Earning an MBA is a big investment. At the Ross School of Business, we're committed to making that investment as affordable as possible while providing a lifetime of ROI. Learn more about the wide-ranging scholarship opportunities available to qualified admitted students.
When you apply to the Full-Time MBA Program, you're automatically considered for merit-based scholarships. If you are selected to receive a merit award, you will be notified upon admission.
- No separate application is required.
- Awards are based on academic ability, professional and personal achievements, and potential to contribute to our community.
- Scholarships range from $10,000 to full tuition.
Full-Tuition Scholarships
Dean’s Impact Scholars
Awarded to a highly select group of admitted students, this scholarship recognizes a student’s outstanding accomplishments and reflects our belief in their potential to create a positive impact in the world through business. In addition to a full-tuition scholarship, recipients of the Dean’s Impact Scholarship are awarded an annual stipend to support their educational travel, leadership development experiences, and non-tuition expenses.
Dean's Fellows
Admitted students selected as Dean's Fellows are awarded full-tuition scholarships. Fellows gain the opportunity to network with alumni senior leaders in a variety of industries and build unique connections with other fellows and faculty members throughout their Michigan Ross experience.
The following fellowships are distinctions attached to your merit-based scholarship that offer professional development and community-oriented opportunities.
Forté MBA Fellowship - Empowering Women in Business
The Forté Fellowship is a distinction attached to your merit-based scholarship that offers funding, professional development opportunities, and support to MBA applicants who demonstrate exemplary leadership and a commitment to Forté’s mission of empowering women in business. Michigan Ross has been a founding partner of the Forté Foundation since 2003.
The Consortium Fellowship
Michigan Ross has been a proud member of the Consortium for Graduate Study in Management since 1983. The Consortium is a continually growing and evolving alliance of some of the world’s leading graduate business schools and organizations that grants fellows access to exclusive resources and a powerful network. To be considered for this fellowship, applicants must submit their application to Michigan Ross through the Consortium. All Consortium admits are evaluated for a range of merit scholarship funding, up to full tuition.
Reaching Out MBA Fellowship
The Reaching Out MBA LGBTQIA2S+ Fellowship is a joint effort between prominent business school programs and Reaching Out to help develop future business leaders who are members or active allies of the LGBTQIA2S+ community. Each fellow receives a minimum $20,000 scholarship and access to leadership programming. Applicants will be awarded the ROMBA Fellowship upon admission.
Health Innovation Scholars
The Health Innovation Scholars designation offers tailored programming and the potential to earn a scholarship for applicants with an interest in healthcare. The designation includes: access to health-related alumni connections, professional development funding, and early access to events and programming. All applicants who list healthcare as their desired career interest are considered.
Tauber Institute for Global Operations Scholarships
The Tauber Institute for Global Operations, a partnership between Michigan Ross and the College of Engineering, offers a number of scholarships to students in the program. No separate application is required for this scholarship. All Tauber students are considered. Award recipients are notified of their selection after being admitted to the program.
Erb Institute Scholarships
The Erb Institute, a partnership between Michigan Ross and the School for Environment and Sustainability, offers various funding opportunities. For recruitment scholarships, you may apply once you have been admitted to either Michigan Ross or SEAS and have also submitted an application to the other school. Award notifications are typically issued within one month.
Rackham Graduate School Scholarships
Dual-degree students whose second program is administered through the Rackham Graduate School may be eligible for Rackham funding opportunities. These include merit-based scholarships, fellowships, and grants that help cover tuition, living expenses, or research costs. Most awards are program-nominated rather than self-applied, so students should check with their academic advisor or program coordinator for eligibility and nomination details.
Learn more about Rackham funding opportunities and explore Ross-established dual-degree programs.
The Ross Financial Aid Office also posts scholarship opportunities throughout the year. Some scholarships are need-based. Students are encouraged to complete the Free Application for Federal Student Aid (FAFSA) online at studentaid.gov/h/apply-for-aid/fafsa to be considered for all scholarships. Email notifications will be sent to you when scholarship opportunities are available.
Learn more about Full-Time MBA Tuition and Financial Aid.
Alumni Board of Governors Award - Merit, Community Service
The Alumni Board of Governors Award is a need-, merit-, and service-based scholarship for second-year Full-Time MBA students. One recipient is awarded $7,500. Eligible applicants must be enrolled full-time (9+ credits) as a second-year Full-Time MBA student at Michigan Ross, demonstrate strong academic performance, and show financial need with a current-year FAFSA on file at U-M Ann Arbor when the application opens.
Applicants must also have a proven record of community service and express a commitment to serving Ross as an alum. The scholarship application opens during the spring term (March/April), and recipients are announced in August/September. The application requires a personal statement and a current résumé.
Ross Community Impact Scholarship - Merit, Leadership
The Ross Community Impact Scholarship offers funding to first-year MBA students with strong academic records who contribute exceptional impact to the MBA community or their chosen field of study. Recipients receive up to $10,000 in scholarship during their second year of the program. For more scholarship details, please see the Ross Community Impact Scholarship Overview.
Israel at Michigan Ross: Harris Scholars and the Michelle & Corey Harris Family Israel Scholarship
Partial scholarship support is available to students who have completed secondary or post-secondary education in Israel and are pursuing their Full-Time MBA at Michigan Ross.
J. Ira Harris Merit Award
The J. Ira Harris Merit Award is presented annually to 25 Full-Time MBA students and does not require a separate application. Each year, 10 incoming first-year MBA students are selected to receive the award and will continue to hold it during their second year. In addition, five second-year MBA students are invited to receive the award, with each recipient receiving up to $7,500. Scholarship recipients are announced in August/September.
Eligible students must demonstrate financial need, as shown by a current-year FAFSA on file with the University of Michigan Ann Arbor at the time the application cycle opens, and must express a willingness to make a moral commitment to contribute back to the J. Ira Harris Tuition Fund in the years following graduation.
Skip and Carrie Gordon Scholarship - Impact
Second-year MBA students who demonstrate an outstanding commitment to pursuing ways to solve complex social problems can apply to the Skip and Carrie Gordon Scholarship. Two recipients are selected each year to receive $5,000.
The Leslie Adkins Endowed Scholarship - Consortium Fellows
The Leslie Adkins Endowed Scholarship is offered to qualified second-year MBA Consortium members who have not received a full-tuition Consortium fellowship. Past recipients of the Leslie Adkins Endowed Scholarship have typically received $10,000.
True Grit - Domestic and International Students
Partial and full-ride scholarships are made available to Full-Time MBA students who have demonstrated notable resilience in the face of adversity. Recipients may include students who are the first in their families to pursue a degree, those who have overcome personal obstacles, served in the military, or otherwise exhibited personal fortitude and resilience.
Yellow Ribbon Program - Military
Michigan Ross has proudly supported the Yellow Ribbon Program without a cap on the number of students or costs since 2009. The program covers unmet tuition needs for all 100% eligible, post-9/11 GI Bill students.
Zell Lurie Institute Scholarships - Entrepreneurship
The Zell Lurie Institute scholarship program is a merit-based scholarship program for rising second-year MBA students with an interest in entrepreneurship. Eligible students will have achieved a meritorious GPA in the first year of their program and will have demonstrated exemplary academic standing, strong entrepreneurial knowledge and interests, and engagement with courses, programs, and leadership.
Additional U-M Scholarship Support
You can find more support through the U-M Financial Aid website, including links to a variety of U-M scholarships and other private scholarship searches.
The Impact Advantage Student Loan Repayment Program provides up to $37,500 in loan support to Michigan Ross graduates pursuing careers in social impact across educational, governmental, and nonprofit sectors during the first five years post-graduation. Impact Advantage is open to qualified alumni of the Full-Time MBA Program who graduated in May 2021 or later.
The Impact Advantage application is currently closed at this time.
In this episode of our student-run podcast, three Ross students with military, international, and Consortium backgrounds discuss how they decided investing in a full-time MBA program was the right decision, how they’re paying for it, and what they think about their decision now that they’re here.
Featuring:
Students may be eligible for two types of federal government loans:
Federal Direct Unsubsidized Loan
| Eligibility Criteria | loan terms | Additional Information/Requirements |
|---|---|---|
| Non-need-based | Maximum borrowing amount $10,250 per semester | Borrower can choose to have the accrued interest capitalized (added to principal balance) or make periodic payments. |
| Student must be enrolled at least half-time in a degree program | Visit the Federal Student Aid website for the latest loan rate information. | No penalty for early pay off. |
| Borrower must be a U.S. citizen or eligible non-citizen | Interest accrues immediately; paid periodically or capitalized | Typical repayment period is 10 years (other repayment options available; such as, but not limited to, Income Driving Repayment Plans and Public Service Loan Forgiveness). |
| Principal repayment deferred while enrolled at least half-time | May be eligible for Ross Loan Repayment Assistance Programs. | |
| Can be consolidated with other federal loans | ||
| More information is available from the U.S. Department of Education |
To apply for your federal Direct Unsubsidized Loan, complete the Free Application for Federal Student Aid (FAFSA) using U-M's federal code 002325. This can be completed online at studentaid.gov or by downloading the mobile app myStudentAid.
The FAFSA is available on Oct. 1 at no cost to students. Although we recommend you complete this by March 31, you can continue to apply after this date.
Private Loans
Private student loans are offered through a variety of banks and other lenders. Students seeking private loans must apply separately from their financial aid application through an individual lender. The best rates on these loans are generally offered to borrowers with good credit and/or who have a cosigner with good credit.
When shopping for a private loan, look for a loan you can live with in both the short term and long term. You may be repaying it for multiple years after graduation. Many loan providers will lend up to the student’s cost of attendance minus any financial aid received. Often, there is a yearly and/or cumulative cap on the amount the student may borrow; sometimes this cap is set by the student’s school. Note that it takes an average of four weeks to process loans through our office.
If you are considering borrowing through a private lender, we encourage you to:
- Exhaust all other possible sources of financial aid first, including federal loans and work-study.
- Reduce your expenses and borrow only what you need.
- Ask questions and compare rates and terms offered by different lenders.
If you pursue a private loan, apply directly through the lender you select. Choose any lender, and the university will certify your application.
Beware of suspicious or unsolicited loan offers.
U-M students should avoid lenders that don't require U-M to certify their loan application and should be suspicious of unsolicited loan offers. The Michigan Student Financial Aid Association cautions students that "loan debt can accumulate quickly and result in a lifetime burden of high payments and credit denials for automobile purchases, credit cards, and home mortgages. Private loans can also reduce eligibility for more desirable federal, state, and college aid programs. To avoid these problems, read and understand the terms and conditions of all loans.
To browse a selection of approved lenders for domestic students, please visit:
University of Michigan's FASTChoice
International Students
Some U.S. lenders will provide private education loans for international students who have a qualified U.S. consigner. Some lenders require that the student have a Social Security number prior to applying.
To browse a selection of lenders, please visit the University of Michigan's FastChoice Private Education Loans websites for International MBA students:
Private Lenders - Requiring U.S. Co-Signer
Private Lenders - No U.S. Co-Signer
The University of Michigan has not endorsed these programs, but is making the information available to you.
The university adheres to a Code of Conduct for Student Loans that prohibits inducements or incentives by private lenders.
Short-term Tuition Reimbursement Loans
The Ross School of Business provides short-term loans to Executive MBA, Evening MBA, Online MBA, and Weekend MBA students whose employers provide tuition reimbursement only after a term is completed. The Ross Short-Term Tuition Reimbursement Loan has a 3% interest rate and a 0% loan origination fee.
Short-Term Loan information and application
Assistantships
Appointments for Graduate Student Research Assistantships, Graduate Student Instructors, and Graduate Student Staff Assistants are considered separately from the financial aid application process.
General Appointment Information
Graduate Student Appointment Postings
U-M Child Care Subsidy
The U-M Child Care Subsidy Program provides funds to students with children to assist in meeting the cost of licensed child care.
Loan Repayment Assistance Program
There are a variety of Michigan Ross and federal government programs that provide assistance to graduates of our degree programs who have taken out student loans while earning their degree at Ross.
The Michigan Ross Impact Advantage and LRAP programs provide educational loan repayment assistance to Ross graduates who are pursuing careers in the nonprofit or public sector.
These two Ross programs require an annual application, which opens early September and closes November 1.
To learn more about these two Ross programs and federal government loan repayment assistance programs, please email [email protected] or visit the Ross Financial Aid iMpact webpage.
Federal Aid for Graduate International Students
Federal regulations and University of Michigan policy limit the types of U.S. federal financial assistance available to international students. Specifically, international students with F-1, F-2, J-1, J-2, and G series visas are not eligible for federal student aid.
You may qualify for student financial aid programs if you meet one of the following criteria:
- If you are a U.S. permanent resident with an Alien Registration Receipt Card (I-151, I-551, or I-551C). Note: If you have only a Notice of Approval to Apply for Permanent Residence (I-171 or I-464), you are not eligible for federal student aid.
- If you are a U.S. national (includes natives of American Samoa or Swain's Island).
- If you are an eligible noncitizen with an Arrival-Departure Record (I-94) from U.S. Customs and Border Protection showing one or more of the following designations:
- Refugee
- Asylum granted
- Indefinite parole and/or humanitarian parole
- Cuban-Haitian entrant, status pending
- Conditional entrant (valid only if issued before April 1, 1980)
If you meet the above criteria, you may qualify for federal assistance.
Private Educational Loans
Some U.S. lenders will provide private education loans to international students who have a qualified U.S. cosigner. Other lenders will provide loans to international students who do not have a U.S. co-signer. Some lenders may also require that the student have a Social Security number prior to applying.
To browse a selection of lenders, please visit the University of Michigan's FastChoice Private Education Loans webpages for International MBA students:
Private Lenders - Requiring U.S. Co-Signer
Private Lenders - No U.S. Co-Signer
The University of Michigan has not endorsed these programs, but is making the information available to you. The university adheres to a Code of Conduct for Student Loans that prohibits inducements or incentives by private lenders.
Other Possible Funding Sources:
For information about financial aid and private scholarships for international students, contact:
- The U.S. Department of State
- The Consulate or Embassy of your home country
- If you have been admitted to U-M, contact your program office for other possible funding sources.
Chapter 33/Post-9/11 GI Bill Program
Ross is proud to support our veterans and military members.
The University of Michigan offers in-state tuition status to those who serve. You must apply and provide the appropriate supporting documentation. Information is located on the University of Michigan Office of the Registrar's website in the residency section. Here are some additional sources of information:
University of Michigan Veterans and Military Services Program
University of Michigan VA educational benefits information
Veterans benefits certification policies and procedures
Scholarships for veterans, service members, and dependents
Note: Executive MBA students pay a set inclusive tuition that includes tuition for courses, mandatory fees, plus other non-academic costs (books, technology, accommodations during residence, and dining). Chapter 33 will cover tuition for courses and mandatory fees only. Chapter 33 will also pay a monthly housing allowance to the student; the remaining nonacademic costs (books, technology, accommodations, and dining) are the student's responsibility.
School Certifying Officials for VA Benefits
Office of the Registrar
Veterans Certification Department
500 S. State Street
LSA Suite 5000
Phone: (734) 763-9066
Fax: (734) 764-5556
