Students today can be admitted to a graduate school with on campus learning in traditional classrooms and lecture halls and even live on campus as residents, or they can join a part-time or full-time MBA program online from anywhere in the U.S. Online attendance can reduce some of the costs of graduate study because students attend class from home. Online students can continue to work at their jobs, operate businesses, and maintain other obligations. They are still required to cover the cost of tuition and fees like other students. Scholarships, grants, and summer fellowships can reduce the out-of-pocket costs for online MBA students. For some students, grants, scholarships, and fellowships can cover all the costs of a master of business administration or even an executive education.
Scholarships, grants, and fellowships are unlike many student loan programs because they do not require repayment. Some federal loans, such as the Perkins or Stafford programs, offer low interest, deferred repayment, and potential for forgiveness to qualified candidates. However, scholarships often have extra benefits and never need repayment, and they can cover nearly every school-related expense.
The MBA is a flexible degree, and schools today offer concentrations that can provide an advantage for jobs after graduation. Among the avenues for scholarships, fellowships, and grants are specific fields of MBA education. Students interested in healthcare, international business, operations management, or other specific studies can seek scholarships aimed at increasing the number of MBAs in that concentration and in the field.