute to the applicant’s mission.

Stanford USA MBA Fellowship

Similarly to the Stanford Africa MBA and the Stanford Reliance Dhirubhai Fellowship, the Stanford USA MBA Fellowship has a narrow scope and geographic target. Applicants to this program must be committed to the economic development of the US Midwest. This fellowship provides support of $160,000 spread out over the two-year MBA program. Applicants are required to work in the Midwest for at least two years in a role that contributes to the Midwest’s economic development within 4 years of graduating from Stanford.

Get considered: Stanford gives sample criteria for consideration as it relates to demonstrating commitment. If you can prove residency in one of the eligible Midwest states (residency of at least 3 consecutive years, graduation from a high school in one of the states), that is one important ranking factor. Another important factor is the essay detailing intended contributions to the region. Be as specific as possible and be sure that your intended contributions make sense with the rest of your application and the story it is telling.

Contact us today to find out how we can help you put together a compelling MBA application to the school of your dreams.

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