5 MBA scholarships to top business schools that you can still apply for in 2022

Are you an aspiring MBA? Top MBA programmes receive thousands of applications each year as the ROIs are well documented. They can provide you with the tools needed to take your career to the next level and can qualify you for a range of jobs across different industries.

Top MBA programmes receive applications from people of varied backgrounds, be it young undergraduate students to skilled professionals with several years of working experience under their belt. The degree is still coveted, with many of the world’s top employers — from Google to Amazon and McKinsey & Company — are hungry for MBA graduates. 

Despite its benefits, it is well-known that top MBA programmes typically require students to dig deep into their pockets. The BusinessBecause Cost of MBA Report 2021 showed that the average total cost of studying at one of the world’s top MBA programmes starting in 2021 is US$176,000. The average price of an MBA in 2020 was US$168,000. 

Despite its eye-watering fees, you still have options to make your MBA study dream come true. Here are several MBA scholarships that you can still apply for this year:

Harvard MBA Scholarship

Say the words “top MBA programmes” and chances are, Harvard Business School in the US might come to mind. HBS notes, “While admission is based on merit, financial aid is awarded based on demonstrated need.”

◆ How much does an #MBA cost?
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Your top questions about our #financialaid answered: https://t.co/SPATNFUaZ8 pic.twitter.com/4P8BDtXtKb

— Harvard Business School (@HarvardHBS) July 23, 2020

The Harvard MBA Scholarship is a gift that doesn’t need to be paid back — nearly 50% of the class receives an average of US$35,000 per year in need-based HBS Scholarships. It’s available to both domestic and international students who are encouraged to apply before their admission. 

The application deadline for HBS’ 2+2 programme (a way for current students, either in college or a full-time master’s degree programme, to apply to HBS on a deferred basis) is April 28, 2022. Get more details here.

London Business School Fund Scholarship

What better place to pursue a top MBA programme than in London, a major financial hub? 

The London Business School offers multiple awards for their MBA programme. 

“All successful MBA applicants who have clear academic and professional merit and can demonstrate the ability to contribute to all aspects of the MBA programme,” said the university. “This is the MBA’s largest general group of scholarships and we offer multiple awards per year.” 

London Business School has three application deadlines each year — applications for the August 2022 intake are open. Click here for details on funding.

MBS Scholarships

The Wade Institute notes: “Victoria is Australia’s ‘startup state’ and Melbourne is the heartbeat.”

If you’re looking for a top MBA programme in the Land Down Under, you could consider Melbourne Business School as their MBA programmes will set you on a path of success. 

The school’s scholarship grant covers applicants from all backgrounds under their full-time MBA, Executive MBA and Senior Executive MBA programmes. Click here for details.

We’re reimagining the way we deliver short courses to keep up with learner preferences, based on market insights from @ForethoughtRes. Find out more: https://t.co/hnBVP6McyA pic.twitter.com/B8tNKAa3Wi

— Melbourne Business School (@MelbBSchool) January 17, 2022

HKUST MBA Merit Scholarship

The Wall Street Journal once referred to Hong Kong as the freest economy in the world, and an MBA from Hong Kong University of Science and Technology is sure to shape you for a life of triumphs. 

HKUST Business School offers the HKUST MBA Merit Scholarship that covers up to 100% of tuition fees. And the best part? Admitted candidates are automatically considered for this scholarship — no additional application materials are required. 

Their next application deadline falls on March 9, 2022. Click here for details. 

McGill MBA Full-Time Scholarships and awards

Did you know that Canada was the most-searched destination for studying abroad in 36 countries? If you’re looking for a top MBA programme to pursue in the country, look no further than McGill University in Montreal, Canada.

Canada is known for being student-friendly, and McGill is a high-ranking institution that offers one of the country’s top MBA programmes.

MBA students at the university have access to a wide variety of funding options, including merit-based scholarships and awards. You will be automatically considered for awards unless otherwise noted, said the university on its website. 

Collins Oghor: “#McGill MBA alumnus, doctor, international medical researcher, global health consultant, company owner, fitness buff, world traveler, fashion maven. And 27 years old.” https://t.co/GzNTC0ATyJ pic.twitter.com/M9BKD7QOEW

— McGill University (@mcgillu) July 18, 2019

Among their scholarships include the Tullio Cedrashi MBA Leadership Award, which is awarded to an outstanding student entering the McGill MBA programme who demonstrates strong leadership qualities. It is valued at 10,000 Canadian dollars. The deadline for MBA applications for international students is March 15, 2022.

To explore their scholarships, click here.