scholarships and financial aid
Boston University offers a number of scholarship and 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.
Merit Scholarships for Full-time MBA Applicants
The 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 2007 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.
BU Institute for Leading in a Dynamic Economy (BUILDE) Fellowship
BUILDE is a Boston University-based research collaborative located within the School of Management. It was created to explore the effects of emerging information and related technologies on competitive markets and organizations. Our BUILDE Fellowship provides $4,000 of support in the second year of study for outstanding MS·MBA candidates, and gives them the opportunity to become involved with activities at the research center. 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
This scholarship is provided by Fundación Mexicana para la Educación, la Tecnología y la Ciencia, A.C. (FUNED) and the Boston University School of Management. Boston University will provide a maximum of three scholarships ranging from $16,000 to $35,000 under its agreement with FUNED. All incoming Mexican nationals will be considered for this scholarship by submitting an application for admission. Minimum requirements include the achievement of an 8.0 GPA in the first degree program, a first degree certificate, a minimum total GMAT score of 600, and a minimum TOEFL score of 100 IBT / 250 CBT / 600 PBT or IELTS score of 7.0 overall.
In addition, FUNED will grant "credit-scholarships" covering up to (40%) of the total cost of the masters program (university fees and living expenses) not exceeding the amount of $40,000 for two year courses. To be considered for a credit scholarship selected candidates must present their application to FUNED no later than June 1st.
Financial Aid
Click here to download the Financing Your MBA guide.
Federal Financial Assistance
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. 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. The interest rate is fixed at 5.0%.
To apply for federal financial assistance, you must submit the following:
- Obtain a PIN (Personal Identification Number) from the Department of Education website at http://www.pin.ed.gov. You will need a PIN to complete the FAFSA.
- Complete the 2008-2009 Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. Boston University’s school code is 002130.
- Complete the GSM Application for Federal Financial Aid and submit it to the Graduate Programs Office via drop off, mail or fax. Click here to download the application.
Private Education 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. Click here to download the Alternative Financing Option guide.
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. Click here to download a list of External Resource Websites .
Veterans 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. Click here for the GI Bill website.
