List of MBA Scholarships for Indian students

When 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!

[Editor’s Note: Article updated in August 2021 to reflect the latest data]


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. Read MBA scholarship statistics reveal prize money getting bigger in admissions game.

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 $40,000 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), Forward Fellowship (to students from lower income backgrounds supporting families) 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: Stanford offers a need-based scholarship of upto a total of $80,000 to a significant number of students who are able to prove financial need. Another need-based scholarship that is also committed to diversity is the GSB BOLD Fellows Fund. The Stanford Knight Hennessy Scholars Program also aims at diversity and inclusion. Students who are interested in non-profit or public service careers can apply for a Social Innovation Fellowship or Loan Forgiveness option.

The 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. [Note: We rechecked the data for this article in August 21 and found that the official Stanford GSB site no longer lists this fellowship. Applicants seeking a scholarship from Stanford should keep an eye on their site for updates on this.]

4. Columbia Business School MBA scholarship: Scholarships are
a)Merit-based: Forté Foundation Scholarship (for women) and The McGowan Fellowship Fund for aspiring leaders who are committed to a building a better society.
b)Need-based: Many students are offered a partial-tuition scholarship. Amounts are awarded in the range of $7,500 to $30,000 and may be renewed. Some of the external ones also have a required merit component. For instance, the Laidlaw Foundation Scholarship is offered to exceptional female MBA candidates who can’t afford the costs.

5. Chicago Booth scholarships: There are several scholarship and fellowship awards. We have listed some of them below: The Ramakrishnan Family Scholarship provides funds to Indian nationals, Akhtarali H. Tobaccowala Fellowship (for students from India),

There are merit based scholarships, Global Innovator Fellowships for students committed to make a lasting impact in the world, the Zonis Fellowship (international student from an emerging economy), Canfield Private Equity Fellowship (prior experience in private equity or investment banking), the Herman Family Fellowship and Khosla Booth Private Equity Fellowship both aimed at advancing business education for women, the Distinguished Fellows Program and more.

We’ve shortlisted a few business school scholarships that are applicable to international applicants for some of the reputed programs.

INSEAD (Scholarship Portal) in Euro (€100 ~ USD $118)

nbsp; Scholarship Amount
1 INSEAD Alumni Association (IAA) Endowed Scholarship Fund Up to €25,000
2 INSEAD Alumni Fund (IAF) Diversity Scholarship(s) Amounts vary from €10,000 to €18,000
3 INSEAD Alumni Fund (IAF) Special Profile Scholarship(s) €10,000 up to €25,000
4 INSEAD Bischoff Family Endowed Scholarship €15,000
5 INSEAD Forté Fellowship €10,000-20,000
6 INSEAD Groupe Galeries Lafayette Endowed Scholarship for Women €15,000
7 INSEAD Heuschmidt Scholarship for Diversity €10,000
8 INSEAD Ian Potter ’93D and Family Endowed Asia Scholarship €20,000
9 INSEAD Indeed Endowed Scholarship Up to €20,000
10 INSEAD Judith Connelly Delouvrier Endowed Scholarship €20 000 to €25 000
11 INSEAD L’Oréal Scholarship €25,000
12 INSEAD Louis and Evelyn Franck Endowed Award for Excellence €11,000
13 INSEAD MBA ’87J Special Profile Endowed Scholarship €15,000 -20,000
14 INSEAD MBA ’89D Endowed Scholarship Up to €10,000
15 INSEAD MBA’68 Scholarship for Women €10,000 up to €20,000

 
HEC Paris (France)
(Scholarships)

  Scholarship Amount
1 HEC PARIS MBA Scholarship for Excellence Up to 50% of tuition
2 Paris Saclay Innovation Cluster Scholarship Up to € 16,000
3 L’Oreal Scholarship €10,000
4 Forte Foundation Scholarship for Women Candidates €26,000
5 30% Club Scholarship for women Up to 50% of tuition
6 Eiffel Scholarship for candidates working in emerging countries Monthly allowance of approximately €1,100

 
IMD (Switzerland)
(Scholarships) in CHF (CHF 100 ~ USD $108)

  Scholarship Amount
1 IMD Alumni Club of Lausanne Scholarship CHF 50K
2 The Staton Scholarship CHF 50K
3 Forté Women Scholarships CHF 20K
4 Stewart Hamilton Scholarship CHF 50K
5 Young Leaders Scholarships Up to CHF 50K
6 Diversity Scholarships CHF 30K
7 Merit Scholarships Up to CHF 30K
8 Financial Need Scholarships Up to CHF 30K

 
London Business School (UK)
(Scholarships) in Pound Sterling (£100 ~ USD $140)

  Scholarship Amount
1 Muna Al Gurg Scholarship £50,000
2 Laidlaw Women’s Leadership Fund 5 x 50% tuition
3 BK Birla Scholars Programme 1 x 100% tuition
4 SARI Foundation Trust Scholarship 1 x 100% tuition
5 Gonzalo and Maria Garcia Latin America Scholarship for Women 1 x £75,000
6 London Business School Fund Scholarships Up to full fees
7 Hong Kong LBS Alumni Scholarship 3 x Up to £75,000
8 The Service and Society Scholarship 1 x £50,000
9 Mo Ibrahim Foundation Scholarship 1 x 100% tuition

 
Oxford Said Business School (UK)
(Scholarships) in Pound Sterling (£100 ~ USD $140)

  Scholarship Amount
1 Alumni Annual Fund Scholarships Up to £20,000
2 Forté Fellowships for Women Up to £30,000
3 Oxford – Intesa Sanpaolo MBA Scholarships 100% tuition + grant for living expenses of at least £15,609
4 Oxford Pershing Square Scholarship 100% tuition + grant for living expenses of at least £15,609
5 Oxford Saïd-HEC Montréal Scholarship £53,000
6 Reaching Out MBA (ROMBA) LGBTQ+ Fellowships Up to £20,000
7 Saïd Business School Foundation Scholarships Up to £25,000
8 The Laidlaw Scholarships for women £31,000 to 100% tuition
9 The Skoll Scholarship 100% tuition + grant
10 Weidenfeld-Hoffmann Scholarships and Leadership Programme 100% tuition + grant for living expenses of at least £15,609

 
Yale School of Management (USA)
(Scholarships) in USD

  Scholarship Amount
1 JN Tata Endowment for the Higher Education of Indians $1,400 to $14,000
2 American Association of University Women International Fellowship Program $18,000–$30,000
3 P.E.O. International Peace Scholarship (IPS) for international women $12,500
4 Consortium for Graduate Study in Management Fellowship 100% tuition
5 Forté Fellows $10,000 to $61,000
6 Chapman Scholarship $10,000 to $30,000

 
Ohio State University Fisher (USA)
(Scholarships) in USD

  Scholarship Amount
1 University Merit Based Scholarships $1,500 to 100% tuition
2 Fisher Fellows 50% tuition + stipend
3 International Student Ambassador 50% tuition + $715 stipend per month

 
University of Texas at Austin McCombs (USA)
(Scholarships) in USD

  Scholarship Amount
1 Recruiting Scholarship $2,000 to 100% tuition
2 Forte Up to $49,000
3 Sylff Up to $10,000

 
HKUST Business School (Hong Kong)
(Scholarships) in USD

  Scholarship Amount
1 HKUST MBA Merit Scholarship Up to 100% tuition

 
University of Toronto Rotman (Canada)
(Scholarships) in C$ (C$100 ~ USD $80)

  Scholarship Amount
1 J.N. Tata Endowment for the Higher Education of Indians C$2,500 to C$10,100
2 Aga Khan Foundation 50% Grant and 50% Loan
3 Rotary Foundation Ambassadorial Scholarships Various schemes
4 International Peace Scholarship Fund for Women (IPS) Up to C$16,000

 
University of British Columbia (Canada)
(Scholarships) in C$ (C$100 ~ USD $80)

  Scholarship Amount
1 Asia Top Talent Scholarships C$10,000 to C$40,000
2 Hari Varshney MBA Entrance Scholarship Up to 50% tuition
3 Madhu Varshney MBA Entrance Scholarship Up to 50% tuition
4 Women in Business Leadership Scholarships C$10,000 to C$40,000
5 Responsible Business & Community Spirit Scholarship C$10,000 to C$40,000
6 Hager Family Award for Female Leaders C$15,000
7 Dean’s Entrance Scholarship Merit Based C$20,000 to C$40,000
8 International Talent Scholarships C$11,000
9 Aga Khan Foundation 50% Grant and 50% Loan
10 CAEL Scholarships C$500 to C$4,000

 

External Scholarships that you might want to explore besides some of the ones already listed in the tables.

American Association of University Women Educational Foundation

Association of Commonwealth Universities

Association of Universities and Colleges of Canada (AUCC)

British Universities North America Club

FinAid Scholarships

International Educational Financial Aid (IEFA) Scholarships

There are many more that are usually listed on either university websites or on external scholarship resources.

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

Related post: MBA scholarships for African students and List of MiM Scholarships


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Swati
About 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.

14 thoughts on “List of MBA Scholarships for Indian students”

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

    Reply
  2. 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.

    Reply
  3. 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?

    Reply
  4. @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: https://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

    Reply
  5. 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 ?

    Reply
  6. 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?

    Reply
  7. @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.

    Reply
  8. 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 ?

    Reply
  9. Hi,

    I am a MCA graduate. I would like to pursue my MBA abroad. What is the best College & university to get into where I can get better scholarship schemes?

    Reply
  10. Hii my name is Srikanth
    I would like to pursue MBA in India
    Under which scheme I can get better scholarship..can anybody suggest me please..!!
    Thank you

    Reply
  11. Hii…i completed class 12(PCB)and got 85.6%..i am planning to prepare for toefl,sat,gre and need scholarship for USA. which exam i have to appear for full term scholarship for bds in USA

    Reply
  12. Good day Swati,

    Can you please suggest some scholarships for Indians with Military background, for pursuing PG courses abroad?

    Regards

    Reply
  13. hello i am recently pursuing bsc agriculture with 95 percent both in hs and secondary,could you plz let me know my possiblities for scholarship for mba from any of the world’s topmost universities?

    Reply

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