Scholarships and Fellowships

Through the generosity of corporate, individual, alumni, and foundation donors, Chicago Booth is able to provide full and partial tuition awards for exceptional Full-Time MBA students. We offer:

• Merit-based Awards - Merit-based Awards are purely financial awards made by Chicago Booth to help exceptional students meet their educational expenses.
• Chicago Booth Fellowships - Chicago Booth fellowships, which offer more than financial assistance, are structured to foster long-term career mentoring relationships with Chicago Booth faculty, alumni, and corporate leaders.
• Corporate Fellowships - Corporate fellowships, jointly funded by Chicago Booth and specific corporations, are designed to attract talented, diverse candidates who have demonstrated outstanding leadership as well as academic and extracurricular achievements.

How Decisions Are Made

There is no formal application process for merit-based scholarships, Chicago Booth fellowships, or corporate fellowships. When making award decisions, the Office of Admissions and Financial Aid reviews the initial application materials previously submitted by students accepted into the Full-Time MBA Program and assesses each candidate's overall qualities, including his or her academic profile, intended concentration, strength of overall admissions application, evaluations provided by application readers, quality of interview, and competitiveness.

Some Chicago Booth fellowships and Corporate fellowships are intended to advance Chicago Booth's educational mission of preparing leaders who bring diverse viewpoints to our MBA program and the workplace. Like our admissions decisions, all award decisions are made by the admissions committee, using a comprehensive approach that takes into account a variety of personal criteria, including educational achievement; life experiences; personal interests; location of residence; student's goals and background as indicated in the application for admission; and veteran status. Many scholarship and fellowship decisions are made according to the criteria of our donors. In short, we give serious consideration to all students who can bring the educational benefits of diverse viewpoints to Chicago Booth, regardless of whether a particular candidate is a member of one or more traditionally underrepresented or underserved groups.

Contact Information

For additional information on financial aid, please contact the Office of Admissions and Financial Aid.

Merit-Based Awards

Chicago Booth offers top candidates merit-based awards that are awarded at the time of admission. There is no formal application process for merit-based awards. The scholarship and fellowship committee works to identify those students who have excelled in academics, work experience, and service to the community. Other factors may include intended concentration and the overall strength of the pool. merit-based awards range from $10,000 to $30,000 per year, and are renewable for the two years that Chicago Booth students are enrolled in the Full-Time MBA Program.

Students who have questions about Merit-Based Awards are encouraged to contact the Office of Admissions at 773.702.7369 or email us at admissions@ChicagoBooth.edu.

Chicago Booth Fellowships

Although there is no formal application process for Chicago Booth fellowships, students are encouraged to contact the Office of Admissions at 773.702.7396 or email us at admissions@ChicagoBooth.edu for more information.

Full-Time admitted students are eligible for the following Chicago Booth fellowships:

The Dennis W. and Jane B. Carlton Fellowship - Up to three endowed fellowships are available, annually, to encourage participation in our MBA program by students from Israel, particularly those who have served in the Israeli military. The fellowship offers full tuition for two years and a $15,000 stipend, each year. The fellowship includes mentoring and professional development by business leaders in the Chicago area facilitated by the Jewish United Federation. Those accepting this fellowship are expected to reside in Israel within five years of graduation.

The Distinguished Fellows Program - Each fellow receives a full-tuition scholarship for two years and a $20,000 stipend, each year. Students will be selected based on their potential to make a positive difference throughout their careers. In addition, Harry Davis, Roger L. and Rachel M. Goetz Distinguished Service Professor of Creative Management, will serve as a mentor to the fellows group and lead an exploration of the question of how leaders in various settings make an enduring and positive impact on their organizations and society.

The Enid Fogel Diversity Fellowship - This fellowship honors the late Enid Fogel, the first African American to serve as an associate dean of the school. The fellowship provides $50,000 in tuition to talented students who embody Fogel's values by advancing the interests of underrepresented populations including African Americans, Hispanics, and women.

Forté Foundation Fellowship - Forté Fellowships are awarded each year to students in the Full-Time MBA Program who have exhibited exemplary academic, team, community, and/or creative leadership, and are committed to advancing the interests of women in business.

The David W. Fox Fellowship - The David W. Fox Fellowship provides full tuition for two years to a student who has served, or is currently serving, in the US military. Students must demonstrate outstanding leadership, academic, and extracurricular achievements, as well as a commitment to advancing the interests of those having served in the military.

The Nelson Germanos Fellowship - The Nelson Germanos Fellowship provides $20,000 per year, for two years, to a student who shows a demonstrated multinational, multicultural life focus; an interest in sharing knowledge generously, as well as broadly and very high ethical standards. There is a preference for students from Brazil.

The Harper Fellowships - Each Harper Fellow receives $25,000 in tuition, per year, for two years. Students must demonstrate outstanding leadership, academic, and extracurricular achievements.

The Herman Family Fellowship - Established in 1995 by Michael Herman, '64, and Karen Herman, to advance the interests of women in entrepreneurship, this fellowship provides incoming students with a $50,000 tuition award. Recipients will also join the Herman Family Fellows and have an opportunity to participate in yearly reunions hosted by the Hermans and the Polsky Center for Entrepreneurship.

The India Trust Fellowship - This merit-based fellowship, a one-time $10,000 tuition award, is given to two incoming students who live and work in India, at the time of admission to the Full-Time MBA Program, and are committed to advancing the interests of women in business. This award recognizes students with outstanding leadership, academic, and extracurricular achievements.

The James M. Kilts Marketing Fellowship - Marketing Fellowships are aimed at attracting the best and brightest future marketers to Chicago Booth. Each year, five to eight Marketing Fellowships are awarded to students pursuing a career in marketing and who plan to concentrate in marketing management. The Marketing Fellowship provides $25,000 in tuition, per year, for two years. Students will receive a fellowship in the name of a senior executive sponsor and will be mentored by their sponsor over the course of their MBA program.

O'Brien Fellowship
The O'Brien Fellowship provides a $25,000 tuition award to one student for the first year of study. In addition to having ties to the state of Minnesota (education, work, family), students must demonstrate outstanding leadership, academic, and extracurricular achievements. 

Akhtarali H. Tobaccowala Fellowship
Students who receive the award will be designated Akhtarali H. Tobaccowala Fellows in memory of the 1952 graduate of Chicago Booth. The fellowship will be available to students in Booth's Full-Time MBA program whose primary home is in India at the time of admissions. All admitted students who meet the criteria will automatically be considered. 

The Wallman Fellowship
The Wallman Fellowship provides full tuition for two years to students demonstrating outstanding leadership, academic, and extracurricular achievements and a commitment to advancing the interests of women in business. There is a strong preference for women from underrepresented minority groups.

Yellow Ribbon Program
Chicago Booth is delighted to participate in the Yellow Ribbon Program which is an additional enhancement of the Post 9-11 Veteran's Educational Assistance Act of 2008, which allows institutions of higher learning in the United States to enter into an agreement with the Veterans Administration (VA) to fund tuition expenses that exceed the highest public in-state undergraduate tuition rate. Yellow Ribbon awards are available to all veterans at Chicago Booth who qualify under the VA guidelines. Chicago Booth will offer $10,000 per year in Yellow Ribbon scholarship support and the VA will provide up to $10,000 in additional funding. 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 Donna Swinford. Read more about our admissions policies for US Military Personnel here.

The Zonis Fellowship
The Zonis Fellowship provides $25,000 in tuition per year for two years to an international student from an emerging economy, demonstrating outstanding leadership, academic, and extracurricular achievements. 

Corporate Fellowships

Corporate fellowships, in addition to offering financial assistance, are structured to foster long-term career mentoring relationships with corporate executives. Decisions on corporate fellowships may be made in collaboration with sponsors. All fellowships are renewable for two years.

Corporate fellowships are awarded only after each round’s final admission decisions. There is no formal application process for corporate fellowships; the Admissions Committee will identify those students who have not only excelled in several areas, such as academics, work experience, and service to the community, but who also fit very specific criteria set forth by the sponsors.

Full-Time admitted students are eligible for the following Corporate Fellowships:

Robert W. Baird Fellowship
The Robert W. Baird Fellowship ($25,000 per year) is awarded to talented students in the MBA program who are pursuing a career in finance and are committed to advancing the interests of women in business.

Canfield Private Equity Fellowship
The Canfield Private Equity Fellowship ($30,000 per year) will be awarded to two students who have prior investment banking or private equity experience and plan to pursue a career in private equity. Successful candidates will have demonstrated leadership potential, past academic achievement, and a track record of professional accomplishments. The award also includes an internship with a private equity firm as well as mentorship from Chicago Booth faculty.