Best MBA Scholarships for International Students: Merit, Diversity, and More

Securing an MBA scholarship as an international student can significantly ease the financial burden of pursuing your degree. In this section, learn about the types of scholarships available for Indian Students to study abroad for an MBA. The scholarships are based on merit, need, external issues, and diversity.

Different Types of MBA Scholarships for Indian Students as well as for International Students

Scholarships Based on the Merit

The Scholarships are based on the aptitude of the applicant. Like academic awards, GPA scores, or any national-level exam score. This Scholarship doesn’t even need an additional application.

Scholarships Based on the Need

In this scholarship, the effort and the demonstrated financial values of the applicant’s family and awarded according to the financial need of the student. Most of the scholarships require a separate application for offering the scholarship.

Scholarships Based on the Diversity

This scholarship gives privilege to both Indian Students and International Students in the B-Schools. This school mostly gives scholarships to attract students. In this, international and Indian students need to pay fees like domestic students.

Scholarships Based on the External Issue

This scholarship is awarded to students by external authority bodies like the government, private organizations, and sometimes MBA universities. All external Scholarships require an additional application.

Top 5 Prestigious and International MBA Scholarships for International Students

The Top 5 International MBA Scholarships are as follows:

1. National Overseas Scholarship Scheme

An aggregate of 100 slots per year is made available for different groups such as denotified tribes, semi-nomadic tribes, landless agricultural labourers, traditional artisans, and scheduled castes.

2. Erasmus Mundus Joint Master’s Degree Programs

This scholarship allows students to pursue their graduate studies by studying and working in different countries during the program.

3. Fulbright-Nehru Master’s Fellowships

These fellowships are designed for meritorious Indian students who wish to pursue a master’s degree program at selected U.S. colleges and universities in the field of arts and culture management, including Economics; Environmental Science/Studies; and Urban and Regional Planning.

4. Fulbright-Nehru Doctoral Research Fellowships

This 6-9 months fellowship is specifically designed for Indian scholars who are already registered for a Ph.D. at an Indian institute.

5. Great Scholarships India

There are 20 postgraduate scholarships provided by UK universities across a variety of subjects. These scholarships are jointly funded by the UK government’s Great Britain Campaign and the British Council. Each scholarship is worth £10,000 (tuition fee) for a one-year postgraduate course.

The Top 5 Prestigious MBA Scholarships are as follows:

1. Rotary Foundation Global Study Grants (Global):

It aims at global mobility of talent and aims at any student who wants to study abroad. The scholarships start from $30,000 and cover all academic, and travel expenses, including tuition, accommodation, language courses, and other supplies.

2. Joint Japan World Bank Graduate Scholarships (Global):

The JJ/WBGSP is for students from developing nations who want to receive a Master’s Degree from abroad and then come back to their motherland and contribute towards its uplifting and development. It provides funds for tuition fees, health insurance, accommodation, and a stipend for covering living costs.

3. Swedish Institute Study Scholarships in Sweden:

Indian students can apply here and appear among the 550 international students who are given this scholarship by the Swedish Institute for pursuing a Master’s degree in Sweden.

4. The Gates Millennium Scholarship in the USA:

It is sponsored by The Gates Foundation, and it covers the entire expenses of 1000 students.

5. Fulbright Scholarships in the USA:

The United States-India Educational Foundation, or USIE, offers scholarships to Indians who want to pursue a master’s course or conduct research in any U.S. institution. For this, they need to complete the U.S. equivalent of a bachelor’s (4 years of education) and have a minimum of 3 years of work experience.

There are other prestigious scholarships and internships scholarships available in the market. The scholarship is an instrument for the privilege of those students who want to achieve something higher in life, and the scholarship helps financially weak students to get their dream course. Especially the MBA scholarships to study abroad for Indian Students.

Country-Based Top University MBA Scholarships for the Indian Students

Scholarship to Study Abroad for Indian Students in USA, University

1. The Harvard University-Boustany Foundation MBA Scholarship
2. Ascend Educational Fund MBA Scholarship
3. American University Emerging Global Leader Scholarship
4. Chicago Booth School of Business

Scholarship to Study Abroad for Indian Students in Canada

1. UCW Second Language Excellence Scholarship
2. UCW MBA Excellence Scholarship for Continuing Students
3. The University of British Columbia Neporany Doctoral Fellowship in Canada
4. Ritchie-Jennings Memorial Scholarship Program

Scholarship to Study Abroad for Indian students in Germany

1. DAAD Scholarship Programs
2. Heinrich Boll Foundation Scholarships in Germany
3. Deutschland Stipendium National Scholarship Programme
4. The Friedrich Ebert Stiftung Scholarship
5. Scholarship to Study Abroad for Indian Students in UK
6. Chevening Scholarships for Indian and International Students
7. Rhodes Scholarships
8. GREAT Scholarships

Business School MBA scholarship for Indian students

This Scholarship is one of the premium scholarships, it is an initiative for those students who are in a weak financial position. Out of 10, only 1 Indian student can get the privilege of this prestigious scholarship, this scholarship is awarded to the most deserving and eligible Indian and International students.

The Eligibility Criteria for the London business school MBA scholarship for Indian students:

Nationality: Indian
Work Experience: Min 2yrs
English Proficiency Score: IELTS/ PTE
Exam Score: GMAT/GRE
Qualification: Bachelor/ Equivalent

How to get a Scholarship for an MBA in India?

The scholarship, but chances are not muchly favourable, it is less than a 5% chance of getting an MBA Scholarship in India. The only key is dedication and hardship, but here are some tips to increase your chances to increase to getting an MBA scholarship:

1. Aim for high GMAT scores: It has been found that among the top scorers whose GMAT score lies between 740-800, then you’ll get a chance to scholarship in the M7 and T20 B-Schools. Increase the chances of 20% above.
2. Set Planned MBA goals: Setting a planned MBA score will make you determined to achieve the post-MBA goals. Give you a clear map.
3. Early Application for MBA: There is always a higher chance for the early applicants out of 10, at least 2 get to select for the scholarship offered.

Frequently Asked Question 

Ques 1. What types of MBA scholarships are available for Indian students?

Ans: Indian students can avail of various types of MBA scholarships including merit-based, need-based, diversity-based, and scholarships from external organizations.

Ques 2. What is a merit-based MBA scholarship?

Ans: Merit-based scholarships are awarded based on academic achievements, GPA scores, or national-level exam scores and often do not require an additional application.

Ques 3. How can I apply for a need-based MBA scholarship?

Ans: To apply for a need-based scholarship, you usually need to demonstrate your family's financial situation and may require a separate application detailing your financial needs.

Ques 4. What are diversity-based MBA scholarships?

Ans: Diversity-based scholarships aim to promote a diverse student body and are often available to international students and students from underrepresented groups.

Ques 5. Can external organizations provide MBA scholarships?

Ans: Yes, various external organizations such as governments, private companies, and NGOs offer MBA scholarships which typically require an additional application.