Funding Opportunities

There are numerous ways to fund your academic pursuits at Wharton including fellowships, scholarships, loans, and group-specific monetary support. Choose from the options below to learn more about your funding options. If you have any questions, please contact the Wharton MBA Financial Aid Office by email at

Wharton Fellowship Program

All admitted students are considered for Wharton Fellowship support based on the application for admission. Criteria for fellowship selection includes unique personal qualities and background, academic achievement, exceptional professional development, and community involvement.

  • Awards are offered in your Admission and Financial Aid letter.
  • Fellowships are two-year awards, split equally over four semesters (fall and spring terms) for a typical MBA student (exceptions below).
  • The Wharton Fellowship Committee does not offer reconsideration of fellowship support.

Conditions of Fellowship Support

Combining with Outside Awards (External Scholarships and Company Sponsorships)

If you are awarded external funding that, in combination with a Wharton Fellowship, exceeds your tuition and mandatory fees, the Wharton Fellowship Committee reserves the right to remove all or a part of your Wharton fellowship.

Dual Degree or Joint Degree MBA Students

If you are participating in an approved Dual Degree program within the University of Pennsylvania and receive a Wharton Fellowship, your full award will be applied throughout your time in the program. Typically, this will be prorated based on the semesters registered at Wharton, but may differ depending on your specific program schedule. Students participating in Joint Degree programs external to the University of Pennsylvania will receive fellowship support only in the terms enrolled at Wharton. This will typically reduce the Fellowship amount by one-quarter (for 3 terms of Wharton programming).

Maintaining Academic Performance Standards

You must remain in good academic standing to be eligible to renew your fellowship in the second year of study. If you are placed on Academic Probation after your first year of study, you will be ineligible to renew your Wharton Fellowship in your second year at Wharton.

Funding for Current Students

Throughout your time in the MBA Program, additional funding opportunities become available to students in multiple areas. These have their own distinct application processes, award amounts, and selection criteria.

Fellowships and Awards

Wharton Student Experience Fund

Based on a financial need review, this funding can be leveraged by current second year Wharton MBA students to fund specific costs associated with a Global Modular Course, Global Immersion Program, Semester in San Francisco, or Leadership Venture.

Academic Fellowships

  • Ford Fellowship – First year, best student
  • Academic Excellence Fellowship – Terms 2 and 3, best student
  • Inselbag Fellowship – First year (Top 5% eligible)
  • McGowan Fellowship – First year (Top 5% eligible)
  • Director’s List Fellowship – Each semester (Top 10% eligible)
  • Dr. Bruce I. Jacobs Scholars in Quantitative Finance – Second-year, exceptional students in Quantitative Finance

Entrepreneurial Awards and Fellowships

  • Penn Wharton Innovation Fund
  • Summer Venture Award
  • Startup Internship Award
  • Edward B Shills / Leonard L Zeidman Fellowship

Leadership Fellowships

  • Behrman Family Fellowships (3) in demonstrated leadership and financial need.
  • Recipient selection process maintained within Leadership Program.

Real Estate Fellowships

Samuel Zell and Robert Lurie Real Estate Center Awards: Committed to excellence in education, the Center awards fellowships and scholarships to promising real estate students.

Whitney M Young Fellowship

Second-year, active member of the AAMBAA community who has demonstrated academic excellence and made outstanding contributions to the achievement of excellence by people of color in the Wharton, University of Pennsylvania, and/or greater business communities.

Toigo Fellowships

The Toigo MBA Fellowship provides minority MBA candidates committed to careers in finance with an unmatched network of contacts, a prestigious point of difference in the eyes of employers, one-on-one career guidance, leadership training, a merit award—and more.

Additional Revenue Sources

Although a selective process by nature, there are many related work options and Fellow Programs available to current MBA Students. Beyond the compensation received, these roles provide the opportunity to enrich your personal experience in the Wharton MBA Program. 

Fellow Opportunities

These additional fellow opportunities offer a paid stipend to mostly second year students in the MBA Program.  Each role has structured timelines and deliverables integral to the success of the Fellow Program.  Compensation typically ranges between $1,000 to $5,000, but may vary based on your specific role.  There are 300+ paid fellow opportunities for MBA Students.

Additional Work Options

There are additional work options throughout the Wharton School and the University of Pennsylvania.  Both the pay, timing and structure will vary based on the specific role.  It is important for each student to evaluate the utility of each role as it relates to both compensation and personal learning objectives. 

Summer Internships

During the summer following the first Academic Year, most students take on a paid Summer Internship.  Wharton MBA Career Management is there to assist in this process.  Any savings derived can be leveraged during the second year of study to minimize the overall cost and/or maximize the experience.


External Funding Options

We encourage all students to explore scholarship opportunities made available by clubs, organizations, and/or corporations with whom they may be affiliated.

Below you will find information on external funding opportunities available to all students seeking out these sources of aid.

Resources for International Students

If you are an international student who is neither a dual U.S. citizen nor a U.S. permanent resident, we recommend that you investigate all sources of funding within your home country, including government and private scholarships and loans.

International Resources List

This is a collection of country-specific financing options. Students have the right and ability to select the lender of their choice and are not required to use any resources provided on this list. Download the International Resources List

Military Benefits

  • The Yellow Ribbon Program (YRB) is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. In Academic Year 2021-2022, Wharton plans to offer $20,000 per year (matched by the VA totaling $40,000) committed to funding students who are 100% eligible under the Post-9/11 GI Bill®, in addition to the tuition and fee reimbursement rates.  These benefits will be capped each semester based on full tuition and fees less any Wharton Fellowship (or external funding specific to tuition and fees) received.
    • Details and eligibility guidelines can be found at
    • The University of Pennsylvania Veterans Office will process your Certificate of Eligibility (COE) and provide submission instructions around May 1, 2021 for the upcoming year.

*GI Bill®️” is a registered trademark of the U.S. Department of Veterans Affairs (VA).  More information about education benefits offered by VA is available at the official U.S. government website at

Chanelle Lansley

“I knew that there were not too many scholarships available for MBAs specifically, so I was targeted in my search, looking for opportunities for women, individuals from my state, etc.”

Chanelle Lansley, WG17