QS News: MBA Scholarships for Women

Here is the link to the actual article: QS Top MBA - MBA Scholarships for Women
If you go to that site, you'll be able to find links to other scholarships available (and not just for women).

If you'd rather not click to the site, below is the article in full.

Words of advice: For women, do check out the list of schools where Forté Foundation funding is available. These are grants that are exclusively available to women. I got one of these myself, though I'm not exactly sure how my school allocates them - the donor I wrote my thank-you letter to was not the Forté Foundation.


---------------------------------------------------------------------------------------------------------------------


The disproportionately small number of women in leadership roles globally is one of the major challenges for the world’s top business schools, given their essential role in producing the world’s future leaders. However, boardroom imbalance is reflected in business school cohorts, with the vast majority of the world’s business schools still a long way from achieving a 50/50 balance.

Many top schools are moving to address the issue. One key way of doing this is through the provision of merit-based MBA scholarships for women, to encourage exceptional female candidates to enroll on MBA programs and gain the leadership skills they need to advance in the world of business.
This is by no means a comprehensive list of schools offering MBA scholarships for women – indeed, it is only intended to serve a snapshot. Check school websites for details of what MBA scholarships for women are available at schools in which you are interested (see a full list of schools at which Forté Foundation funding is available).

The following schools offer need and/or merit-based scholarships to all or specific demographics of candidates that are open to male and female candidates which may also be appropriate to your needs. The following list looks only at scholarships available exclusively to women.
 
North America

Chicago Booth

At Chicago Booth a number of MBA scholarships for women are on offer: Herman Family Fellowships are intended to encourage female entrepreneurship (US$50,000), the India Trust Fellowship (two awards of US$10,000) is open to candidates living and working in India at the time of admission and Wallman Fellowships are aimed particularly at female candidates from underrepresented minority groups (full tuition for two years). Forté Foundation Fellowships are also available to female students of Chicago Booth.

Thunderbird School of Global Management

The Thunderbird School of Global Management's Women in Leadership Scholarship offers US$5,000 to female candidates.

Yale School of Management

As well as participating on the Forté Fellows program, female students of ‘particular promise’ at the Yale School of Management are eligible for the Janet "Ginger" Gelb Scholarship.

Europe

London Business School

London Business School offers a number of merit-based MBA scholarships for women. All successful female applicants are automatically considered for the London Business School Women's Scholarship (first-year fee), the Carlsson Family Scholarship (£20,000), and Forté Foundation Fellowships (two awards of £20,000). UK residents or nationals are automatically considered for the Lloyds Scholars MBA Scholarship for Women (four awards of £30,000) and may apply for the Celia Atkin Avent Scholarship (first-year fee).

INSEAD

INSEAD states a commitment to a world where 50% of managers are female. Accordingly a number MBA scholarships for women are available at the prestigious school: INSEAD Alumni Fund Women's Scholarships (up to €15,000), Forté Foundation Fellowships (two awards of €15,000), Groupe Galeries Lafayette Endowed Scholarships for Women (€10,000 with preference to those from regions in which the Groupe Galeries Lafayette operates or will operate), and Judith Connelly Delouvrier Endowed Scholarships (up to US$15,000). Scholarships are generally open to candidates at all INSEAD campuses. Candidates win the awards by writing set short essays.

Asia
Many top Asian schools have scholarships to promote female leadership. These include the Women Leadership Scholarship at CEIBS, the Scholarship for Women with Impact at HKUST (up to five merit-based awards for 25% of tuition), the Women-In-Business Scholarship at NUS.

QS Scholarships
QS also offers a number of scholarships, both independently as part of its business mission and in conjunction with top schools around the world. Two schools offer MBA scholarships for women through TopMBA.com:

EDHEC Business School

The EDHEC Scholarship for Women offers €19,000 to three women who attend QS Women in Leadership Events in New York or Toronto. To win, applicants must write a short essay about the challenges they face as a woman in the workplace, or whether they are in favor of quotas in the workplace. The deadline is May 14.

IE Business School

The IE Business School Scholarship for Women, is worth €22,500 to the two winners. To win, applicants must write an essay on technological initiatives that can promote female leadership. The deadline is May 31.

Emergency Student Fund for US-based Students from the Philippines

A kababayan student out there may need this:

Application Deadline: Dec. 4, 2013

IIE is issuing a call for nominations from U.S. colleges and universities that currently have students from the Philippines enrolled on their campuses who have emergency needs for funds due to of the financial situation in their home country caused by typhoon Haiyan. Philippines-ESF will provide grants of $3,000 each to selected Filipino students nominated by their U.S. host colleges and universities. Priority will be given to undergraduates and to those with the most urgent financial need and those closest to graduation.

Allan E. Goodman, president and CEO of the IIE, said, "Our goal is to help relieve the financial burden that is compounding these students' personal distress, and to encourage them to complete their U.S. studies so they can return home with the skills and new knowledge to help rebuild their shattered communities."

International Student Advisers or other campus officials should complete the Philippines-ESF nomination form and e-mail it to ESF@iie.org by December 4, 2013. Awards will be announced in mid-December. Applications directly from students will NOT be accepted. U.S. host campuses nominating students for Philippines-ESF awards are expected to provide some emergency assistance to the nominated students, through tuition waivers, full or partial scholarships, housing, stipends, loans, work study, or other forms of support.

IIE’s Emergency Student Fund provides grants to post-secondary students matriculated at accredited educational institutions outside their home countries whose sources of support have been impacted by natural disaster or other crises. Since 2010, IIE’s ESF has provided over $1 million to more than 400 students from Syria, Iran, Japan, Haiti, Libya, and Thailand whose home sources of financial support were impacted by crisis or natural disaster.

First Year Spending

The chart, as promised:

Now, I have a partial fellowship and have low living expenses. With the fellowship, I was able to nearly halve the school's projected budget. Tuition took up 41% of my budget, while room and board took up 22%. (When I say room and board, I mean rent and food expenses.) I even ended up with a significant amount of savings that automatically go towards initial expenses for internship relocation, and the next schoolyear's budget.


If I didn't have the fellowship:

Without the fellowship, tuition would've taken up 70% of the school's projected budget. And I couldn't afford that at all, so I wouldn't even be here writing this.


So if your MBA school's budget for the year is around 100,000 and it's halved because of the fellowship (for easier estimation), the tuition I paid for my first year would amount to $23,000. With a Php 43 exchange rate, that's nearly Php 1 million. Php 989,000 to be exact.

That's a lot of money to come up with on your own, but could be attainable if you have a high-paying job where you've worked for several years. But that's just your tuition. You still need money for the basic stuff -- remember food, clothing and shelter?

I guess when you're doing your research on the schools, you can come up with scenarios with regards to your fellowship. What if you get a $20,000 fellowship? What if it's half the tuition fees? What if it's 75% of the tuition fees? Can you afford what's left? What fellowship amount will enable you to accept a school's offer? If you don't get that (partial) amount, then flex your negotiation skills and ask. What if a lower-ranked school gives you a full ride?

Just don't think that it will be easy for you to land a full scholarship on account of your nationality. Save early and invest your money wisely. Know what level of debt you're comfortable with. (I have low debt tolerance myself.) Ask the MBA students of the schools you're interested in how they handled their finances. (There usually are links on the school's website; if not, then ask the admissions officer if you can correspond with a student.) Make sure that you run through best-case and worst-case scenarios in your mind before making financial commitments.

Negotiate your MBA offer!!!!

I cannot stress that enough.

I wish someone told me that back when I was considering accepting my offer. I mean, there's nothing to lose, right? If your school gives you that offer letter, along with the partial fellowship amount, and you really, really need breathing room, then ask for a higher offer. (I'm telling you right now that if you'll be asking for a full ride, you'll be rejected. Dream on, dude!)

But you can ask for $5k more. And maybe get $3k more. Something like that.

It doesn't hurt to ask.

It also doesn't hurt to say that you're considering this other school who gave you a better offer. 

Of course, state the reason why you're asking for the higher amount. And thank them, even if they cannot give you a raise. Hopefully, you're being honest -- and not just duping the school (and a more deserving classmate) of fellowship money.

Why I am giving this advice? Because I had a classmate who bragged about how he was able to raise his fellowship amount this way. I, on the other hand, was too giddy about landing the fellowship that I didn't bother to ask for more.

Top B-Schools for Scholarships

In case you missed it, here's the link to Bloomberg BusinessWeek's MBA rankings on scholarships:

Top B-Schools for Scholarships

As you probably know by now, when business schools tell you about their financial aid package, they don't necessarily mean free money. Loans usually form a large part of the (if not the entire) financial aid package. But the above link lists top schools that dole out fellowships and scholarships to their students.

A shortlist:
1. University of Notre Dame - Mendoza
2. Indiana University - Kelley
3. Stanford
4. Harvard
5. Cornell
6. UNC Chapel Hill - Kenan-Flagler
7. University of Virginia - Darden
8. UCLA - Anderson
9. University of Michigan - Ross 
10. MIT

In the University of Notre Dame, 65% of students receive scholarships, with an average amount of  $25K. That's a really good deal, considering that it covers nearly 60% of the tuition fee.

Giving Thanks

It's nearly finals season once again and we are gearing up to finish this week's cases, assignments and presentations to start studying for the exams. Winter break is on the horizon and everyone's looking forward to a month of vacation!

Thanksgiving has come and passed; there was a Thanksgiving lunch buffet at school (only $5!) and dinner at one of the homes of my Filipino friends living here. Aside from turkey, there was a lot of ham, which I like so much better! Maybe because it's my comfort food at home. Thanksgiving saw us having nearly a week off from school and searching for bargains during the Black Friday sale, but a particularly difficult midterm exam was waiting for us on Cyber Monday. Haaay.

Anyway, on the theme of Thanksgiving, here's a short list of what I'm thankful for thus far:

Image from thankyoupictures.com.

1. My part-time job
I'm really grateful for my part-time job at the library, which gives me much-needed income while I'm here. It pays higher than minimum wage (but not much more) and gives me opportunities to earn more than my current shift allows every now and then. I can study when my shift turns out pretty quiet, and the librarians are always ready to help. I also meet different people who aren't in the MBA program, and the work gives me practice in interacting with Americans. So far, I only work 6 hours a week, but I'm planning to increase my hours for next semester.Without this job, I wouldn't have been able to get an SS number, which I need to get a credit card here, which I need to establish my credit history, which I absolutely need since it will make certain things easier (ie. renting an apartment, getting car insurance) for me in the future.

2. My benefactor
I've finally discovered who my benefactor is, and I've written him a thank-you letter. Without his very generous grant, I never would have set foot here in the first place.

3. My learning group
I got pretty lucky in the learning group raffle, and I'm so thankful for it! We work together so well -- and the same can't be said for the other groups in our class. In fact, one of the international students already left her group because she got treated badly by the guys (ie. her opinions didn't seem to count, she got shouted at, etc). Some groups also stay past midnight doing case work; the latest time my teammates and I worked together was until about 8 in the evening. We're pretty efficient, and have gotten to know each other's strengths and weaknesses. We help each other with acads and I've always found them a source of support whenever I've had problems to deal with.

4. Viber, Skype and all that jazz
My former colleagues called me on Viber one night while I had a quiet shift at the library, and I was so happy that I disregarded protocol and jabbered away in Tagalog for more than an hour! Thank goodness no one had problems with their research or computers that time. There's no other better panacea to homesickness than hearing the voices of your friends and loved ones back home (or seeing them on your laptop). Talking to my colleagues made me feel as if I was back home again, just doing work in a different building. How hard it would be for us abroad if we only had snail mail to rely on! When my mom worked abroad in the 80's, she would send home cassette tapes (yes, cassettes) on which she would record her messages so that we could hear her voice.

5. The steady stream of learning
There are times when the load is so intense that MBA students ask themselves: Why am I taking this MBA again??? There are times when I feel that work was so much easier, and ask myself whether going here was worth giving up the comforts of home and the security of income. Well, time and time again, I always arrive at the conclusion that it's worth it. It's worth every penny I've put into it so far. I'm learning so much from the classes, the professors, my classmates, the career coaches and companies who come here to give us cases. You get those aha! moments when something discussed in class suddenly makes you realize why it was that way at work. That said, work experience is really valuable coming into the program.Not only do you get to share more, but you can more easily relate to the course material too.


Obviously, there are loads of things I'm thankful for -- bargains and sales that allow me to survive on a very stretched budget among them. I've gone a bit over my budget with my laptop purchase, the conferences I've traveled to, and sundry things I believe I need, but hopefully there wouldn't be any big-ticket items for next semester. In less than 3 hours, I'll be meeting my learning group for a case discussion then, in the afternoon, I'm off to listen to Christmas carols in the performing arts center. I can't believe it's nearly Christmas! Time flies by so fast!

USA Study Guide

I found a site that gives a great overview on studying in the US:

STUDY IN THE USA

It has state guides, links to financial aid sources, a suggested application guide and pages on "The USA Way of Life," which are useful if you're an international student. (I found the videos on Culture Shock really interesting.) Just keep in mind that the advice offered here applies to undergrad and graduate students.

Financing your MBA: Scholarships

If you were to talk to an ordinary Filipino and tell him that you were taking your graduate degree in the US, he assumes either of the following:

1. You have a scholarship. A full tuition and board scholarship, with an allowance that you can live on.

Or:

2. You're rich and your family/parents are paying for it. For every single penny.

Sad to say, there are a lot of Filipino MBA students who don't exactly fall into either category, and usually have tuition and living expenses to worry about. If you're planning to take your MBA in the US, be warned: you have a lot of competition for those full scholarships. At most, you will probably get a significant fellowship in tuition fees on account of your being an international student from a developing country. (Read: significant, not full. And that's only for tuition, living expenses not included.) Don't pin all your hopes on getting a free ride.

The two-year MBA program at ultra-elite schools (eg. Harvard, Stanford, Kellogg) has a price tag of Php 8-9 million. That's a lot of money! But ultra-elite schools also typically have a lot of money available for fellowships. And if you land a full scholarship, then good for you! The kind of deal offered by the Eller MBA program, which offers scholarships specifically for Filipinos, is rare in US schools.

In case you're wondering what other options there are in getting a full scholarship, there is only one I can think of: the Fulbright scholarship offered by PAEF(the catch here is that you have to go back to the Philippines once you complete your studies).

There are a few partial scholarships up for grabs that you can search for on the Internet, but I'm betting that you have a lot of competition for those. Which isn't to say, by the way, that you shouldn't apply. I've applied to those myself, and have crossed my fingers.

There are the QS scholarships, for example. I found out about these by attending the QS World MBA Tour here in Manila. Attending the event and answering the online survey afterwards will give you a chance to apply for these scholarships. There are scholarships for specific schools, as well as general scholarships. For the latter, the QS Leadership Scholarship awards $10,000 to the lucky applicant, and the QS Community Scholarships award $2,000 each to five lucky candidates.

Other links you might want to check are:

• http://fastweb.com
• http://finaid.org
• http://scholarships.com
• The American Association of University Women - http://www.aauw.org/fga/fellowships_grants/index.cfm
  The American Association of University Women offers fellowships to female international students studying in the United States. Some fellowships are available for minority women who are U.S. citizens or U.S. permanent residents. International Fellowships are awarded for full-time study or research in the United States to women who are not United States citizens or permanent residents. Both graduate and postgraduate study at accredited institutions is supported.
• The International Education Financial Aid Website - http://www.iefa.org/
  The International Education Financial Aid Website provides college scholarship and loan information for international students wishing to study abroad There are many scholarships available on this website.

Whenever I come across scholarships specifically for Canadians, Brazilians or even Indonesians, I feel frustrated that there aren't any  -- at least, I haven't come across any -- foundations offering MBA study-abroad scholarships to Filipinos. I know that there are a lot of Filipino MBAs who graduated from foreign schools and built successful careers for themselves here or abroad, but I guess the concept of giving back to fellow countrymen is not so prevalent in our culture. I salute the Asian Institute of Management for offering scholarships, but AIM is in Manila. There are MBA applicants (like me) who want to experience the world outside of Manila. Really -- do all Filipino MBA applicants have the means to study? Are Filipinos so good that they can easily snag full scholarships? I mean, there are MBA applicants who could definitely use some help here...

For more details on how I'm paying for my MBA, visit this link.

Have you taken your GMAT?

If not, then there are less than three weeks left for Beat the GMAT's 2012 scholarships! Why not take a shot at it?

There will be six winners -- each winner will receive One GMAT Course + One Admissions Consulting Package + $250 GMAT Voucher! This is open to international applicants, so Filipino MBA applicants -- give it a try! I have to say, this is something that will definitely help you in the very crucial stage of MBA applications.

Just look at the full list of prizes:

GMAT Courses

• One Kaplan GMAT Advantage Anywhere Course (Online)
• One Knewton GMAT Course (Online)
• One Manhattan GMAT Course (Online)
• One Master GMAT Course (Online)
• One Princeton Review GMAT Course (Online)
• One Veritas Prep GMAT Course (Classroom or Online)

Admissions Consulting Packages

• One Admit Advantage Pre-MBA Application Package
• One Clear Admit Comprehensive Admissions Strategy Roadmap
• One MBA Admit 2-hours of Consulting (1 hour strategy session and 1 hour of oral feedback on required essays for one MBA application)
• One mbaMission 2-hours of Consulting with Senior Consultant
• One Precision Essay 2-hours of 1-on-1 support with CEO and Founder, Jon Frank
• One Veritas Prep Diagnostic Session and Essay Review

How Beat the GMAT will distribute prizes
There is only one GMAT course and one Admissions Consulting package available from each company listed above. In your application, you will be asked to rank in order the courses you wish to attend and the consulting packages you are interested in.

The first-place winner will win his/her top preference GMAT course from the total pool of six packages available; next, the second-place winner will win his/her top preference based on the remaining pool of five course packages; next, the third-place winner will win his/her top preference based on the remaining pool of four packages; and so forth. The same process applies for the consulting packages: the first-place winner will receive his/her top choice; next, the second-place winner will receive his/her top choice of the remaining five consulting packages; and so on.

University of Arizona Eller MBA - Scholarship Opportunity for Filipino students

Eller is offering MBA scholarships and assistantships exclusively to Filipinos!

I received the following email today:

Apply through this email, and as a citizen or resident of the Philippines, you are guaranteed a graduate assistantship and/or scholarship*

Eller MBA – University of Arizona
At Eller, you will benefit from the advantages of a major university while receiving the
personalized attention you would expect from a more intimate program. International recognition and top research faculty, coupled with small class sizes and a cutting edge curriculum, gives students the strategic perspective necessary to succeed in today's global marketplace.

Guaranteed Graduate Assistantship and/or Scholarship if you apply by April 1st *

Graduate Assistantships = $25,000+ stipend/tuition assistance per year
Scholarships = up to 100% of full tuition

*Ranked Top 10 in both Entrepreneurship and Management Information Systems

The Eller Full-Time MBA is a cohorted, two-year program that offers students a choice of six (6) different concentrations and five (5) other areas of focus. Based in Tucson, Arizona, the full-time MBA exposes you to a summer internship, corporate speaker series, case competitions, student professional organizations, career management treks and programs, and an international trip that provides students with first-hand experience in markets and culture during company visits.

Start your application here! Here is what you’ll need to do to complete the application

1. Basic Information: Fill out the basic application information

2. Resume: Your recently updated resume showing your professional and educational experience

3. Essays: The essays are simply meant to be open and honest and provide us with a snapshot about who you are as an individual. They are not meant to be something you anguish over for hours/days/weeks/months.

4. Recommendations: on the application site will be a spot to type in two e-mail addresses of those you'd like recommendations from. A short survey style form will be sent to them which they will e-mail back. It is a very short process that will only take the recommenders approximately 3-5 minutes of their time. Please have those who can attest to your ability professionally fill out these short recommendation surveys.
5. Click "submit application" and your application is almost complete!

Next Steps -

1. Transcripts: We will accept unofficial transcripts from you for application purposes. Once accepted you’ll need to remit an official copy of your transcripts if you decide to attend the Eller MBA program at the University of Arizona.
2. Test Scores: Have your official GMAT score sent to us when you have completed the test. Please keep in mind that your application can be submitted and processed before your GMAT test is taken. We encourage you to handle your application this way!

We encourage you to learn more about how Eller MBA students acquire the tools, knowledge, and experience that give them the competitive edge in today’s global marketplace. Start your application here!

Sincerely,

MBA Admissions
Eller College of Management, University of Arizona

Arizona.EllerMBA@eller.arizona.edu

520.621.6227

*Optional 3rd essay – for scholarships - must mention this e-mail. All applicants applying through this e-mail, who write the optional 3rd essay, and who are offered an acceptance into the Eller MBA program…

Guaranteed Graduate Assistantship and/or Scholarship if applying by April 1st *

• Graduate Assistantships = $25,000+ stipend/tuition assistance a year

• Scholarships up to 100% of full tuition

  
  

  
  

It's a very easy application process if ever I saw one! And they guarantee financial aid already! To Filipinos! For someone like me who's been agonizing over MBA essays and luckless scholarship searches, this is certainly very welcome news!

Of course, that school I've been accepted to in my previous post is certainly more well-known and highly-ranked than Eller. But this is a very tempting offer... Should I give in?

An aside -- I wonder why they're targeting Filipinos. Is it because Filipinos are well-known to be "global citizens"?

I got in!

Yes! Of the five schools I've applied to, I have been admitted to my top choice! With a significant fellowship to boot! And even though I've applied in the second round!

School starts in fall of this year. I now have to start preparing financial documentation and such. Oh - about financial documentation - that last post I wrote? Well, it doesn't apply to all schools. There are a LOT of schools that only accept bank statements. Which is bad news for me since I have a lot of money invested outside the bank. I have to look for a guarantor...