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.

The Penn State Smeal MBA program offers nearly all of its admitted students some form of scholarship and about 75% of that group a full-tuition Fellowship. Scholarships and fellowship awards are merit-based and take into account:

  • Academic Ability
  • Work Experience
  • Leadership Skills
  • Smeal Program Fit

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 or GRE results, extracurricular and community activities, leadership potential, and the candidate's ability to add strong and unique value to the overall class experience.

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.

Fellowships

Penn State Smeal MBA Fellowships are awarded to outstanding international and domestic candidates of the resident MBA program at Smeal each year. Awards are based on merit, and include:

  • Two-year full-tuition scholarship
  • Subsidized health insurance
  • A monthly stipend for all ten months of the program for each of the two years the student is enrolled

Approximately 40 Fellowships are awarded within a typical incoming class.

The Powerful Women Paving the Way Fellowship is awarded to outstanding candidates who are dedicated to enhancing the personal, professional, and economic development of graduate business women, and who are aligned with the mission of the Penn State Smeal Women's MBA Association. Approximately 3 Powerful Women Paving the Way Fellowships are awarded each year, and the Fellowship includes:

  • Two-year full-tuition scholarship
  • Subsidized health insurance
  • A monthly stipend for all ten months of the program for each of the two years the student is enrolled
  • Travel reimbursement (up to $300), hotel, and admission to the Powerful Women Paving the Way Conference, held in April each year on Penn State's University Park campus.

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. The Bunton-Waller Fellowship includes:

  • Two-year full-tuition scholarship
  • Subsidized health insurance
  • A monthly stipend for all ten months of the program for each of the two years the student is enrolled

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

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. The Maimuna Mijindadi Anyene Memorial Fellowship includes:

  • Two-year full-tuition scholarship
  • Subsidized health insurance
  • A monthly stipend for all ten months of the program for each of the two years the student is enrolled

This Fellowship is offered in the loving memory of Maimuna Mijindadi Anyene, a 2006 alumnus of the Penn State Smeal MBA Program. Additional scholarship funds may be awarded to recipients of this Fellowship.

The Paul D. Coverdell Fellows program is offered in partnership with the Peace Corps, and is available to incoming MBA students who have completed Peace Corps service. Approximately 2-3 Coverdell Fellowships are awarded each year. The Coverdell Fellowship includes:

  • Two-year full-tuition scholarship
  • Subsidized health insurance
  • A monthly stipend for all ten months of the program for each of the two years the student is enrolled

For more information on this fellowship, please view the Peace Corps website or email the Smeal MBA Program.

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 grew up in educationally and economically under-resourced communities with opportunities to empower themselves through undergraduate and graduate education. The Fulfillment Fund Fellowship includes:

  • Two-year full-tuition scholarship
  • Subsidized health insurance
  • A monthly stipend for all ten months of the program for each of the two years the student is enrolled

Penn State Smeal also offers an expense reimbursement for those who wish to visit the Penn State campus and an application fee waiver.

Scholarships

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. Scholarship awards typically range from $7,500 to $20,000. Those who apply by the February deadline are automatically considered for scholarship awards.

Military Support

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 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.

Partnerships

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 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.

Other Financial Aid Opportunities

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