MBA Fellowship: Who Receives Them And Who Benefits?

All of the most prestigious business colleges and universities have MBA Fellowship programs. This long practiced tradition is vital to these schools and the students who attend them. Why are the MBA Fellowship programs so vital, however?

Why is committing to an MBA Fellowship program in a school's best interest?
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One very important reason an MBA Fellowship program is vital is that these programs are necessary for ensuring a schools is able to enroll the most talented students from across all demographic considerations. Financial circumstances need not exclude a highly talented person from advancing their education. Most schools that offer an MBA Fellowship recognize that legitimate business talent should never be narrowly defined.

MBA Fellowships are vital to the effort of ensuring the ongoing affordability of a given program. These programs directly influence a student's debt and thus their overall ability to participate in MBA programs. A high balance on a student loan can narrow a candidate's career opportunities and in some cases, it may prevent a student from even applying for an MBA program to begin with.

Where does the funding for MBA Fellowship programs originate?

MBA Fellowship programs depend on the generosity of alumni and friends of the institution. In many cases outside funding from individuals and organizations fund a school's MBA Fellowship program.

Are students responsible to pay back MBA Fellowship funds?

No. Once a student is rewarded a MBA Fellowship they are not required to pay back the money they receive.

How are students selected for MBA Fellowship programs?

Students who desire acceptance to an MBA Fellowship must first apply for such through the admissions office of the schools that they are applying. Students who are considered will display a variety of skills and accomplishments, backed up by actual experience. They generally are able to demonstrate leadership abilities and the capacity to thrive at a level that is superior to that of their peers.

An MBA Fellowship is typically awarded based on an analysis of the previous years immediately prior to the student applying. The school will typically take into consideration a student's income as well as their personal assets to determine eligibility.

Is Eligibility for an MBA Fellowship based on academic performance?

Harvard Business School awards an MBA Fellowship according to the financial need of the student. The school does not base financial aid eligibility on academic performance. At Harvard Business School, almost fifty percent of the class will receive a need-based MBA Fellowship. Students who do so, are also eligible to receive additional funding up to $10,000 dollars from outside sources without it affecting their Fellowship funding.

Do all schools use the same criteria for awarding an MBA Fellowship?

Every school has their own criteria for awarding an MBA Fellowship. At Wharton School of Business, students receive merit-based fellowships through applying at the department of admissions. Approximately thirty percent of their first year students qualify for the program. Additional criteria for eligibility include extracurricular activity, personal background, leadership, interpersonal skills, community involvement, and the integrity of the applicant.

The students who receives an MBA Fellowship are not the only ones who benefit from these programs. The schools who receive these students benefit as well, by applying a broad application process. This attracts the best and brightest candidates to their programs. In the same sense, the business community as a whole benefits from these programs. They are supplied with leadership of the highest caliber. In this way, business and financial institutions, all across the globe remain vital. In today's global community, this is a much-needed function.