Funding your Full-time MBA

There are a number of scholarships and loans available to assist students. It is also strongly recommended that you research the availability of financial assistance in your country of origin. Financial arrangements covering all study-related activities must be finalized before the start of the program.

CIMBA Scholarships

Depending on your citizenship, you may be eligible for a merit- or need-based scholarship to assist with your tuition cost. Scholarships are assigned on a competitive basis to the best students after an offer of admission has been made. Scholarships result in a deduction from your MBA tuition costs and do not involve a disbursement of money. They also cannot be used to cover living expenses.

To apply for the scholarships (unless otherwise noted), please submit the scholarship application form and the requested materials. If you are applying for more than one scholarship, you only need to submit one application but you must still submit all required supporting documents. We encourage you to apply for scholarships as early as possible. Scholarships are assigned on a first-come, first-served basis and are reviewed in batches on the following dates. To see if you are eligible for a scholarship, please contact for further details.

Round 1: March 1 Round 2: April 1 Round 3: June 1 Round 4: July 31


An assistantship with the CIMBA program may be available and varies from year to year depending on the needs of the program. In exchange for completing the assistantship, a full-time MBA student will receive a reduction in tuition. Email for more information.

Consulting Project Scholarship
All full-time MBA students who complete the self-development or consulting project are automatically awarded a Project Scholarship of $5,000. This scholarship must be repaid if the project is not completed.

Undergraduate Program Alumni Scholarship
This scholarship is $2,000 and is awarded to alumni of our undergraduate program. It is awarded to students who are alumni of our undergraduate program. To apply for this scholarship, complete the scholarship application form.

GMAT/GRE Scholarship
CIMBA awards a $2,000 scholarship to students who have earned high GMAT or GRE scores. If you are a native English speaker, your GMAT score would need to be at least 650 (approximately 161 on each section of the GRE). As a non-native English speaker, your score would need to be at least 600 (approximately 158 on each section of the GRE). Complete the scholarship application form to apply for this scholarship.

Class Materials Scholarship
CIMBA awards this scholarship of about $2,500 on a need-basis. It is awarded by the consortium and includes all the expenses for the materials needed for class. It covers: fees for technology and internet access on campus, all the costs for handouts used in class, business cases and simulations, and the rental of textbooks. Complete the scholarship application form to apply for this scholarship.

Italian Descendant Scholarship
If you are of Italian descent or have dual citizenship and you do not live in Italy, you may be eligible for up to a $5,000 tuition scholarship. This scholarship opportunity is provided by a group of entrepreneurs with Italian origins and is need-based. To be eligible for this scholarship, you must complete the scholarship application form and provide documentation confirming Italian ancestry.

Veneto Origins Scholarship
This scholarship, provided by a group of entrepreneurs with Italian origins, is assigned on based on need to participants with origins in the Veneto region. To be eligible for this scholarship, you must complete the scholarship application form and provide documentation confirming Veneto origins. (This scholarship cannot be combined with the Italian Descendant Scholarship.)

Bando di Concorso per Borse di Studio
CIMBA grants some partial scholarships based on both merit and need to Italian students who reside in Italy. The scholarships cover partial tuition and book fees. For further details about the scholarship, please contact

Stefano Andreello Memorial Scholarship
Stefano Andreello was a CIMBA alumnus (MBA ’93) who went on to a career as an international consultant after graduation. He returned to CIMBA as co-director for business advisement and professor for the undergraduate program. In 2006, at the age of 41, he tragically passed away from injuries sustained in a motorcycle accident. Stefano had a genuine passion to help bring out the true leader in each student and to see the program and its students reach new heights. With this spirit in mind, CIMBA has established a memorial scholarship for up to $8,000 in his name for MBA students who possess his enthusiasm for learning and inspiring others. To apply for this scholarship, complete the scholarship application form.

Cultural Diversity Scholarship
Based on merit and need, this scholarship is reserved for citizens from countries of South America, Middle East, South Asia and Africa. It has been developed to encourage applicants from a wide-range of international backgrounds. This allows such students to benefit from our MBA, and promotes cultural diversity in the classroom. Candidates for this scholarship must show strong intellect, have significant personal and professional achievements, and demonstrate strong leadership potential. To apply for this scholarship, submit the scholarship application form.

Federal aid for U.S. citizens

Loans from both public and private sources are available. The primary public source of financial assistance is the federal Stafford Loan program. The federal Stafford Loan is a need-based program by which you may borrow money from a commercial lender or other participating organization.

Under the federal Unsubsidized Stafford Loan program, you are responsible for any interest accrued while in school and during deferment periods. Interest accrued during these periods may be paid or capitalized as agreed upon by the borrower and lender.

To apply for federal financial aid, you must submit a Free Application for Federal Student Aid (FAFSA). The application can be completed on line at As you complete the form, you will need to indicate the University of Iowa code (001892). The University of Iowa Office of Student Financial Aid can provide more information about the application process. The rules and regulations governing federal student loans change frequently, often without advanced notice. Therefore, we encourage you to contact the University of Iowa, Office of Student Financial Aid for assistance if needed.

If you are a veteran, there may be educational benefits available to you. Learn more at Veteran’s Benefits and Services.

Federal aid for Canadian citizens

Canadian citizens are eligible to apply for loans provided through the Canada Student Loans Program, which allows students to borrow money from the Canadian government to pursue higher education. The Canada Student Loans Program website offers additional information, including who qualifies, how to apply, and how to repay the loan after graduation. To apply for a loan, you must contact the provincial student assistance program in your province to receive application forms and additional information. Information can also be obtained by visiting the Human Resources Development Canada (Développement des ressources humaines Canada) site.

CIMBA Loan Program

The CIMBA Loan Program Fund provides low-interest (and in some cases, no-interest) loans to cover up to $4,000 in tuition for participants from developing countries where it is difficult to obtain sufficient funds to attend the program. The loan is repayable over a five-year period, with payments beginning five months after degree completion. The program does not cover living expenses. You must gain full acceptance into the CIMBA program, confirm your intention to participate, demonstrate financial need, and meet specified merit-based criteria (academic performance, GMAT/GRE, and personal interview). To see if you qualify for this program, email

Employer Benefits

Your employer may offer financial assistance to support your education. Check with your supervisor or company’s human resource department to determine if tuition assistance is available.

Other Resources

There are several private sources for loans, some of which may loan to international students under certain circumstances. While CIMBA does not specifically endorse any such private loans, you may want to investigate MBA Loans, a site sponsored by the Graduate Management Admission Council that offers more information about the various loan options. For private loans, most US citizens are eligible; students who are not a US citizen or US permanent resident may be eligible to borrow with a co-borrower who is a creditworthy US citizen or permanent resident. Terms and applicable interest rates depend upon the amount borrowed and the credit-worthiness of the co-borrower. You can also investigate the website for a list of private lenders.

Other sites also contain information about studying abroad, and many have searchable databases in which you can find scholarships, grants, and loan information. A few sites to consider are:

CollegeNet Rotary Club CollegeBoard SallieMae FastWeb