How to Apply for Rice Online MBA Scholarships

Are you interested in pursuing an online MBA degree from one of the top business schools in the country? Do you want to learn from world-class faculty, network with diverse and accomplished peers, and gain the skills and knowledge to advance your career? If yes, then you might want to consider applying for the Rice Online MBA program.

The Rice Online MBA program is a flexible and rigorous option for working professionals who want to earn an MBA degree from a prestigious institution without relocating or quitting their jobs. The program offers a comprehensive curriculum that covers core business topics, such as accounting, finance, marketing, strategy, and leadership, as well as a wide range of electives that allow students to customize their learning experience. The program also incorporates immersive field experiences, such as residential sessions and global trips, that enable students to apply their learning in real-world contexts and interact with their classmates and faculty face-to-face.

However, pursuing an online MBA degree from Rice is not cheap. The tuition for the 2023–24 academic year is $2,130 per credit, and students are required to complete 54 credits, totaling $115,020 for the entirety of the program. The tuition for the 2024–25 academic year is $2,194 per credit, and students are required to complete 54 credits, totaling $118,500 for the entirety of the program. In addition, students have to pay for other expenses, such as books, travel, and lodging for the field experiences.

Fortunately, there are several scholarships available for prospective and current students of the Rice Online MBA program. These scholarships can help reduce the financial burden of pursuing an online MBA degree and make it more accessible and affordable for qualified candidates. In this article, we will provide an overview of the types of scholarships, the eligibility criteria, and the application process for the Rice Online MBA scholarships.

Types of Rice Online MBA Scholarships

There are two main types of scholarships for the Rice Online MBA program: merit-based scholarships and need-based scholarships.

Merit-Based Scholarships

Merit-based scholarships are awarded to applicants and students who demonstrate outstanding academic performance, professional achievements, leadership potential, and personal qualities. These scholarships are granted by the Jones Graduate School of Business at Rice University, which administers the online MBA program, as well as by external organizations and donors.

Some examples of merit-based scholarships for the Rice Online MBA program are:

• MBA@Rice Recruiting Scholarships: These scholarships are automatically considered for all applicants (domestic and international) to the online MBA program during the admissions review process. Recipients will be notified upon admittance. The amount and number of these scholarships vary depending on the quality and diversity of the applicant pool.
• Full Named Dean’s Endowed Scholarship: This scholarship covers the full tuition and fees for a student of the online MBA program. It is funded by an endowment of $2,000,000 and awarded to a new student on an annual basis. The selection is based on academic excellence, leadership potential, and contribution to the Rice community.
• Named Scholarship: This scholarship offsets the student tuition for the online MBA program. It is funded by an endowment of $100,000 and awarded to a new student on an annual basis. The selection is based on academic merit, professional achievements, and personal qualities.
• Sonnenberg Scholars Fund: This scholarship supports the tuition for exceptional students in the online MBA program. It is funded by donations of $10,000 or more and awarded to multiple students through the two-year MBA program. The selection is based on academic excellence, leadership potential, and contribution to the Rice community.

Need-Based Scholarships

Need-based scholarships are awarded to applicants and students who demonstrate financial need and meet the academic and professional standards of the online MBA program. These scholarships are granted by the Jones Graduate School of Business at Rice University, as well as by external organizations and donors.

Some examples of need-based scholarships for the Rice Online MBA program are:

• Rice Business Scholarship: This scholarship is awarded to students who demonstrate financial need and academic merit. The amount and number of this scholarship vary depending on the availability of funds and the number of qualified applicants. The application is open to all admitted and current students of the online MBA program.
• Rice Business Alumni Scholarship: This scholarship is awarded to students who demonstrate financial need and academic merit, as well as a strong connection to the Rice Business alumni community. The amount and number of this scholarship vary depending on the availability of funds and the number of qualified applicants. The application is open to all admitted and current students of the online MBA program.
• Rice Business Diversity Scholarship: This scholarship is awarded to students who demonstrate financial need and academic merit, as well as a commitment to advancing diversity, equity, and inclusion in the business world. The amount and number of this scholarship vary depending on the availability of funds and the number of qualified applicants. The application is open to all admitted and current students of the online MBA program who identify as members of underrepresented groups.

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Eligibility Criteria for Rice Online MBA Scholarships

The eligibility criteria for the Rice Online MBA scholarships vary depending on the type and source of the scholarship. However, some general requirements that apply to most scholarships are:

• Applicants must be admitted to or enrolled in the online MBA program at Rice University.
• Applicants must have a bachelor’s degree or equivalent from an accredited institution.
• Applicants must have a minimum of two years of full-time work experience.
• Applicants must have a competitive GMAT or GRE score or a waiver approved by the admissions committee.
• Applicants must have a strong academic record, professional achievements, leadership potential, and personal qualities.
• Applicants must submit a completed scholarship application form and any required supporting documents by the specified deadline.

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How to Apply for Rice Online MBA Scholarships

The application process for the Rice Online MBA scholarships varies depending on the type and source of the scholarship. However, some general steps that apply to most scholarships are:

• Research the available scholarships and their eligibility criteria, deadlines, and requirements.
• Complete the online application for admission to the online MBA program at Rice University, or log in to your student portal if you are already enrolled.
• Complete the online scholarship application form and upload any required supporting documents, such as transcripts, test scores, essays, letters of recommendation, resumes, etc.
• Submit your scholarship application by the specified deadline and wait for notification of the scholarship decision.

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Frequently Asked Questions

Here are some frequently asked questions and answers about the Rice Online MBA scholarships.

Can I apply for more than one scholarship?

Yes, you can apply for multiple scholarships as long as you meet the eligibility criteria and submit the required documents for each scholarship.

Can I combine scholarships from different sources?

Yes, you can combine scholarships from different sources as long as the total amount does not exceed the cost of attendance for the online MBA program.

How are the scholarship recipients selected?

The scholarship recipients are selected by the scholarship committee, which consists of faculty, staff, and alumni of the Jones Graduate School of Business at Rice University. The selection is based on a holistic review of the applicant’s academic performance, professional achievements, leadership potential, personal qualities, and financial needs.

When will I know if I received a scholarship?

The scholarship decisions are usually announced within four to six weeks after the scholarship application deadline. You will receive an email notification from the scholarship committee informing you of the scholarship decision.

How will I receive the scholarship funds?

The scholarship funds will be disbursed directly to your student account at Rice University. The funds will be applied to your tuition and fees for the online MBA program. If the scholarship amount exceeds your tuition and fees, you may receive a refund check from the university.

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Conclusion

The Rice Online MBA program is a great opportunity for working professionals who want to earn an MBA degree from a top-ranked business school without sacrificing their career or personal life. However, the program is also a significant financial investment that requires careful planning and budgeting. Fortunately, there are several scholarships available for prospective and current students of the online MBA program that can help reduce the financial burden and make the program more accessible and affordable. By researching the available scholarships, meeting the eligibility criteria, and submitting the application materials by the deadlines, you can increase your chances of securing a scholarship and achieving your educational and professional goals.