A recently introduced MBA fellowship program offered by Stanford University's Graduate School of Business will cover a significant chunk of tuition for three lucky graduate students, but there's a catch.
After the graduates enjoy the perks of having up to $160,000 of their tuition covered by the program for two years, the students will be asked to pack up their belongings and head east to work in the Midwest for at least two years, according to the university.
The peninsula-based business school has implemented the fellowship in an attempt to both support students with financial needs and strengthen the economic well-being of the Midwest.
"There are many ways for (students) to contribute to the growth and development of the Midwest region," the fellowship announcement reads. "Examples include, but are not limited to, working with households at the grassroots level, influencing change through local or state governments, developing sustainable energy sources, or influencing large-scale capital flows."
Interested candidates must "demonstrate strong ties" to America's heartland, according to the university. Those strong ties include having residence or educational history in one of the 12 Midwest states.
Although students will be the beneficiaries of the hefty tuition coverage lump sum, that amount doesn't equate to full expense coverage. A one-year stint working toward an MBA at Stanford rings up a tab of $109,218 if the student chooses to live on campus, according to the university. Living off campus requires students to fork over even more funds.
The university hopes to expand the fellowship in future years and further benefit various regions around the country.