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 over 200 merit-based scholarships, and will be notified of any awards 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.
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.
Health Innovation Scholars Program - Healthcare
The Health Innovation Scholars Program offers scholarships to MBA applicants with an interest in healthcare. The program includes: a full-tuition scholarship, professional development funding, and alumni and cohort networking. No separate application is required. All applicants that list healthcare as their desired career interest are considered.
Forté MBA Fellowship - Gender Equity
The Forté Fellowship offers funding opportunities and other support structures to MBA applicants of any gender identity who demonstrate exemplary leadership and a commitment to Forté’s mission of launching women into fulfilling, significant careers through access to business education, opportunities, and a community of successful women. Michigan Ross was a founding partner of the Forte Foundation in 2003.
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.
The Consortium - African or Black Americans, Hispanic Americans, American Indians
This merit-based scholarship is awarded to applicants who have demonstrated dedication to The Consortium For Graduate Study in Management's mission of increasing the representation of Black, Hispanic, and American Indian students in American business schools and corporate management. The fellowship is available to all U.S. citizens or permanent residents, regardless of race or ethnicity. All students who apply through The Consortium are eligible for a Consortium Fellowship or a Michigan Ross scholarship.
ROMBA LGBTQIA2S+ Fellowship - LGBTQIA2S+
Through Reaching Out, the ROMBA Fellowship provides funding and access to leadership programming to future LGBTQIA2S+ business leaders. Interested students should contact Reaching Out to let them know of their interest in applying for the fellowship. After you receive your offer of admissions from Michigan Ross and offer of fellowship, Ross will notify Reaching Out of its selected fellows.
Tauber Institute for Global Operations Scholarships - Operations
The Tauber Institute for Global Operations 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 selection after admission to the program.
Erb Institute Scholarships - Environmental Sustainability
The Erb Institute offers various funding opportunities. For recruitment scholarships, you may apply once you have been admitted to either Michigan Ross or the School for Environment and Sustainability, and have submitted an application to the other school. Award notifications are usually made within a month.
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, or those who have overcome personal obstacles, served in the military, or otherwise exhibited personal fortitude and resilience.
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.
The Alumni Board of Governors award is a need, merit, and community service award. An application is required. One second-year MBA student is selected to receive $7500.
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. Students interested in applying can contact roassadmissions@umich.edu.
McGowan Fellowships are awarded to eligible second-year MBA students who are in the top 5% of their class, are non-dual degree students, and meet other qualifications. Recipients will receive a full-tuition scholarship for the second year of their program.
The J. Ira Harris Merit Award is given to students selected by the MBA program. No application is required. Ten second-year MBA students are selected to receive $5,000 each.
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 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.
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.
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 May 2021 or after.
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.
Federal Direct Grad PLUS Loan
| Eligibility Criteria | loan terms | Additional Information/Requirements |
|---|---|---|
| Credit check approval process | Students may borrow up to the cost of attendance minus other financial assistance | Borrower must first complete the Free Application for Federal Student Aid (FAFSA) |
| Non-need-based | Visit the Federal Student Aid website for the latest loan rate information. | Borrower can choose to have the accrued interest capitalized (added to principal balance) or make periodic payments. |
| The graduate student is the borrower | Interest accrues immediately; paid periodically or capitalized | No penalty for early pay off. |
| Student must be enrolled at least half-time in a graduate-level program | Loan is deferred while you are enrolled at least half-time and for an additional six months after you are no longer enrolled at least half-time. Interest accrues during deferment; you may pay accrued interests or allow it to capitalize when deferment ends. Details at the U.S. Dept. of Education | 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). |
| Borrower must be a U.S. citizen or eligible non-citizen | 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 |
Students apply separately for the Grad PLUS Loan in addition to completing a FAFSA if additional funds are needed to cover remaining tuition and/or other cost of attendance items. Students may borrow up to the amount of their cost of attendance, minus any other financial assistance a student receives. Note that it takes an average of four weeks to process loans through our office.
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 also can 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. co-signer. 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 rossfinaid@umich.edu 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. co-signer. 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 nonacademic 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
