MBA Scholarships: What Are My Options?

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Miles Keenlyside July 30, 2014

There are plenty of grants and scholarships available to students, both from universities and outside sources. While they probably won’t cover the entire cost of the program, they will help you reduce the amount of debt you will have upon graduation.

In this course, participants learn core principles, concepts, and methods of continuous improvement and explore the history of continuous improvement efforts. In a series of lectures, Master Black Belt in Six Sigma Shane Wentz, Ph.D., enables learners to enhance, optimize, and stabilize business processes and to augment quality control through varied methodologies. Participants gain the skills and knowledge to reimagine internal processes, engage in advanced problem-solving, and empower employees. The course covers high-level foundational principles of Lean, Six Sigma, and DMAIC processes before diving deep into Lean Six Sigma methods. Learners will analyze the tools of process mapping, Kaizen (a continuous improvement method/tool deemed a prerequisite for Lean transformation success), Lean (a continuous improvement philosophy that emphasizes streamlined workflows and reducing waste), and the process improvement methodology driving DMAIC: Define, Measure, Analyze, Improve, and Control.

Entrepreneurs fostering new ventures outside of well-developed entrepreneurial ecosystems like Silicon Valley face significant challenges. These markets are unlike Silicon Valley, and they will likely remain so. That doesn't mean they can't nurture and sustain new businesses. In transitioning markets that lack abundant private sector financing, creative approaches from government officials, donors, and business leaders can fill the void to support entrepreneurial activity. Northeast Ohio (where Cleveland and Case Western Reserve University are located) has become a laboratory for such innovative solutions. During our time together in this course, we will explore some of these creative approaches to promoting regional entrepreneurship. Northeast Ohio has seen a massive infusion of government and donor resources for over ten years. In that time, Northeast Ohio has promoted regional development (including job creation and follow-on funding) through alternative methods of financing startups. It has not been easy. The region has made progress, but it remains to be seen whether it has struck upon an enduring formula. A dynamic entrepreneurial ecosystem takes many years, even decades, to develop. Government policymakers and donors typically seek quicker returns on their support programs, which makes long-term support for entrepreneurship challenging. This course includes case studies and first-person testimonials from entrepreneurs who have launched products and services ranging from medical devices to LED lights to whiskey. You will learn how these entrepreneurs discovered and procured resources from various programs and intermediary organizations. You will hear from business people still in the process of developing their companies as well as those whose ventures have flourished. Our focus will extend beyond Cleveland to selected markets around the world, including Greece, Vietnam, Tunisia, Argentina, Rwanda and China. You will learn about international incentives and other supports available to developing startups and small businesses across the globe. This course examines how different communities around the world approach implementing strategies and methods to support businesses. I will ask you to reflect on how to apply the principles we learn to growing entrepreneurship where you live. The social interactive features of the online platform will enable students from around the world to share ideas and learn from one another. Most MOOCs rebroadcast professors’ lectures; this course is different. Don’t expect to see me standing in front of the camera, talking and lecturing every module. Instead, the lectures will be relatively short in length. They have more of the feel of an engaging documentary than a static classroom setting. ## __What type of person takes the *Beyond Silicon Valley* course?__ - Active and aspiring businesspeople in communities looking to initiate new startup ecosystems or bolster existing ones - Current and prospective entrepreneurs who want to learn about funding sources, risk management, and the lifecycle of startups - Professionals who work in government agencies, nongovernmental organizations, philanthropic institutions, and various private funds that fund startups - Anyone curious about how to create and grow startup ecosystems outside the major tech hubs - The principles Beyond Silicon Valley teaches have been drawn from and applied to startups worldwide, from small villages to megalopolises. You'll study success stories spanning the globe from Vietnam to Kosovo to Botswana. ## __What will you learn in *Beyond Silicon Valley*?__ - How and where startups can find funding to get their businesses off the ground - What role government can play in encouraging startups and a healthy startup ecosystem - How anchor institutions such as universities and healthcare systems participate in startup ecosystems - How nongovernmental organizations support startups - How to raise funds from venture capitalists, angel investors, and accelerators - How to navigate challenging periods in the startup lifecycle - The importance of mentoring in successful startups

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Before you jump into the deep end and start taking out loans left and right to finance your MBA, make sure that you have explored all of your “free money" options. There are plenty of grants and scholarships available to students, both from universities and outside sources. While they probably won’t cover the entire cost of the program, they will help you reduce the amount of debt you will have upon graduation.

Many schools offer a variety of merit based scholarships, plus scholarships for military service or other personal circumstances that may require financial aid. Contact your university’s Office of Financial Aid to see if you qualify for any of their grants or scholarships. You may qualify for a university fellowship, or you may qualify for a grant which is specific to your university or MBA program. Or try speaking to some of the students who are currently in the program, they may be able to give you some insight about funding.

Fellowships

If you aren’t opposed to working on campus, university fellowships can be a great option to reduce your financial burden. Working with professors and students, university fellows take on more responsibilities on campus than their non-fellowship colleagues, but also receive strong professional training and experience. Fellowship students may receive a small stipend in compensation for their work.

Employer Sponsorship

If you are currently professionally employed and are pursuing an MBA to supplement your experience and increase your earning power, you may be able to get your employer to partially sponsor your tuition. There will be conditions of course, your employer may only agree to sponsor you if you agree to stay on board for a few extra years. Ultimately the conditions are decided by the employer, but if it helps you pay for school and guarantees a job position upon graduation, it can be a win-win situation!

Merit and Need Based Scholarships

There are a great deal of scholarships available to students, both university specific and available to the public. Speak with your university’s Office of Financial Aid to see what kind of scholarships your university offers. In the mean time, here is an extensive list of outside MBA scholarships compiled by Univeristy of California Berkeley that may help you stay out of debt a little longer. Take some time to look through the available outside scholarships - there may be one that’s just right for you.