Program costs can feel like an overwhelming barrier between you and your MBA. From full tuition waivers to study abroad travel assistance, Walton MBA offers several scholarship and funding opportunities for the full-time and executive MBA programs.
Before pursuing an M.B.A., it is important to consider the real cost of your degree — the cost of the program, including scholarships and funding, in addition to the long-term professional benefits. The tuition cost of M.B.A programs has been steadily rising over the last decade. A 2019 report on tuition and associated costs among the top M.B.A. programs revealed that “the total price tag has eclipsed $200,000 at a dozen institutions, up from nine schools [in 2018].” Wharton MBA ranked number 1 for highest tuition, coming in at $229,792.
Sticker shock alone is enough to deter prospective students from pursuing an M.B.A. Yet earning your M.B.A. is a reliable step towards higher salaries and leadership opportunities. U.S. News & World Report has said the average annual salary and bonuses paid to 2018 M.B.A. graduates was already $102,495, a significant mark-up when compared to undergraduate business majors.
Program costs can feel like an overwhelming barrier between you and your MBA. From full tuition waivers and living stipends to study abroad travel assistance, Walton MBA offers several scholarship and funding opportunities for full-time and executive MBA programs:
- Graduate Assistantships ($52,000 to $110,000)
- Paid Internships ($52,000)
- Need-based Scholarships ($12,000)
- Russell E. Westmeyer Fellowship in Graduate Studies ($18,000)
- Ecklund Family Scholarship ($4,000)
- Karthik Sennimalai Scholarship for International Students ($3,600)
- MBA General Scholarship ($2,000)
- Global Immersion Scholarships ($1,500)
- Graduate Assistantships
- Paid Internships
- Need-based Scholarships
- Russell E. Westmeyer Fellowship in Graduate Studies
- Ecklund Family Scholarship
- Karthikeyan Sennimalai Scholarship for International Students
- MBA General Scholarship
- Global Immersion Scholarships
MBA students can save more than $100,000 with a Walton MBA Graduate Assistantship. Students awarded graduate assistant positions can receive full tuition waivers and earn up to $18,000 working with nationally acclaimed faculty members and Walton College business research departments. Graduate assistants make a 20-hour-per-week commitment to faculty members or departments within the Walton College, with a limited number of external graduate assistantships awarded on an individual basis. All students accepted to the program, including international students, are considered for graduate assistantships. The graduate assistant program is the largest funding option available to Walton MBA students, with 15 graduate assistant positions awarded in 2019-2020.
Being able to continue my education without increasing my debt has given me a sense
of freedom that I think really allows me to maximize my learning. And with the monthly
stipend, it’s the first time in my academic career that I’ve seen my bank balance
increase because of school. I am so far incredibly pleased with the graduate assistantship,
and the program as a whole! — Jason Conners 
The GA program provided by the Walton MBA program allowed me to pursue an opportunity
that I would not have otherwise had. This scholarship is the sole reason I am able
to attend the MBA program. I am extremely grateful to have been awarded this position.
— Wade Carter 
The GA helped solidify my decision to go to the University of Arkansas over another
university because it will allow me to graduate debt free. This was really important
to me because I have been interested in pursuing a career in social sustainability
or nonprofit, and this will allow me to pursue my passions post-graduation. — Lane
Richmond 
I worked with Dr. Aloysius as a tutor for the Supply Chain Methods and Decision-Making
Executive MBA class. This specific GA assignment was great because it offered a unique
entwining opportunity with executives from around the region. The GA was a great opportunity
to lessen the financial burden of getting my MBA. This funding opportunity will allow
me more flexibility post-graduation to pursue entrepreneurial opportunities or non-profit
work. — Ethan Washispack Walton MBA Graduate Assistant Total Savings:
In-State Student Savings: $52,894.14
Out-of-state Student Savings: $106,224.86
International Student Savings: $110,955.86
Walton College is uniquely positioned among several Fortune 500 companies, and paid internships are an important source of funding and personal and professional growth for full-time MBA students. Networking events, site visits and professional development workshops help students prepare for internship opportunities with Walton MBA hiring partners. In 2019, full-time MBA students accepted paid internships with ExxonMobil, Phillips 66, Unilever, Henkel, Mars, Nielsen, PepsiCo, Stephens Inc., Georgia-Pacific, Walmart, Tyson Foods, Deloitte and Land O’Lakes. Most students participate in one-year internships at a $25 hour wage rate; however, for the biggest return, students can participate in paid internships throughout the duration of the two-year program — a total value estimated at $52,000.
In next month’s edition of Walton MBA Insider, we interview Elizabeth Arredondo, a 2018 Walton MBA alum and former MBA intern for Henkel, on “The Value of Internships.” Arredondo, current category development manager at Henkel, shares how her internship lead to full-time employment and gave her the tools and confidence she needed to succeed outside of the classroom.
Executive M.B.A. students can apply for a need-based scholarship and receive $12,000 in financial assistance. The executive M.B.A. program, a hybrid curriculum of online courses and once-a-month Saturday classes, is designed for working professionals and available to students residing outside of Northwest Arkansas. Need-based scholarships are a great way to save on tuition and travel expenses.
The Walton College Need-Based Scholarship has helped me bridge the financial gap that
student loans don’t cover. I’m based in Houston and incur additional cost flying in
for face-to-face classes. The scholarship has allowed me to focus on my studies while
continuing to excel and grow at work. I’m genuinely grateful for the scholarship and
proud to be a Walton MBA student. Go Hogs! — Jarred Gilker
The EMBA Need Based Scholarship is a great relief for me as it helps me keep out of
costly student loans and helps me continue supporting my parents in India for the
medical and daily needs. It would have been a real financial burden without this scholarship
as I do not have any other scholarships or reimbursements from my employer or other
institutions. This scholarship is making my MBA dream a reality! — Saritha Sasi
Full-time students that exhibit strong financial need and maintain a cumulative GPA of 3.0 or greater can apply for the Russell E. Westmeyer Fellowship in Graduate Studies — a total award amount of $9,000, distributed annually. In 2019-2020, the fellowship was divided among four students, each receiving $2,250 for their first year in the program.
Paying tuition while attending the MBA program with no loans is a vigorous challenge.
However, the Westmeyer Fellowship has greatly supported me with the financial burden
I am facing each semester. Thanks to this scholarship I can spend fewer hours working
to cover my tuition cost and focus more on my education while participating in the
program. — Nathan Teeters
The Russell E. Westmeyer Fellowship helped me through a tough time [trying] to settle
everything down before the fall semester. The less financial burden, the more I was
able to focus on [being a] student, and [I received] a GPA of 4.0. —Tuan Nguyen
Current full-time MBA students interested in supply chain management or entrepreneurship and innovation career tracks can apply for the $2,000 Ecklund Family Scholarship. Students must have leadership experience, demonstrate financial need and have a minimum incoming GPA of 3.25. The Ecklund Family Scholarship is an annual award available twice over the course of the two-year M.B.A. program.
International students with a GPA of 3.25 or higher can apply for the $1,800 Karthikeyan Sennimalai Scholarship. Trang Pham, current full-time student, international student, graduate assistant and one of two students to receive the 2019-2020 Karthikeyan Sennimalai Scholarship for International Students, says the funding options provided by the Walton MBA program have allowed her to focus on her studies and have given her time to make new friends and adjust to life in the United States.
I am lucky to receive the 1-year GA Award and the Karthikeyan Sennimalai International
Scholarship. They mean a lot to me: as an international student, they have waived
my tuition and given me a stipend every month and an amount of money at the start
of the last fall semester, so I can focus on other things such as studying, making
new friends and adapting to [a] new life in a strange country, making it easier to
catch up with my peers, which would otherwise take more time and effort. —Trang Pham
The $1,000 MBA General Scholarship is available to all full-time MBA students and is awarded annually. Michael Throm, recipient of the 2019 MBA General Scholarship, will use the funds to help develop clean water solutions for at-risk populations in India. Throm will test new manufacturing methods for “ceramic water filters and water filter media for distribution to austere populations to promote health and hygiene practices related to water consumption.”
I received the MBA General Scholarships and the Business Administrative Scholarship
Fund for a total of $2,000 which has been applied towards the cost of my research
abroad in India. The research abroad will consist of determining the feasibility of
introducing a new method of manufacturing ceramic water filters/water filter media
for distribution to austere populations to promote health and hygiene practices related
to water consumption. India is currently facing a water crisis, and potable water
is not easily accessible for large portions of the population. — Michael Throm
In an increasingly globalized world, study abroad opportunities have become more relevant to students and desirable to employers. Full-time and executive M.B.A. students traveling to an approved country as part of the Global Business course and accompanying Global Immersion international trip can apply for the $1,500 Global Immersion Scholarship. The 2021 E.M.B.A. and M.B.A. cohorts will enjoy an increased funding pool with 14 students receiving the scholarship.
I received a scholarship from Walton to attend the Global Immersion trip this year.
This helped lessen the financial burden of attending as currently I am a single mother
of three young children and this scholarship opened doors for me to strengthen my
knowledge in foreign business. — Katie Howard
I received the MBA General Scholarships and the Business Administrative Scholarship
Fund for a total of $2,000 which has been applied towards the cost of my research
abroad in India. The research abroad will consist of determining the feasibility of
introducing a new method of manufacturing ceramic water filters/water filter media
for distribution to austere populations to promote health and hygiene practices related
to water consumption. India is currently facing a water crisis, and potable water
is not easily accessible for large portions of the population. — Michael Throm
Post Author:
Alexandra Goforth graduated summa cum laude from the University of California, San Diego in 2019. She
received college and departmental honors with highest distinction for her studies
in biological anthropology and global health along with the Sherwood L. Washburn Award for
Excellence in Biological Anthropology for her undergraduate honors thesis. Since returning to her hometown
of Fayetteville, Ark., Alexandra has joined the University of Arkansas as a marketing and communications officer for
the MBA Programs Office at the Sam M. Walton College of Business. She has contributed
to freelance projects for Walton College Executive Education and the University of
Arkansas School of Law. She is passionate about writing, community health and the
nexus of business and healthcare.
