Scholarships
The Origin of GMAT(r) Scholarships
In 2004, during the application process MBADiversity's founder experienced some of the barriers and hurdles in the business school application process. At the time, she lived in the New York city area, an area notable for its high cost of living. She had to choose between paying her rent or paying for a test prep course, which cost about $1300 at that time.
MBADiversity was in its infancy stages at that time, so she decided to have a conversation with Zeke Vanderhoek, the founder of ManhattanGMAT. She presented this financial barrier to him as one of the root causes of low GMAT(r) scoring among under-represented groups. She asked him to provide discounted services to MBADiversity members. Zeke not only embraced the idea, but he proposed to present this giving opportunity as "scholarships".
Since 2005, MBADiversity has offered full and partial GMAT(r) test prep scholarships to over 215 prospective MBA applicants of all races and discounted test prep to over 2700 prospective MBAs. By enabling access to quality test prep to groups who might not have the additional discretionary income to afford, the playing field has somewhat leveled.
Over 95% of MBADiversity members who have reached Fellows status have gone on to a top business school or other graduate program in the country.
Since 2004, other test prep services, companies and members have generously contributed discounted and scholarship opportunities for their services to MBADiversity and other organizations.
MBADiversity is extremely grateful for the tithe of finances, the tithe of time and the tithe of prayer that thousands of people from all races have sown to sustain our programs and services.
Currently, MBADiversity has a scholarship fund valued at over $15,000 for unemployed or underemployed MBADiversity members.
Veritas Prep has generously offered full test prep scholarships to contribute to the fund.
Princeton Review offers deep discounts for test prep to MBADiversity members
Knewton Test Prep offers full test prep scholarships and discounts to MBADiversity members
Our General Scholarship fund currently consists of donations from the public and members as well as earned income strategies through our services and partnerships. Participants of our MPDP program also contribute to this fund. A percentage of MPDP registrations are earmarked for our General Scholarship Fund. This fund helps underwrite the trips of our Global Fellows abroad and accrues test prep and book scholarships for those in need.