There are two basic types of business school grants: grants that are awarded by a business school and grants that are awarded by the federal government.
There are a surprising number of business school grants available through the federal government. These grants typically go by names like the Federal Pell Grant and the Federal Supplemental Education Opportunity Grant.
The size of these grants, as well as the availability, can vary depending on the time you apply, your level of need and other factors.
MBA students are not eligible for any of the broad-based grants available from the federal government; these grants are only awarded to undergraduate students.
Most business schools have business school grants to award to students who have merit or need. Some schools call them grants; others call them fellowships or scholarships.
The size of these grants, as well as the availability, can vary depending on the school. Some business schools have large grant funds and others do not.
School-based grants are almost always available to both undergraduate students and MBA students alike.
How to Get Business School Grants
Most business school grants are awarded on a first come, first serve basis. This is especially true of school-based grants. To get the most grant money possible, it is a good idea to ask for it early.
Start by filling out the FAFSA. Next, contact your business school's financial aid office and inquire about grant money, scholarship money, or any other type of financial aid that doesn't have to be paid back.
Business school grants may not be heavily advertised, but they are available to students who seek them out.