Top 25 Graduate and Master’s Degree Scholarships

Why Scholarships Matter for Graduate Students

Graduate studies often come with higher tuition rates and fewer traditional financial aid options compared to undergraduate programs. Scholarships provide a lifeline, offering funding without the burden of repayment. From merit-based awards to need-based grants, these opportunities can make your master’s degree more attainable. Let’s dive into the top 25 options available today.

1. Fulbright Foreign Student Program

- Award: Varies (covers tuition, travel, and living expenses)

- Eligibility: International students pursuing graduate studies in the U.S.

- Why It’s Great: This prestigious program fosters cultural exchange and supports master’s and PhD students across disciplines.

- Deadline: Varies by country (typically February–October)

2. Gates Scholarship

- Award: Full cost of attendance

- Eligibility: Outstanding minority students with financial need

- Why It’s Great: While primarily undergraduate-focused, it extends to graduate studies for recipients continuing their education.

- Deadline: September annually

3. Gilman Scholarship

- Award: Up to $5,000 (additional $3,000 for critical languages)

- Eligibility: U.S. students studying abroad, including graduate-level programs

- Why It’s Great: Perfect for master’s students pursuing international education or research.

- Deadline: March and October annually

4. Chevening Scholarships

- Award: Full funding (tuition, living costs, travel)

- Eligibility: International students pursuing a one-year master’s in the UK

- Why It’s Great: Backed by the UK government, it’s ideal for future leaders in any field.

- Deadline: November annually

CHECK OUT How to Apply for Scholarships Online

5. Rhodes Scholarship

- Award: Full funding for Oxford University

- Eligibility: Exceptional students worldwide (ages 19–25)

- Why It’s Great: One of the oldest and most prestigious awards for graduate study.

- Deadline: October annually

6. Marshall Scholarship

- Award: Full funding for UK graduate programs

- Eligibility: U.S. citizens with a bachelor’s degree

- Why It’s Great: Supports up to two years of study at any UK university.

- Deadline: September annually

7. Joint Japan/World Bank Graduate Scholarship Program

- Award: Tuition, travel, and stipend

- Eligibility: Nationals of developing countries pursuing development-related master’s degrees

- Why It’s Great: Focuses on fields like economics, public policy, and engineering.

- Deadline: May annually

8. AAUW International Fellowships

- Award: $20,000–$50,000

- Eligibility: Women pursuing graduate studies in the U.S. (non-U.S. citizens)

- Why It’s Great: Empowers women in academia with substantial funding.

- Deadline: November annually

9. Schwarzman Scholars Program

- Award: Full funding for a one-year master’s at Tsinghua University, China

- Eligibility: Global applicants with leadership potential

- Why It’s Great: Combines a master’s in global affairs with immersion in China’s economy.

- Deadline: September annually

10. Erasmus Mundus Joint Master Degrees

- Award: Full funding (tuition, travel, living stipend)

- Eligibility: International students pursuing joint master’s programs in Europe

- Why It’s Great: Offers a unique multi-country academic experience.

- Deadline: Varies by program (January–March)

11. National Science Foundation Graduate Research Fellowship

- Award: $34,000 stipend + $12,000 tuition allowance annually

- Eligibility: U.S. graduate students in STEM fields

- Why It’s Great: Supports research-based master’s and PhD programs.

- Deadline: October annually

12. Ford Foundation Fellowship Programs

- Award: $27,000–$50,000 annually

- Eligibility: U.S. minorities pursuing graduate research

- Why It’s Great: Promotes diversity in academia with generous funding.

- Deadline: December annually

CHECK OUT Study Abroad Scholarships: How to Fund International Education

13. MBA Scholarship by Harvard Business School

- Award: Up to $40,000 annually

- Eligibility: Admitted MBA students with financial need

- Why It’s Great: One of the top MBA scholarships for a world-class program.

- Deadline: Aligned with HBS application deadlines

14. INSEAD MBA Scholarships

- Award: €5,000–€25,000

- Eligibility: MBA candidates with diverse backgrounds

- Why It’s Great: Supports global leaders at one of Europe’s premier business schools.

- Deadline: Varies by admission round

15. Knight-Hennessy Scholars Program

- Award: Full funding for Stanford graduate programs

- Eligibility: Global applicants with leadership potential

- Why It’s Great: Covers any graduate degree at Stanford, including MBAs.

- Deadline: October annually

16. Soros Fellowships for New Americans

- Award: Up to $90,000 over two years

- Eligibility: Immigrants or children of immigrants in U.S. graduate programs

- Why It’s Great: Supports diverse fields with substantial funding.

- Deadline: November annually

17. Hertz Fellowship

- Award: $34,000 stipend + tuition for up to 5 years

- Eligibility: U.S. students in applied sciences or engineering

- Why It’s Great: One of the most generous STEM graduate awards.

- Deadline: October annually

18. P.E.O. International Peace Scholarship

- Award: Up to $12,500

- Eligibility: International women pursuing graduate studies in the U.S. or Canada

- Why It’s Great: Promotes peace through education for women.

- Deadline: December annually

19. American-Scandinavian Foundation Fellowships

- Award: Up to $23,000

- Eligibility: U.S. graduate students studying in Scandinavia

- Why It’s Great: Ideal for master’s students interested in Nordic research.

- Deadline: November annually

20. DAAD Scholarships (Germany)

- Award: Tuition + €861 monthly stipend

- Eligibility: International students pursuing master’s in Germany

- Why It’s Great: Offers access to top-tier German universities.

- Deadline: Varies by program

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21. Truman Scholarship

- Award: Up to $30,000

- Eligibility: U.S. students pursuing graduate degrees in public service

- Why It’s Great: Prepares future leaders in government and nonprofit sectors.

- Deadline: February annually

22. Mitchell Scholarship

- Award: Full funding for one year in Ireland

- Eligibility: U.S. citizens aged 18–30

- Why It’s Great: Supports master’s studies at Irish universities.

- Deadline: September annually

23. Aga Khan Foundation International Scholarship

- Award: 50% grant, 50% loan (tuition + living costs)

- Eligibility: Students from select developing countries

- Why It’s Great: Focuses on master’s degrees in development-related fields.

- Deadline: March annually

24. Rotary Peace Fellowships

- Award: Full funding for master’s programs

- Eligibility: Global applicants committed to peace and conflict resolution

- Why It’s Great: Offers study at premier institutions worldwide.

- Deadline: May annually

25. Sallie Mae Graduate School Scholarship

- Award: $1,000–$5,000

- Eligibility: U.S. graduate students enrolled at least half-time

- Why It’s Great: Easy online application with flexible use of funds.

- Deadline: Rolling monthly drawings

How to Maximize Your Scholarship Chances

Start Early: Many deadlines fall between September and March—plan ahead!

Tailor Applications: Highlight your achievements and align them with each scholarship’s mission.

Leverage Resources: Use platforms like Fastweb or Scholarship America to find additional graduate funding options.

Seek Advising: University financial aid offices often provide guidance for master’s program scholarships.

Funding your graduate or master’s degree doesn’t have to be a barrier. Whether you’re eyeing an MBA scholarship, a Gilman award for study abroad, or graduate student funding for research, these 25 options offer a starting point. Explore each program, check eligibility, and apply strategically to turn your academic dreams into reality.