In the broadest definition, fellowship is handed out for research, while scholarship is awarded to cover the tuition fee in an educational institution. But for Business Schools, especially MBA programs the definition is different. The confusion arises because the difference is not consistent across schools. However, both fellowship, and scholarships are tax free, and are used to cover the tuition fee, partially or completely.
Here are the major difference between Fellowship and Scholarship
a) More than Money
Fellowship not only offers financial support based on the need of the candidate, it also opens up doors to mentors, alumni, and other leaders in Business. Scholarship on the other hand focuses on covering the tuition fee based on need and academic profile.
b) Selection Criteria
The criteria for Scholarship are need and merit based, and not based on nationality, background or future commitment of the candidate. Individuals, corporation, or associations induct fellowships, and the criteria are designed according to the goals of each entity. Some corporate fellowship requires candidates to work in a location for a fixed number of years; while other requires the candidate to be from a certain country by origin.
c) Time of Award
Scholarships are awarded both before the program and after first year in a 2-year MBA program, and depending on the performance in the first year, students can avail the same amount and cover 75-100% of the Tuition Fee. Most fellowships are awarded during the first year of the program or before the program begin.
Teaching and Research Assistantships
Not all-top Business School offers teaching and research assistantship as they consider such options distracting. However, MIT Sloan School of Management offers stipend to select number of MBA students who are appointed based on their interest in research programs. The positions are mostly for Research Assistants and Teaching Assistants. The stipend covers their expense, and opens up access to some of the world’s best research programs. Second Semester First Year and Second Year students can apply for the positions.
Visit MBA Funding and Business School Research pages for more information on Financial aid, and School specific questions.
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Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method
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Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour
Comprehensive MBA Research Guide: Includes Top MBA Programs by 19 Specializations:
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+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee
Top 31 MBA Programs in United States – Total Cost & Salary
Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary
Top 20 European MBA Programs (Based on Actual Salary Increase)
Top 20 European MBA Programs (Short-term return on investment)
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Top 10 MBA in UK – Salary & Fee
Top MBA Destinations Based on Happiness Index
Top MBA Destinations based on Innovation Index
Top 10 MBA Job Markets based on Cost of living and Purchasing Power
Top MBA Destination: By Economy
+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA
MIT vs. Stanford MBA
Haas vs. Ross MBA
Kellogg vs Ross MBA
Booth vs Wharton MBA
MIT Sloan vs Tuck MBA
IMD vs. INSEAD MBA
IIMA vs. ISB
+ MBA in France (2018)
Top Industries in France
Top MBA Programs in France
+ MBA in the UK (2018)
Top Industries in the UK
Top MBA Programs in the UK
Scholarships in the UK
- IoT and IIOT
- Management Consulting
- Post-MBA industries (German Top Schools)