Financial Support

Overview of financial support options offered by the Penn State Smeal MBA program, including scholarships, fellowships, military support, partnerships, and other financial aid opportunities.

Each year, the Penn State Smeal MBA Program offers merit-based scholarships and fellowships using admission criteria that focus on academic ability, work experience, leadership skills, and overall fit with the program.

All applicants are automatically considered for funding, and there is no additional application necessary. For full consideration, candidates should apply by the February application deadline.

The Penn State Smeal MBA scholarships are funded by alumni and friends of Penn State to attract outstanding students who will bring academic excellence, leadership potential, diversity, work experience, and unique perspectives to the class. In recent years, approximately 20 percent of incoming students received a scholarship award typically ranging from $5,000 to $10,000. Those who apply by the February deadline are automatically considered for scholarship awards.

Penn State Smeal MBA Fellows

Penn State Smeal MBA Fellowships are two-year merit-based awards funded by Penn State to attract outstanding students and to provide support to fulfill the University's mission. Recipients receive a full tuition waiver for both years of the program, subsidized health insurance, and a monthly stipend. Awards are made on a basis of academic ability, work experience, leadership skills, and fit within the vibrant and diverse Smeal MBA community. Approximately 35 Fellowships are awarded within a typical incoming class.

Powerful Women Paving the Way Fellowship

Powerful Women Paving the Way Fellowships are awarded to outstanding candidates who are dedicated to enhancing the personal, professional, and economic development of graduate business women. Recipients are selected based on scholastic merit, leadership, and work experience aligned with the mission of the Penn State Smeal Women’s MBA Association, the National Association of Women MBAs, and Penn State Smeal Women in Business. This award includes a full tuition waiver for both years of the program, subsidized health insurance, and a monthly stipend, and recipients are encouraged to pursue leadership positions with the Association and with Penn State Women in Business.

Maimuna Mijindadi Anyene Memorial Fellowship

The Maimuna Mijindadi Anyene Memorial Fellowship is awarded to an outstanding candidate from Nigeria or of Nigerian descent who demonstrates a strong connection to their community and a desire to support and promote public and charitable work in the future. This Fellowship is offered in the loving memory of Maimuna Mijindadi Anyene, a 2006 alumnus of the Penn State Smeal MBA Program. This award includes a full tuition waiver for both years of the program, subsidized health insurance, and a monthly stipend. Additional scholarship funds may be awarded to recipients of this Fellowship.

Bunton-Waller Fellowship

Bunton-Waller Fellowships are merit based and seek to enhance the diversity of the student population within the Smeal MBA Program. Fellowships from this program are awarded to individuals from various ethnic and cultural backgrounds with strong academic and professional potential. Factors considered in assessing each candidate’s application include quality and quantity of professional work experience, academic performance and potential as shown by transcripts and GMAT results, extracurricular and community activities, leadership potential, and the candidate’s ability to add strong and unique value to the overall class experience.

Bunton-Waller Fellowships are awarded for two years and carry a full tuition waiver. In addition, recipients receive a monthly stipend. The tuition waiver does not include the enrollment deposit, program fees, or the cost of the Global Immersion.

The Bunton and Waller Fellowship Program is named in honor of the first-recorded African American male and female Penn State graduates.

Coverdell Fellowship

Coverdell Fellowships are available to incoming MBA students who are returning Peace Corps volunteers. The fellowship includes a full tuition waiver, subsidized health insurance, and a monthly stipend. For more information on this fellowship, please view the Peace Corps website or email the Smeal MBA Program.

Fulfillment Fund Fellowship

The Penn State Smeal College of Business is honored to partner with the Fulfillment Fund, a Los Angeles based non-profit organization assisting those who grow up in educationally and economically under-resourced communities with opportunities to empower themselves through undergraduate and graduate education. The Fulfillment Fund Fellowship is awarded to an outstanding student of the Fund who wishes to pursue their MBA at Penn State. It includes an expense reimbursement for those who wish to visit the Penn State campus, an application fee waiver, a full tuition waiver for both years of the program, subsidized health insurance, and a monthly stipend. For more information, please contact smealmba@psu.edu.

Along with a military application fee waiver (contact smealmba@psu.edu to request), we commit to making financial aid available to qualified active-duty military personnel and to individuals who have transitioned from the service prior to enrollment within the Smeal MBA Program. The amount of support offered will be based on the criteria used for our merit-based awards of scholarships and fellowships. Fully qualified U.S. veterans who have served on active duty since September 11, 2001, and who wish to attend Penn State are eligible for assistance with tuition costs, thanks to Smeal's participation in the U.S. Government Yellow Ribbon Program, which is part of the Post 9/11 GI Bill. For more information, visit the Department of Veterans Affairs.

The Penn State Smeal MBA Program partners with a number of organizations that offer financial assistance to incoming students:

Teach for America

Smeal's proud partnership with Teach for America provides a two-year deferral for students who are admitted to the program and choose to join Teach for America. We also offer an application fee waiver for those from Teach for America who are applying to the Penn State Smeal MBA Program. To obtain the waiver code, please contact smealmba@psu.edu. (Please note: Application fee waivers must be applied at the time of application. Fees cannot be reimbursed after an application has been submitted.)

Western NIS Enterprise Fund (WNISEF)

The Western NIS Enterprise Fund’s SEED Grant is a scholarship initiative created by WNISEF’s Economic Leadership Program. WNISEF provides full tuition scholarships to Ukrainian and Moldavian students who choose the Smeal MBA to gain and expand their knowledge of the global business world and bring it back to their country of origin. To learn more, please contact smealmba@psu.edu.

Additional need-based financial aid, including student loans, is available for U.S. citizens through the Penn State Office of Student Aid.