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.
There are many scholarships, however, specifically for veterans interested in pursuing their MBA which can help greatly offset the costs of attendance or even negate them completely.
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.
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 will then be covered by the GI Bill and Yellow Ribbon Program.
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.
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.
These endowments are used by the school 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.
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 a number of other scholarships specifically for veterans, which you can find here.
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 a 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.
Through the 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.
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.