An MBA degree can help you become a professional executive in your field of interest by providing you with the necessary skills and exposure. Due to the exorbitant costs, MBA is a far-fetched dream for many students. However, even students with stellar academic records and profiles frequently lack funding.
MBA scholarships for students serve as an antidote in such cases. A plethora of scholarships are available in India and abroad to help students from economically disadvantaged backgrounds realize their dream of obtaining a quality education from prestigious universities. Here, we will look at some top MBA scholarships for Indian students.
What is an MBA Scholarship?
Most MBA programs last two years. The primary eligibility requirement for students seeking an MBA scholarship in India is to enroll in an MBA program. However, in order to receive an MBA scholarship in countries such as the United States, United Kingdom, France, Italy, and Canada, students must have a valid Graduate Management Admission Test (GMAT) score and be accepted by the program based on its selection criteria. There are also several other requirements that a student must meet. The table below details the eligibility requirements for each MBA scholarship.
Scholarships for MBA Abroad
Obtaining an MBA Scholarship Abroad is critical in funding the education of students who wish to attend top business schools in India or abroad to pursue a Master of Business Administration (MBA). MBA is a popular professional degree program among students, but it is also an expensive endeavor for many aspirants. Various B-schools offer MBA scholarships abroad to assist many students who face financial constraints. You can find an MBA scholarship to meet your needs whether you want to attend a business school in India or abroad.
Scholarships Available to International Students
If you are unfamiliar with the various types of MBA scholarships for Indian students, here is a brief explanation:
Merit-based scholarships are given to students based on their academic records, GPA, test scores, extracurricular participation, community service, and other professional and academic achievements. Universities may automatically consider applicants for the scholarship without requiring a separate application.
Need-based scholarships are intended for financially challenged students and are awarded based on demonstrated need. Most universities either require a separate application or ask you to indicate it on your application if you want to be considered for need-based scholarships.
Business schools worldwide reward diversity in their student body by awarding various scholarships for international students paying the same tuition as domestic students. More international students can be attracted to study in this manner.
Scholarships From Outside Sources
MBA scholarships are awarded by private organizations, the government, and even well-known employers for Indian students to study abroad. All external scholarships necessitate the submission of a separate application by the deadline. You must apply as soon as possible to be considered for these scholarships.
List of top MBA scholarships
MBA scholarships are available from both Indian and international institutions for deserving students. Capital First, the University of Petroleum & Energy Studies, and others are among the well-known providers in India. Stanford Business School, INSEAD Business School, ALBA Graduate Business School, Imperial College Business School, and other international colleges are also available. These are some well-known names. A list of top MBA scholarships is provided below.
- Capital First MBA Scholarships. The provider’s name is Capital First, and the application timeline for this scholarship is Between April and July.
- UPESMET MBA Scholarship, UPES. The provider’s name is the University of Petroleum & Energy Studies (UPES). The application timeline for this scholarship is between February and March.
- Harvard University-Boustany Foundation MBA Scholarship. The provider’s name is Boustany Foundation. The application timeline for this scholarship is between January and May.
- IUBH Online MBA Scholarships. The provider’s name is IUBH University of Applied Sciences. The application timeline for this scholarship is between March and June.
- UWE Bristol MBA scholarship. The provider’s name is the University of West England (Bristol). The application timeline for this scholarship is between April and October.
- Stanford Reliance Dhirubhai Fellowship. The provider’s name is Reliance Industries Limited and Stanford Business School, USA. The application timeline for this scholarship is between March and May.
- ALBA Graduate Business School Scholarships, Greece. The provider’s name is ALBA Graduate Business School, Greece. The application timeline for this scholarship is between January and July.
- INSEAD Deepak and Sunita Gupta Endowed Scholarship. The provider’s name is INSEAD Business School. The application timeline for this scholarship is between January and February.
- Oxford Pershing Square Scholarship, U.K. The provider’s name is Pershing Square Foundation Weidenfeld-Hoffmann Scholarships and Leadership Programme, U.K. The application timeline for this scholarship is between December and January.
- Weidenfeld-Hoffmann Trust and Said Business School Foundation. The provider’s name is Weidenfeld-Hoffmann Trust and Said Business School Foundation. The application timeline for this scholarship is between December and January.
- MBA Scholarships for women at the University of London
- The University of London provides prestigious MBA scholarships for women only. Many scholarships are available each year, and this program is among the most popular in India.
- International Scholarship Program of the IBA
- This scholarship is available to students pursuing an MBA at the Institute of Business Administration (IBA) in Karachi. The scholarship is available to international students with strong academic credentials who wish to study at a Pakistani university.
- Chevening Scholarships in the United Kingdom for International Students
- You can apply for this scholarship if you want to study in the United Kingdom. The U.K. government offers British Chevening Scholarships to international students who wish to pursue a full-time postgraduate degree at any U.K. university.
MBA Scholarships for Indian Students Abroad
MBA, or Master of Business Administration, is a popular course among Indian students. The course provides students with numerous opportunities and aids in their professional development. However, earning an MBA can be expensive, and not everyone can afford it. And if you want to get an MBA from a foreign university, the cost can be even higher.
If you win MBA scholarships for Indian students, your dream of studying at a foreign university can come true. A number of universities offer excellent MBA scholarships to deserving candidates. The scholarship amount varies depending on the institute and country in which you intend to study. It also considers your academic records, work experience, extracurricular activities, community service, and other accomplishments.
To be eligible to apply for MBA scholarships for Indian students studying abroad, you must have a minimum GMAT score of 600 or higher. In order to receive the best award, it is recommended that you have a score of 700 or higher if you plan to apply to some of the top business schools that offer MBA scholarships.
Let us look at the most popular scholarships for Indian students studying at top business schools in the United States, United Kingdom, Australia, Canada, and other countries, along with some key insights:
Global Study Prizes
The British Council awards Global Study Awards to deserving students who want to pursue postgraduate studies at prestigious universities worldwide. To be considered for this award, you must have taken the IELTS within the year preceding the application deadline. The application process for this scholarship requires a separate application, and the award is only given once.
Skoll Foundation Scholarship
To be eligible for the Skoll scholarship, you must apply for MBA admission at the Said Business School in rounds 1, 2, or 3. The Skoll scholarship seeks to recognize and award students with entrepreneurial abilities who can solve societal social, and environmental problems.
This scholarship is applied for through the Said Business School MBA application. This scholarship covers the entire course fee as well as a portion of the living expenses. It is a scholarship that will last for the duration of your program.
The German Academic Exchange Service, or DAAD, offers fully-funded MBA scholarships in Germany. Every year, over a million such scholarships are awarded to deserving candidates who are available for the duration of the program. To apply for this scholarship, go to the DAAD website.
It is a fully funded scholarship for 1-2 years.
MBA Scholarships for Sydney Future Leaders
The Sydney Future Leaders MBA scholarships are university-specific, merit-based scholarships awarded only to part-time MBA students, and it is Australia’s leading program of its kind. To apply for it, you must submit a separate application.
The MBA scholarship the school of business provides covers full tuition fees and can be completed in up to four years of part-time study.
The Forte Fellowships are prestigious awards given to students who have been accepted into an MBA program at a Forte partner business school. This award is only open to female candidates. Forte fellows typically have a GPA of more than 3.6, a GMAT score of around 700, and 5 years of work experience. A separate application is required to apply for this scholarship, which the business school always offers during your program.
Some things to think about before applying for an MBA scholarship
Even though there are numerous scholarships available, you cannot apply for them all. As a result, it is best to find one that fits your profile and needs. Before applying for any MBA scholarship, consider the following points.
Before applying for any MBA scholarship, review the university’s eligibility criteria. Some scholarships are only available to students pursuing their first MBA, while others are available to students who have already completed their first MBA. There is no point in applying if you do not meet the requirements.
If you already have an MBA, check to see if the scholarship is for a year or more. If you are currently pursuing your first MBA and wish to work after graduation, apply for a short-term scholarship program.
Some scholarships are only offered by the school to students who want to study in a specific country or city. For example, the Oxford Pershing Square MBA Scholarship is only available to students pursuing an MBA at Oxford University in the United Kingdom. So, before applying, double-check the university’s location.
Apply for multiple scholarships at the same time.
You can apply for multiple MBA scholarships at the same time. Applying for multiple scholarships increases your chances of receiving one. So, before applying for any MBA scholarship, ensure you have all your documents ready, including your CV, academic transcripts, and reference letters.
Maintain a high grade point average
Maintaining a good cumulative GPA is required for international students applying for MBA scholarships in India or abroad. It will not only increase your chances of receiving an MBA scholarship, but it will also help you get into the best business schools.
MBA scholarships are available at various times of the year, so you should look into them all and apply accordingly. Some deadlines may be very close together, so it’s best to figure out which one works best for you before applying for any scholarship. Learn more about different scholarships for Indian students by visiting our MBA Scholarship section.
MBA scholarships are an excellent way to fund your education. Make sure to conduct thorough research to find the best scholarship for you. Do your homework and find the best scholarship offered by the various school of business in this article.
Students should be aware, however, that each scholarship is highly competitive and has specific eligibility requirements. Furthermore, because these requirements are subject to change, they must seek current or updated information from the official website, or they may contact an authorized representative of that organization.
Frequently Asked Question
How Can I get Scholarships for MBA Abroad?
Take the Graduate Management Admission Test (GMAT). With GRE scores, you can apply to and receive scholarships for thousands of MBA, specialized master’s, dual degree, and doctoral business programs, including those ranked highest by The Financial Times and U.S. News & World Report.
Which country provides free MBA programs for Indian students?
Germany is well-known for offering MBA degrees with no tuition fees, automatically reducing the maximum financial burden because the student is only required to pay for student contributions and living expenses.
What is an acceptable GMAT score for obtaining MBA scholarships abroad?
To be eligible for MBA scholarships abroad, you must have a GMAT score of 600 or higher. If you want to apply to some of the top B-schools that offer MBA scholarships, a score of 700 or higher is recommended in order to receive the highest possible award.
Can I get 100% MBA Scholarships For Indians?
Yes, there are fully funded MBA scholarships available for Indian students, such as the Clarendon Fund, Felix Scholarship, Oxford-Indira Gandhi Graduate Scholarships, and London Business School Funds Scholarship. Although it is difficult to obtain a 100% scholarship, many students believe that no such scholarships offered by the school of business can be able to cover the entire program’s costs.