As part of its mission to educate business leaders to solve society’s most pressing problems, the Stanford Graduate School of Business announced it has established a fellowship to provide financial support for up to three students with a passion for generating economic development in underserved regions of the country. In its inaugural year, the Stanford USA MBA Fellowship will focus specifically on the Midwest.
Students applying to the Stanford MBA Program in the first of two rounds in the 2016-2017 academic year will be able to apply for the fellowship. Up to three applicants will be selected to receive up to $160,000 over two academic years to cover tuition and associated fees.
Selection will be evaluated on the basis of general Stanford MBA admission criteria, as well as Fellowship-specific criteria. Applicants must demonstrate both financial necessity and strong ties to at least one of 12 Midwestern states.
Within two years of graduation, the three Fellows will be required to return to the Midwest to work in a professional capacity for at least two years to help contribute to the region’s economic vitality.
To be eligible for the fellowship program, students must be U.S. citizens or permanent residents. Those with dual citizenship must also be citizens of the United States. Candidates will demonstrate strong connections and a commitment to improve the economic development of at least one of the following states: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.
Defining what’s considered a strong connection to the Midwest includes current residency in one of those states, prior residency for a minimum of three consecutive years in one of those states, or having graduated from high school in the Midwest. Other experiences demonstrating a commitment to the region could also be considered.
Applicants will supply information about their income and assets, including copies of tax returns. Once admitted to the MBA program, Stanford will assess the financial needs of students based on the information provided during the financial aid application process.
Applicants must apply in Round 1, or Round 2 by January 10, 2017. Candidates for Stanford’s MBA program must indicate their interest in the fellowship on their application. Fellows will be selected by May 2017.