Scholarship & Financial Aid Options for Boston University MiM Students

Pursuing a Master in Management (MiM) at Boston University is a great investment for students looking to develop business skills and advance their careers. However, higher education can be expensive, and many students seek scholarships and financial aid to make their studies more affordable.

Boston University (BU) offers several funding opportunities to help MiM students reduce the financial burden, including:

• Merit-based scholarships
• Need-based financial aid
• External funding opportunities
• Graduate assistantships and work-study programs

This guide provides an in-depth look at scholarship and financial aid options available for Boston University MiM students, along with tips for securing funding.

1. Merit-Based Scholarships for Boston University MiM Students

Boston University offers merit-based scholarships to highly qualified students based on academic excellence, leadership experience, and professional achievements. These scholarships do not require a separate application—students are automatically considered when they submit their MiM application.

Key Merit-Based Scholarships at BU

• Dean’s Scholarship
• Boston University Graduate Scholarship
• Global Business Scholarship

How to Improve Your Chances of Getting a Merit Scholarship

• Maintain a high GPA – Competitive applicants typically have a GPA of 3.5 or higher.
• Strong GMAT/GRE scores – While not always required, strong test scores can improve scholarship chances.
• Show leadership and impact – Highlight leadership roles, volunteer work, and extracurricular activities in your application.
• Submit an impressive MiM essay – Well-crafted essays that showcase your goals and achievements can strengthen your application.
• BU’s merit-based scholarships are highly competitive, so applicants should focus on presenting a strong overall profile in their admissions application.

2. Need-Based Financial Aid for MiM Students

Boston University provides need-based financial aid to students who demonstrate financial hardship. Unlike merit-based scholarships, need-based aid is determined by financial background rather than academic performance.

Types of Need-Based Aid Available

• Grants – Awarded based on financial need; does not need to be repaid.
• Loans – Federal and private student loans are available for eligible U.S. and international students.
• Work-Study Programs – Allows students to work part-time on campus to earn money for tuition and living expenses.

How to Apply for Need-Based Aid

• U.S. Students should submit the Free Application for Federal Student Aid (FAFSA) to be considered for federal grants and loans.
• International Students may need to submit a separate financial aid application through BU’s financial aid office.
• Applicants should provide financial documents (such as tax returns and bank statements) to support their request.
• BU encourages students to apply for financial aid as early as possible to maximize their chances of receiving assistance.

3. External Scholarships for Boston University MiM Students

In addition to university-funded scholarships, students can apply for external scholarships offered by private organizations, government programs, and business foundations. These scholarships can significantly reduce tuition costs.

Popular External Scholarships for MiM Students

• Fulbright Program
• Forte Foundation Scholarships
• Prospanica Foundation Scholarship
• Chevening Scholarships

How to Find and Apply for External Scholarships

• Use scholarship search engines like Fastweb, Scholarship.com, and the BU Financial Aid website.
• Apply early – Many scholarships have deadlines 6–12 months before program start dates.
• Tailor your application – Write strong personal statements explaining your career goals and why you deserve funding.
• Look for country-specific scholarships – Many governments offer funding for students studying abroad.

External scholarships can be combined with BU’s internal financial aid, helping students reduce the cost of their MiM degree.

4. Graduate Assistantships & Work-Study Opportunities

Boston University offers graduate assistantships and work-study opportunities to help students earn money while studying.

Graduate Assistantship Opportunities

• Research Assistantships (RA) – Work with professors on business research projects in areas like finance, marketing, or entrepreneurship.
• Teaching Assistantships (TA) – Help undergraduate students with coursework, grading, and tutoring.
• Administrative Assistantships – Assist university departments with event planning, data analysis, and administrative tasks.

Work-Study Programs for MiM Students

• Part-time, on-campus jobs for students with financial need.
• Work in university offices, libraries, and research centers.
• Helps cover tuition, books, and living expenses.

Assistantships and work-study positions are competitive, so students should apply early through BU’s career services portal.

5. Student Loans & Alternative Funding Options

For students who need additional funding, loans and flexible payment plans are available.

Federal & Private Loan Options

• Federal Direct Loans – Available to U.S. students at low-interest rates.
• Graduate PLUS Loans – Covers remaining tuition costs after scholarships and grants.
• Private Student Loans – Available for both domestic and international students through banks and financial institutions.
• International Student Loan Programs – Non-U.S. students can explore options like MPOWER Financing and Prodigy Finance.

Boston University’s Payment Plans

• Allows students to spread tuition payments over several months.
• Helps manage financial stress by avoiding lump-sum payments.
• Interest-free plans available for eligible students.

Students should explore all available funding sources before taking out loans to minimize debt.

6. Tips for Securing Scholarships & Financial Aid at BU

To maximize funding opportunities, students should follow these key strategies:

• Apply Early – Many scholarships and grants have strict deadlines, so submitting applications on time is crucial.
• Submit a Strong MiM Application – Admissions committees consider academic excellence, leadership experience, and career potential when awarding merit-based aid.
• Search for External Scholarships – Private organizations offer millions of dollars in scholarships each year.
• Leverage BU’s Financial Aid Office – Advisors can help students explore grants, scholarships, and work-study options.
• Prepare Financial Documents in Advance – Having tax returns, proof of income, and financial statements ready can speed up the financial aid process.

By being proactive, students can significantly reduce the cost of their MiM degree and focus on their business education.

Conclusion: Making the Boston University MiM More Affordable

Boston University’s MiM program is a valuable investment, and with the right financial planning, students can reduce tuition costs significantly.

Key Takeaways:

• BU offers merit-based and need-based financial aid to help students manage costs.
• External scholarships from private organizations can supplement university funding.
• Graduate assistantships and work-study programs provide opportunities to earn money while studying.
• Student loans and flexible payment plans help students cover remaining tuition expenses.

With proper research and early application, students can take advantage of multiple funding opportunities to make their Boston University MiM experience more affordable.