Tuition, Scholarships and Financial Aid
Boston University offers a number of scholarships and federal financial aid programs to help you pay for your graduate education. Although the benefits are immeasurable, business school is a venture that should be planned carefully and strategically. The long-term financial obligation of your graduate education requires budget planning. The School of Management encourages you to begin preparation far in advance of applying. Our purpose is to help you reach your educational goals by assisting and guiding you through your financial aid process.
Tuition and Scholarship Information can vary by program. Learn more about tuition for:
Full-time MBA Tuition
The following tuition, fees, and other expenses have been established at Boston University School of Management for the 2009-2010 academic year.
| Full-time MBA Tuition |
| Tuition* |
$37,910 |
€27,845 |
£25,031 |
| Fees* |
$486 |
€357 |
£320 |
| Books and Supplies (Estimated) |
$1,574 |
€1,156 |
£1,039 |
| Room and Board (Estimated) |
$11,808 |
€8,676 |
£7,800 |
| Incidentals (Estimated) |
$4,394 |
€3,228 |
£2,903 |
Total Educational Expenses* |
$56,172 |
€41,322 |
£37,124 |
| * Tuition and fees are subject to change without notice; conversions are estimates as of May 11, 2009. |
View additional currencies and current rates.
Massachusetts law requires all students who carry at least 75 percent of the full-time curriculum to have medical insurance. Students who cannot demonstrate coverage under a qualifying medical insurance plan are required to purchase the University's student health insurance plan. The cost of BU Medical Insurance for the 2008-2009 academic year was $1,466.
MS·MBA Tuition
The following tuition, fees, and other expenses have been established at Boston University School of Management for the 2009-2010 academic year. The MS·MBA tuition includes both the full-time tuition as well as tuition for the Summer session.
| MS·MBA Tuition |
| Tuition * |
$37,910 |
€27,845 |
£25,031 |
| Fees * |
$486 |
€357 |
£320 |
| Books and Supplies (Estimated) |
$1,574 |
€1,156 |
£1,039 |
| Room and Board (Estimated) |
$11,808 |
€8,676 |
£7,800 |
| Incidentals (Estimated) |
$4,394 |
€3,228 |
£2,903 |
Total Educational Expenses * |
$56,172 |
€41,322 |
£37,124 |
| * Tuition and fees are subject to change without notice; conversions are estimates as of May 11, 2009. |
| MS
· MBA Summer Tuition |
| Tuition |
$9,472 |
€7,295 |
£6,755 |
| Fees |
$40 |
€31 |
£29 |
Total Educational Expenses |
$9,512 |
€7,326 |
£6,784 |
| **Summer tuition and fees only |
View additional currencies and current rates.
Massachusetts law requires all students who carry at least 75 percent of the full-time curriculum to have medical insurance. Students who cannot demonstrate coverage under a qualifying medical insurance plan are required to purchase the University's student health insurance plan. The cost of BU Medical Insurance for the 2008-2009 academic year was $1,466.
International MBA Tuition
| International MBA - Summer Tuition 2009 - China |
| Tuition * |
$25,124 |
€18,481 |
£16,594 |
| Books and Supplies (Estimated) |
$900 |
€661 |
£594 |
| Room and Board (Estimated) |
$3,624 |
€2,664 |
£2,392 |
| Field Activities (Estimated |
$1000 |
€735 |
£660 |
Total Educational Expenses * |
$30,648 |
€22532 |
£20,234 |
| International MBA Fall 2009 - May 2010 - Boston |
| Tuition * |
$37,910 |
€27,845 |
£25,031 |
| Fees * |
$486 |
€357 |
£320 |
| Books and Supplies (Estimated) |
$1,574 |
€1,156 |
£1,039 |
| Room and Board (Estimated) |
$11,808 |
€8,676 |
£7,800 |
| Incidentals (Estimated) |
$4,394 |
€3,228 |
£2,903 |
Total Educational Expenses * |
$56,172 |
€41,322 |
£37,124 |
| Estimated expenses not covered by tuition/fees * |
Food in Shanghai
Accommodations are service apartments that have a full kitchen and a dining room. Meals are not included |
$1,000 |
€735 |
£660 |
| Break travel and personal expenses |
$2,000 |
€1,470 |
£1,320 |
| Round-trip economy airfare Boston-Beijing; Shanghai-Boston |
$2,000 |
€1,470 |
£1,352 |
Total Educational Expenses * |
$5,000 |
€3,675 |
£3,301 |
| * Tuition and fees are subject to change without notice; conversions are estimates as of May 11, 2009. |
View additional currencies and current rates.
Massachusetts law requires all students who carry at least 75 percent of the full-time curriculum to have medical insurance. Students who cannot demonstrate coverage under a qualifying medical insurance plan are required to purchase the University's student health insurance plan. The cost of BU Medical Insurance for the 2008-2009 academic year was $1,466.
Merit Scholarships for Full-time MBA Applicants
Boston University School of Management offers a variety of merit scholarship programs for qualified full-time students. Applicants are notified of these opportunities in their initial offers of admission. A separate application for scholarship consideration is not needed, and the Admission Committee considers all admitted candidates for merit scholarship awards.
For the Fall 2008 entering class, 75 percent received scholarship assistance with the average award exceeding $19,000 per year. Below is a list of the various awards currently offered by the School of Management.
Dean’s Scholarship
In our effort to attract the highest quality candidates from around the world, the Dean’s Scholarship program provides a minimum of 30 awards ranging from $25,000 to $35,000 per year for candidates with outstanding professional, academic, and personal qualities. Both domestic and international candidates will be considered for these awards.
LEAD Fellowship
Our LEAD Fellowship program seeks to enhance extracurricular involvement at the School of Management by attracting exceptional students who will become the next generation of business leaders throughout the world. This program provides a minimum of 30 awards ranging from $5,000 to $20,000 per year for candidates who demonstrate a commitment to community involvement and a desire to become an active member of the BU community. Both domestic and international candidates will be considered for these awards.
Public & Nonprofit Supplemental Scholarship
The intent of the Public & Nonprofit Supplemental Scholarship program is to limit the financial burden faced by students who seek to use core business management skills to address society's most challenging humanitarian and social problems. This program provides a minimum of 10 awards ranging from $5,000 to $15,000 per year to admitted students of the Public & Nonprofit program. Both domestic and international candidates will be considered for these awards.
MS·MBA Summer Scholarship
Available to outstanding MS·MBA candidates, this program provides supplemental support for the added tuition costs associated with obtaining this joint degree. Support is generally reserved for Dean’s Scholars, and ranges from $5,000 to $10,000. This award is only applicable to the summer semester of the MS·MBA program. Both domestic and international candidates will be considered for these awards.
National Society of Hispanic MBAs (NSHMBA) Scholarship
This scholarship is provided by NSHMBA and the Boston University School of Management to provide greater access to the best in graduate management education for Hispanic prospective students. Boston University will provide a full or half tuition scholarship to be awarded on behalf of the Boston Chapter of the National Society of Hispanic MBAs.
United States citizens of Latin American descent will be given primary consideration for this award, with Latin American citizens being considered on a secondary basis. Candidates will be notified in their admission package, and the National Society of Hispanic MBAs will be notified once the recipient has confirmed his or her intent to enroll at the Boston University School of Management.
FUNED Scholarship for Mexican Nationals
In collaboration with Fundación Mexicana para la Educatión, la Tecnología y la Ciencia, A.C. (FUNED), provides a maximum of three scholarships, ranging from $5,000 to $35,000. In addition, FUNED grants provide "credit-scholarships" covering up to 40 percent of the total cost of the master's program (not exceeding $40,000 over two years).
Federal Financial Aid
To get started, we encourage you to explore the Financing Your MBA Guide (pdf). If you are a US citizen or permanent resident, you are eligible to apply for one or all of the following programs:
Federal Direct Stafford Loan
The Federal Direct Stafford Loan Program provides low-interest loans to US citizens pursuing graduate education. The maximum loan eligibility is $20,500 per academic year and the interest rate is fixed at 6.80%.
Federal Perkins Loan
The Federal Perkins Loan is a low-interest loan awarded to full-time students who demonstrate the highest financial need. The typical award is $3,500 per academic year due to limited funding and the interest rate is fixed at 5.0%.
To apply for federal financial assistance:
- Obtain a PIN (Personal Identification Number) from the Department of Education website. You will need a PIN to complete the FAFSA.
- Complete the 2009-2010 Free Application for Federal Student Aid (FAFSA) online. Boston University’s school code is 002130.
- Complete the GSM Application for Federal Financial Aid (pdf) and submit it to the Graduate Programs Office via drop off, mail or fax.
Private Loans
US citizens, permanent residents, and international students can finance business school with private education loans. US citizens and permanent residents who qualify as creditworthy do not require cosigners. International students, however, must apply with a creditworthy US citizen or permanent resident with a US-based address. For more information about lenders in the rapidly changing loan environment, please visit BU's Alternative Financing Options website.
Private Scholarships
Many state and private organizations offer scholarships to students who demonstrate academic excellence. The Graduate Programs Office encourages you to apply for all external scholarship opportunities. For your convenience we have included a list of External Resources.
Veteran Benefits
Veterans and military personnel are eligible for educational assistance. If you are interested in taking advantage of this assistance, please contact 1-888-GI-BILL (1-888-442-4551) and speak with a Veterans Benefits Counselor or visit the GI Bill website.
