Stanford Graduate School of Business (GSB) this year has launched a new USA MBA Fellowship program, which will provide financial assistance to MBA students committed to improving economically impoverished areas in the United States.
In its inaugural year, the fellowship will focus on the Midwest, covering tuition and associated fees (amounting to approximately $160,000 over two years) for students who demonstrate both financial need and a strong connection to at least one Midwestern state (Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota or Wisconsin). Applicants whose level of need exceeds the fellowship amount may also be eligible for additional financial assistance to cover the full amount of the program. (Attendance for a first-year MBA student this year, inclusive of tuition and all other expenses, is an estimated $109,218.)
As part of the program, fellowship students agree to return to the Midwest within two years of graduation in a professional capacity that will help contribute to economic development of the area.
Students who wish to apply for the fellowship must do in accordance with the school’s Round 1 or Round 2 MBA application deadlines—September 21st or January 10th. (Applications for the USA MBA Fellowship will not be accepted as part of the school’s third MBA application round.) Three students will be selected as fellows in the program’s first year.
To be eligible, applicants must be a U.S. citizen or dual citizen and demonstrate proper financial need through the Stanford GSB financial aid process. In addition to indicating interest in the fellowship as part of the MBA application process, those who wish to be considered must also submit a 400-word essay describing their connection to the Midwest and how they intend to contribute to economic development in the region.
Examples of strong ties to the Midwest include—but are not limited to—”current residency in one of the eligible states, prior residency for a minimum of three consecutive years in one of the eligible states, graduation from a high school in one of the eligible states or experiences that demonstrate a strong commitment to, and interest in, the development of the region,” according to the fellowship guidelines.
The first round of Stanford USA MBA Fellows will be selected in May 2017.
For more information, visit the Stanford GSB USA MBA Fellowship program site.