Full-Time MBA Scholarships and Financial Aid

Booth offers a plethora of merit-based MBA scholarships to promising students. There is no formal application process for these awards—all applicants are considered, and decisions are based solely upon the information provided in the application. Awards are communicated at the time of admission and recipients are chosen based on academic merit, prospective concentration, the quality of the interview, competitiveness, career goals, and life experiences.

Global Innovator Fellowships are awarded to students with bold ambitions and a demonstrated passion for driving unique and lasting impact in the world. These individuals aspire to use their Booth MBAs to challenge the status quo—pursuing personal and professional goals focused on developing markets, underserved industries, or marginalized individuals. Global Innovators can hail from any country and work across a range of industries. Similar to merit-based awards, there is no additional application process for these fellowships—all applicants are considered and decisions are based solely upon the information provided within the application.

Canfield Private Equity Fellowship
Established in 1998 by Phil Canfield, ’96, managing director at GTCR, this fellowship is awarded to incoming students with prior investment banking or private equity experience who plan to pursue a career in private equity. The Canfield Fellowship is granted to students who have a demonstrated commitment to a career in private equity, past academic achievement, and a track record of professional accomplishments. The Canfield Fellowship includes a financial award, as well as the opportunity to meet Phil Canfield.

Herman Family Fellowship for Women Entrepreneurs
This fellowship was established in 1995 to advance the interests of women in entrepreneurship. In addition to joining the fellows group, recipients have an opportunity to participate in annual reunions hosted by the Herman family and the Polsky Center for Entrepreneurship and Innovation at the University of Chicago. 

Kilts Marketing Fellowship
These fellowships are awarded to students pursuing a career in marketing who plan to concentrate in marketing management. The award includes mentorship from senior alumni.

The above is a sample of the available awards.

Distinguished Fellowship
Selected for their potential to make a meaningful mark on the Booth community and the business world, students awarded this full-tuition fellowship receive a stipend and mentorship from Harry L. Davis, the Roger L. and Rachel M. Goetz Distinguished Service Professor of Creative Management. Students also explore how leaders in various settings make an enduring and positive impact on their organizations and society.

Forté Foundation Fellowship
These fellowships are awarded each year to students who have exhibited exemplary academic, team, community, and/or creative leadership and are committed to advancing the interests of women in business. Awards amounts vary and winners are expected to participate in Forté Foundation and Admissions recruiting events.

Marvin Zonis International Scholarship
Named for Booth’s first professor to teach a course on the effects of digital technologies on global business, this fellowship is awarded to an international student from an emerging economy who demonstrates outstanding leadership, academic, and extracurricular achievements.

Zmijewski Scholarship
This award provides support to a student who embodies the spirit and qualities of Mark E. Zmijewski, the Charles T. Horngren Professor of Accounting Emeritus, including a strong work ethic, demonstrated leadership, and professional tenacity. In addition to being in good standing with the university, this scholarship gives preference to students who did not follow a traditional path to graduate studies and for whom the award could be maximally transformative.

The above is a sample of the available awards.

David W. Fox Scholarship
This full-tuition fellowship is awarded to a student who served—or is currently serving—in the US military. Students must demonstrate outstanding leadership, academic and extracurricular achievements, and a commitment to advancing the interests of those having served in the military.

Chicago Booth also participates in the Yellow Ribbon Program. See below for more information.

The above is a sample of the available awards.

A. H. Tobaccowala Fellowship
This fellowship was established by a Chicago Booth alumnus and innovative business leader in memory of his father, a 1952 Chicago Booth graduate. The fellowship is awarded to students whose primary home is in India at the time of admission.

Chicago Booth Mexico Opportunity Scholarship
This scholarship gives preference to Mexican graduates of Mexican universities who have a demonstrated interest in entrepreneurship and in supporting and contributing to the advancement of the Mexican economy as both a student and an alumnus.

Dennis W. and Jane B. Carlton Fellowship
This annual full-tuition fellowship was established for students from Israel, particularly those who have served in the Israeli military. It includes a stipend, mentoring, and professional development from business leaders in the Chicago area, facilitated by the Jewish United Federation. Recipients of this fellowship are expected to return to reside in Israel within five years of graduation.

Ehara Scholarship
Established by John Ehara, ’78, cofounder of Unison Capital, this award provides annual expendable scholarship support with preference to candidates from Japan or those who are likely to advance the interests of Japan.

He Family Scholarship
Established by Hao “Jimmy” He, ’02, and Lingling Gong, this award provides annual scholarship support to a full-time student and is matched with students from China.

The Nelson Germanos Fellowship
This fellowship is awarded to students with a demonstrated multinational, multicultural life focus and an interest in sharing knowledge generously, as well as very high ethical standards. There is a preference for students from Brazil.

Ramakrishnan Family Scholarship
Funded by an endowment established by Guru Ramakrishnan, ’88, and Anupama Ramakrishnan, this scholarship gives preference to candidates who are Indian nationals.

The above is a sample of the available awards.

Chicago Booth is delighted to participate in the Yellow Ribbon Program, an enhancement of the Post-9/11 Veterans Educational Assistance Act of 2008, which allows institutions of higher learning in the United States to fund tuition expenses that exceed the highest public in-state undergraduate tuition rate. Yellow Ribbon awards are not scholarships and are available to all veterans at Chicago Booth who qualify under the VA guidelines. Chicago Booth is the only top MBA program that offers Yellow Ribbon scholarship with no maximum match. The Yellow Ribbon awards are in addition to other VA programs. You can find the application through the University Registrar. For additional information, please contact Admissions. Read more about our admissions policies for US military personnel here.

Students are welcome to pursue scholarship and fellowship opportunities available through external organizations and affiliations.

Siebel Scholars Program
Each year, the Siebel Scholars Program awards scholarships to second-year students. The annual scholarship program recognizes outstanding students from the world’s leading graduate institutions in business and other fields.

The University of Chicago Obama Foundation Scholars Program
This one-year program is for students entering their final year of study at Chicago Booth, the Crown Family School, or the Harris School. It brings together an interdisciplinary group of promising and eligible UChicago scholars to gain the education, skills, relationships, and perspectives needed to tackle their communities’ most pressing challenges.

Full-Time MBA students who are US citizens or US permanent residents have access to federal student loans and/or private student loans.

• Direct Unsubsidized Loan: The Direct Unsubsidized Loan is a federal student loan available to US citizens and US permanent residents who enroll in at least 200 units each quarter. The annual maximum loan amount is $20,500.
• Direct Grad PLUS Loan: A credit-based federal student loan, the Direct Grad PLUS Loan is an option for students who need to borrow more than the Direct Unsubsidized Loan in a given year. The annual maximum is the cost of attendance minus any other aid.
• Private, credit-based alternative loans: All students can apply for a private, credit-based alternative loan. Students can borrow up to the cost of attendance (which is set by the Financial Aid office) minus any other financial assistance.

Chicago Booth is committed to providing financing opportunities for all students regardless of citizenship status. International students without US cosigners have multiple private-loan options as well. More detailed information regarding these programs is available on the Admitted Student website upon admission to the program.