Tuition, Financial Aid & Scholarships

Make a worthwhile investment in your future

Kelley offers one of the most affordable top-ranked MBA programs in the United States—with a flat price at the beginning of your program that we guarantee for two consecutive years. Located in Bloomington, Indiana, you’ll enjoy one of the lowest costs of living of any city with a major business school, yet experience all the amenities of a world-class campus with a thriving cultural scene and award-winning public transportation.

2022–2023 Kelley MBA annual expense budget

Expense categoryIndiana
Tuition covers all MBA courses for the academic year.
Mandatory fees
Required fees include student health, technology, student activity, and MBA program fees.
Housing & Food
Estimated cost of a single room in a graduate residence hall or the average rent for a two-bedroom unfurnished apartment, shared with a roommate. More than 90% of MBA students live off campus.
Books and supplies$1,950$1,950

Merit-based scholarships, fellowships, and assistantships

Merit aid

More than half of our students receive merit aid, with awards ranging from $10,000 to full tuition. There’s no need for an additional application—all merit aid is awarded through the admissions process. Please apply by the Priority deadline (second round) for best consideration.

We base merit-aid awards on the following criteria, without regard to financial need:

  • Academic performance
  • GMAT/GRE scores
  • Professional experience
  • Application strength

Dean’s Fellowships
Dean’s Fellowships—providing two years of full tuition—are awarded to students who are truly exceptional in terms of their total profile including work experience, test scores, undergraduate performance, leadership potential, and admissions interview. Dean’s Fellows have access to the Kelley Dean’s Council, a group of leaders from some of the most important companies in the world.

Forté Fellowships
Forté’s mission is to increase the number of female business leaders and to support their careers through business education and networks. Female students named Forté Fellows will receive an award ranging from $15,000 up to full tuition for each of their two years in the Kelley MBA Program.

Global Fellowships
Through the Kelley Full-Time MBA Program, eligible candidates are offered Global Fellowships of $35,000 to be used toward tuition and fees during each of the two years in the program. Preference is given to students from Latin America or with a direct Latin American connection such as knowledge of Spanish, Hispanic ancestry, nationals from Latin American countries or work experience with Latin American companies. Students who are Mexican nationals may be eligible for additional funding through FUNED.

Kelley School of Business Merit Fellowship
Students demonstrating strong academic skills and leadership abilities are eligible for awards ranging from $7,500 to a full-tuition fellowship award per academic year. Awards given to first-year students are renewable for their second year in the program.

The Reaching Out LGBTQ MBA Fellowship was created to demonstrate that business schools are the top destination to develop the out LGBTQ and active ally business leaders of tomorrow. Students that self-identify as LGBTQ or active ally will be invited to write an essay explaining how they plan on furthering ROMBA’s mission and supporting the LGBTQ community at Kelley. The ROMBA Fellowship is awarded in addition to any other merit-based financial aid offered at admission. Not only do recipients receive financial support, they gain access to Reaching Out’s corporate partners and network of more than 10,000 peers and alumni.

Professional Student Employee Program
Students have the opportunity to apply for a paid assistantship within Kelley School of Business academic departments and offices starting spring semester of their first year. These assistantship positions include grading, research, and administration. Assistantship positions range from five to fifteen hours per week and are paid at an hourly rate of $18.75. Please contact Janice Brown for more information.

Two merit-based supplemental fellowships are available to admitted candidates who do not qualify for Indiana in-state tuition but have high school or undergraduate ties to Indiana. These fellowships reduce or eliminate the gap between resident and non-resident tuition, and they may be combined with additional scholarships and fellowships offered as part of admission.

Back to Bloomington Fellowship

Back to Bloomington Fellowships will be awarded to admitted students who have completed their undergraduate education at Indiana University Bloomington and have demonstrated achievement in academics or leadership. These awards range from $10,000 up to the full difference between resident and non-resident tuition rates. Graduates of the Kelley School of Business on the IUPUI campus will also be considered for this award.

Hoosier Heritage Fellowship

Applicants with strong academic credentials or extraordinary achievement in leadership are eligible for the Hoosier Heritage Fellowship if they completed their undergraduate education at a college or university in Indiana, other than Indiana University Bloomington. The Hoosier Heritage Fellowship award ranges from $5,000 up to the full difference between non-resident and resident tuition rates.

Applicants who graduated from an Indiana high school but did not attend an Indiana college or university can submit their high school transcript or diploma for Hoosier Heritage Fellowship consideration.

Need-based aid: Federal and private loans and additional scholarships

Options for all admitted students:

  • FinAid offers comprehensive financial aid, loan, and scholarship information.
  • Search for scholarships on FastWeb.
  • IU's Student Central can help you find resources to help you finance your education at IU. In addition, they provide consumer information about money management and federally mandated disclosures.

Domestic students

International students

  • International students are eligible for private loans, but expect most private loan companies to require a US citizen or permanent resident to act as a cosigner to secure the loan.
  • The Institute of International Education highlights opportunities for international students interested in studying in the United States, including Fulbright Program information and other scholarship opportunities.

A Consortium school
As one of three founding schools of The 
Consortium, we strive to enhance diversity in business education. Eligible applicants should complete the Consortium application instead of Kelley’s application to be considered for a Consortium fellowship covering full tuition and fees.

International students
US immigration regulations require you to demonstrate that you have sufficient funds to cover your expenses for a 12-month period.

Learn more