Graduate Fellowships Bard MBA offers Graduate Fellowships to qualified applicants. Fellowships are a tuition reduction and do not require additional work or service to the program. Fellowships are awarded on a need basis. All incoming students are eligible for Fellowships. Fellowships are reviewed yearly and are not renewed automatically. Additionally, all applicants are strongly encouraged to research external sources of funding and to apply for scholarships and grants that will support the tuition costs and living expenses of the program. External awards can be held concurrently with a Bard MBA Graduate Fellowship.