Scholarships for MBA students

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Pursuing higher education, such as MBA programmes, usually entails spending a large amount of money. Students who do not come from wealthy backgrounds can have trouble making ends meet. It can also discourage them from following their dreams and ambitions. Fortunately, there is a way out of this dilemma: availing scholarships for MBA students.
Deserving candidates can apply for the same and lighten the burden of paying hefty course fees. Many B-Schools offer scholarships to students with merit, both for studying in India and abroad. There are also scholarships for MBA students that are need-based to assist individuals from financially weaker backgrounds. Here is a look at a few of the top scholarship programmes to fund MBA studies in the country and abroad.

Top scholarship programmes to fund MBA students

S. No.

Institution

Scholarship

Eligibility

Offer

  1.  

IIM Bangalore

  • Aditya Birla Scholarship
  • OPJEMS Scholarship
  • T Thomas Scholarship
  • Top 20 students of entrance exam ranking
  • Top 10 students of 2nd year
  • Academic performance, leadership qualities of PGP students
  • INR 1.75 lakh
     
  • INR 1.25 lakh
     
  • INR 1 lakh

 

  1.  

Amity Business School

  • 100% Scholarship Scheme
     
  • 50% Scholarship
  • 93% or above aggregate in class 12 (CBSE/ICSE), and 80% graduation
  • 88% or above aggregate in class 12 (CBSE/ICSE), and 75% graduation
  • 100% scholarship
     
  • 50% scholarship
     
  1.  

IFMR

  • Merit-cum-means
  • T Thomas Scholarship
  • Top class performers
  • Best outgoing student of PGDM
  • INR 2 lakh for 1st rank, INR 1 lakh for next 3 students
  • INR 1 lakh
  1.  

IIM Kolkata

Need-based assistance

For 1st and 2nd-year students based on gross family income of INR 4 lakh and below

Full or partial fee waiver

  1.  

Faculty of Management Studies

  • Nestle India Scholarship
     
  • Sanwa Bank Foundation Scholarship
     
  • GE Scholarship
  • For 1st and 2nd -year students of full-time MBA
  • 10 scholarships, 5 each to 1st and 2nd-year students
  • Students of full-time MBA based on 1st-year results
  • INR 1 lakh and INR 75,000
     
  • INR equivalent to USD500

     
  • INR 1 lakh
  1.  

IBS Mumbai

  • Merit-cum-means
  • IBSAT Merit Scholarship
  • Campus Merit Scholarship
  • Merit
  • Top 200 students based on IBSAT and GMAT score
  • Academic performance in semesters
  • Concession in fee of up to INR 2 lakh
  • Up to INR 2 lakh
  • Up to 50% tuition fee
  1.  

IIM Ahmadabad

  • Need-based
  • Industry-sponsored scholarships at year-end
  • Govt of India Merit-cum-means
  • Based on gross family income, number of dependents etc
  • Merit
  • Merit and means
  • Full or partial fee waiver




     
  • INR 2,200
  1.  

ISB

  • Manhattan Review Scholarship
  • Princeton Review Scholarship
     
  • Jamboree India Talent Promotion Award
  • GMAT students
  • Subscription to GMAT classroom prep programme and Premium Admissions Counselling Service
  • ISB PGP performance and subscription to Premium Admissions Counselling Service
  • Subscription to GMAT classroom prep programme
     
  • Merit and need-based
  • INR 1 lakh

     
  • INR 1.5 lakh


     
  • INR 1 lakh




     
  • INR 50,000


     
  • INR 1 lakh
  1.  

IIFT

IIFT Scholarship

Need-based

Payment of interest on educational loan for 2 years and 3 months

  1.  

Xavier Institute of Management

Bharti Foundation Scholarship

Merit

Course and hostel fee subject to max INR 50,000 per student per annum

  1.  

AICAR Business School

 

Merit and gender

  • 100% fee waiver for students securing 95% or above
  • 20% fee waiver for students securing 85% to 94%
  • 5% fee waiver to students securing 75% to 84%
  • 5% fee waiver to female candidates
  1.  

Institute of Rural Management

  • Sector Incentive Scholarship


     
  • AMUL-TATA Fellowship
  • Students of post grad Programme in Rural Management, and recipients of AMUL-TATA Fellowship
  • Merit-cum-means
  • INR 1 lakh




     
  • INR 1 lakh
  1.  

University of Queensland, Australia

University of Queensland Women MBA Scholarship

GMAT, work ex, English language proficiency

50% discount on tuition fee for max 2 years

  1.  

Chicago Booth School of Business

  • India Trust Fellowship
  • Akhtarali H. Tobaccowala Fellowship

Merit-based for full-time MBA students

  • One-time USD10,000 tuition award
  • USD1,000,000
  1.  

Stanford University

Stanford Reliance Dhirubhai Fellowship Programme

Merit, need-based, leadership potential, intellectual vitality

Approx USD145,000

  1.  

Wharton School of Business

  • Emerging Economy Fellowships
  • Joseph Wharton Fellowships
  • Merit-based for full-time MBA students
  • Exceptional academic performance, outstanding personal and professional records
  • Funding for 2 years

     
  • USD5,000 – USD20,000

How to Apply for Scholarships

There are several other scholarships for MBA students that you can apply for. However, those mentioned here are among the best. It is important to note that eligibility criteria and scholarship benefits are subject to change. Therefore, it is crucial to check updates and details before applying for any.

The easiest way to know which scholarships for MBA students are suitable for you is to log on to the website of the institution/funding body you’re interested in and take a look at what’s being offered. Once you have narrowed down your choices, check if you are eligible. Fill out the necessary application, attach the required documents, and send everything in.
Despite different eligibility criteria for availing scholarships for MBA students, a few basics apply to all and they can pave the way for success. Having a solid academic record is one as is acing entrance exams and tests. Possessing strong leadership qualities and being an all-rounder in academics and co-curricular activities can also increase the odds in your favour.

Be Prepared to Write a Winning Scholarship Essay

Scholarships for MBA students may or may not require candidates to write scholarship essays detailing why they’re fit to be considered. If you do need to write one, try to present yourself in the best way possible and do so in an engaging manner. You want to stand out from the rest of the applicants and push authorities of funding bodies to select you.
Highlighting leadership experience and accomplishments is a key as is the lessons you have learned during the journey to your success. When you are applying for scholarships for MBA students, it is also important to display knowledge of your chosen subject. Brush up on it so that you can present thoughts, ideas, and arguments well.

Applying for scholarships for MBA students is one of the best ways to get your education funded. Do not let financial hardships stop you from continuing your studies. Work hard, engage yourself in co-curricular activities, and strive to be the best you can.
 

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