Dreaming of an MBA but daunted by the price tag? You’re not alone – and in fact you don’t have to go it alone. Some business schools and foundations offer targeted MBA scholarships for women, designed to open doors, level the playing field, and fuel the next generation of female leaders. From full rides to targeted fellowships, these awards can make a world-class MBA more accessible than ever.
In this guide, we’ll spotlight the top scholarships exclusively for women in 2025, explain the types of funding available, walk you through how to build a winning application, and answer your most pressing questions. For further information about scholarship opportunities for all students, see our deep dive into MBA scholarships.
Why MBA Scholarships for Women Matter
Although progress has been made, women remain underrepresented in most MBA classrooms and the C-suite. That’s why MBA scholarships for women are about more than just financial aid – they’re a powerful investment in future leaders. These scholarships often come with access to exclusive networking events, mentorship, and leadership development, creating pathways to career success and community impact.
As you plan your MBA journey, understanding the available funding types can help you target the right scholarships for your goals.
If you are still deciding where to apply, review our article How to Choose an MBA Program: 8 Key Criteria.
Types of MBA Scholarships for Women
When exploring your funding options, consider these major categories:
- School-sponsored scholarships for high-potential women applicants.
- Corporate partnerships offering MBA fellowships to develop future female executives.
- Nonprofit grants focused on leadership, sustainability, or entrepreneurship for women pursuing an MBA.
Some examples include the Forté Foundation MBA Scholarship, which promotes women’s leadership across top MBA programs; the Fondation Rainbow Bridge MBA Scholarship, designed to support women from Africa and Asia pursuing their degrees at HEC Paris; and the Nestlé MBA Scholarships for Women at IMD Business School, encouraging global leadership and social responsibility.
Forté MBA Fellowships Overview
The Forté Foundation MBA Fellowship is one of the most competitive and widely available MBA scholarships for women. Offered at more than 50 top business schools – including Wharton, Booth, HBS, MIT Sloan, INSEAD and London Business School – the Fellowship supports high-potential women who demonstrate leadership, diverse perspectives, and a commitment to advancing women in business.
Since launch, Forté partner schools have awarded $475 million in funding to over 19,000 Fellows.
Why It Stands Out
In addition to financial aid, Forté Fellows gain:
- Access to Forté’s MBA Women’s Leadership and Financial Services Fast Track Conferences
- Inclusion in a resume book shared with top employers
- Exclusive networking, job postings, and career development resources
- Mentorship and peer support from a lifelong Forté community
How Selection Works
Each school selects its own Fellows.
- At some schools, you’re considered automatically with your MBA application
- At others, you must submit a separate Forté Fellowship application
Check with each program for specific requirements.
Who Should Apply?
Fellows typically have strong leadership experience, 6+ years of work history, and diverse academic or professional backgrounds. The average GMAT is ~700, and about 45% of recent Fellows are international students.
Whether you’re seeking leadership development, community, or access to top employers – Forté is more than a scholarship. It’s a launchpad for women in business.
With an average award of around $32k, the Forté MBA Fellowship delivers both financial support and a career-boosting network. For high-achieving women ready to lead, it’s a tremendous opportunity worth pursuing.
MBA Scholarships and Fellowships Exclusively for Women
A number of top business schools and partner organizations offer scholarships and fellowships to support women pursuing MBAs and other degrees. These awards are designed to recognize academic excellence, leadership potential, and a commitment to advancing women in business and society. Below is a curated list of opportunities beyond the Forté Fellowship, which remains the most widely known scholarship for women in business.
| School | Type | Name | Program | Avg. Amount Awarded | Eligibility |
| MIT | Fellowship | Frank and Eileen Female Leaders of Tomorrow Fellowship | MBA | N/A | Female MBA students |
| Wharton | Scholarship | Stephen Bufton Memorial Educational Fund | All Programs | $2,000 to $10,000 | Female US citizen MBA students |
| Various | Fellowship | American Association of University Women Scholarship – International Fellowships | Graduate or Postdoctoral | $20,000 to $50,000 | Women who are non US citizens or nonimmigrant visa holders, hold a degree equivalent to a US bachelor’s, plan to study full-time, and intend to return to their home country to pursue a career. English proficiency is also required. |
| Booth | Fellowship | Herman Family Fellowship for Women Entrepreneurs | MBA | N/A | Women entrepreneurs who are full-time students at Booth |
| Various | Scholarship | QS ImpACT Women’s Scholarship | Undergrad or masters inc MBA | $5000 | Women who have participated in QS fair & submitted QS impact report |
These scholarships provide financial support and connect recipients with valuable professional networks and leadership opportunities. For women applying to top MBA programs, exploring these awards can be a powerful way to fund your education and strengthen your post-MBA career path.
How to Strengthen Your MBA Scholarship Application
Winning an MBA scholarship is competitive – but absolutely achievable with the right strategy. The most successful candidates treat scholarships not as an afterthought, but as an integral part of their application planning from day one.
It’s important to understand that some scholarships are awarded automatically based on your admissions application, while others require a separate scholarship application. To maximize your chances, you need to optimize both. Here’s how:
Step 1: Optimize Your Admissions Application
Most schools automatically consider admitted students for merit-based scholarships. That means your MBA application is your scholarship application, at least in part. Here are our tips:
- Showcase your leadership and impact. Use your essays and resume to highlight meaningful achievements and potential for future impact.
- Clarify your career vision. Admissions and financial aid teams want to understand what drives you and how an MBA will help you amplify your influence.
- Emphasize your alignment with school values. If the school strongly emphasizes inclusion, innovation, or social impact, reflect that in your application.
Step 2: Apply Early
Timing can be everything. Round 1 may give you the best odds of securing a scholarship, as most scholarship funds are allocated early in the admissions cycle. Waiting until Round 2 or 3 can reduce your chances, even if your application is strong.
Step 3: Ace Your Scholarship Applications
For scholarships that require a separate application, you’ll need to go the extra mile. Here are our tips:
- Research thoroughly. Identify all the scholarships you’re eligible for, from industry-specific to women-focused to diversity-based awards.
- Tailor every application. Customize your essays and materials to align with the mission and criteria of each scholarship.
- Craft compelling, authentic essays. Just like with your MBA application, storytelling matters. Show how you’ll use your MBA to make a difference.
- Plan ahead. These applications take time. Give yourself plenty of runway to write, reflect, revise, and refine.
Timeline for Applying to MBA Scholarships
A well-timed application is just as important as a strong one. Here’s a simplified timeline to stay on track:
| Timeframe | Scholarship Strategy |
| 12–18 Months Before Application Deadlines | – Start researching scholarship opportunities at your target schools and external organizations.- Explore eligibility requirements, application formats, and deadlines. Bookmark key information.- Make a spreadsheet to track each opportunity’s criteria and materials. |
| 8–12 Months Before | – Identify which scholarships require separate applications and which are automatic with your MBA app. Make a note of scholarship application requirements.- Begin collecting key documents (e.g., transcripts, test scores, résumé, proof of financial need if applicable). |
| 3–6 Months Before | – Begin drafting scholarship applications, tailoring them to the values of each program & scholarship.- Cross-reference with school deadlines to ensure everything aligns (especially for Round 1). |
| Final Weeks Before the Deadline | – Finalize and proofread all application materials, including scholarship-specific essays or forms.- Submit ahead of the deadline to avoid technical issues or missed opportunities.- Confirm receipt with schools or scholarship organizations if needed. |
Sticking to a scholarship timeline gives you a strategic advantage and helps reduce last-minute stress.
If you need guidance on crafting your MBA application, check out our tips for how to write standout MBA essays.
Scholarships Aligned with Purpose, Identity & Industry
Looking for more MBA scholarship options? Here are some more scholarship options for women, offering both financial support and recognition.
Women in STEM, Tech & Analytics
The MPOWER Women in STEM Scholarship supports high-potential female international and DACA students pursuing full-time STEM degrees at eligible US or Canadian universities. With awards from $1,000 to $5,000, it aims to close the gender gap in STEM by empowering women to use their skills for societal impact. Open only to non-citizens, it offers programs such as engineering, computer science, and STEM-designated MBAs.
Fellowship Support for LGBTQ+ MBA Candidates
The Reaching Out MBA Fellowship (ROMBA) is a competitive opportunity for MBA students who identify as LGBTQ+, offered through partnerships with top business schools. It provides access to leadership development, a dedicated retreat, and a strong professional network designed to support future business leaders. Applicants simply express interest in the fellowship; there is no fellowship application. Schools select fellowship recipients. The fellowship offers valuable community and support for LGBTQ+ students pursuing careers in business.
Social Impact and Sustainability
The BackPack-Excellence Scholarship for Women is a prestigious MBA scholarship offered by the IMD Business School in partnership with the Swiss-based BackPack Foundation. Launched in 2022, the scholarship supports talented and driven women who have faced obstacles that may have previously made pursuing an MBA feel out of reach. Covering tuition and living expenses for the IMD MBA program,the scholarship aims to empower women who are committed to meaningful leadership careers and to making a positive difference in the world.
Women of Color and Minority Applicants
The Dr. Jade Education Scholarship is designed to support African American women who are working full-time while pursuing graduate education, including an MBA. Created to help address the barriers that professional Black women may face in advancing their academic and career goals, this scholarship offers financial support to those juggling work and study. It’s an ideal opportunity for driven individuals committed to advancing their education while balancing their professional responsibilities.
More Than Funding – A Catalyst For Your Future
Pursuing an MBA is a bold step, and for women, scholarships can make that journey not only possible but transformational. These awards are more than financial support; they’re investments in your leadership, your voice, and your potential to drive change. From the global reach of the Forté Fellowship to school-specific and industry-targeted awards, today’s top MBA scholarships for women are helping to build a more inclusive and dynamic business world.
Ready to Launch Your MBA Journey?
Schedule a free MBA strategy session with Fortuna Admissions. Our expert team has helped hundreds of women earn admission and substantial scholarships at the world’s top MBA programs. Let’s chart your path to success.
