List of MBA Scholarships for Indian students

MBA Scholarships for IndiansWhen MBA applicants apply to a business school, they usually play it safe. So, in addition to schools which may seem ambitious, they may also apply to schools where they have a better chance of being accepted.

Now, let’s consider a hypothetical situation. Assume that you’ve got admits from two schools, you get a generous scholarship from one school which is a lesser known brand whereas no scholarship in the other which is among the top twenty MBA programs, which one would you choose?

Would the scholarship be the deciding factor in choosing one over the other? Or would you prefer to have a top brand name on your resume while you don’t mind putting in a few additional years of toil to repay your MBA loan?

Though some would say that the brand reputation matters, there’d be a sizeable number of applicants who’d agree that it’s the financial aid that may be the deciding factor.

A majority of international students rely on some form of MBA funding assistance including student loan, scholarship, teaching assistantship / research assistantship. The loan coupled with the interest puts you in a huge debt.

You cannot be guaranteed of landing a TA/RA position and even if you do, you’re needed to put in the required number of hours every week to qualify for the fee waiver or stipend.

Ensure that you’ve planned on how to finance your MBA well in advance to avoid ending up in a tight spot after the program starts. A scholarship can ease your financial burden to some extent. Who knows, you may be the lucky one to get a free ride!
 


Full and partial MBA Scholarships for Indian MBA students going abroad

Even the top MBA colleges offer numerous scholarships and though there’s a perception that these are very difficult to get considering the number of students eyeing them, it is surely not an impossible task as it may seem.

You have to apply early and well on time so that you improve your chances of bagging one.
Scholarships fall in various categories: there are several specific scholarships that are as per nationality, gender, professional development or educational background.

A lot of scholarships are merit-based, need-based, those with military background or for those who have shown leadership qualities or have a unique profile. The need-based scholarships would be given after considering your financial scenario including various assets and prior outstanding loans/liabilities.

While applying for a scholarship, make sure you meet all the qualifying criteria. You may be required to write a scholarship essay. Like the admissions essays, these scholarship essays must be customised too, so that you present yourself as the right fit for the profile to improve your chances of winning the award.

If you visit the school website, you’ll find the various scholarships the various schools have to offer. In this post, we’ve tried to list out the MBA scholarships for international students (including Indian students).

1. Harvard MBA scholarship: This school offers need-based fellowships wherein you’d receive approximately $34,000 per year. The special interest fellowships are for those with various interests or backgrounds.

These include The Robert S. Kaplan (MBA 1983) Life Sciences Fellowship (for students interested in a science-based career) and Horace W. Goldsmith Fellowship (non-profit).

2. Wharton MBA scholarship: There are various fellowships available like the emerging economy fellowships (students from emerging economies), Joseph Wharton Fellowships (outstanding achievements), Howard E. Mitchell Fellowships (outstanding students from under-represented backgrounds), Forté Fellowships(female students), Social Impact Fellowships (public or not-for-profit sector).

3. Stanford MBA scholarship: The Stanford Reliance Dhirubhai Fellowship is awarded to upto five students. This scholarship provides assistance to cover the tuition and fees for each of the two years of the program.

However, upon graduation are required to return to India and work for an Indian organisation for a minimum period of two years.

4. Columbia Business School MBA scholarship: Scholarships are
a)merit-based: Forté Foundation Scholarship (for women) and Toigo Fellowship (under-represented groups pursuing finance careers)
b) need-based: Amounts are awarded in the range of $7,500 to $30,000 and may be renewed.

5. Chicago Booth scholarships: There are several scholarship and fellowship awards. We have listed some of them below: The India Trust Fellowship (for those living and working in India), Akhtarali H. Tobaccowala Fellowship (for students from India),

The Zonis Fellowship (international student from an emerging economy), Canfield Private Equity Fellowship (prior experience in private equity or investment banking), Forté Foundation Fellowship and Distinguished Fellows Program (full-tuition and $25,000 stipend each year).

Financial Times has done a great job by listing down the scholarships offered worldwide by the various business schools. We’ve shortlisted the scholarships that are applicable to international applicants for some of the reputed programs.

(Click on the image below expand it)
List of MBA scholarships for Indian students

Source: Financial Times

Read stories of Indian MBA applicants who’ve got scholarships.

Related post: MBA scholarships for African students


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Swati //
Swati

After working for over a decade in technical and managerial roles in the corporate world, Swati now works as a freelancer and writes on a variety of topics including education, career guidance and self-improvement.

9 Comments

  1. shivam sharma says:

    please guide me full process of MS in MIT with full scholarship…. and the conditions for full scholarship…

  2. Nabeel Ahmad says:

    Hiii, I am persuing btech in electronics and communication branch.I want to study abroad for ms.I am not much rich to afford lots of money.How should I have to prepare for great scholarship abroad? From where should i have to take ms degree for placement on higher package?plz reply.currently I am in 2 nd year.

  3. Eden says:

    Hey,
    Thanks for sharing. I would like to request you to help me with some current students and or some alumni with whom I should get an idea on how to go about with my essay.
    Also, request you to help me with a minimum score required in GMAT which will help in admission to one who has good GPA, good at extracurricular and with a 2+ year experience with Tata Steel as manager (engineering background). What are the scholarships that Indian students should try for?

  4. Sameer Kamat says:

    @Shivam: A solid profile coupled with strong test scores and a well-drafted application (essays, recos) should help you get there. Here’s the story of an Indian who got into MIT with a full scholarship.

    @Nabeel: We wrote a post earlier on the top masters programs that pay the highest salaries. Here’s the link: http://www.mbacrystalball.com/blog/2016/03/14/masters-degrees-that-pay-the-highest-salaries/

    @Eden: You can tap into your personal network (relatives, seniors, colleagues) who’ve been through the process to help you in reviewing your application essays. If you are looking for professional help, we can help. Drop us an email: info at mbacrystalball dot com

  5. Mandar Sawant says:

    Hi Sameer,

    I am planning for a full time MBA from US or Canada but frankly speaking i am more interested for doing it from Canada. I am currently working in an IT industry for an American MNC with more than 2+ years of experience. I am interested in doing my Full time MBA in fields like Operations Management/HR.Moreover i have listed down some colleges from Canada. These are my plans as of now and i am yet to start my GMAT preparations i.e currently i am at level 1. Can you help me out with this ?

  6. Radhika Dhawan says:

    Hi.

    I’m currently pursuing Economic Honours at an Undergrad level.
    i am looking at an MiM, but am confused if I should go for it or work for a while and then pursue an MBA!
    this confusion is in terms of the job prospects I will have post these courses and the acceptability . I have spoken to many counsellors but they have only added to my confusion! what do you suggest?

  7. Sameer Kamat says:

    @Mandar: Can’t see any list of colleges and not sure what help you need. Can you please clarify?

    @Radhika: An MiM degree doesn’t require work experience. It might still be better if you can work for a few years and then think about a management degree.

  8. Gagan PREET Singh says:

    Pl guide me, how can I get into top MBA schools in USA. My gmat score is 710.. regards.

  9. SK says:

    I am an Assistant Commandant serving in Central Reserve Police Force (CRPF) for the last three years.
    I did my B.Sc. and M.Sc. in Biotechnology and then cleared an exam to get myself commissioned in the Forces.
    I have more of an administrative job wherein I work with my juniors (commandos), launch operations in the jungle, tackle law and order duties as and when required and of course address their day to day problems.
    Could you be indulgent enough to guide me about the specialisation I shall go ahead with, keeping in view my experience and job profile ?

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