MBA scholarships are a great way to finance the pursuit of a master’s degree in business administration. They are available both in India and abroad, allowing students to study at a variety of prestigious universities. Scholarship programs vary from school to school, so it is important to research the options available. These opportunities can be used to fund tuition, living costs, and other expenses associated with attending a business school. With the right scholarship, it is possible to gain an internationally recognized degree without the burden of excessive student loan debt.
An MBA degree can help in transforming you into a professional executive in your field of interest and equipping you with the necessary skills as well as exposure. But in many cases, students with stellar profiles and academic backgrounds lack funding. In such scenarios, MBA scholarships for students turn out to be the antidote. In India and abroad, a plethora of scholarships are available which aim to enable the students belonging to the economically weaker arena, live up to their dream of acquiring quality education from esteemed universities. Here are some of the best MBA scholarships for Indian students.
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MBA Scholarships Abroad
There are numerous academic institutions around the world that provide MBA scholarships for international students wanting to pursue this sought-after degree program. Below we have elaborated some of the major scholarships that you need to consider while applying for an MBA degree abroad:
INSEAD Deepak and Sunita Gupta Endowed Scholarship by INSEAD Business SchoolÂ
Harvard University-Boustany Foundation MBA Scholarship
UWE Bristol MBA Scholarship by the University of the West of England, Bristol
Oxford Pershing Square Scholarship by Pershing Square Foundation
Weidenfeld-Hoffman Scholarship and Leadership Program by Weidenfeld-Hoffmann Trust in partnership with The Said Business School, University of Oxford
University of Chicago Booth School of Business
AICPA John L. Carey Scholarship Award
International Council of Shopping Centers Foundation — Edward J. DeBartolo, Sr. Graduate Scholarships
Related Read: Scholarships For Indian Students
INSEAD Deepak and Sunita Gupta Endowed Scholarship by INSEAD Business SchoolÂ
For students with an exceptional academic background and limited financial aid, this scholarship can provide them with the necessary financial aid to gain a world-class education. Offered by the INSEAD, this MBA Scholarship provides an amount of EUR 25,000 (around 19,60,000 INR) for this degree course at the institution.  Â
Key Features
The application starts between the month of January and February.Â
Applicants must belong to a developing nation.
Documents to demonstrate financial need.
Proof of salary (last salary slip or letter from the previous employer).
Scholarship essay (300 words maximum).
Bank statement of last three months.
Harvard University-Boustany Foundation MBA Scholarship
Financial funding can prove to be an obstacle if you are aspiring to obtain an MBA degree from an elite institution like Harvard University. This is where BF MBA scholarship turns out to be th best option to get the right funding for your chosen Master of Business Administration degree. The selected candidate will get a funding of USD 95,000, i.e. USD 47, 500 (34,26,300 INR approx.) along with accommodation and travel allowances for an internship at Boustany Foundation.
Key Features
Applicants must have a higher GMAT score.
Excellent academic background.
Curriculum Vitae, Acceptance Letter from the University and Photographs are essential while applying for the scholarship.
UWE Bristol MBA Scholarship by the University of the West of England, Bristol
Provided by the University of the West of England, Bristol MBA scholarship is one of the popular scholarships which equips the students with the financial help of 50% of the total tuition fee for 1 year. But the students must have the equivalent of British 1st or 2:1 in an undergraduate degree.
Key Features
Lucrative score in IELTS or equivalent English language proficiency tests like TOEFL, PTE etc.
At least 3 years of work experience in corporate of entrepreneurial practice.
New students at UWE Bristol with no previous study record in the UK.
Not enrolled in any other scholarship.
A Personal StatementÂ
Oxford Pershing Square Scholarship by Pershing Square Foundation
Do you want to enrol into the 1+1 MBA program offered by the University of Oxford but are caught up by the financial constraints? Out of the wide range of MBA scholarships, you can target the OXPS Scholarship offered by the Pershing Square Foundation. The 5 selected scholars will be provided with full assistance in tuition fee along with aid for living expenses.Â
Key Features
Students must fulfil all the eligibility criteria under the 1+1 MBA Program.
Approximately INR 13,50,000 for living expenses for 2 years.
Candidates have to submit a scholarship essay.
Weidenfeld-Hoffman Scholarship and Leadership Program by Weidenfeld-Hoffmann Trust in partnership with The Said Business School, University of Oxford
The aspirants wanting to get enrolled under the MBA course available at The Said Business School can choose MBA scholarships as a medium of entry if and only they are facing issues regarding the fundings. The selected students will get complete tuition fee wavier as well as some assistance in living expenses approximately INR 13,70,000.Â
Key Features
A one-page CV containing academic credentials and relevant work experience.
GMAT or GRE score report
Score of the English language proficiency test like IELTS, TOEFL, etc
2 compulsory essays (500 and 250 words each)
Professional/academic references (1 each)
Apart from these, here are some other prominent MBA scholarships for Indian students include,
Harvard MBA Scholarship
Wharton MBA ScholarshipÂ
Stanford MBA Scholarship
Columbia Business School MBA ScholarshipÂ
Chicago Booth Scholarships
The Zonis FellowshipÂ
HEC Paris MBA Scholarship for ExcellenceÂ
L’Oreal Scholarship
INSEAD Alumni Fund (IAF) Robin Hood Scholarship
Recruiting Scholarships, the University of Texas at AustinÂ
La Caixa Scholarship, amongst others.  Â
University of Chicago- Booth School of Business
This scholarship is for incoming students in Chicago Booth School of Business. The school currently ranks #3 in its MBA program and is known for some of the most prestigious alumni. Let’s check the scholarship details here:
Eligibility
Chicago Booth Candidates
Fund
Up to full annual tuition
Deadline
Same as Admission Deadline
AICPA John L. Carey Scholarship Award
The scholarship is for those who have obtained a liberal art or non-business degree from a university in United States. This is especially for those who are studying graduate studies in Accounting. It is to encourage students from little to no accounting background to join the field.
Eligibility
Non-Business Degree+ US Citizen
Fund
$5,000 (INR 3 Lakhs)
Deadline
March
International Council of Shopping Centers Foundation — Edward J. DeBartolo, Sr. Graduate Scholarships
The foundation awards scholarships to students who are enrolled in the upcoming academic year at an accredited university. The student must have at least 3 GPA with full time MBA enrollment. Refer to the table for further information:
Eligibility
3 GPA+, with Shopping Centre Industry Experience
Fund
$10,000 (INR 7,46,419)
Deadline
January
MBA Scholarships in Canada
Here are MBA scholarships for Indian students planning to study in Canada:
Central Sector Scheme of National Overseas Scholarship for SC Candidates
Hani Zeini Scholarship
Ontario Graduate Scholarship
University of Waterloo Graduate Scholarship
Go Clean Scholarship
Narotam Sekhsaria’s Scholarships
Rotman School of Management Scholarships
Sauder School of Business Entrance Scholarship
Alberta MBA Scholarships
Ivey MBA Scholarships
Haskayne School of Business MBA Entrance Scholarships
Schulich School of Business Scholarships
MBA Scholarships in USA
Here are MBA scholarships for Indian students planning to study in USA:
Emerging Economy Fellowships
Social Impact Fellowships
Joseph Wharton Fellowships
Tuck School of Business- Need-based and Merit-based Scholarships
Meyer Feldberg Distinguished Fellowship Program
Sloan School of Management- McKinsey Award
The Robert S. Kaplan Life Sciences Fellowship
Horace W. Goldsmith Fellowship
Donald P. Jacobs International ScholarshipsÂ
NYU Stern School Of Business – William R. Berkley Scholarships in US
University of Florida Warrington College of Business
Ritchie-Jennings Memorial Scholarship
MBA Scholarships in UKÂ
Here are MBA scholarships for Indian students planning to study in UK:
GREAT Scholarships
Commonwealth Scholarship and Fellowship
The Financial Sumo Educational Scholarship Program
Charles Wallace India Trust Scholarships
Hornby Scholarships
Go Clean Scholarship
Chevening Scholarship
Oxford India Centre Scholarship
The Oxford and Cambridge Society of India Scholarships-University of Cambridge
University of East Anglia Scholarships
Education Grants by Tata Trusts
Academy Asia Senior Fellowship
BrokerFish International Student Scholarship
Inlaks Scholarships
Felix Scholarships
Scotland’s Saltire Scholarships
MBA Scholarships in Australia
Here are MBA scholarships for Indian students planning to study in Australia:
Kraft Heinz Scholarship
AGSM Global Reach Scholarship and AGSM Excellence Scholarship
Monash MBA International Women in Leadership Scholarship
ANU College of Business and Economics India Excellence Scholarship
MBS Scholarships
Adelaide MBA Scholarship
MBA (Intensive) International Prestige Scholarships
UOW Postgraduate Academic Excellence Scholarship
International Excellence Scholarship (India); South Asia Business and Law Scholarships
MBA Scholarships in IndiaÂ
Here are MBA scholarships for Indian students planning to study in India:
Now, let’s take a look at the popular MBA scholarships available across Indian institutions around the country:
Capital First MBA Scholarship (IDFC FIRST Bank)
UPESMET MBA Scholarship (University of Petroleum & Energy Studies)
Indian School of Business Scholarships
Management Develop Institute Scholarships
Institute of Rural Management, Anand
NMAT Scholarship
MBA Scholarships by IIMs
ONGC Scholarship
Aditya Birla Scholarship
Saroj Sood Scholarship
Leverage Edu Scholarship
OPJEMS (O. P. Jindal Engineering & Management Scholarships)
BML Munjal University MBA Scholarship
PNB Housing Finance Protsahan Scholarship
Capital First MBA Scholarship (IDFC FIRST Bank)
The renowned IDFC FIRST Bank provides a handful amount of INR 1 Lakh (per annum) to MBA aspirants. To help those facing financial constraints fulfill their dream of pursuing an MBA, it is one of the most prestigious MBA scholarships and the major prerequisite it demands is that the applicant must be a graduate.
Key Features
The applicant must be a citizen of India.Â
Annual income of the family must be below INR 6 Lakhs.
Some of the important documents are: Class 10 & 12 mark sheets, address proof, aadhaar card, photograph, Income Tax Return slips.
UPESMET MBA Scholarship (University of Petroleum & Energy Studies)
Recognized by the NACC, the University of Petroleum & Energy Studies organizes its own entrance exam UPESMET to shortlist students for its MBA scholarships. The qualified undergraduate students will receive a tuition fee waiver of 25% in 1st semester.
Key Features
Applicants musthave completed an undergraduate program or should be pursuing a postgraduate course.
Minimum 80 percentile in CAT/XAT.
Minimum 90 percentile in UPSETMET, MAT, NMAT, CMAT.
Candidates will be required to submit the school certificates, college mark sheet and degree.
Valid ID proof
Indian School of Business Scholarships
In collaboration with its various partners, Indian School of Business (Hyderabad) provides a variety of MBA scholarships in which students get shortlisted on the basis of their academic performance. Let us have a look at some of the scholarships for MBA at ISB and the details related to them:
ProviderÂ
Eligibility ConditionsÂ
AmountÂ
Nurture India
Selections will be made on the basis of the needs of the applicantÂ
INR 4,00,000
Citigroup Â
4-6 students on the basis of merit will be shortlisted
Approximately INR 9,00,000
NovartisÂ
On both merit and need basis, 3 students are selectedÂ
INR 4,00,000
Manhattan Review Scholarship
5 students are shortlisted on the basis of excellent academic recordsÂ
INR 1,00,000
Management Develop Institute Scholarships
MDI, Gurugram is a notable mention in the top B-schools of the country as well as the foremost institution to get accreditation by AMBA (Association of MBAs). To provide an equivalent platform to the underprivileged students and an opportunity to shape their future by acquiring an MBA degree from the leading institution, the university offers many MBA Scholarships, some of them are:Â
Name of the scholarshipÂ
Eligibility CriteriaÂ
Amount of AidÂ
O.P. Jindal Scholarships
Students must be in the 2nd-year of their undergraduate program
INR 1,50,000
Merit-Based Scholarship
5 students at the end of their 2nd-yearÂ
INR 10,000
Institute of Rural Management, Anand
If you want to get admission in leading and unique management programs like MBA Agriculture, MBA Rural Management etc. and are facing some struggles with the fundings for the tuition fee of the program, then you must consider opting for this financial aid scheme. You can easily take up the route of MBA scholarships, here are some of them available at the IRM:
Name
AmountÂ
Merit-Based Scholarships from Sir Ratan Tata
5 students are selected and provided INR 50,000 per year
GOI Scholarships to IRMA for SC/STÂ studentsÂ
10 students will be selected for the scholarshipÂ
Scholarships for SC/ST candidates Â
The entire cost of education for 15 selected students belonging to SC/ST will be funded
NMAT Scholarship
If you have a good score in NMAT by GMAC, you can avail this scholarship. The scholarship can be used in three business schools in India:
IILM School: The school offers scholarship based on your result in NMAT. Refer to the table below for details:
NMAT Score
Scholarship
195+
40% waiver on tuition fee
180-195
25% waiver on tuition fee
Alliance School of Business: The school offers merit based scholarship to students who perform well in the exam. Refer to the table to know the details:
NMAT Score
Scholarship reward
No. of Scholarships
210+
50%
Top 10 students
180 to 209
35%
Top 10 students
160 to 179
25%
Top 20 students
Thapar School of Management: The school offers 75 scholarships to students based on their merit on the scholarship test.
MBA Scholarships by IIMs
Every IIM offers scholarships to meritorious students with different financial aid programs for each institute.
School
Scholarship Offered
IIM Ahmedabad
IIMA Special Needs Scholarship Scholarship for SC/ST candidates T. Thomas Scholarship
IIM Bangalore
IIMB Financial Aid Citi Women’s Leader Award IIMB PGP Alumni First Batch (1976) Scholarship
IIM LucknowÂ
Need based IIML Scholarships Industry Sponsored Scholarships Bharti Scholarship
ONGC Scholarship
ONGC Scholarship is for students in the General category who are a part of 1st year MBA. Refer to the table below for details:
Reward
Eligibility Criteria
INR 48,000 per annum is awarded to the student with INR 4,000 per monthÂ
Student must belong to General category They must be in the first year of MBA/MBBS/ Master of Geology Student must have at least 60% in Class 12th and graduation Student’s family income should be less than INR 2LPA They should be under 30 years of age
Aditya Birla Scholarship
The scholarship offered by Aditya Birla Group is for students who get selected in the esteemed indian business schools. Refer to the table below for details:
Some other scholarships for the students wanting to seek an MBA degree in India are:
National Dairy Development Board Scholarship
Scholarships form the Ministry of Tribal AffairsÂ
ISB@10 Global Scholarship
100% scholarship by the Amity UniversityÂ
50% scholarship by the Amity University
SRM Founder’s Scholarship
Merit Scholarship SRM
Merit-Cum-Means- Scholarship SRM
Scholarship for Physically Challenged / Differently Abled SRM
Scholarships for Merit SRMÂ
MBA Scholarships for Women
Here are some of the top MBA Scholarships for Women:
Scholarship
University
Cost Covered
AGSM Women in Leadership Scholarships
Australian Graduate School of Management (AGSM)
Minimum of two scholarships, each with a value of AUD$50,000 (INR 26.82 Lakh)
The 30% Club Female Business Leaders Scholarship
Alliance Manchester Business School
One full-fee scholarship and mentorship
MBA in International Management Scholarship for Women Leaders
ESCP Europe Business School
€15,000 (INR 12.52 Lakh)
Women in Management Scholarship
EuroMBA
Up to €10,000 fee reduction (INR 8.34 Lakhs)
IE Women’s Leadership Scholarship
IE Business School
30 percent of all costs
Without a doubt, an MBA from a reputable international business school distinguishes your profile on the job market. You can lessen the financial strain you will have to bear while attending this degree by finding a solid MBA scholarship. MBA counsellors at Leverage Edu can assist you with choosing the best business school and MBA specialisation, assessing your profile, writing your application essays, preparing you for interviews, and much more if you wish to pursue an MBA abroad with funding from the US, UK, Canada, or Europe.
Must Read: National Scholarships
Thus, we hope that this blog has helped you explore the plethora of MBA scholarships offered in Indian as well as international universities. If you are aspiring to opt for an MBA but don’t know which specialization or university to choose, take the assistance of our Leverage Edu experts will guide in finding an ideal program as well as an institution along with helping you throughout the admission process to ensure that you get successfully shortlisted into your dream degree!