Why You Should Read This
You’ve likely wondered: “Is there any MBA scholarship that covers both tuition and living costs?”
Yes—though rare, several top-tier scholarships do exactly that.
In this post, you’ll discover:
- ✅ The most prestigious fully funded MBA scholarships for international students in 2025
- ✅ What “fully funded” truly means (tuition, stipend, travel, etc.)
- ✅ How to choose among multiple awards, based on your profile and location
- ✅ Step-by-step tactics to maximize your chances of winning
- ✅ Common pitfalls and FAQs you can’t ignore
By the time you finish reading, you’ll have a clear roadmap to apply for high-value MBA funding—and possibly eliminate the financial barrier to your dream business school.
What Does “Fully Funded MBA Scholarship” Mean?
Before we jump into specific programs, let’s clarify what “fully funded” typically covers—and what to watch out for.
What a Fully Funded MBA Scholarship May Cover
A genuine full funding package usually includes:
| Expense Type | Typical Coverage | Notes / Caveats |
|---|---|---|
| Tuition & fees | 100% of MBA program tuition | Some cover additional fees (e.g. activity, registration) |
| Living stipend / housing | Monthly stipend or housing allowance | May vary by city / region |
| Travel / relocation | One-time travel cost, airfare | Sometimes both directions (home ↔ program) |
| Health insurance / medical | Full or partial coverage | Often required for visa compliance |
| Books / materials | Allowance or reimbursement | Some require receipts |
| Internship / global trips | Funding or support for global components | Especially for MBA programs with required global residencies |
Note: Not every “full scholarship” includes all of these. Some may exclude travel or stipend or require a supplemental award for living costs. Always verify what is included for each scholarship.
Also, the cost of living in your MBA city matters a lot. In the U.S., for example, annual living expenses (housing, food, transport) can range from $16,000 to $40,000, depending on the city and standard of living. (AdmitStreet)
Thus, a “full tuition” award might still leave you with gaps unless the scholarship includes a living stipend. As Stacy Blackman notes, “a full-tuition scholarship at one school might still cost more overall than a partial scholarship at another, depending on location and other factors.” (stacyblackman.com)
How to Pick Scholarships that Actually Pay Living Costs
To filter the hundreds of MBA scholarships out there, you need sharp criteria. Here’s how to evaluate:
Must-have filters
- Stipend / living allowance included — Some scholarships cover tuition only.
- Travel / relocation support — Especially important for international students.
- Renewable / multi-year support — For 2-year MBA programs, funding must last through both years.
- No citizenship or regional restrictions (or inclusive of your country).
- No unrealistic quotas or “special condition” clauses.
Ranking criteria (tie-breakers)
- Prestige & alumni network
- Flexibility (you can use funding for electives, exchange)
- Additional perks (leadership development, mentorship)
- Application difficulty (some require interviews, essays, extra test scores)
Top Fully Funded MBA Scholarships (2025) You Should Apply For
Below is a curated list of high-impact scholarships that, as of 2025, either already do or intend to cover both tuition and living costs. (Always verify the current edition.)
1. Oxford Pershing Square Graduate Scholarship (Oxford University, UK)
- Offered by the Pershing Square Foundation
- Coverage: Tuition plus living costs
- Up to 6 awards available to international students for MBA and other master’s programs (ScholarshipBob)
- Particularly attractive for students combining an Oxford MBA with an initial master’s year in the “1+1” programs
- This is among the most generous awards—rarely do scholarships fully fund MBA + living in the UK
Tips:
- Demonstrate leadership, public impact, and alignment with foundation mission
- Apply early, because demand is fierce
2. Knight-Hennessy Scholars at Stanford
- Though not MBA-specific, many Knight Scholars use the funding to pursue MBA at Stanford
- Coverage: Full tuition + stipend + travel + health insurance
- Extremely competitive — selection based on leadership, civic impact
- Applicants apply to both Knight and their school (Stanford GSB) concurrently (ScholarshipBob)
Tips:
- Emphasize global vision, community impact, and ability to lead across disciplines
3. Harvard (Boustany / Harvard MBA Scholarships)
- Harvard offers various merit and need-based awards for MBA students
- The Boustany MBA Harvard Scholarship is often cited as covering the full $102,200 tuition for the two-year MBA program. (Scholarship Roar)
- In addition, Harvard provides financial aid packages that consider personal assets, income and background—some students receive full tuition coverage. (https://www.educations.com)
- Internship travel & accommodation support is often built into certain awards. (Scholarship Roar)
Tips:
- Submit detailed financial aid workbooks, including personal assets
- Demonstrate leadership, community engagement, or public service
4. Michigan Ross MBA Scholarships
- All candidates are automatically considered for merit scholarships (including full tuition) when admitted. (iMpact Web Portal)
- Many of these scholarships are renewable for year 2
- While Ross primarily covers tuition, some awards or internal fellowships may include funds for living costs (check your package)
Tips:
- Highlight strong GMAT, leadership, and community contributions
- If awarded partial tuition, negotiate or request supplementary funding
5. LBS / London Business School & SARI Foundation Trust Scholarships
- London Business School offers SARI Foundation Trust Scholarships which provide 100% of tuition for international MBA candidates. (Yocket Study Abroad)
- While many LBS scholarships cover tuition only, students often combine them with outside stipends or personal savings
- LBS also has Need-based funding for some applicants
Tips:
- Seek additional external stipends or grants if tuition is the only covered cost
- Use campus finance / alumni networks to identify small living stipends
6. Hult International Business School Scholarships
- Offers merit-based and need-based awards to incoming MBA students. (Hult International Business School)
- Some awards may include partial living cost support
- Especially helpful if you choose campuses with lower cost of living
Tips:
- Demonstrate strong academic & extracurricular profile
- Contact financial aid office to ask if your award can be supplemented
7. MPOWER MBA Scholarship
- MPOWER Financial, which finances international students, offers a $10,000 scholarship for eligible MBA students. (Mpower Financing)
- Note: This is not full funding—more of a top-up or partial award
- But if you already have a full tuition scholarship except living, this could help bridge gaps
Tips:
- Use MPOWER only as a supplement, not primary funding
- Stack with other awards to cover living expenses
8. Laidlaw / Weidenfeld-Hoffmann Scholarships (Oxford)
- Laidlaw Scholarship (for women) supports Oxford MBA candidates with full funding. (Yocket Study Abroad)
- Rewley Scholarship covers MBA and EMBA programs at Oxford including living allowances. (Yocket Study Abroad)
- Weidenfeld-Hoffmann awards cover living costs (at least €19,237) for Oxford candidates. (Yocket Study Abroad)
Tips:
- Emphasize leadership, global goals, and ethical impact
- For female applicants to Oxford, Laidlaw is worth special consideration
Comparative Table: Top MBA Fully Funded Scholarships (2025)
| Scholarship / Program | University / Affiliates | Coverage (Tuition + Living?) | Additional Benefits | Unique Notes / Requirements |
|---|---|---|---|---|
| Oxford Pershing Square | University of Oxford | ✅ Yes — tuition and living | Travel, mentorship, global network | Only ~6 awards per year |
| Knight-Hennessy | Stanford | ✅ Full support (tuition, stipend, travel) | Leadership training, mentorship | High competition; multi-disciplinary |
| Harvard (Boustany & others) | Harvard Business School | ✅ Many full and partial awards | Internship support, travel | Need + merit based |
| Michigan Ross | University of Michigan | ✔️ (primarily tuition) | Renewability, internal fellowships | May need additional funding for living |
| LBS / SARI Foundation | London Business School | ✔️ (tuition fully) | — | May require outside supplement for living |
| Hult International | Hult | ✔️ (merit / need awards) | — | Varies by campus/location |
| MPOWER MBA | MPOWER / partner schools | ❌ (partial, $10,000) | — | Serves as top-up, not full funding |
| Oxford Laidlaw, Rewley, Weidenfeld | University of Oxford | ✅ Yes — includes living costs | Leadership development | Targeted awards (e.g. women) |
Step-by-Step Strategy: How You Can Win a Fully Funded MBA Scholarship
Winning one of these awards is as much about strategy as it is about credentials. Here’s a battle-tested roadmap:
Step 1: Start Early & Research Thoroughly
- Many top scholarships have deadlines 12–18 months before your MBA start date.
- Make a spreadsheet to track scholarships, deadlines, requirements, and status.
- For each program, read past recipients’ profiles (many schools publish them).
Step 2: Build a Strong Profile
Your profile should be not just good, but exceptional. Focus on:
- Leadership / impact: Initiatives, volunteering, entrepreneurship
- Academic excellence: High GPA, strong GMAT/GRE
- Work experience with results: Show promotions, measurable impact
- Global / cross-cultural experience: Especially for international scholarships
- Clarity of goals & vision: Why MBA? Why now? Why that school?
Step 3: Craft Stellar Essays & Leadership Narratives
- Align your goals with the mission of scholarship’s donor or foundation
- Tell stories, not generic statements
- Use numbers (e.g. “I increased revenue by 25% in 6 months”)
- Emphasize resilience, growth from hardship
Step 4: Secure Excellent Recommendations
- Choose recommenders who truly know you
- Provide them with a “brag sheet” to highlight metrics, results
- Ask for qualitative elements (leadership, growth, potential)
Step 5: Prepare for Interviews
- Many top scholarships include an interview round
- Practice behavioral and case-style questions
- Be ready to discuss your social impact, community engagement, future goals
Step 6: Apply Broadly (but Selectively)
- Don’t pin all your hopes on one big scholarship
- Apply to both large, generous and smaller ones
- Leverage smaller ones to supplement living costs
Step 7: Negotiate / Appeal After Admission
- If you receive partial funding, ask for more—present your other offers
- Show budget gaps (living cost estimates, rent, visa expenses)
- Some schools grant discretionary funds if requested early
Common Questions (FAQ)
Q: Are there many scholarships that cover both tuition and living costs?
A: No. These are rare and highly competitive. Many MBA scholarships cover tuition only. Your best odds are targeting top awards like Oxford Pershing, Knight-Hennessy, or robust financial aid packages at Harvard, which may include living support.
Q: Can I combine multiple scholarships to reach full funding?
A: Yes. You can stack partial awards, employer sponsorships, or loans with scholarships. For example, a full-tuition award + living stipend from one source or a top-up scholarship (like MPOWER) can bridge gaps.
Q: Do I need to apply separately for scholarship and MBA admission?
A: It depends. Some schools automatically consider all applicants (e.g. Ross). Others require separate scholarship applications, essays, or interviews (e.g. Knight-Hennessy). Always check the instructions.
Q: What visa / immigration risks apply to scholarship recipients?
A: Scholarship funding must often comply with student visa rules in your host country (e.g. taxation, stipend limits, reporting). Make sure your award letter and funding source align with visa regulations.
Q: How do living cost differences affect “full funding”?
A: A stipend that is generous in a lower-cost city may fall short in New York or London. Always estimate housing, food, transport, health insurance in your host city and compare to stipend.
Q: If my country is “restricted / high risk,” do some scholarships exclude me?
A: Possibly. Some scholarships require additional deposits, partial payments, or special approval for applicants from certain countries. E.g. Brunel’s MBA scholarship requires deposit and partial payment for high-risk countries. (Brunel University)
Tips & Hacks You Can Use Today
- Use keyword research tools to find hidden scholarships. (This post itself is SEO-focused.)
- Join MBA Facebook / WhatsApp groups for alerts on new scholarships
- Talk to alumni or current students—they often know insider scholarship tips
- Write a “future impact plan” showing how you intend to give back (many donors love that)
- When admitted, negotiate your scholarship—some schools will increase if you make a compelling case
Conclusion: Is a Fully Funded MBA Within Your Reach?
Yes—it’s ambitious, but not impossible. The top awards do exist and do cover full tuition and living costs. Your job is to:
- Target the right scholarships (not all are equal)
- Position your profile strategically
- Apply early, broadly, and smartly
- Negotiate and supplement gaps
Even if you don’t win the largest scholarship, you may land a full-tuition award and then stack smaller grants or stipends to cover living costs.
You don’t have to be a unicorn—but you do have to tell a compelling story, show impact, and demonstrate readiness for global leadership.
If you like, I can help you tailor your scholarship search to your country (Nigeria, for instance) or build a list of 20 awards most likely to accept you. Want me to go ahead with that?
