When you have to come up with almost $200,000 over two years, there’s no doubt that funding your MBA is of vital importance. Unless you have a spare couple hundred thousand dollars in your pocket, scholarships, loans, grants, and teaching assistantships are necessary to help you graduate with your MBA without swimming in debt. If you’re looking to get your MBA in Los Angeles, there are a few programs that offer the best financial aid assistance, and we’ve outlined those below.
1.UCLA Anderson School of Management
There are numerous ways to financially support your MBA program when you attend the Anderson School. In fact, 75% of MBA students at the School receive some form of financial assistance and 50% receive fellowships. The average cost for an MBA at Anderson is $86,000 a year, so financing is vital.
- Fellowships: The Anderson School offers six unique fellowships. The Merit Fellowship is granted to MBAs based on their application. Donor Fellowships are available to MBAs in their first or second year and can be based on anything from professional development, intended career, community involvement, or financial need.
- Teaching Assistantship: For a less traditional form of financing, the Anderson School offers TA positions for about 16% of their full-time second-year MBA students.
- Outside Funding: Finally, UCLA has connections with a variety of outside funding sources, including but not limited to:
- General: Grants, scholarships, and fellowships are available for Fulbright Scholars, Scottish MBAs, Santa Barbara residents, and more.
- Diversity: African-American, American Indian, Minority, and Latino students have a variety of outside funding sources available.
- Women: Women can choose between two programs to help pay for their Anderson School MBA.
- Industry Specific: MBAs in management consulting, government finance, real estate, and marketing have scholarship opportunities.
- International: International students from a variety of countries including Chile, Australia, Canada, Norway, and more can get free money.
2. USC Marshall School of Business
MBA students at the Marshall School can expect to spent $91,332 their first year and $72,511 their second year of schooling. Due to this high cost, there are several merit-based scholarships for USC Marshall students. All applicants are already considered and will be awarded based on scholastic merit, leadership, work experience and other characteristics. The awards can provide either partial or full-tuition remission. Plus, they are second-year Dean’s Scholarships for outstanding students.
The Marshall School also helps MBAs with several unique funding opportunities:
- Tuition Reimbursement Deferment: If your employer agrees to pay for your schooling at the end of each term, you may be eligible for deferring your tuition.
- Graduate Assistance: Second-year MBA students can become TA’s, which provides tuition assistance.
- USC Payment Plan: Students who do not qualify for loans of financial assistance in the form of scholarships can set up a payment plan, which allows you to pay for your tuition in monthly installments.
3. Pepperdine University’s Graziadio Business School
MBA students at Graziadio School can head to the Office of Financial Aid to learn about all of the financing options available including private endowments, federal programs, and more. There are eight unique scholarships available for MBA students.
- Merit-Based: MBA students are automatically reviewed for their GPA, GMAT, academic achievements, work experience, and leadership to determine if they’re a recipient of a merit-based scholarship.
- Endowed Scholarships: There are seven unique endowed scholarships also for MBA students. Women can apply for the Associated Women for Pepperdine Scholarship. There are also scholarships for active community members, African American students, and students who demonstrate exceptional leadership skills.
The Graziadio School is also connected to a variety of private grants and scholarships for National Italian students, Hispanic students, and more. Also, the School accepts federal student loans, private loans, and International Student Aid.
4. California State University College of Business and Economics
Cal State LA offers over 400 scholarship opportunities for its students. In particular, two scholarships are dedicated to MBA students.
- MBA Student Scholarship: The funding varies and MBAs will automatically be considered based on their general application.
- National Society of Hispanic MBA’s Scholarship: For first year MBA students, it’s dedicated to first-generation college students with financial need.
Graduate students at Cal State also have the opportunity to receive a need-based State University Grant (SUG). The grant gives approximately $6,738 to offset the cost of tuition to graduate students who apply for financial aid.
5. Chapman University Argyros School of Business
At the Argyros School, financing for MBA students is focused on veterans of the military. For example, Chapman University is part of the Yellow Ribbon Program, which awards MBA students up to $6,000 toward tuition and fees. The School also offers the Council of College and Military Educators Scholarship, which is $1,000 for MBAs. For non-military MBAs, students can apply for the Argyros Merit Scholarships or for student financial aid.
If you want to learn more about Financing Your MBA, check out our series on Clear Admit.