15 MBA Scholarships for Minorities 2025

Among Fortune 500 companies, only 1.6% of CEOs are Black and 3.2% are Hispanic. Minority students often face hurdles on the road to completing an MBA, but finances don't have to be one of them.

Minority MBA students have plenty of options for financial aid. MBA scholarships for minorities include programs for African American men and women, Latinx, and Native American students. The financial support offered through these scholarships can open up incredible opportunities for career and personal growth.

Many MBA scholarships for Black students are offered through the NAACP, lifting the financial burden of completing your master's degree. Hispanic Americans and Native American students can also research various MBA scholarships for minorities to see what programs best fit their needs.

Top MBA Scholarships for Minority Students

From MBA scholarships for Black students to fellowship programs to elevate women in business, there are dozens of opportunities for minority scholarships. Read through our list below to see if one of these programs can help you achieve your goal of attending graduate school.

1. Bridging the Dream Scholarship for Graduate Students

Students attending an accredited MBA program, either part-time or full-time, can apply for the Bridging the Dream scholarship. You must have a 3.0 GPA, be a legal U.S. citizen or permanent resident, and have a financial need.

The foundation is looking for students who can demonstrate ''good moral character'' in every aspect of their lives, from education to community engagement. Applicants should submit a two-minute video explaining a unique passion that encourages them to excel, and how they believe this will help them in the future.

Deadline: April 25, 2025

Award amount: $10,000

2. Prospanica Scholarship

The Prospanica scholarship hopes to empower the next generation of Hispanic leaders to create meaningful change in both the business world and the community as a whole. The scholarship fund is open to Latino students attending an accredited business school in the United States or Puerto Rico. Applicants must have a Prospanica membership as they will apply with their member ID.

Winners will be notified in July, and funds disbursed in September. Past scholarship winners can still reapply if they meet qualifications.

Deadline: April 26, 2025

Award amount: $5,000

3. Michele L. Durant Scholarship

Students looking for MBA scholarships for Black women should apply for the Michele L. Durant scholarship. It aims to help Black women complete their degrees and open up paths to meaningful change�without carrying around student debt. The scholarship fund is open to Black students who identify as female. You must have a GPA of 2.5 or higher, and funds can be applied to trade school, undergraduate programs, or graduate programs.

Deadline: May 15, 2025

Award amount: $2,000

4. Agnes Jones Jackson Scholarship

The NAACP offers one of the MBA scholarships for African Americans looking to advance their career and make a difference in the world. Applicants must meet the following qualifications:

• a member of the NAACP
• Black or African American
• under age 25 when they submit their applications
• attend an accredited college or university in the U.S.
• have a GPA of 3.0 or higher, show financial need
• a U.S. citizen

This scholarship is non-renewable. Results will be emailed to all applicants by the summer of 2025.

Deadline: April 11, 2025

Award amount: $2,000

5. Jacques Avent Scholarship

Another of the best minority scholarships is the Jacques Avent scholarship, offered in partnership with the National Forum for Black Public Administrators. It is open to Black graduate students with a minimum GPA of 3.0. Students must be pursuing a degree in public administration or policy, political science, urban planning, or public affairs at an accredited Arizona college or university to be eligible for this scholarship.

Deadline: April 15, 2025

Award amount: Varies

6. Native American Scholarship - Tribal Nations Scholarship for Non-Illinois Residents

American Indian students attending graduate school at the University of Illinois Urbana-Champaign can pay the in-state tuition rate�even if they are not residents of Illinois�through this scholarship program. Applicants must submit the FAFSA and be a member of a Tribal Nation recognized by the Bureau of Indian Affairs. Applications should be submitted by March 15, but the organization will continue to grant funding until it runs out.

Deadline: March 15, 2025, for priority consideration

Award amount: In-state tuition rate

7. Whitney Young Junior Fellowship

Graduate students at Boston University can have their tuition covered in full by the Whitney Young Junior fellowship. Students cannot apply for this grant themselves; all materials must come from the department or program director. Accepted fellows will receive one year of college tuition, a $30,000 stipend for living expenses, coverage for various school fees, and basic student health insurance. The application must include a transcript, resume, essay outlining the student's commitment to social justice, and other materials.

Deadline: February 28, 2025

Award amount: Full tuition

8. Make It So Foundation Scholarship

This needs-based scholarship was established in 1999 and is open to Native American students who have completed one semester of college and are returning to school. Applicants must be attending grad school full-time at Arizona State University, Northern Arizona University, or the University of Arizona, and must be either Native American or native Hawaiian. Students must demonstrate financial need when applying.

Deadline: April 15, 2025

Award amount: Varies

9. National Coalition of 100 Black Women, Inc. Oakland Bay Area Chapter (OBAC)

The National Coalition of 100 Black Women is a nonprofit that empowers girls and women in the Black community. Their scholarship is open to female graduate students who attended high school in the Bay Area of California, as well as working women attending grad school. It is a great option for MBA scholarships for African American women.

Your application essay should address your academic achievements and community service, as well as financial need and leadership experience. Women pursuing their first degree are given higher priority.

Deadline: April 26, 2025

Award amount: Varies

10. National Black MBA Association Scholarships

The National Black MBA Association is committed to encouraging both academic and professional growth in Black business leaders. They offer several scholarships for those pursuing an MBA degree, building the leaders of tomorrow by giving over $2.5 million in higher education funding each year. The highest award is for $50,000 and is offered through Emory University. Other scholarships range from $2,500 to $5,000.

Deadline: Varies

Award amount: Varies

11. Government Finance Officers Association Scholarships

The Government Finance Officers offer several financial assistance scholarships for minorities pursuing a graduate degree. Totals range from $10,000 to $30,000. Each scholarship has its own specific requirements, but all applicants must be residents of the United States or Canada, plan to pursue a career in government finance at the state or local level, and provide a letter of recommendation. Past winners cannot reapply for a scholarship.

Deadline: Varies

Award amount: $10,000 to $30,000

12. Lunacap Foundation

Lunacap offers one of the MBA scholarships for Hispanic students, but it is also open to others with financial need. Active-duty military members, veterans, and students of Mexican descent who are starting their first year at one of 19 top business schools can apply. As part of the application process, students must submit one essay outlining their plans for after they finish business school, and another on how they plan to help others who come after them. Each year, 10 scholarships will be awarded.

Deadline: March 31

Award amount: $10,000

13. Consortium Fellowship

The Consortium is a nonprofit that partners top business schools with corporations, aiming to elevate underrepresented minorities in entrepreneurship. Each year they recruit around 500 students to become fellows; these fellows apply for their chosen MBA program through the Consortium and can receive steep discounts, even up to full tuition.

Applicants must be U.S. citizens, permanent residents, or DACA recipients, show a commitment to the Consortium's mission, and hold a bachelor's degree. Part-time and online MBA degree programs are not supported.

Deadline: October for the first round, January for the second round

Award amount: Up to full tuition

14. Forte MBA Fellowships

One of the best MBA fellowship programs for minorities is the Forte MBA Fellowship. Forte's goal is elevating women in business, and to that end they have awarded over $475 million in financial assistance since launching. Fellows will have access to leadership conferences, mentoring, and other professional development opportunities.

Applicants should apply to one of dozens of Forte-partnered schools; after they are accepted, students will be considered for scholarship opportunities as well as admittance as a Forte fellow. The fellowship is open to students of any ethnicity or gender identity.

Deadline: March 24, 2025

Award amount: Varies

15. Knight Hennessy Scholars

Students enrolled in one of seven Stanford graduate schools can apply to be Knight Hennessy scholars. This program provides total funding for three years of any graduate degree at Stanford. Funding may cover full tuition and fees, living and academic expenses, and travel or relocation stipends.

Applicants can be of any age or nationality and apply to any Stanford school. The only requirements are that the applicant be accepted into a full-time Stanford graduate program, and he or she must have received a bachelor's degree after 2018.

Deadline: October 9, 2024

Award amount: Full tuition

FAQs About MBA Scholarships for Minority Students

With so many MBA scholarships available for minority students, you may still have a couple of questions about eligibility and enrollment. Take a look below for answers to some frequently asked questions.

Are There MBA Scholarships for Black Students?

Yes, there are MBA scholarships for Black students. Many are offered through the NAACP, but others are offered through nonprofits like the National Black MBA Association. Black students who apply for the Agnes Jones Jackson scholarship can receive $2,000 per year in financial aid.

Are There MBA Grants for Minorities?

Minority students of many ethnicities and backgrounds, in some cases including international students, can receive grants to help cover the costs of completing an MBA. The Prospanica scholarship offers up to $5,000 to Hispanic students, while the Tribal Nations Scholarship provides in-state tuition at the University of Illinois Urbana-Champaign.

Can You Get a Full Scholarship for an MBA?

There are programs and fellowships that offer full tuition to minorities working on their MBA. The Knight Hennessy scholars will pay full tuition to select Stanford graduate students. The National Black MBA Association also offers a $50,000 scholarship, which will cover many educational costs.

Earn Your MBA

Future entrepreneurs of any gender and race have plenty of great opportunities for financial aid. If you see a scholarship that you are ready to apply for, then reach out to one of the business schools featured on Learn.org to discuss your educational and financial goals.