Scholarships

Finding the right scholarship

We know that funding your business school education can be challenging. To help you meet this challenge we offer a variety of different scholarships based on merit or financial need to newly admitted students, awarded at the time of admission. Scholarship opportunities for rising second-year students are also available.

Scholarship Spotlight: Austin Scholars & Finance Fellows

Austin Scholars

The F.C. Austin Scholarship is awarded to a select cohort of high-potential students within the Two-Year and MMM Programs. Austin Scholars are selected because they have demonstrated exceptional leadership in academic and professional endeavors and show promise of outsized impact at Kellogg and beyond. Applicants are considered for the Austin Scholarship based on their Kellogg application.

The Austin Scholarship is one of the largest scholarships that Kellogg offers. In addition to a generous scholarship, the F.C. Austin Scholars program also provides students with opportunities for leadership development and fellowship, including mentorship from three of Kellogg’s most revered faculty members, fireside chats with industry leaders and executives, and a rich community among their Austin cohort and the vast Austin Scholar alumni network.

Finance Fellows

Finance Fellows is a new, full-tuition scholarship for students in the Two-Year Program who are committed to making an impact in a finance industry or function. The Finance Fellows Program offers specific engagement opportunities with notable finance leaders and mentorship with Kellogg alums and faculty.

In order to be considered for Finance Fellows, candidates must complete an additional essay in the Financial Aid form. This form will become available on the applicant's status page after they submit their application. The following essay prompt will appear: “What excites you about finance? How do you plan to make an impact as you pursue a finance career after earning your Kellogg MBA?” (250 words). Applying to the Finance Fellows award is optional, and will not have any bearing on the review of your application to Kellogg. In order to be considered, the form must be completed by the indicated deadline.

Scholarships

We award scholarships to exceptional students who have demonstrated excellence in one or more areas of their applications. Admitted students are automatically considered for all scholarships for which they are eligible, with the exception of the Finance Fellows, which has a supplemental essay housed within your Kellogg application. Students are informed of scholarships at the time they are admitted. However, we encourage students to look outside of Kellogg for additional funding opportunities.

We award a variety of scholarships that include but are not limited to:

• Africa Scholars — Awarded to citizens of African countries to provide opportunities to admitted students from Africa.
• Brodsky Scholarship — Awarded to an incoming JD-MBA student from the Chicagoland area.
• Charles J. Schaniel Scholarship — Awarded to an outstanding student with an interest or background in accounting.
• David Himmelblau Schoalarship — Awarded to one student based on overall achievement and academic abilities.
• David F. and Margaret T. Grohne Family Foundation Scholarship — Provides support to an exceptional student in the Two-Year MBA and MMM Programs.
• Diversity Scholarship — Awarded to extraordinary students who share a commitment to diversity.
• Donald P. Jacobs International Scholarships — Awarded to strong international students in the Two-Year MBA and MMM Programs.
• Finance Fellows — Awarded to a cohort of students admitted to the Two-Year MBA for commitment to and demonstrated impact in the finance industry or a finance function.
• Forté Foundation Scholarship — Awarded in partnership with the Forté Foundation to female students based on a demonstrated commitment to women and girls via community involvement or personal mentorship.
• Frederick C. Austin Scholarships — Awarded to a cohort of students admitted to the Two-Year MBA or MMM Programs for academic excellence, demonstrated leadership, and community impact.
• Glen W. Fawcett Scholarship Fund — Awarded to a strong representative of Phi Delta Theta Fraternity.
• George Terry Trust Award — Awarded to an outstanding student graduating from a U.S.-based college or university.
• Hawryluk Scholars Award — Awarded to a group of students with interest and goals in healthcare, and inclusive of mentorship from alum and Healthcare faculty.
• Healthcare at Kellogg Scholarship — Awarded to an outstanding student interested in pursuing a career in healthcare.
• James P. Gorter Scholarship — Awarded to outstanding students who share a commitment to diversity in the Two Year MBA or MMM program.
• John R. Flanagan Excellence Grant — Awarded to a student with outstanding merit with an interest in Finance.
• Kellogg Finance Network (KFN) Scholarship — Awarded to a student with outstanding merit with an interest in finance.
• Kellogg Scholarship — Awarded to students in our full time programs based on overall achievements, demonstrated leadership, and academic abilities.
• Peter L. Frechette Endowed Scholarship — Awarded to students demonstrating exceptional academic and extracurricular pursuits.
• PepsiCo Scholarship — Awarded to outstanding students with an interest and/or background in marketing
• Posse Scholarship — Provides full tuition, awarded to extraordinary alums of The Posse Foundation with academic and leadership potential.
• Reaching Out MBA Fellowship — Kellogg partners with Reaching Out MBA and offers scholarship opportunities to develop the LGBT business leaders of tomorrow.
• Rick Searer and Cathi Weibrecht Searer Scholarship — Awarded to an outstanding student admitted in the full-time program with the ambition to change careers from either a liberal arts and/or teaching background and exhibits academic excellence, demonstrated leadership, and community impact.
• Robert A. & Helen E. Gottschal Scholarship — Awarded to an extraordinary student with an interest in entrepreneurship.

External scholarship resources

Other scholarship/fellowship information
Northwestern University Office of Fellowships for Graduate Students

Second Year scholarships

There are a number of additional scholarship opportunities for students entering their second year who have demonstrated strong leadership and academic excellence.

McGowan Fellows Program for Second-Year Students — Provides full tuition to one second-year MBA student who demonstrates academic excellence, leadership potential, and dedication to public service.

The McGowan Fellows Program was established in 2010 to create a select community of highly talented, young business leaders who are dedicated to ethical leadership and public service. Over time, the Fellows can exert significant influence toward the betterment of society and the workplace.

The William G. McGowan Charitable Fund partners with ten top business schools to select ten Fellows annually. Kellogg School of Management is charged with selecting one second-year MBA student who demonstrates the highest academic excellence, leadership potential, and dedication to public service.

The scholarship provides full tuition for their second year of MBA study, a mentor chosen by their home school, and lifelong membership in the Community of Fellows.

McGowan Fellows are required to:

• Attend the McGowan Symposium on Business Leadership and Ethics held at one of the participating schools.
• Participate in a group project over the Fellowship year which requires 2–3 hours a week.
• Attend a spring working retreat.
• Engage meaningfully with a mentor.

McGowan Fellows Criteria

Students must have:

• Completed their first year of MBA study.
• Achieved an academic ranking in the top 5% of their class.
• Demonstrated leadership and a dedication to ethical leadership and social betterment.
• Agreed to receive mentoring from a Kellogg-assigned executive-level business leader.

A selection committee comprised of Kellogg faculty and administrators will select the McGowan Fellow.

Read more information about the William G. McGowan Charitable Fund.