These exorbitant cost estimates are now standard at the best private schools and even some public universities, but they still do not account for all of the costs that many people overlook. These involve opportunity costs, which economists define as the costs of foregoing one thing in favor of another.
In this regard, $400,000 may appear to be a more accurate representation of the true cost of a prestigious MBA degree. Why? This is due to the opportunity cost of leaving a well-paying job for two years, which drives total costs well above tuition, fees, and living expenses at Harvard and similar universities; students at those schools typically leave jobs that pay more than $85,000 per year.
List of MBA scholarships for Women and Africans
Arizona State University W. P. Carey Forward Focus MBA Scholarship
- Amount: Up to full resident tuition of $62,033 per year
- Deadline: Same as admissions deadline
- Who Should Apply: Arizona State University MBA candidates
- About the Donor: All accepted full-time ASU MBA students can apply for this full scholarship covering their total tuition, regardless of their financial situation. Arizona State University’s W. P. Carey School of Business believes that scholarships are much more than just money for school. Scholarships are an investment in students, their dreams, and their shared future.
University of Florida Warrington College of Business
- Amount: Varies
- Deadline: Same as admissions deadline
- Who Should Apply: University of Florida Full-Time MBA Applicants
- About the Donor: The Fannie Mae MBA Term Scholars Fellowship, the Frank L. Weyenberg MBA Scholarship Fund, the Wells Fargo Scholarship and Internship Fund, the Richard and Velia Parrino Graduate Student Endowment, the M. Ann O’Brien MBA Scholars Endowment Fund, and the Hoke T. Maroon MBA Fellowship Endowment are all available to MBA students at the University of Florida Warrington College of Business.
San Francisco Bay University’s President’s Scholarship – Master’s Degree
- Amount: 100 percent tuition scholarship of $16,200 for entire degree
- Deadline: Same as admissions deadline
- Who Should Apply: San Francisco Bay University’s MBA applicants. Applicants must be applying for a master’s degree in business administration (MBA), electrical engineering (MSEE), or computer science (MSCS)
- About the Donor: This president’s scholarship is available to applicants pursuing a master’s degree at San Francisco Bay University. Because the scholarships are limited in number, early applications are strongly encouraged. Notably, SFBU also offers a president’s scholarship for bachelor’s degree applicants, a president’s scholarship for California Community College transfer students, and a housing scholarship that covers full tuition and free university housing.