Online MBA degree candidates may enter fellowship programs for minorities

Online MBA degree candidates may enter fellowship programs for minorities

The Robert Toigo Foundation and the Carlyle Group have announced they will team up to launch a MBA fellowship program for minorities, which may benefit graduates of online business schools.

The non-profit foundation, which aims to help minority MBA degree holders succeed in the financial sector, will receive support from the private equity firm to establish the Toigo Private Equity MBA Fellowship.

Program participants will gain exposure to the private equity sector through work at the firm, a plan sponsor, firsthand management of a portfolio or operating company and training sessions with Toigo. Some participants may be eligible for an annual stipend and $50,000 to put toward business school loan repayment.

David M. Rubenstein, the Carlyle Group's managing director and co-founder, said his company's financial and educational investment in the program is intended to recognize "the tremendous value diverse teams and diverse experiences bring to [his] firm and the industry as a whole."

Students in their second year of a classroom-based or online business degree program may apply for the fellowships beginning November 4 on the foundation's website. The winners will be announced in January of next year.