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MBA Scholarships and Tuition Funding for Veterans

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MBA Scholarships and Tuition Funding for Veterans

Pursuing an MBA after the military is a natural option for veterans.  Veterans have experience in leading teams, managing risk, and problem-solving in complex environments.  Pairing these skills with a high-powered degree like an MBA can provide veterans with a bright career trajectory after they leave the military.

But MBAs are notoriously expensive. The average MBA candidate can expect to shell out over $200k for an MBA from a top program.  Even with the GI Bill and a match from the school via the Yellow Ribbon Program, veterans attending top business schools can still have a significant deficit in funding.

List of MBA Scholarships for Veterans

There are many scholarships specifically for veterans interested in pursuing their MBA, which can help greatly offset the costs of attendance or even negate them entirely.

Going to get your MBA can be a great choice. There are many amazing MBA programs out there. As you are looking at where you want to go to school, you may be wondering how you can pay for your college experiences. Here is a list of scholarships for those going for their MBA, as well as some school-specific scholarship options.

Mary Elizabeth Lockwood Beneventi MBA Scholarship

One recipient,  $2,000

Details: This scholarship is for a $2,000 scholarship for a student attending graduate school full-time at an accredited college or university and majoring in business administration.

Deadline: February

Website for more information and to apply for this scholarship: link


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Foster G. McGaw Graduate Student Scholarship

Multiple recipients,  $5,000

The Details: This scholarship is from the Foundation of the American College of Healthcare Executives.

The scholarship is for tuition and expenses. Students must be in a full-time healthcare management graduate program, getting an MHA, MPH, or MBA in Healthcare Administration. Applicants who are student associates of ACHE have preference and this award and is based on financial need.

The Deadline: March

Website for more information and to apply for this scholarship: link

Minorities in Government Finance Scholarships

One recipient, $10,000

The Details: This scholarship is from GFOAs executive board for full-time or part-time graduate or upper-level undergraduate students. Applicants must be studying public administration, governmental accounting, finance, political science, economics, or business administration.

The Deadline: January

Website for more information and to apply for this scholarship: link

Ritchie-Jennings Memorial Scholarship Program

Multiple recipients, $1,000-$10,000

The Details: This scholarship is for those seeking careers in fraud examination. Awards will be in the amount of $1,000 to $10,000. Scholarships include a one-year ACFE student associate membership. Applicants should have a major or minor in accounting, business administration, finance, or criminal justice and “demonstrate a desire to pursue a career” in fraud examination or a similar anti-fraud profession.

The Deadline: February

Website for more information and to apply for this scholarship: link

>>See our scholarship section on CollegeRecon for more major-specific scholarships or scholarships for veterans, military spouses, and Gold Star Families.


School-Specific MBA Scholarships for Veterans

Vanderbilt University: Bass Military Scholars

This program provides eligible veterans at the Owen Graduate School of Management with $25,000 per year for the cost of attendance. Additionally, those who are selected for the scholarship will get the opportunity to share their military experiences in campus-wide events.

The intent of these activities is to foster greater understanding between civilians and those with military experience on the Vanderbilt Campus.

These scholarships are not just offered to those pursuing their MBA, but also to veterans at the law, medical, nursing, and education schools.

Vanderbilt University Profile


>> For more MBA and Business scholarships for military & veterans, please use the CollegeRecon Scholarship Finder.

New York University- Fertitta Veterans Program

Through a generous $15 million endowment from a pair of brothers, NYU funds the Fertitta Veterans Program. This program is meant to reduce the cost of tuition down to a rate which the GI Bill and Yellow Ribbon Program will then cover.

For eligible veterans, this can provide them with a top-ranked MBA at little to no cost. Veterans in the state of New York are also eligible for additional funds through the state.

Beyond the money, the program also provides unique networking and career development opportunities for veterans in the program. This assistance, paired with the funding of the MBA, makes the Fertitta Veterans Program an extremely attractive option for veterans interested in pursuing an MBA.

NYU Profile

University of Chicago

The University of Chicago Booth School of Business is routinely one of the top-ranked business schools in the country. Two successful alumni of the school generously provided $10 million endowments specifically for military veterans.

The school uses these endowments to help offset the costs veterans may have after the GI Bill and the $30,000 match the school provides through the Yellow Ribbon Program.

University of Chicago Profile

Katz Military Scholarship- University of Pittsburgh

Veterans who are admitted to the full-time MBA program at the Katz School of Business are automatically considered for the Katz Military Scholarship. Additionally, the school offers several other scholarships specifically for veterans, which you can find here.

University of Pittsburgh Profile

University of Virginia

The University of Virginia Darden School of Business is both a top MBA program and a great place for veterans.

As a public school, they offer great value to veterans looking to maximize their GI Bill benefits while earning their MBA.  Beyond the GI Bill and Yellow Ribbon Program, the school has a number of veteran-specific scholarship opportunities to help fund your education.

University of Virginia Profile

Cornell University

Through the Johnson Veterans Scholarship and Peter and the Stephanie Nolan Veterans Scholarship, veterans who are accepted to the Johnson School of Management can access additional money to offset the cost of their MBA.

Along with these scholarships, veterans at Johnson can access a number of veteran-specific scholarships from the state of New York.

Cornell University Profile

London Business School

US veterans may not think of using their GI Bill at international schools, but they absolutely can.

The London Business School offers veterans the unique opportunity to take their international experiences and apply them while earning an MBA from a world-renowned business school with other candidates from across the globe.

Their program offers five scholarships every year for all military applicants, each worth up to $36k, regardless of which country they served.


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About the author

Lori Waddell serves as Co-director of an emergency response COAD in Montana, a freelance writer, and an Air Force Key Spouse. She is passionate about empowering communities and individuals through knowledge and resources. She currently lives in Montana with her husband and two children.