Military MBA Scholarships 2023: Top 26 Best Options for Veterans

Scholarships for veterans give a unique opportunity for these heroes to have a smooth landing as they transcend from military life into civilian life. One category of these scholarships includes MBA scholarships. This article will dive into several of these scholarships that are available.

Let us first discuss what an MBA scholarship is and why having an MBA is a great step to a rewarding career for military veterans.

What is an MBA Scholarship?

MBA is an acronym for Master’s in Business Administration. This degree is one of the most sought-after degrees in tertiary education because it is an asset to anyone seeking a job or climbing the career ladder. Most veterans prefer to pursue an MBA degree after discharge from service because their military experience has already earned them impressive life skills that tip them as likely to succeed in business — think leadership, risk management, and problem-solving skills in complex and fast-changing environments. Pairing these great skills with a degree like the MBA makes it easier for career success.

However, MBA degrees are among the most expensive master’s degrees you can find. Let’s set some context. According to the Education Data Initiative, from November 2022, the average cost of an MBA is about $61,800. You will agree that even with programs like the GI Bill and the Yellow Ribbon Program, veterans attending top business schools will find it challenging to cover the financial cost involved in scaling through their education. 

This is the reason Military MBA scholarships are available to help these veterans achieve their goal of attaining an MBA degree. 

List of Military MBA scholarship Available

There are several MBA scholarships that are available for veterans. This scholarship is for any U.S. resident with an undergraduate/bachelor’s degree who has served in the military. Applicants must be prospective MBA students who are seeking admission into one of the member schools

This segment will discuss a few of them you can apply for in 2023:

  1. National Black MBA Association Military Veteran Scholarship

The Ohio State University – Fisher School of Business offers tuition scholarships to qualified members of the National Black MBA Association (NBMBAA). Applicants must be a member of NBMBAA to qualify. This awards is given to a highly talented veteran to help attain educational and career success.

Amount: $50,000

Deadline: December 15, 2023

  1. The Cambridge MBA Scholarship

The Cambridge MBA scholarship is sponsored by Cambridge Judge Business School. The scholarship gives two awards to two qualified military veterans who demonstrate strong leadership abilities. Recipients of this scholarship will become an ambassador for the Cambridge MBA, working closely with the marketing, recruitment, and alumni teams to support and attract future candidates onto the programme. Besides the scholarship, this military-friendly school gives all eligible military candidates a fee waiver to reduce the financial burden of the expensive tuition.

Amount: £15,000

Deadline: Rolling deadline

  1. Bass Military Scholars

The Bass Military Scholars Program sponsored by Vanderbilt University awards scholarships annually to highly talented veterans pursuing graduate and professional degrees across five Vanderbilt schools. Eligible scholars must possess excellent military records, an impressive personal video statement, and a potential to positively impact society after their graduation. These scholarships are given to veterans pursuing their MBA or a degree in law, medical, nursing, and education.

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Amount: $30,000

Deadline: August 1, 2023 – February 15, 2024

  1. Fertitta Veterans MBA Program

The Fertitta Veterans MBA Program sponsored by NYU Stern is a merit-based scholarship program specially designed for US military veterans and active duty students to support their transition to business school. This scholarship is made possible through the generous contribution of the Fertitta brothers. Active-duty and veteran students who gain admission to Stern regardless of whether they participate in the summer session or start in the fall semester, are eligible to be considered for the Fertitta Veterans MBA Scholarship.

Amount: Up to $60,000

Deadline: Rolling deadline

  1. Chicago Booth Scholarships

The University of Chicago booth school of business offers merit-based scholarships to qualified MBA students and fellowships. There is no formal application process for these awards. All applicants who gain admission are considered, and scholars are chosen solely based on the information provided in the application.

Amount: Varies

Deadline: Varies

  1. Katz Military Scholarship

This scholarship automatically considers highly-qualified veterans who gain admission into Katz Business school for a full-time MBA program. Multiple awards are available each year. All applicants interested in this award just have to concentrate on submitting a unique application for admission before the deadline.

Amount: Varies

Deadline: February 1

  1. The University of Virginia Darden School of Business Scholarship

Darden School of Business offers a variety of merit-based and even need-based scholarships for qualified and talented students who gain admission into the school. No additional application is required to be considered for these scholarships. The scholarships range from a modest stipend to full tuition and fees.

Amount: Varies

Deadline: 7 September 2023 – 3 April, 2024

  1. London Business School Military Scholarship

The London Business School offers multiple scholarship awards to all successful MBA applicants who have been employed in a full-time military role in their career so far. Scholars will be expected to take an active role in the Military in Business Club. This scholarship automatically considers all eligible applicants to the school.

Amount: Up to £30,000

Deadline: Varies

  1. Johnson Veterans Scholarship

This scholarship is specifically for eligible veterans who are accepted to the Johnson School of Management. The awards are solely funded by the contributions of the alumni veterans of Johnson school. These alumni veterans show benevolence in their financial support to the school which assists other veterans to gain an MBA degree without financial burdens. 

Amount: Varies

Deadline: Varies

  1. Peter and the Stephanie Nolan Veterans Scholarship

This scholarship is made possible through a generous financial support of nearly $2 million by Cornell Trustee Emeritus Peter Nolan ’80, MBA ’82, and his wife, Stephanie Nolan ’84. This endowment is specially to help the Samuel Curtis Johnson Graduate School of Management to support U.S. military veterans seeking an MBA. The Nolan Scholarship allows the Admissions & Financial Aid office to identify and reward outstanding Veterans who in turn will become an asset to the school.

Amount: Varies

Deadline: Varies

  1. Baylor University Military Scholarship

Baylor University offers military scholarships to active duty and military veterans students entering the Baylor Online MBA program in the Hakamer School of Business. All applicants must present military identification or proof of prior in order to qualify. 

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Amount: $6,000.

Deadline: November 1 every year

  1. Olin Veterans Association Scholarships

Olin Business School offers both partial and full scholarships, fellowships and other necessary assistance to exemplary veterans who are enrolled in any graduate business program in the school. All scholarships, regardless of the amounts, are guaranteed for the two years of the recipient’s program.

Amount: Varies

Deadline: Varies

  1. Fisher International Business School Military Scholarships

Fisher College has been consistently recognized as a Top Military-Friendly institution since 2011. Fisher offers needed support to military and veteran graduate students. Veterans get application fee waivers, in-state tuition and financial aid opportunities. Scholarships for veterans include the U.S. Military MBA Fellowship Fund, the Evelyn Michael MBA Fellowship Fund, and the Van Bloom Family MBA Scholarship Fund.

Amount: Varies

Deadline: Varies

  1. Kelley School of Business Military Service Scholarship

According to U.S. News & World Report, the Military Service Scholarship at Kelley School of Business ranks as one of the top online MBA programs for military veterans. This scholarship program as an appreciation to the service of military servicemen and women, aims to support talented active-duty and military veterans to get their MBA degree.

Amount: Varies

Deadline: Varies

  1. Veterans Business Scholarship

The W. P. Carey School offers this prestigious scholarship fund to reward exceptional veterans who are full-time MBA applicants.

Amount: Varies

Deadline: Varies

  1. The Goizueta Business School Military Fellowship

The Goizueta Business School Military Fellowship in Emory University awards scholarships to one or more current Goizueta MBA active-duty and veteran students. All recipients are entitled to a fellowship and financial stipends. Selected military fellows will formally represent Goizueta Business School in recruiting prospective military students from all services of the active military, Reserves, National Guard, Veterans, and the U.S. Coast Guard.

Amount: Up to $10,000

Deadline: Varies

  1. United States Military Academy Fellowships

Goizueta offers up to three fellowships to One-Year MBA military students serving as admissions staff at the USMA, West Point. Goizueta Business School in collaboration with the USMA sponsors this program.

Amount: Balance of tuition

Deadline: Varies

  1. George Washington University School of Business scholarships 

This business school offers scholarships and other educational benefits to active-duty personnel, veterans, or dependents of veterans. To be eligible, veterans must have completed at least one year of active service in the U.S. Armed Forces, unless discharged under honorable conditions for medical reasons.

Amount: Varies

Deadline: Varies

  1. Gabelli School of Business

The Gabelli School is a prestigious school that ranked No. 21 nationwide in the 2016 Military Times “Best for Vets” list of business schools. It offers scholarships to servicemen and women who want to transition into the business world. 

Amount: Varies

Deadline: Varies

  1. The LunaCap Foundation Scholarship

The LunaCap Foundation gives scholarship awards to Mexicans (born anywhere in the world) or current active military or US Armed Forces veterans to help reduce the cost of Top-Tier MBA programs (such as Harvard, Yale, Wharton, and other eligible schools). The Foundation selects recipients based on their performance and their desire to give back to society and create other opportunities for others.

Amount: $10,000

Deadline: March 31

  1. Wells Fargo Veterans Scholarship Program
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This scholarship gives awards to veterans and spouses of disabled veterans in addition to other military benefits and grants.

Amount: $10,000

Deadline: Varies

  1. The Bill Mulder Scholarship

The Bill Mulder Scholarship is sponsored by the American Warriors Association (AWA) It is an extremely competitive program that offers scholarships to qualified veterans based on financial need. It aims to offset tuition costs per year to association-approved Universities or to any top 10 University MBA, Law, or Medical program in the nation. The Association expects each recipient to volunteer their time and resources in the future to other non-profit organizations or educational institutions in order to help others in their local community.

Amount: $15,000

Deadline: Varies

  1. Military Benefit Association Scholarship Program

The MBA Scholarship Program is a member benefit designed to assist MBA members, veterans, and their loved ones with college expenses. Applicants must have a 2.5 grade point average on a 4.0 scale or its equivalent. 

Amount: Varies

Deadline: Varies

  1. Cranfield Military Scholarship

This scholarship is specifically designed to help UK nationals with military experience to advance their careers in the business world.

Amount: Up to £20,000

Deadline: Varies

  1. Rice Business School Military Scholars Program 

The Military Scholars Program provides scholarship awards to active or veteran members of one branch of the United States Military. The financial aid covers full tuition and a generous living expense stipend for selected applicants who desire to pursue a Rice MBA degree. There is no separate or formal application for this scholarship. Interested applicants need to submit the standard Full-Time Rice MBA online admission application by the Round 2 deadline.

Amount: Full tuition

Deadline: October 13, 2023

  1. Carlson School of Management Military Scholarship

The Carlson School of Management is a military-friendly school that offers various scholarship opportunities for military veterans. To be automatically considered for these scholarship awards, applicants have to enroll in one of the following programs: Full-Time MBA, Part-Time MBA, Online MBA, or MS in Supply Chain Management. 

Amount: From $1000 to full tuition

Deadline: Varies

Conclusion

MBA scholarships are unique opportunities for veterans to transform their lives and society. Many schools and organizations offer these scholarships to nicely position these veterans and give them a stepping stone to greatness in the business world.

This article has dived into various MBA scholarships available for veterans. We recommend that you do your adequate research on these individual scholarships and put in your absolute best as you apply accordingly. We wish you the best in your academic pursuits.

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