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Full-Tuition Fellowships – B-Schools’ Best-Kept Secrets

Most of us think that getting a management education simultaneously means earning an MBA and accumulating a large amount of debt in student loans. Inspired by a recent article from BusinessWeek which challenged this notion with a report on full-tuition fellowships, we performed extensive research and data collection on our own and summarized our findings in three segments. Today, we will present key data of full-tuition fellowships from many of the top US management programs including Berkeley’s Haas, Columbia, and University of Chicago. In the next two articles, we will cover major non-US schools.

During your application process, do not overlook these fellowships. Many schools usually require one extra essay or interview to be eligible for a two-year, full-tuition fellowship. The list of fellowships at the schools below may surprise you.

• Virginia Darden
  
  • Number of fellowships awarded to 2008 entering class: 61
  • Average class size: 632
  • No. of fellowships as a % of average class size: 10%
  • How to apply: All admitted applicants are considered. For one fellowship, a separate application is required
• Yale
  
  • Number of fellowships awarded to 2008 entering class: 11
  • Average class size: 180
  • No. of fellowships as a % of average class size: 6%
  • How to apply: All applicants are considered for merit scholarships 
• California Berkeley Haas
  
  • Number of fellowships awarded to 2008 entering class: 14
  • Average class size: 240
  • No. of fellowships as a % of average class size: 6%
  • How to apply: For most of the fellowships, students automatically quality with application. For one particular fellowship, an additional essay is required.
• Columbia
  
  • Number of fellowships awarded to 2008 entering class: About 25
  • Average class size: 722 (Total size for both fall and spring entering classes: 1196)
  • No. of fellowships as a % of average class size: 3%
  • How to apply: Automatically considered with application
• Harvard
  
  • Number of fellowships awarded to 2008 entering class: 25
  • Average class size: 918
  • No. of fellowships as a % of average class size: 3%
  • How to apply: Scholarships are awarded based on financial need. To apply, complete and submit a financial aid application upon admission
• MIT Sloan
  
  • Number of fellowships awarded to 2008 entering class: 10-12
  • Average class size: 375
  • No. of fellowships as a % of average class size: 3%
  • How to apply: Automatic consideration with application
• University of Chicago
  
  • Number of fellowships awarded to 2008 entering class: 11
  • Average class size for full-time MBA program: 550 
  • No. of fellowships as a % of average class size: 2%
  • How to apply: Most admitted applicants are automatically considered at the time of the application, but many have additional required interviews as part of the final selection process. All of the fellowships have a mentoring component.
• Pennsylvania Wharton
  
  • Number of fellowships awarded to 2008 entering class: 10
  • Average class size: 825
  • No. of fellowships as a % of average class size: 1%
  • How to apply: Selection is based on a number of criteria such as personal background, leadership, and integrity. Students who fit the criteria must complete a separate financial aid form.
  • The bottom line is that it is definitely worthwhile to perhaps write an extra essay if it means earning a savings of $200,000 for your education. For many of the fellowships, all admitted applicants qualify.