While business schools often offer scholarship schemes for students from various communities including LGBTQ+ students, there are also independent organizations that grant scholarships for LGBTQ+ applicants in partnership with schools.
So, here are five LGBTQ+ scholarships offered by both business schools and independent organizations that you should be aware of.
5 LGBTQ+ scholarships for business school students
1. Point Foundation Scholarships
The Point Foundation is the largest scholarship-granting organization for LGBTQ+ students in the US. It provides substantial financial assistance, mentoring, and leadership development programs.
The Point Foundation’s Flagship Scholarship started in 2002 with eight participants. Since then, the foundation has invested $60 million in LGBTQ+ and ally students, with over 57% of them being first-generation students.
In 2020, in light of the civil unrest and protests following the murder of George Floyd by a police officer, Point added the BIPOC Scholarship that provides financial support, coaching, and community assistance to LGBTQ+ members who identify as Black, Indigenous, and People of Color.
All Point scholars commit to giving back to the community and receive community service training to help them. Scholars are also required to show evidence of strong academic achievement, and the scholarship is based on financial need.
Eligibility:
- Demonstrated academic excellence, leadership skills, and community involvement
- Identifies as a member of the LGBTQ+ community
2. Edinburgh University Business School - LGBTQ+ Scholarships
i) Positive Action For LGBT+ MSc Scholarship
Edinburgh University Business School offers two LGBTQ+ scholarships, each to the value of £10,000 ($13,700) for entry onto one of its MSc degrees. The scholarships are awarded to candidates who are committed to making a difference to the LGBTQ+ community, especially within the business environment.
Eligibility:
→ Enrolled in an MSc program
→ Demonstrate commitment to the LGBTQ+ community
→ Have not accepted another scholarship from the University of Edinburgh
ii) Somewhere MBA LGBTQ+ Scholarship
In addition to MSc students, the school offers an LGBTQ+ scholarship to its MBA class. The Somewhere MBA LGBT+ Scholarship offers one £10,000 ($13,700) scholarship to a candidate who is committed to making a difference to the LGBTQ+ community, especially within the business environment.
The scholarship, which is designed with the mission to increase the visibility and representation of the LGBTQ+ community in business, also offers the successful candidate mentoring opportunities.
Eligibility:
→ Received an offer to join the eligible program
→ Demonstrate previous commitment to LGBTQ+ community through previous action or support
→ Strong academic credentials
3. ESMT Berlin - Rainbow Scholarship
ESMT Berlin launched its Rainbow Scholarship in 2022 to signal a commitment to creating rich learning environments that actively encourage and celebrate diversity. Each year, two scholarships of €5,000 ($5,800) are available, and special consideration is given to self-identifying LGBTQ+ applicants.
Eligibility:
→ Enrolled in the Full-Time MBA
→ Support the LGBTQ+ community
→ Answered the essay question: How have you contributed to LGBTQ+ causes and impacted the community?
4. Imperial Business School - LGBTQ+ Scholarship
The Imperial Business School LGBTQ+ Scholarship is awarded to students who are part of, or allies to, the LGBTQ+ community and can demonstrate a strong track record of promoting diversity and inclusion.
Recipients—who must be enrolled in an MSc program—receive up to £15,000 ($20,500) in funding. This scholarship is designed to support individuals who are passionate about fostering diversity and driving positive change within the business world and beyond.
Edward Lim, an MSc Business Analytics student at Imperial Business School and recipient of the LGBTQ+ Scholarship, notes the profound impact these types of awards have beyond the recipients themselves.
“I think these scholarships help normalize LGBTQ+ presence in fields where representation is low,” he says. “The most powerful impact is often in representation itself. When a younger queer person sees successful scholars and professionals who share their identity, the message is clear: You are not confined by certain stereotypes from society."
Eligibility:
→ Enrolled in an MSc program
→ Received an offer after Rounds One or Two
→ Submitted the required video assessment
→ Demonstrate a commitment to encouraging LGBTQ+ participation in business education and beyond
5. University of Cologne Business School - Pride in Business Scholarship
The Pride in Business Scholarship is designed to support LGBTQIA+ individuals enrolled in the Executive MBA program at the University of Cologne Business School, empowering them to bring their unique perspectives to the business world.
“At the University of Cologne Business School, we firmly believe that diversity is a vital strength—in society, in business, and in leadership,” says Sabine Kusche, head of Marketing at the University of Cologne Business School.
“The richer and more diverse the group, the deeper the learning—both academically and personally. A heterogeneous cohort enables participants to challenge their perspectives, develop broader leadership skills, and prepare for leading in diverse and global organisations.”
Eligibility:
→ Identifies as a member of the LGBTQIA+ community
→ Enrolled in the Executive MBA program
These scholarships provide critical support for LGBTQ+ business students, alleviating the heavy burden of financial constraints so that students from underrepresented backgrounds can focus on their studies.
As well as the financial benefits and the increased visibility scholarships offer, funding initiatives also foster a sense of community, allowing recipients to build and grow their network, learn from each other, and underscore the importance of diversity in business education.
By leveraging these opportunities, LGBTQ+ students can advance their careers and contribute to a more inclusive and dynamic business environment.
