MBA Fellowship vs. Scholarship: 3 Critical Differences that you should Know

Scholarship vs Fellowship MBA
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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