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25 Top MBA Scholarships For Minorities In The USA

These 25 top MBA scholarships for minorities are offered by leading US business schools and provide financial support, leadership training, and more

Wed May 25 2022


More MBA Scholarships for Minorities

19. Robert Toigo Foundation Toigo MBA Fellowship 

Amount: $10,000

The Robert Toigo Foundation supports minority students entering the finance industry. The Toigo MBA Fellowship is available for students enrolled in an MBA program and students from any minority background as defined by the US Department of Labour are eligible. 

Not only does it include funding up to $10,000, the scholarship also guarantees students an internship opportunity and two years of employment after graduation at one of the Foundation’s partners in the finance industry. Successful fellows must commit to two years before leaving their chosen company. The fellowship is available at a number of US business schools, including Georgetown McDonaugh, Wharton, and Vanderbilt-Owen Graduate School of Management. 

20. Posse Foundation Fellowship 

Amount: Full-tuition

The Posse Foundation Fellowship provides a full-tuition scholarship as well as pre-collegiate training to prepare fellows before they arrive on campus. After joining, students also meet regularly with Posse staff and mentors to support them during their experience. 

The Posse Foundation Fellowship seeks to support diversity by awarding scholarships to students from demographics that are underrepresented in schools, across 10 US cities including Atlanta, Chicago, and Boston. Top business schools like Vanderbilt-Owen and Duke Fuqua are partnered with the program. 

 21. Bristol-Myers Squibb Company Scholarship 

Amount: Needs-based 

One of many MBA scholarships for minorities offered by Duke Fuqua School of Business, the Bristol-Myers Squibb Company Scholarship aims to support one minority student each year with an interest in finance. The pharmaceutical company has a number of similar scholarships available across various industries in education. 

22. Galloway MBA Fellowship 

Amount: $50,000

UC Berkeley Haas is home to the Galloway MBA Fellowship, created by Mr Scott Galloway to encourage the children of immigrants to pursue an MBA. As a child of immigrant parents, he benefited greatly from his education and wants to pave the way for future immigrant MBAs. Scholarships are taken from his generous gift of $4.4 million to the business school. 

23. The Hitachi Diversity and Inclusion Scholarship

Amount: Needs/merit based

This need and merit-based scholarship is available at Fordham University Gabelli School of Business for MBA students studying full-time. The scholarship is aimed at under-represented minorities and helps them finance their course and progress in the business world. 

24. P.D Soros Fellowship for New American

Amount: $90,000

The Paul & Daisy Soros Fellowships for New Americans is a program aimed at immigrants and the children of immigrants, to honour their societal contributions by investing in the education of 30 students, who receive up to $90k in financial support over two years.

Paul and Daisy Soros were Hungarian immigrants who were committed to education, American democracy, and philanthropy. The scholarships aim to identify and nurture the most promising new Americans and to help them achieve greatness. In 23 years, they have built a community of over 700 people. 

25. Howard E. Mitchell Fellowship

Amount: Full-tuition  

Dr. Howard E. Mitchell was the second black faculty member to be employed at University of Pennsylvania. Dr Mitchell was a psychologist and expert in organizational behavior, corporate social responsibility, and management of a culturally diverse workforce. 

His dedicated fellowship, awarded by Wharton for MBA students, offers 10 full-tuition scholarships and leadership training to students. The fellowship is aimed towards supporting minority groups including African Americans, Hispanics, American Indians and Women.

This article was written by Matt Kefford and Imogen Brighty-Potts in July 2021 and updated in May 2022

For insider tips on maximizing your MBA scholarship chances, download our BusinessBecause MBA Scholarships Guide 2022 | 5 Ways To Boost Your MBA Scholarship Potential