Financing your education
A graduate education from the world’s leading school in international business is not only an investment in your career, but in your life, your community and the global economy at large. At Thunderbird, more than 68% of all students regularly receive some form of financial aid — loans, scholarships and/or awards — to complement their own resources. Thunderbird's dedicated Financial Aid staff is committed to assisting you with your specific needs.
To learn more about the financial aid options available to you, choose from the menu below. For detailed instructions or advice, contact the Financial Aid team at finaid@thunderbird.edu or call +1 602 978-7130 or 1 800 848-9084 (U.S. only).
Financing options
US citizens & permanent residents
Scholarships
Featured Scholarships |
|
| Thunderbird Legacy Scholarship | A $10,000 scholarship for any immediate family member of Thunderbird's alumni who has been admitted to degree program. |
| Merle & Miriam Hinrich Veterans Scholarship | In recognition of the sacrifices veterans have made for America, and the opportunity afforded by a Thunderbird education to help build lasting bridges of international peace and prosperity, this scholarship is for entering or continuing students who are active duty military personnel or have been honorably discharged from the US Armed Forces. Candidates who meet the criteria for this award are also eligible for Thunderbird's Military Scholarship. |
Thunderbird's merit-based scholarships are designed for competitive applicants who demonstrate above-average
- Academic performance (undergraduate grade point average, GMAT/GRE scores, etc.)
- Previous work and/or leadership experience
- Personal, intellectual and professional fit with Thunderbird's mission
To be considered for a scholarship for one of our graduate degree programs, please submit a one-page (maximum) statement to admissions@thunderbird.edu describing what makes you a strong candidate for the scholarship. Selection is based on the essay as well as documentation submitted with your application.
These scholarships are awarded in increments of $5,000, up to a maximum of 100% of degree-program tuition. They are awarded in such categories as:
Global Citizenship | Global Mindset | Global Entrepreneurship
Affiliation scholarships are designed to reward students who are already affiliated with organizations that share a common mission and mindset with Thunderbird. Any admitted student who is affiliated with the following organizations, and meets Thunderbird's qualifications, will receive the corresponding scholarship. Students may receive a maximum of two affiliation scholarships, even if they are members of more than two affiliate organizations.
| Thunderbird Legacy Scholarship $10,000 |
For any immediate family member of Thunderbird's alumni who has been admitted to a full-time or Executive MBA degree program. Contact admissions@thunderbird.edu for details. |
| AIESEC Scholarship $5,000 |
For competitive applicants who have been a member of AIESEC for a minimum of 2 years. A recommendation letter from an AIESEC Board of Advisors or Board of Directors member is required. |
| ASU Barrett Honors College Scholarship $5,000 |
For graduates of Arizona State University's Barrett Honors College. |
| Corporate Partnership Scholarship $5,000 |
For employees of Thunderbird corporate partners who have been admitted to Thunderbird's Online MBA program. Contact us at admissions@thunderbird.edu for a current list of our corporate affiliates or to learn more about developing a partnership. |
| Embry-Riddle Scholarship $5,000 |
For graduates of Embry-Riddle Aeronautical University. |
| Enactus Scholarship $5,000 |
For competitive applicants who have been a member of Enactus (formerly known as SIFE) for a minimum of 2 years. A recommendation letter from an Enactus chapter advisor is required. |
| Fulbright Scholarship Amount Varies |
Thunderbird is proud to fund several Fulbright scholars from around the world each year. Please contact your local Fulbright office for further information on opportunities. |
| Golden Key Scholarship $5,000 |
For applicants with an ongoing membership/leadership role in Golden Key at the local, national or international level. A letter of recommendation from a Golden Key chapter advisor or Associate Director is required. |
| Military Scholarship $10,000 |
For individuals who are serving or have served in any branch of the US military. A copy of discharge documents must be submitted. |
| Missionary Experience Scholarship $5,000 |
For individuals who have completed at least 2 years in a missionary role. |
| Peace Corps Scholarship $5,000 |
For individuals who have completed at least 2 years in the Peace Corps. A recommendation letter from a Peace Corps official, written on official Peace Corps stationary, is required. |
| Regional Scholarship $5,000 |
For individuals from regions that are under-represented on the Thunderbird campus. These include Latin America, Europe, Africa and the Middle East. |
| Teach for All Scholarship $5,000 |
For individuals who have completed at least 2 years with an organization that is part of the Teach for All global network, such as Teach for America. See a list of all participating organizations in Teach for All. |
| Women in Leadership Scholarship $5,000 |
For individuals exhibiting commitment to the empowerment of women in global leadership. |
Donor-directed, entering-student scholarships (full-time students only)
The following scholarships are for entering students who meet various criteria as established by the donor funding each scholarship. These scholarships are based on availability and continued funding by donors, and are subject to change. Donor-directed, entering-student scholarships include:
| Queen Rania Scholarship | Awarded annually to one Jordanian business leader interested in pursuing an MBA in Global Management. |
Donor-directed, enrolled-student scholarships (full-time students only)
| United States Steel Scholarship | An entering student scholarship for a full-time enrolled student who is a U.S. citizen. Award is based on academic performance in undergraduate studies and leadership qualities. Sons or daughters of the USS Corporation or its eligible subsidiaries are given preference. |
| Sherman Hazeltine Endowed Scholarship | For qualified candidates with experience in banking (preference given to those with international banking experience who seek to continue a career in international banking). |
| The President Roy A. Herberger, Jr. Fellows Endowment | For candidates with superior academic achievement, high leadership potential, and innovative or unique professional or personal life experiences that would contribute to and enhance the quality of the Thunderbird experience for others. |
| J.M. Klein Veteran Scholarship Fund | An entering or continuing-student scholarship for a veteran of the armed forces or a veteran's dependent. Must show financial need, scholastic achievement and extracurricular achievements demonstrative of leadership qualities. |
| James Parshall & Joseph Smith Memorial Scholarship | An entering or continuing-student scholarship for U.S. Marine Corps veterans who possess a GPA of 3.0 or greater. |
See more donor-funded scholarships for returning students.
Needs-based scholarship assistance — For students showing significant financial need, additional scholarship funds are available after a thorough review of each individual financial situation.
Continuing student grants — The purpose of this program is to honor and award those students in Thunderbird's full-time, campus-based programs in Phoenix who find time beyond general club membership or campus activities to contribute through leadership and initiative to the quality of life of the Thunderbird community while excelling academically.
Loan programs
Thunderbird participates in a variety of student loan programs from federal and private sources that must be repaid. These programs are outlined below.
The Free Application for Federal Student Aid (FAFSA) is required to determine eligibility for all loans below, except the “Private Education Loan Program” and the “Leo S. Rowe Fund.” For applicable loans, the FAFSA should be submitted by the preferred filing date:
- Fall trimester — March 1
- Spring trimester — September 15
Thunderbird FAFSA code: G01070
See a step-by-step guide for applying for financial aid.
Loan programs Thunderbird participates in:
Federal Perkins
Qualifications: Must be a US citizen or legal resident; based on financial need
Award value: Maximum $8,000 per fiscal year
Interest rate: 5% (fixed)
Loan fees: None
Grace period: 9 months
Direct Unsubsidized Stafford
Qualifications: Must be a US citizen or legal resident; not based on financial need
Award value: Maximum $20,500 per year
Interest rate: 6.8% (fixed)
Loan fees: 1%-2% deducted from disbursement (pending final decision by federal government)
Grace period: 6 months
Federal Direct Grad PLUS
Qualifications: Must be a US citizen or legal resident; not based on financial need
Award value: Up to the published cost of attendance less any other financial aid
Interest rate: 7.9% (fixed)
Loan fees: 4%-5% deducted from disbursement (pending final decision by federal government)
Grace period: Enters repayment within 45-60 days after graduation or enrollment at less than half time. A forbearance may be arranged with the loan servicers that will align repayment to begin with the Stafford loan.
Dougherty Foundation
Qualifications: Must be a full-time student who is a US citizen and an Arizona resident for a minimum of two years prior to enrollment
Award value: Maximum $1,000 per trimester or $2,000 per 12 months
Interest rate: 5% for first six years of repayment, 8% for remaining repayment period on unpaid balance
Loan fees: None
Grace period: 9 months
Private Education Loan Program: Non-government loans
Qualifications: Must be a US Citizen, legal resident or foreign national with a US citizen or legal resident as co-signer with a good US credit history
Award value: Up to the published cost of attendance per year, depending on lender, credit and other financial aid
Interest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)
Loan fees: Vary depending on credit and lender
Grace period: 6 months
Leo S. Rowe Fund
Qualifications: Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0
Award value: $7,500 for 2 terms
Aggregate amount: $15,000
Interest rate: 0%
Special note: Students are expected to return to their home country to assist in development. For more information, please visit their website at www.oas.org/rowe.
Student employment (full-time students only)
On-campus
Federal work-study and non-work-study positions may be available on campus for students and qualified spouses. Generally, these jobs are available in administrative and faculty offices or various other capacities, and range from office support to assisting professors for specific classes, dependent on talents. On average, students work about 10 hours per week and can expect to earn about $1,000 per trimester. Some qualified spouses may work full-time on campus. For a list of available positions, contact Financial Aid at finaid@thunderbird.edu or call +1 602 978-7130 or 800 848-9084.
Federal work-study
Federal work-study positions may be available to eligible US citizens and legal residents. There are opportunities off campus for helping elementary school children with reading and mathematics as part of Thunderbird's Work-Study Community Service participation.
Non-work-study
Non-work-study positions may be available to qualified foreign students and students who are ineligible for federal work-study. Foreign students with F-1 visas are eligible to work in the United States. J-1 visa holders need permission from their sponsor to work.
Off-campus
Some off-campus jobs in the Phoenix/Glendale areas may be available to students and/or spouses. Non-US students and spouses must have appropriate visa documents and Department of Homeland Security (DHS) permission to pursue off-campus positions. For a list of available positions, contact Financial Aid at
or call +1 602 978-7130 or 800 848-9084.
Veterans Administration Education Benefit
Information on Veterans Education Benefits is available on the U.S. Department of Veterans Affairs GI Bill web site. All individuals receiving educational benefits from VA can call 1-888-GIBILL1 (1-888-442-4551). The automated phone system can answer many of your common questions quickly and easily.
APPLYING FOR BENEFITS
When applying for VA education benefits, please allow eight to ten weeks for processing. The amount of benefits you will receive is determined by the Department of Veterans Affairs and is based on the number of credit hours for which you are enrolled.
New Students
If you have never used VA education benefits at any institution of higher education, you must complete the appropriate application form.
- Montgomery GI Bill, Active Duty (CH. 30)
- Vocational Rehabilitation (CH. 31)
- Post-9/11 GI Bill (CH.33)
- Montgomery GI Bill, Selected Reserve (CH. 1606)
- Reserve Education Assistance Program (CH. 1607)
- Survivors and Dependents Educational Assistance Program (CH. 35)
Tuition Assistance
- Tuition Assistance is a Department of Defense program. The program is not administered or monitored by the VA.
- To apply, contact your Unit Education Service Officer.
In addition, you will be required to provide one or more of the following documents to Thunderbird’s Veteran Certifying Official at veterans@thunderbird.edu:
- DD Form 214: Veteran coming off Active Duty (Chapters 30, 33, and 1607 only)
- Certificate of Eligibility (Chapters 30, 33, 1606, 1607, and 35)
- Authorization and Certification of Entrance or Reentrance into Rehabilitation and Certification of Status (Chapter 31)
- Completed Authorization Form (Tuition Assistance)
Continuing Students
If you collected GI Bill benefits at another institution, you must complete one of the following forms to change the place of training.
- Form 22-1995, if you are receiving benefits through Chapters 30, 32, 1606 or 1607
- Form 22-5495, if you are receiving benefits through Chapter 35
You will need to submit a copy of the completed form to Thunderbird’s Veteran Certifying Official at veterans@thunderbird.edu. These are kept for our records only.
YELLOW RIBBON PROGRAM
Thunderbird School of Global Management has elected to participate in the Yellow Ribbon Program. The Yellow Ribbon Program was established by the Post-9/11 Veterans Educational Assistance Act of 2008 (CH. 33). This program allows institutions of higher learning (such as colleges, universities, and other degree-granting schools) in the United States to voluntarily enter into an agreement with the VA to fund tuition and fee expenses that exceed the tuition and fee amounts payable under the Post-9/11 GI Bill.
Eligibility requirements for new students:
Only Veterans entitled to the maximum benefit rate (based on service requirements) or their designated transferees may receive this funding. Active duty service members and their spouses are not eligible for this program (child transferees of active duty service members may be eligible if the service members is qualified at the 100% rate).
Therefore, you may be eligible if:
- You served an aggregate period of active duty after September 10, 2001, of at least 36 months;
- You were honorably discharged from active duty for a service connected disability and you served 30 continuous days after September 10, 2001;
- You are a dependent eligible for Transfer of Entitlement under the Post-9/11 GI Bill based on a Veteran’s service under the eligibility criteria listed above.
Thunderbird
- GMAT at the 50% of country average or GRE at the 50th percentile, if applicable.
- Undergraduate or Graduate GPA at or above 3.000.
RESOURCES
- Muskogee VA Regional Office
- Veterans Benefits Administration
- GI Bill Website Educational Benefits Pate
- Veterans Online Applications (VONAPP)
- Tuition Assistance
- Department of Defense
Military Branch of Service
National Guard and Reserve
- Army National Guard
- Army Reserve
- Naval Reserve
- Marine Corps Reserve
- Air National Guard
- Air Force Reserve
- Military.com
FOR MORE INFORMATION
Please email Thunderbird’s Veterans Certifying Official at veterans@thunderbird.edu.
Resources & tools
TOOLS
These tools are provided to help you as you work with Thunderbird’s Financial Aid team on sourcing funding for your degree.
RESOURCES
Financing your degree can be made easier with the support and assistance of various external programs and resources.
General information
- Graduate Management Admissions Council — find information on private education student loans
- U.S. Department of Education, Office of Post—Secondary Education Site
- U.S. Department of Education, Office of Federal Student Aid — read reviews of federal financial aid programs
- Student calculators — calculate and compare loan payments
- Celia M. Howard Scholarship: This is a specialized fellowship offered to MBA & MA/MS students at only five schools across the country. It is open to Thunderbird female students and applicants who are residents of Illinois. Students must apply for this external scholarship before they matriculate at Thunderbird.
Scholarship search
We recommend the following sites when conducting your scholarship search:
Financial aid options for our Online Dual Degree with Indiana University are handled differently. For details, contact Financial Aid at finaid@thunderbird.edu or call +1 602 978-7130 or 800 848-9084.
International students
Scholarships
Featured Scholarships |
|
| SHARE Fellowship | An alumni-sponsored award that provides up to 100% of tuition for top-tier candidates from emerging markets who intend to return to their country of origin after studying at Thunderbird to further economic and business development. Each SHARE Fellow is also paired with an alumni mentor for the duration of their degree program. |
| Thunderbird Legacy Scholarship | A $10,000 scholarship for any immediate family member of Thunderbird's alumni who has been admitted to degree program. |
| Merle & Miriam Hinrich Veterans Scholarship | In recognition of the sacrifices veterans have made for America, and the opportunity afforded by a Thunderbird education to help build lasting bridges of international peace and prosperity, this scholarship is for entering or continuing students who are active duty military personnel or have been honorably discharged from the US Armed Forces. Candidates who meet the criteria for this award are also eligible for Thunderbird's Military Scholarship. |
| Thunderbird Global Scholars Award | Designed for students from regions currently underrepresented in Thunderbird’s student body, this highly competitive award benefits our strongest applicants from the eligible regions. Scholarship funds are available in varying amounts up to 100% of tuition for Thunderbird full-time degree programs. Awards are based on academic background, employability and fit with Thunderbird, although admissions exam test scores are also considered. Awards typically are given to students from Africa, Eastern Europe, the Middle East and Latin America. |
Thunderbird's merit-based scholarships are designed for competitive applicants who demonstrate above-average
- Academic performance (undergraduate grade point average, GMAT/GRE scores, etc.)
- Previous work and/or leadership experience
- Personal, intellectual and professional fit with Thunderbird's mission
To be considered for a scholarship for one of our graduate degree programs, please submit a one-page (maximum) statement to admissions@thunderbird.edu describing what makes you a strong candidate for the scholarship. Selection is based on the essay as well as documentation submitted with your application.
These scholarships are awarded in increments of $5,000, up to a maximum of 100% of degree-program tuition. They are awarded in such categories as:
Global Citizenship | Global Mindset | Global Entrepreneurship
Affiliation scholarships are designed to reward students who are already affiliated with organizations that share a common mission and mindset with Thunderbird. Any admitted student who is affiliated with the following organizations, and meets Thunderbird's qualifications, will receive the corresponding scholarship. Students may receive a maximum of two affiliation scholarships, even if they are members of more than two affiliate organizations.
| Thunderbird Legacy Scholarship $10,000 |
For any immediate family member of Thunderbird's alumni who has been admitted to a full-time or Executive MBA degree program. Contact admissions@thunderbird.edu for details. |
| AIESEC Scholarship $5,000 |
For competitive applicants who have been a member of AIESEC for a minimum of 2 years. A recommendation letter from an AIESEC Board of Advisors or Board of Directors member is required. |
| ASU Barrett Honors College Scholarship $5,000 |
For graduates of Arizona State University's Barrett Honors College. |
| Corporate Partnership Scholarship $5,000 |
For employees of Thunderbird corporate partners who have been admitted to Thunderbird's Online MBA program. Contact us at admissions@thunderbird.edu for a current list of our corporate affiliates or to learn more about developing a partnership. |
| Embry-Riddle Scholarship $5,000 |
For graduates of Embry-Riddle Aeronautical University. |
| Enactus Scholarship $5,000 |
For competitive applicants who have been a member of Enactus (formerly known as SIFE) for a minimum of 2 years. A recommendation letter from an Enactus chapter advisor is required. |
| Fulbright Scholarship Amount Varies |
Thunderbird is proud to fund several Fulbright scholars from around the world each year. Please contact your local Fulbright office for further information on opportunities. |
| Golden Key Scholarship $5,000 |
For applicants with an ongoing membership/leadership role in Golden Key at the local, national or international level. A letter of recommendation from a Golden Key chapter advisor or Associate Director is required. |
| Military Scholarship $10,000 |
For individuals who are serving or have served in any branch of the US military. A copy of discharge documents must be submitted. |
| Missionary Experience Scholarship $5,000 |
For individuals who have completed at least 2 years in a missionary role. |
| Peace Corps Scholarship $5,000 |
For individuals who have completed at least 2 years in the Peace Corps. A recommendation letter from a Peace Corps official, written on official Peace Corps stationary, is required. |
| Regional Scholarship $5,000 |
For individuals from regions that are under-represented on the Thunderbird campus. These include Latin America, Europe, Africa and the Middle East. |
| Teach for All Scholarship $5,000 |
For individuals who have completed at least 2 years with an organization that is part of the Teach for All global network, such as Teach for America. See a list of all participating organizations in Teach for All. |
| Women in Leadership Scholarship $5,000 |
For individuals exhibiting commitment to the empowerment of women in global leadership. |
Donor-directed, entering-student scholarships (full-time students only)
The following scholarships are for entering students who meet various criteria as established by the donor funding each scholarship. These scholarships are based on availability and continued funding by donors, and are subject to change. Donor-directed, entering-student scholarships include:
| Queen Rania Scholarship | Awarded annually to one Jordanian business leader interested in pursuing an MBA in Global Management. |
Donor-directed, enrolled-student scholarships (full-time students only)
| United States Steel Scholarship | An entering student scholarship for a full-time enrolled student who is a U.S. citizen. Award is based on academic performance in undergraduate studies and leadership qualities. Sons or daughters of the USS Corporation or its eligible subsidiaries are given preference. |
| Sherman Hazeltine Endowed Scholarship | For qualified candidates with experience in banking (preference given to those with international banking experience who seek to continue a career in international banking). |
| The President Roy A. Herberger, Jr. Fellows Endowment | For candidates with superior academic achievement, high leadership potential, and innovative or unique professional or personal life experiences that would contribute to and enhance the quality of the Thunderbird experience for others. |
| J.M. Klein Veteran Scholarship Fund | An entering or continuing-student scholarship for a veteran of the armed forces or a veteran's dependent. Must show financial need, scholastic achievement and extracurricular achievements demonstrative of leadership qualities. |
| James Parshall & Joseph Smith Memorial Scholarship | An entering or continuing-student scholarship for U.S. Marine Corps veterans who possess a GPA of 3.0 or greater. |
See more donor-funded scholarships for returning students.
Needs-based scholarship assistance — For students showing significant financial need, additional scholarship funds are available after a thorough review of each individual financial situation.
Continuing student grants — The purpose of this program is to honor and award those students in Thunderbird's full-time, campus-based programs in Phoenix who find time beyond general club membership or campus activities to contribute through leadership and initiative to the quality of life of the Thunderbird community while excelling academically.
SHARE Fellowship (full-time students only)
Thunderbird believes in the power of business to change lives.
The global economy is being reshaped by emerging markets, where entrepreneurial drive and passion are alive. And Thunderbird is dedicated to helping students from these markets harness their potential. These student leaders are poised to revolutionize business and make an extraordinary impact — and there is no better school to prepare them than Thunderbird.
Funded solely by alumni donations, the Thunderbird SHARE Fellowship provides top-tier candidates from emerging markets with up to 100% of tuition for one of Thunderbird’s top-ranked graduate degree programs. Each SHARE Scholar is also partnered with an alumni mentor and networking partner for the duration of their degree.
Are you ready to SHARE your passion for world?
Contact us today to learn more about this once-in-a-lifetime fellowship opportunity.
Eligibility requirements
SHARE Fellowship awards are available to entering students from emerging countries, as well as disadvantaged American students, who meet Thunderbird’s general admission requirements and have been offered admission through the Office of Admissions. Preference is given to students who plan to return to their region of origin to use their Thunderbird degree to make a difference in the country or region's economy. Ideal candidates are those who have shown commitment and outstanding performance in other areas of endeavor.
To be considered, students must meet the following requirements, depending on degree program:
MBA in Global Management
- Minimum of two years of work experience, the nature of which would enable the student to bring input of value to instruction in the program of choice
- Undergraduate GPA of 3.2 or higher
- GMAT score of 610 or higher
Master of Science or Master of Arts
- Undergraduate GPA of 3.2 or higher
- Equivalent of a GMAT score of 610 or higher on the GRE scoring protocol
Contact Us Today
For more information contact us at admissions@thunderbird.edu, +1 602 978-7100 or 800 457-6966.
Loan programs
It is recommended that international students secure loans from a lending institution in their home country. For students unable to secure funding in their home country, Thunderbird participates in two primary student loan programs from private sources that are available to qualified international students and must be repaid. These programs are outlined below.
Private Education Loan Program: Non-government loans
Qualifications: May be a foreign national with a US citizen or legal resident co-signer who has established good US credit history
Award value: Up to the published cost of attendance per year, depending on lender, credit and other financial aid
Interest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)
Loan fees: Vary depending on credit and lender
Grace period: 6 months
Leo S. Rowe Fund
Qualifications: Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0
Award value: $7,500 for 2 terms
Aggregate amount: $15,000
Interest rate: 0%
Special note: Students are expected to return to their home country to assist in development. For more information, please visit their website at www.oas.org/rowe.
Student employment (full-time students only)
On-campus
Federal work-study and non-work-study positions may be available on campus for students and qualified spouses. Generally, these jobs are available in administrative and faculty offices or various other capacities, and range from office support to assisting professors for specific classes, dependent on talents. On average, students work about 10 hours per week and can expect to earn about $1,000 per trimester. Some qualified spouses may work full-time on campus. For a list of available positions, contact Financial Aid at finaid@thunderbird.edu or call +1 602 978-7130 or 800 848-9084.
Federal work-study
Federal work-study positions may be available to eligible US citizens and legal residents. There are opportunities off campus for helping elementary school children with reading and mathematics as part of Thunderbird's Work-Study Community Service participation.
Non-work-study
Non-work-study positions may be available to qualified foreign students and students who are ineligible for federal work-study. Foreign students with F-1 visas are eligible to work in the United States. J-1 visa holders need permission from their sponsor to work.
Off-campus
Some off-campus jobs in the Phoenix/Glendale areas may be available to students and/or spouses. Non-US students and spouses must have appropriate visa documents and Department of Homeland Security (DHS) permission to pursue off-campus positions. For a list of available positions, contact Financial Aid at
or call +1 602 978-7130 or 800 848-9084.
Resources & tools
TOOLS
These tools are provided to help you as you work with Thunderbird’s Financial Aid team on sourcing funding for your degree.
RESOURCES
Financing your degree can be made easier with the support and assistance of various external programs and resources.
General information
- Graduate Management Admissions Council — find information on private education student loans
- U.S. Department of Education, Office of Post—Secondary Education Site
- U.S. Department of Education, Office of Federal Student Aid — read reviews of federal financial aid programs
- Student calculators — calculate and compare loan payments
- Celia M. Howard Scholarship: This is a specialized fellowship offered to MBA & MA/MS students at only five schools across the country. It is open to Thunderbird female students and applicants who are residents of Illinois. Students must apply for this external scholarship before they matriculate at Thunderbird.
Scholarship search
We recommend the following sites when conducting your scholarship search:
Financial aid options for our Online Dual Degree with Indiana University are handled differently. For details, contact Financial Aid at finaid@thunderbird.edu or call +1 602 978-7130 or 800 848-9084.
Executive MBA students
Scholarships
New! Thunderbird Legacy Scholarship
The Thunderbird Legacy Scholarship entitles any immediate family member of our alumni to a $10,000 scholarship if admitted to a Thunderbird degree programs. For additional information, e-mail admissions@thunderbird.edu.
Merit-based scholarships
Thunderbird's merit-based scholarships are designed for competitive applicants who need financial assistance. Quality candidates are those who demonstrate:
- Personal, intellectual and professional fit with Thunderbird's mission
- Ability to excel academically in Thunderbird courses
- Quality work experience which will bring value to your classmates in the cohort
For scholarship consideration, you must first submit your official application to Thunderbird's Executive MBA program. In addition, please submit a one-page (maximum) statement to keaton.allen@thunderbird.edu describing the minimal level of assistance you require and what makes you a particularly strong candidate for a scholarship. Concise and specific examples of your attributes and future plans are encouraged. This essay will be used, in conjunction with your full application, to determine any potential scholarship award. You must also reveal any corporate sponsorship or financial support that you may receive.
Typically, awards will not exceed 20% of total tuition. All scholarship applications submitted will be evaluated on a rolling basis on February 15, April 15, June 15 and July 31.
Limited scholarship funds are available to qualified Executive MBA students. Funds are limited so you are encouraged to request scholarship consideration early.
Loan programs for US citizens & permanent residents
Thunderbird participates in a variety of student loan programs from federal and private sources that must be repaid. These programs are outlined below.
The Free Application for Federal Student Aid (FAFSA) is required to determine eligibility for all loans below, except the “Private Education Loan Program” and the “Leo S. Rowe Fund.” For applicable loans, the FAFSA should be submitted by the preferred filing date:
- Fall trimester — March 1
- Spring trimester — September 15
Thunderbird FAFSA code: G01070
See a step-by-step guide for applying for financial aid.
Loan programs Thunderbird participates in:
Federal Perkins
Qualifications: Must be a US citizen or legal resident; based on financial need
Award value: Maximum $8,000 per fiscal year
Interest rate: 5% (fixed)
Loan fees: None
Grace period: 9 months
Direct Unsubsidized Stafford
Qualifications: Must be a US citizen or legal resident; not based on financial need
Award value: Maximum $20,500 per year
Interest rate: 6.8% (fixed)
Loan fees: 1% deducted from disbursement
Grace period: 6 months
Federal Direct Grad PLUS
Qualifications: Must be a US citizen or legal resident; not based on financial need
Award value: Up to the published cost of attendance less any other financial aid
Interest rate: 7.9% (fixed)
Loan fees: 4% deducted from disbursement
Grace period: Enters repayment within 45-60 days after graduation or enrollment at less than half time. A forbearance may be arranged with the loan servicers that will align repayment to begin with the Stafford loan.
Dougherty Foundation
Qualifications: Must be a full-time student who is a US citizen and an Arizona resident for a minimum of two years prior to enrollment
Award value: Maximum $1,000 per trimester or $2,000 per 12 months
Interest rate: 5% for first six years of repayment, 8% for remaining repayment period on unpaid balance
Loan fees: None
Grace period: 9 months
Private Education Loan Program: Non-government loans
Qualifications: Must be a US Citizen, legal resident or foreign national with a US citizen or legal resident as co-signer with a good US credit history
Award value: Up to the published cost of attendance per year, depending on lender, credit and other financial aid
Interest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)
Loan fees: Vary depending on credit and lender
Grace period: 6 months
Leo S. Rowe Fund
Qualifications: Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0
Award value: $7,500 for 2 terms
Aggregate amount: $15,000
Interest rate: 0%
Special note: Students are expected to return to their home country to assist in development. For more information, please visit their website at www.oas.org/rowe.
Loan programs for international students
Thunderbird participates in two primary student loan programs from private sources that are available to qualified international students and must be repaid. These programs are outlined below.
Private Education Loan Program: Non-government loans
Qualifications: Must be a US Citizen, legal resident or foreign national with a US citizen or legal resident as co-signer with a good US credit history
Award value: Up to the published cost of attendance per year, depending on lender, credit and other financial aid
Interest rate: Varies depending on lender (Example: Prime +2%, no rate cap, variable or fixed)
Loan fees: Vary depending on credit and lender
Grace period: 6 months
Leo S. Rowe Fund
Qualifications: Must be a citizen of a Latin American or Caribbean country with sufficient other sources of funding, a US student visa, and a GPA of at least 3.0
Award value: $7,500 for 2 terms
Aggregate amount: $15,000
Interest rate: 0%
Special note: Students are expected to return to their home country to assist in development. For more information, please visit their website at www.oas.org/rowe.
Corporate sponsorship
Your company does not need to sponsor your degree “financially;” however, Thunderbird requires all Executive MBA participants to have their employer approve (in advance) the necessary leave time in order to accommodate the program schedule.
The minimal support required of your company’s management is their commitment to provide you with this flexibility. Many participants’ companies allow them to use a combination of vacation and paid training time for pursuing the degree.
Corporations and employers often offer some combination of training or tuition assistance benefits for MBA programs in support of talent development.
The following points may help you frame your discussion with your supervisor or employer’s HR department, should you be seeking financial support for Thunderbird's Executive MBA program.
The Executive MBA benefits your employer directly with:
Improved performance.
The Executive MBA will give you new skills, time away from work to consider the implications of various theories and trends on your industry and company. You will be introduced to best practices and concepts which you can implement immediately following each program weekend.
Strategic recommendations.
You or your firm may be faced with a particular business case that you can use as you pursue your course work in applying theories and concepts. During the Executive MBA program, you will have opportunities to present business scenarios to peers and professors for consideration and feedback, whether for formal course assignments or informal discussions outside of the classroom.
Confidence in your decision-making.
One of the benefits of the Executive MBA experience will be your confidence in the decisions that you make as a manager and in your company’s confidence in you as a leader. You will be better equipped for financial, strategic, market and human capital decisions in a range of areas, resource allocation to organizational communication. And your employer can be confident that you have had training from some of the most elite professors in these disciplines.
Outsourced leadership training and development.
Has your employer identified you as a potential senior manager or rising leader within the organization? What formal succession planning and training will be provided to ensure that you are ready for the highest levels of the organization? The Executive MBA provides your employer with an unparalleled level of training and exposure for you that could not be replicated by a corporate university or series of in-house training programs.
Access to Executive trainers.
Thunderbird’s Executive Education division, with the same dynamic professors as the Executive MBA, is consistently ranked among the top providers of executive training. The professors you will meet in the Executive MBA have consulted for top players in major industries, from Pharmaceutical companies to the Oil & Gas sector. This provides a quality assurance measure for the direct, practical and applicable learning to which you will be exposed during your degree program.
Veterans Administration Education Benefit
Information on Veterans Education Benefits is available on the U.S. Department of Veterans Affairs GI Bill web site. All individuals receiving educational benefits from VA can call 1-888-GIBILL1 (1-888-442-4551). The automated phone system can answer many of your common questions quickly and easily.
APPLYING FOR BENEFITS
When applying for VA education benefits, please allow eight to ten weeks for processing. The amount of benefits you will receive is determined by the Department of Veterans Affairs and is based on the number of credit hours for which you are enrolled.
New Students
If you have never used VA education benefits at any institution of higher education, you must complete the appropriate application form.
- Montgomery GI Bill, Active Duty (CH. 30)
- Vocational Rehabilitation (CH. 31)
- Post-9/11 GI Bill (CH.33)
- Montgomery GI Bill, Selected Reserve (CH. 1606)
- Reserve Education Assistance Program (CH. 1607)
- Survivors and Dependents Educational Assistance Program (CH. 35)
Tuition Assistance
- Tuition Assistance is a Department of Defense program. The program is not administered or monitored by the VA.
- To apply, contact your Unit Education Service Officer.
In addition, you will be required to provide one or more of the following documents to Thunderbird’s Veteran Certifying Official at veterans@thunderbird.edu:
- DD Form 214: Veteran coming off Active Duty (Chapters 30, 33, and 1607 only)
- Certificate of Eligibility (Chapters 30, 33, 1606, 1607, and 35)
- Authorization and Certification of Entrance or Reentrance into Rehabilitation and Certification of Status (Chapter 31)
- Completed Authorization Form (Tuition Assistance)
Continuing Students
If you collected GI Bill benefits at another institution, you must complete one of the following forms to change the place of training.
- Form 22-1995, if you are receiving benefits through Chapters 30, 32, 1606 or 1607
- Form 22-5495, if you are receiving benefits through Chapter 35
You will need to submit a copy of the completed form to Thunderbird’s Veteran Certifying Official at veterans@thunderbird.edu. These are kept for our records only.
YELLOW RIBBON PROGRAM
Thunderbird School of Global Management has elected to participate in the Yellow Ribbon Program. The Yellow Ribbon Program was established by the Post-9/11 Veterans Educational Assistance Act of 2008 (CH. 33). This program allows institutions of higher learning (such as colleges, universities, and other degree-granting schools) in the United States to voluntarily enter into an agreement with the VA to fund tuition and fee expenses that exceed the tuition and fee amounts payable under the Post-9/11 GI Bill.
Eligibility requirements for new students:
Only Veterans entitled to the maximum benefit rate (based on service requirements) or their designated transferees may receive this funding. Active duty service members and their spouses are not eligible for this program (child transferees of active duty service members may be eligible if the service members is qualified at the 100% rate).
Therefore, you may be eligible if:
- You served an aggregate period of active duty after September 10, 2001, of at least 36 months;
- You were honorably discharged from active duty for a service connected disability and you served 30 continuous days after September 10, 2001;
- You are a dependent eligible for Transfer of Entitlement under the Post-9/11 GI Bill based on a Veteran’s service under the eligibility criteria listed above.
Thunderbird
- GMAT at the 50% of country average or GRE at the 50th percentile, if applicable.
- Undergraduate or Graduate GPA at or above 3.000.
RESOURCES
- Muskogee VA Regional Office
- Veterans Benefits Administration
- GI Bill Website Educational Benefits Pate
- Veterans Online Applications (VONAPP)
- Tuition Assistance
- Department of Defense
Military Branch of Service
National Guard and Reserve
- Army National Guard
- Army Reserve
- Naval Reserve
- Marine Corps Reserve
- Air National Guard
- Air Force Reserve
- Military.com
FOR MORE INFORMATION
Please email Thunderbird’s Veterans Certifying Official at veterans@thunderbird.edu.
Resources
Financing your degree can be made easier with the support and assistance of various external programs and resources.
General information
- Graduate Management Admissions Council — find information on private education student loans
- U.S. Department of Education, Office of Post—Secondary Education Site
- U.S. Department of Education, Office of Federal Student Aid — read reviews of federal financial aid programs
- Student calculators — calculate and compare loan payments
- Celia M. Howard Scholarship: This is a specialized fellowship offered to MBA & MA/MS students at only five schools across the country. It is open to Thunderbird female students and applicants who are residents of Illinois. Students must apply for this external scholarship before they matriculate at Thunderbird.
Scholarship search
We recommend the following sites when conducting your scholarship search:
Be aware that there are disreputable organizations offering assistance in finding scholarships and financial aid. Read more about scholarship scams.
Credit bureaus
Your credit score is important to establishing eligibility for funding programs. Obtain a copy of your credit report by contacting one of these agencies:
- CBI/Equifax
- Experian
- Trans Union Corp.
Education tax benefits
Read more about higher-education tax incentives.
Additional funding options for international students
Please note: Thunderbird does not have formal agreements regarding the loans or scholarships presented below. You should assess whether the source of funding suits your needs.
Opportunities in your own country
Some countries allow you to offset course fees and/or living expenses against income tax, which considerably reduces the cost. This usually means that course fees have to be paid in the same year that you earn taxable income. We recommend that you investigate such options within your own country of origin. It is best to speak with a tax advisor or national tax office regarding the possibility.
Worldwide funding
Some organizations offer financial aid to participants, regardless of nationality.
- QS Quacquarelli Scholarship for Responsible Leadership
- QS Symonds Community Scholarship
- International Rotary Club
Other sources for grants, scholarships and loans
- Universities & The Ministry of Education in your country
- The Swiss Embassy
- National associations, organizations & foundations
- Community groups & charities
- Religious organizations
- Company sponsorship
- Family, relations or friends
For more information, contact Thunderbird’s Executive MBA team at emba@thunderbird.edu. For specific financial aid inquiries, email finaid@thunderbird.edu or call +1 602 978-7130 or 800 848-9084.
Please keep in mind, the total financial assistance you are eligible to receive through institutional and outside scholarships, federal and private loans is limited by the published cost of attendance. Items taken into consideration include tuition, fees, health insurance, average housing, meals, books and supplies, transportation, and personal expenses for the student.
