Scholarships & Financial Aid
An MBA is a significant financial investment, but there are many resources available to assist you in financing your degree.
We offer a number of scholarships to admitted applicants, including:
All applicants who apply are considered at the time of admission for awards ranging from $1,000 to full tuition; no additional application is required.
Forté Foundation Fellows
Forté Foundation Fellows is an honor given to select female MBAs at participating business schools. Each fellow receives a scholarship ranging in value from the ILLINOIS MBA. The Forté Foundation is a consortium of major corporations and top business schools that has become a powerful change agent in educating and directing talented women toward leadership roles in business. For more information, please visit the Forté Foundation website.
NSHMBA University Partnership Program
NSHMBA University Partnership Program offers scholarhsips through the ILLINOIS MBA for outstanding Hispanics. The National Society of Hispanic MBAs has teamed up with several colleges and universities across the United States in the hope for increasing the number of Hispanic students completing bachelors and masters degrees. For more information, please visit the NSHMBA website.
We Want You Back: The Illinois x 2 Scholarship
The Illinois x 2 Scholarship offers a 50% tuition reduction for the full length of the ILLINOIS MBA. The scholarship is exclusively for University of Illinois at Urbana-Champaign alumni who meet the following criteria:
- Are admitted to the Illinois MBA
- Hold a bachelor's degree or master’s degree from the University of Illinois at Urbana-Champaign
- Have a minimum of two years of post bachelor’s degree professional work experience
- Competitive GMAT or GRE score (Note: “Competitive” is in comparison with our current pool of applicants)
- Have a minimum GPA of 3.3 for the last 60 hours of undergraduate coursework
Scholarships are also available through a variety of organizations and companies not affiliated with the Illinois MBA.∞ Back to top
- The FMC Educational Fund Fellowship will award nine University of Illinois students $9,000 fellowships this year. Candidates for a Master's in Business Administration or Engineering are particularly encouraged to apply. The FMC Educational Fund Fellowship was established in 1963 by a donation of 15,000 shares of stock in the Link-Belt Company (now FMC Technologies, Inc.) to the University of Illinois Foundation by Bert A. Gayman, an alumnus of the University of Illinois. You can get the PDF with application details.
- Toigo Fellowship is a great opportunity for U.S. minority MBA applicants and current students who are interested in and committed to working in finance. The scholarship is primarily offered to MBA applicants, but the website indicates the possibility of assisting second-year students as well.
- P.E.O. International Peace Scholarship is a great opportunity for qualified international women to receive scholarship to help finance their graduate studies. The P.E.O. Sisterhood is an international organization with broad philanthropic and cultural aims and an interest in furthering educational opportunities for women. It is entirely independent and has no affiliation with any fraternal or benevolent organization. Eligibility must be established before application material is sent to applicants. The eligibility information is available from www.peointernational.org at any time but the completed application will be accepted electronically in the IPS office only between August 15 and December 15.
- NSHMBA which exists "to foster Hispanic leadership through graduate management education and professional development," has established a scholarship program to assist qualified Hispanics to pursue MBAs. Scholarships are offered each year for full- and part-time study at an accredited (AACSB) institution of the student's choice.
MBA LOANS from the Graduate Management Admission Council (GMAC)
Available to all students with U.S. cosigner.→ http://www.salliemae.com/mbaloans
Private and federal loans available to all students with U.S. cosigner→ http://www.accessgroup.org
Free Application for Federal Student Aid (Federal School Code: 001775)→ www.fafsa.ed.gov/
International Student Resources
Institute of International Education→ http://www.iie.org
International Student→ http://www.internationalstudent.com
International Education Finance Corporation→ http://www.iefc.com
International Education Financial Aid→ http://www.iefa.org
Financial Aid for International Students→ http://www.edupass.org/finaid
Global Student Loan→ http://www.globalslc.com/
- → http://www.finaid.org
- → http://www.mba.com
- → http://www.studentaid.ed.gov/guide
- → http://www.scholarships.com
- → http://www.fastweb.com
- → http://www.petersons.com
- → http://www.princetonreview.com/scholarships-financial-aid.aspx
The MBA program does not offer graduate assistantships, but you may learn about other assistantship opportunities on campus by going to the Assistantship Clearinghouse.