Top Latinx MBA Scholarships
Although the Latinx community make up almost a fifth of the US population, just 4 percent are in executive or senior level positions. Business schools are working hard to boost the representation of Latinos in business, offering a range of MBA scholarships for minority students that help remove the obstacle of high tuition fees.
For prospective students, here some of the top Latino MBA scholarships that will help you finance your studies, offered by business schools and independent organizations.
Top Latino MBA scholarships offered through business schools
Georgetown University McDonough School of Business
Georgetown McDonough offers a merit-based grant called the Modus Create Endowed MBA Scholarship. The goal of the scholarship is to develop the Latin American workforce by supporting international full-time and Flex MBA students. The scholarship is particularly aimed at veterans from Puerto Rico, Brazil, Colombia, and Mexico.
Georgetown McDonough also offers the Fund for the Development of Human Resources (FIDERH) to finance graduate studies for Mexican students. To be eligible, students must have a bachelor’s degree with a minimum 8/10 GPA. FIDERH loans students around $10,000 every year to pay for tuition fees, living, and insurance, without interest.
The Foundation for Education, Technology and Science (FUNED) is also targeted at Mexican citizens with a bachelor’s degree with a minimum 8/10 GPA. The scholarship provides an up to US$15,000 loan, which students can pay back within five years.
Harvard Business School
Harvard Business School offers students Government Finance Officers Association (GFOA) Scholarships. To be eligible, you must be pursuing a career in state and local government finance. Awards range from US$5000 to US$20,000.
Recently, the Dean’s Anti-Racism Taskforce is also working on Harvard’s RISE Fellowship. This scholarship aims to support students who have demonstrated a strong commitment to serving Black, Hispanic, Latinx and other underrepresented minorities.
Ohio State University, Fisher College of Business
Like many US business schools, Ohio State University’s Fisher College of Business is partnered with both Prospanica and the Association of Latino Professionals for America (ALPFA) to provide scholarships to their Latinx students (see below). If you have an average GPA of 3.0, you’re eligible to apply for the ALPFA Scholarship. The needs-based scholarship can provide you from US$1,250 to US$10,000.
The LatAm Business Technology Scholarship also gives Latino MBA students US$1,000 in funding. It’s particularly aimed towards students with an interest in technology.
Wharton School at the University of Pennsylvania
The Wharton School’s Howard E. Mitchell Fellowship is awarded to 10 MBA students in traditionally underrepresented groups, who receive full tuition, leadership training, and the opportunity to join a network of Mitchell Fellows and alumni. To be eligible, graduates must show evidence of past leadership and strong commitment to empowering minority communities.
MIT Sloan School of Management
Recently, the Hispanic Business Club (HBC) at MIT Sloan created the ‘More than Ready’ Pre-MBA Scholarship. These micro-scholarships are aimed at Hispanic and Latinx applicants who are dissuaded from enrolling due to application fees and other costs related to the process.
Alongside this, the school also offers students the Lemann Education Fellowship. The fellowship gives special preference to master’s students from Brazil or students from any country, who are working to further education in Brazil. If awarded, you can secure a scholarship award of US$60,000.
Top Latino MBA scholarships offered through organizations
To qualify for Prospanica Foundation scholarships, you must be a US citizen with Hispanic or Latinx heritage and have a strong GPA and/or professional work experience.
Students can receive up to US$5,000 but must be members of Prospanica to receive the scholarship. Business schools across the United States such Kogod School of Business, American University, Georgetown University McDonough School of Business, Kelley School of Business at Indiana University, the Fisher College of Business at the Ohio State University, Jones Graduate School of Business at Rice University, and the McCombs School of Business at the University of Texas Austin are partnered with Prospanica to offer their Latinx and Hispanic students these MBA scholarships.
The Robert Toigo Foundation
To be eligible for the Toigo fellowship, you must be an MBA candidate from a minority background who is committed to a career in finance. This includes both traditional and alternative finance courses like asset management, real estate, or consulting. You must be a US citizen, and you must have been accepted into a two-year MBA program.
After receiving the grant, students can gain up to US$10,000, an internship opportunity, and two years of guaranteed employment after their MBA at one of the Foundation’s financial partners.
Consortium for Graduate Study in Management
The Consortium for Graduate Study in Management offers scholarships for both Latinx and Hispanic Americans, with full-tuition scholarships available based on merit.
To be eligible, prospective scholars must show a commitment to the organization’s mission. This includes participation in campus events that align with the organization’s values, professional experience working to boost representation, or life experience that highlights your commitment.
As a member, you’ll be able to join a community with more than 80 corporate partners, where you’ll be able to receive career advice and networking opportunities during the annual Orientation Program.
The Cesar Chavez Foundation
Created in partnership with PepsiCo, the PepsiCo Cesar Chavez Latino Scholarship Fund provides US$300,000 in scholarship awards to qualified Latino students across Arizona and California.
The Foundation supports 10 scholarships at US$5,000 per student annually, granted based on financial need, academic excellence, leadership in extra-curricular activities, and commitment to volunteering in the community.
Business schools across the US partner with these external organizations to provide scholarship opportunities for Latino MBA students.
Earning your best GMAT score can help you stand out for Latino MBA scholarships
To land one of these sought-after scholarships and fellowships, you’ll typically need to have an impressive academic background. It’s also important to be aware that taking the GMAT exam is a prerequisite for many scholarship opportunities—having a strong GMAT score will stand you in good stead.
One size does not fit all when it comes to GMAT exam prep. In less than a minute, find out which GMAT Official Prep fits your personal study style and exam score goals by taking our quiz.