In the third part of the UNC MBA series, we cover scholarships, fellowships, loans, UNC NC Residency (Funding option), and funding for US nationals and international students. We hope you have read the first part – UNC MBA Class Profile Trends and Total Fee, and the second part – UNC MBA Curriculum Analysis.
Scholarships are conditional in nature, with many offered at UNC MBA requiring the candidates to return to their home country. For comprehensive scholarships qualifying candidates from over 140 countries, Fulbright scholarships are the best option for those who have demonstrated leadership in their careers.
Scholarships
Specific scholarships are available for German, Brazilian, Armenian nationals and residents from Puerto Rico. The Muskie Graduate Fellowship covers the cost for applicants from Eastern Europe, the Caucasus, and Central Asia, provided they return to their home countries and implement the lessons learned from the MBA program.
| Scholarships | 11 Scholarship Options |
|---|---|
| Prospanica (formerly the National Society Hispanic MBAs) | The Fulbright Program (International Students from 140 countries) |
| The Robert Toigo Foundation | Fundaçao Estudar Scholarship (Brazilian nationals) |
| Barclays Inspiring Excellence Fellowship | Instituto Ling Scholarship (Brazilian nationals) |
| Edmund S. Muskie Graduate Fellowship | German Academic Exchange Service (DAAD) (German national) |
| The Kinesis Scholarship (for residents of Puerto Rico) | |
| Pat Tillman Foundation (members of military service, veterans, and spouses of veterans) | |
| Armenian General Benevolent Union (students of Armenian descent) |
Fellowships
Fellowships are awarded based on leadership capability, academic success, and professional experience. Students are automatically eligible for fellowships that usually last for the entire duration of the course (2 years). UNC doesn’t follow the norm of awarding fellowships during the second year, unlike Kellogg, NYU Stern, and Chicago Booth.
Nearly half of all admits qualify for the 35+ fellowships, with the awards specifically created to encourage women, LGBTQ+, and veterans. The most sought-after fellowships cover the total tuition fees and also provide a $5,000 stipend.
The Bank of America MBA Fellowship and The Michaux Family MBA Real Estate Fellowship are examples of some of the premier fellowships.
19 of the 35 fellowships offer partial tuition aid based on the student’s choice of career and post-MBA goals.
| Premier Fellowships | Partial Tuition Fellowships | Partner Fellowships | Additional Fellowships |
|---|---|---|---|
| Carolyn and Harold Anderson MBA Fellowship | UNC Kenan-Flagler Fellowships | Consortium for Graduate Study in Management Fellowship | MBA Veterans Scholarships |
| Bank of America MBA Fellowship | Calvin Atwood Fellowship | The Forté Fellows Program (Women) | Steve & Debbie Vetter Dean’s Fellows Program |
| Thomas M. Belk MBA Fellowship | Norman Block MBA Fellowship | Reaching out MBA (ROMBA) Fellowships (LGBTQ+) | |
| Thomas W. Hudson Jr. MBA Fellowship | Burlington Industries Fellowship | ||
| Richard H. Jenrette MBA Fellowship | Robert G. Culp Jr. MBA Fellowship | ||
| Jay Edward Klompmaker MBA Fellowship | Ellis MBA Fellowship | ||
| Peter G.C. Mallinson MBA Fellowship | Fritsch MBA Fellowship | ||
| Maverick MBA Fellowship | Paul Fulton MBA Fellowship | ||
| The Michaux Family MBA Real Estate Fellowship | Michael R. Hilton Graduate Fellowship | ||
| Tiger MBA Fellowship | A.L. Hobgood Jr. Scholars Fellowship | ||
| Toni and Rush Wilson MBA Fellowship | Judkins MBA Fellowship | ||
| P. Morgan Fellowship | |||
| Lewis S. Morris MBA Fellowship | |||
| Slater MBA Fellowship | |||
| Starling Fellowship | |||
| Thomas L. Teague MBA Fellowship | |||
| Trammell Crow Residential/Leonard Wood Fellowship | |||
| Steven F. Warren MBA Fellowship | |||
| Robert Gilliam & Katherine Willcox Kittrell MBA Fellowship |
UNC NC Residency (Funding option)
North Carolina residents qualify for a $17,000 waiver on tuition. The eligibility criteria are 12 months of residency before securing the North Carolina Residency Determination Services (RDS), which requires a separate application. In addition to the Residency Certification Number from the RDS, applicants will need to demonstrate their intention to remain a resident of North Carolina, even after attending UNC.
Loans
US Nationals
The financial budget for the academic year is set based on tuition, administrative fees, and living expenses. They determine the scope of loan eligibility. Students who require additional funding need to secure Federal Direct Graduate PLUS loans or seek private loans (at their discretion).
| Loan Type | Fees & Interest Rates | Amount |
|---|---|---|
| Federal Direct Unsubsidized Loans | 1.057% + 5.28% fixed | $20,500 |
| Federal Direct Graduate PLUS Loans | 4.228% + 6.28% fixed | Financial aid budget excluding all other financial aid. |
| Private Loans | Fixed or variable - based on either the Prime Rate or LIBOR | Financial aid budget excluding all other financial aid. |
International Students
International students should compare the rates of the following options with local providers. Loans that do not require a US co-signer are listed but might be subject to higher interest rates. Discover Bank also offers loans up to $40,000 depending upon the student financial budget published by UNC, structured with tuition, administrative fees, and living costs.
| Loans with a U.S. co-signer | Loans that may not require a US co-signer |
|---|---|
| Sallie Mae | HDFC Credila (Indian nationals) |
| Discover Student Loans | Industrial and Commercial Bank of China (Chinese nationals) |
| Citizens Bank | Bank of China (Chinese nationals) |
| FIDERH (Mexican nationals) | |
| Prodigy Finance (no US co-signer required) | |
| MPOWER Financing (no US co-signer required) |
Reference UNC MBA
