Ways to Save Money

This Business School Will Give You an MBA for Free. Here’s How to Apply

November 5, 2015
by Susan Shain
Contributor

They say there’s no such thing as a free lunch. But what about a free business lunch? Or better yet, a free business degree?

Over at Arizona State University’s W. P. Carey School of Business, that’s now the name of the game.

The school recently introduced an innovative — and uncomplicated — scholarship program: Get in, and you get a full ride.

Yes, you read that right. If you’re accepted into Carey’s full-time MBA program for the fall 2016 semester, the Forward Focus Scholarship Program will cover all your tuition and fees.

How to Get a Free MBA

Though you have to keep the cost of room and board, books and lost wages in mind, that’s still a huge savings: The two-year degree normally costs $87,000 for out-of-state students!

The MBA program, which is ranked 30th in the nation by U.S. News and World Report, plans to accept up to 120 students for its 2016 class. It lists a 31% acceptance rate on its site, but we’re guessing it’ll become more selective with the advent of the scholarship program.

If you want to apply, you need to submit an online application, undergraduate transcripts, GRE or GMAT scores, two recommendation letters and a $70 application fee. The priority consideration deadline is Nov. 30, and the final deadline is Apr. 1, 2016.

It’s unclear if they will offer the scholarship in the future, so apply now if you want a shot.

“Although the amount of funding available may change from year to year, we will continue to invest in our students, our university and the future of business education,” Cathy Chlarson, Carey’s communications manager, wrote in an email.

Though some are calling this scholarship program a PR grab, we don’t think the school’s motive matters. No matter how you swing it, this is a great chance to take your business education to the next level!

Your Turn: Would you consider applying for the full-time MBA program?

Susan Shain, senior writer for The Penny Hoarder, is always seeking adventure on a budget. Visit her blog at susanshain.com, or say hi on Twitter @susan_shain.

by Susan Shain
Contributor for The Penny Hoarder

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