Scholarship Information for Prospective & Newly Admitted Students
Does the Stuart School of Business offer scholarships or assistantships and, if so, what are the criteria?
Yes. Merit-based scholarships are awarded based on the student's entire application, including quantitative measures such as the Grade Point Average (GPA) and GMAT/GRE scores. Assistantships are not available.
How do I apply for a scholarship?
Each applicant is automatically considered for a scholarship when his/her application is reviewed.
When do you inform admitted applicants of their scholarship?
A scholarship assessment is completed at the time of application review. Students will be notified by email of the admission decision and if a scholarship has been awarded and an official letter will follow within one to two weeks.
How many scholarships are given out each year?
Stuart seeks to support all applicants who meet its stringent scholarship criteria; we do not cap the number of awards available.
How much do I receive per semester?
Scholarships, which are granted only to full-time students, are based on the required number of Stuart-specific academic credit hours in your program of study and are administered semester-by-semester according to the number of Stuart courses you take.
For example, Stuart's M.B.A. program requires 48 credit hours of study, which is equivalent to 16 courses. If an M.B.A. student receives a scholarship of $16,000, this would be the equivalent of $1,000 for each Stuart M.B.A. course. The typical full-time course load is three courses per semester, so during most semesters, the student would receive a scholarship award of $3,000. The amount would be adjusted up or down depending on the actual number of Stuart courses taken.
Does my scholarship apply to all of the courses required by my program of study?
No, Stuart scholarships apply only to courses taken as part of your Stuart-specific program. For example, if you are a joint J.D./M.B.A. or M.Des./M.B.A. student, your Stuart School of Business scholarship applies only to courses within the Stuart School of Business.
Further, scholarships do not apply to Professional Communication Advancement (PCA)
If I defer my admission, will I retain my scholarship?
Yes. Students are permitted to defer their admission for up to one year from the original term to which they applied and the scholarship offer remains valid for that period of time. Applicants who request a deferral beyond one year are required to reapply.
Do full-time students receiving a scholarship who subsequently register for less-than-full-time course load retain their scholarship?
If you are a full-time student who has been granted less-than-full-time status (for example, when you are doing an internship or in your final semester prior to graduation and enrolled for a reduced course load) the scholarship will be pro-rated based on the number of Stuart School academic credits you are taking.
Is special scholarship consideration given to students undergoing financial hardship?
Yes. Students who become unemployed after admission and are able to provide appropriate documentation from the U.S. Department of Unemployment Benefits will be awarded a 50% tuition benefit. If you are an IIT alum receiving the alumni tuition benefit, both scholarships can be combined.
Am I able to switch from full-time to part-time status and retain my scholarship?
No. Scholarships are offered only to full-time students.
Can my scholarship be rescinded?
Students who receive IIT Stuart scholarships must remain in good academic standing at all times to retain their scholarships for their entire course of study. For further information on academic standing, see the IIT Graduate Bulletin.
Review scholarship information for current students.