A host of organizations offer grants to women seeking MBA degrees.
Despite great strides in the last decade, women are still underrepresented in top Master of Business Administration programs. The make up only about 30 percent of those enrolled in MBA programs while accounting for about 50 percent of the U.S. population. The picture is bleaker for minorities, who represent a third of the U.S. population but only 7 percent of MBA students. So, when it comes to minority women enrolled in top MBA programs, the conclusion should be obvious: They are a relatively small segment. That's why it's no surprise that MBA grants for minority women still exist.
Minority Associations
For every racial minority in the U.S. there exist numerous associations that represent and advocate on behalf of that particular ethnic group, whether it be African Americans, Asian Americans, Hispanics or American Indians. Some may offer MBA grants to women in that group. Find them and inquire about membership and/or opportunities. For instance, the National Society of Hispanic MBAs offers MBA grants for qualifying Hispanics, including women. The National Black MBA Association awards scholarships to MBA students of African American descent.
Women's Groups
For as long as women continue to be underrepresented or disadvantaged in any sector of society, be it social, economic, or professional, women's groups will abound. Many women's professional groups seek to close the gap between male and female representation in traditionally male-dominated industries, including business. The American Association of University Women offers a number of educational grants for women, one of which -- the Selected Professions Fellowships -- offers tuition grants to minority women seeking to pursue an MBA. The Financial Women's Association of New York offers scholarships to women pursuing MBA programs in NYC.
Professional Associations
Many professional associations promote the interests of workers in a particular field, including business. A number of them seek to increase female representation in a particular industry, especially male-dominated ones such as business. The Educational Foundation for Women in Accounting offers a one-year scholarship for minority women pursuing accounting careers. The Committee of 200 (C200) offers Scholar Awards to women pursing an MBA.
Private Universities
In an effort to beef-up diversity on campus, many private universities with MBA programs offer grants to minority women, given their traditionally low representation in this field. Before you apply to an MBA program, inquire about grants and special opportunities for minority women.
Non-Traditional Women's Interest Groups
Some associations promote the interests of socially or economically disadvantaged women, a high percentage of which are minorities. The Philanthropic Educational Organization Program for Continuing Education provides need-based grants to women whose education has been interrupted and who find it necessary to return to school to support themselves and/or their families. The Women's Independence Scholarship Program assists battered women to obtain an education so that they may achieve self-sufficiency.
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