A scholarship can reduce the cost of an MBA substantially and also signals to future employers that a school saw something special in you. But scholarships are competitive, their rules vary, and many close early. A little planning makes a big difference.
Types of scholarship
Merit scholarships
Awarded for academic results, professional achievement and leadership potential. Many schools offer these to their strongest applicants, often assessed as part of the main application.
Women in leadership
Many business schools offer scholarships to increase the number of women in their MBA cohorts and in senior leadership. Some are funded by companies or alumni.
Not-for-profit and public sector
Some schools support people working for charities, social enterprises, community organisations or government, often with a commitment to apply learning in that sector.
Indigenous scholarships
Many universities offer scholarships and dedicated support for Aboriginal and Torres Strait Islander students. Ask the school's Indigenous education unit as well as the business school.
Regional and rural
Some programs support students from regional or remote areas, or those working in agriculture and regional industries.
Industry and employer-funded
Companies and industry bodies sometimes fund scholarships for students from their sector. Professional associations may also offer study grants to members.
International
International students may find school-funded scholarships, home-government scholarships, or Australia Awards scholarships for people from eligible partner countries. Each has specific eligibility rules.
How to find them
- Start with the school. Every business school publishes its scholarships, usually on the MBA or admissions pages. Note amounts, criteria and deadlines.
- Ask admissions directly. Some scholarships are not widely advertised. Ask what is available for someone with your background.
- Check your employer and professional body. Many offer study support.
- Search government sites. Study Australia and DFAT list government-funded scholarships for international students.
- Look at the university as a whole. University-wide scholarships, for example for Indigenous or regional students, may be open to MBA students.
Writing a strong application
Answer the criteria. Read the selection criteria carefully and address each one directly, with evidence.
Tell a clear story. Explain where you have come from, what you have achieved and where you want to go. Show how the MBA connects those points.
Show impact. Use specific examples of results you achieved, people you led and problems you solved. Numbers help.
Show contribution. Many scholarships want students who will give back to the cohort, the school or their community. Explain how you will.
Get feedback. Ask a colleague or mentor to read your application before you submit.
Submit early. Late or rushed applications rarely win.
Interviews
Some scholarships, especially larger merit and leadership awards, include an interview. Prepare as you would for a job interview. Be ready to explain your career so far, your goals after the MBA, why you chose this school and how you will contribute to the cohort. Have two or three specific examples of leadership or impact ready, and think about how you have handled setbacks. Ask the panel a thoughtful question at the end.
Things to check
- What is covered? Some scholarships cover tuition only, others contribute to living costs or study tours.
- Is it paid up front or per unit? Many are paid as fee reductions each term.
- What are the conditions? Some require you to maintain a grade average or study load.
- Is there a service commitment? Some sector scholarships ask you to keep working in that sector.
- How does it interact with other funding? Check the effect on FEE-HELP borrowing and employer support.
Tax
Whether a scholarship is taxable depends on its type and your circumstances. If your employer pays some or all of your fees, that may also have tax consequences, including fringe benefits tax for the employer. Get advice from a registered tax agent. See also our FEE-HELP and tax guide.
Scholarship plan
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A scholarship timeline
Twelve months ahead. Research programs and list scholarships at each school, with criteria, amounts and deadlines. Talk to your employer about support.
Nine months ahead. Prepare your CV, request transcripts and line up referees. Take the GMAT or GRE if a program or scholarship requires it.
Six months ahead. Draft your personal statement and scholarship essays, and ask a mentor for feedback.
Three to four months ahead. Submit applications in the earliest round you can, especially where scholarships are assessed in early rounds.
After an offer. Read scholarship conditions carefully before you accept, and confirm how payments are made.
If you don't win one
Many students fund their MBA without a scholarship. Combine employer support, FEE-HELP for eligible domestic students, part-time study to spread the cost, and a Graduate Certificate first to test the water. Some schools also offer discounts for alumni or early enrolment. Ask what is available.
Frequently asked questions
Do scholarships cover living costs?
Most MBA scholarships are fee reductions. A few contribute to living costs, travel or study tours. Read the terms to see exactly what is covered and how it is paid.
Can part-time and online students get scholarships?
Often, yes. Many schools offer scholarships across formats, although some are restricted to full-time or on-campus students. Check eligibility for each award.
Will a scholarship affect my FEE-HELP?
A fee scholarship reduces the tuition you owe, so you would borrow less through FEE-HELP. Check with the school how the scholarship is applied to your account.
Are full MBA scholarships available in Australia?
Full-fee scholarships do exist but are rare and highly competitive. Most scholarships cover part of the fees. Check each school's scholarship pages for current amounts.
When should I apply for an MBA scholarship?
Early. Many scholarships close before or with the main application deadline, and some are only open to applicants in an early round.
Can I apply for more than one scholarship?
Usually, yes. Check whether a school allows you to hold more than one at once, and whether scholarships affect FEE-HELP or employer support.
Do international students get MBA scholarships?
Some schools offer scholarships for international students, and some governments fund study abroad. Australia Awards scholarships are offered to people from eligible partner countries. Check eligibility carefully.
Sources and further reading
Facts on this page were checked against these primary and official sources. Conditions change — confirm before you travel or buy.
- Australia Awards Scholarships — Department of Foreign Affairs and Trade
- Study Australia – Scholarships — Australian Government
- Self-education expenses — Australian Taxation Office
- FEE-HELP — Study Assist, Australian Government
