Funding Opportunities

Navigate various ways to fund your academic pursuits at Wharton including internal and external funding opportunitiesPotential funding opportunities are listed below. 

Internal Funding Opportunities

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.
  • Fellowships can only be leveraged towards the cost of tuition and fees unless otherwise stated
  • Company sponsorships and other external fellowships that exceed the cost of tuition and fees will reduce or replace Wharton fellowships. Veterans can leverage Wharton merit-based funding up to the Cost of Attendance (COA).

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 award will be prorated based on the semesters registered at Wharton. Students participating in Joint Degree programs external to the University of Pennslyvania will receive one-quarter of the total sum of the Wharton Fellowship each semester enrolled at Wharton

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 may 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 (WSEF)
Based on a financial need review, this funding can be leveraged by current Wharton MBA students to fund specific costs associated with a Global Modular Course, Global Immersion Program, Semester in San Francisco, or Leadership Venture. More information will be provided during the academic year.

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 Major

Entrepreneurial Awards and Fellowships

  • Penn Wharton Innovation Fund
  • Summer Venture Award
  • Startup Internship Award
  • Edward B Shils/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.

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. 

Leadership & Fellow Opportunities

Some leadership and 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 position.  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 Opportunities

We encourage all students to explore scholarship opportunities made available by companies, 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.

Company Sponsorships

If a company is sponsoring all or part of your education, please contact our Third Party Billing team directly.  Contact information and further details can be found here.

Military Benefits

  • The Yellow Ribbon Program (YRB) is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. Wharton offers grant funds through the Yellow Ribbon Program for veterans and is committed to funding students who are 100% eligible under the Post-9/11 GI Bill®.
    • Details and eligibility guidelines can be found at
    • The combination of VA Benefits and all other funding (Scholarships, Sponsorships, Fellowships, etc) cannot exceed the Cost of Attendance.
    • Students may receive a maximum Yellow Ribbon Award of up to $20,000 for Academic Year 2024/2025 and the Dept. of Veteran Affairs (VA) will match the award amount granted by Wharton.
    • The University Registrar Office will process your Certificate of Eligibility (COE) as early as May 1 for the upcoming year.

Veterans Office Contact Information