MBA scholarships for minority students

One of the innumerable benefits of an MBA education is gaining access to a network of professionals from a range of backgrounds. As many schools continue to recognise the importance of equality in business education and diversity within their cohorts, the number of scholarships available to students from under-represented backgrounds has also increased in recent years.  

Below is a list of a number of scholarships for minority students, including scholarships for Hispanic students, Black students, LGBTQ+ students and students with disabilities. Although some of these scholarships may already be closed for this year’s entry, it’s worth checking this page throughout the year when applications re-open.  

Scholarships for Hispanic students: 

• LATAM Regional Scholarship – Imperial College Business School offers scholarships for applicants who are resident in one of the 24 Latin American countries (as defined by the United Nations). Up to £25,000 of financial aid is available for students with an excellent academic background, career potential, references and personal statement. The deadline for applications is 15 May 2023.  

• Prospanica’s University Partnership Programme – Prospanica is a non-profit dedicated to developing Hispanic talent and growing the number of Hispanic professionals across a range of industries. They’ve partnered with a number of top-ranked US business schools to offer financial assistance for MBA programmes, such as the University of Chicago’s Booth School of Business and IE Business School. In order to be eligible, students must be admitted into their university’s programme, be a Prospanica member, have a minimum GPA of 3.0 and be of Hispanic heritage. 

• LunaCap Foundation – Ten scholarships, worth US$10,000 each, are offered by this non-profit, which aims to help individuals from military or Mexican descent (born anywhere) study first-tier MBA programmes. Scholarships are available for a select list of US business schools, including Harvard Business School and Yale School of Management. The deadline for applications is 30 March 2023.  

Scholarships for Black students: 

• Oxford Black Leaders Scholarship – The Saïd Business School Foundation offers three scholarships, each one worth up to £30,000, for Black and mixed Black applicants who are either UK or US residents. Candidates must submit essays to two questions, demonstrating their commitment to diversity and inclusion, equality, leading ethically, and paying it forward.  

• Black Future Leader Award – These scholarships from Imperial College Business School are for students from Black or mixed black backgrounds from all regions, who can demonstrate their leadership potential and want to make a positive contribution to the Imperial community. A video assessment is required for this scholarship.  

• Black in Business Scholarship – Multiple scholarships are offered by London Business School, which cover up to 30 percent of tuition fees for each winner. LBS aim to support exceptional students of Black or mixed Black ethnicity who have a confirmed offer at the school. As part of your application, you’ll need to demonstrate your commitment to racially diverse and inclusive leadership within your country, community, industry, or organisation. 

• National Black MBA Association – This organisation’s collegiate partnership programme means that winners are awarded up to US$5,000 to study at some of the US’s most prestigious business schools. In order to be considered, you’ll need to be an active member of NBMBAA and a US citizen or permanent resident, along with other requirements which you can find here. Each partner school has their own deadline for submission. 

Scholarships for LGBTQ+ students: 

• Reaching out (ROMBA) – These fellowships are a joint effort between prominent business schools and ROMBA to increase the influence of the LGBTQ+ community in business by educating, inspiring, and connecting MBA students and alumni. Each Fellow will receive a minimum US$20,000 scholarship and access to exclusive leadership programming, including a retreat to kick off the Fellowship. This Fellowships is available at over 70 business schools from around the world, including INSEAD, LBS and UNSW Business School.  

• Somewhere MBA LGBT+ Scholarship – The University of Edinburgh Business School will offer one scholarship worth £10,000 for someone who is committed to making a difference to the LGBT+ community, especially within the business environment. Although this scholarship doesn’t require candidates to identify as LGBT+, it’s worth applying to if you can demonstrate your commitment to the community through previous action and support, either within the business setting specifically or in a wider sense through LGBT+ action. 

Scholarships for disabled students: 

• Snowdown Masters Scholarship – Although this scholarship isn’t exclusively for MBA students, a maximum of £30,000 is awarded to disabled students who can communicate a leadership mindset and have potential to influence change. The full eligibility criteria can be found here. Applications close on 31 March 2023.  

• Fellowship for a Manager with Disability – Central European University will cover up to 50 percent of tuition fees for their Executive MBA programme. Applications are open to disabled candidates who have at least eight years of professional experience, including at least three years of documented leadership or managerial experience.  

Scholarships for multiple groups of minority students: 

• The Consortium – Merit-based full tuition scholarships are awarded to some of the top US business schools. US citizens from all backgrounds will be considered, but you must be able to demonstrate a commitment to The Consortium’s mission of helping to reduce the serious underrepresentation of African Americans, Hispanic Americans and Native Americans in the workplace. As a Consortium fellow, you’ll be able to take part in the annual orientation programme and career forum, where students can secure internship and job opportunities.  

• Bank of Canada Scholarship Award for Post-Secondary Students – These Can$8,000 scholarships are awarded to assist students with disabilities, Indigenous, LGBTQ2S+, Francophone and those who identify as a member of a visible minority group or racialised group. Applicants must be a Canadian citizen or resident and be pursuing post-secondary studies in a field related to the Bank’s work including economics and finance, administration and operations, information technology and cyber security. Successful candidates may also be offered a work opportunity at the Bank, where they’ll be mentored by a Bank employee. Applications can be submitted online between March and May.