Black MBA Scholarships

The business environment demands staff diversity and innovation, so graduate business schools are seek diverse pools of qualified Black applicants. Unfortunately, all too often, educational costs pose a barrier to completing a Masters of Business Administration (MBA). If you're worried about financing an MBA degree, consider applying for any of the following scholarship programs designed for qualified Black students.
  1. National Black MBA Association (NBMBAA)

    • Since 1970, the National Black MBA Assocation (NBMBAA) has provided scholarships and support to black MBA students. Scholarships range from $1,000-$15,000. Eligible applicants must be an ethnic minority, a member of the NBMBAA and enrolled in a full-time graduate business program in the U.S. or Canada. Applications are evaluated for academic achievement, leadership potential, community service and communication skills.

      National Black MBA Association, Inc.
      180 N. Michigan Ave., Suite 1400
      Chicago, IL 60601
      (312) 236-BMBA (2622)
      nbmbaa.org

    The Consortium for Graduate Study in Management

    • The Consortium for Graduate Study in Management is organized to promote diversity in U.S. business schools. Comprised of leading business schools and corporations, it provides professional development, networking opportunities, and fellowships to cover business school tuition and mandatory fees. In 2009, the consortium awarded more than 330 two-year fellowships that covered MBA tuition and mandatory fees.

      Eligible Black, Hispanic and Native American applicants apply to up to six consortium business schools through a common application. Application fees are tiered based on the number of schools selected. Each business school ultimately makes the final decision on enrollment based on the application, GMAT (standardized test) scores, and professional potential. Admitted applicants are then considered for membership in the consortium. Only consortium members are eligible for the fellowship program.

      Consortium for Graduate Study in Management
      Attention: Recruiting
      5585 Pershing, Suite 240
      St. Louis, MO 63112
      888-658-6814
      cgsm.org

    The Robert Toigo Foundation MBA Fellowship

    • The Toigo MBA fellowship is billed as the only graduate fellowship dedicated to promoting ethnic diversity in finance careers. Fellows join more than 700 Toigo alumni and have broad access to sector leadership and professional development. Selection for the highly competitive program occurs each spring.

      Eligible applicants--ethnic minorities interested in finance careers--are evaluated for leadership potential, commitment to professional excellence, and character. Fellows, who may be enrolledl in a MBA or JD/MBA program, receive a $5,000 merit award and $25,000 in services from the Toigo Foundation. Each year, the Toigo Foundation receives between 250-300 fellowship applications and accepts approximately 50-70 fellows.

      The Robert Toigo Foundation
      180 Grand Avenue Suite 900
      Oakland, CA 94612
      512-763-5771
      toigofoundation.org

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