Scholarship for MBA Abroad

A Guide to MBA Scholarships Worldwide

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Scholarship for MBA Abroad

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Scholarship for MBA Abroad: Types OF MBA Scholarships
Explore Scholarship Amounts for MBA Abroad at Top Business Schools
Scholarship for MBA Abroad Across Different Countries
Scholarships for MBA Abroad Tailored for Indian Students
- Tips to Increase Your Chances of Getting a Scholarship for MBA Abroad

Considering pursuing an MBA abroad but worried about the high costs? Fear not! In this comprehensive guide on scholarships for MBA abroad, we've curated a list of opportunities tailored to ease the financial burden of your educational journey. Explore the avenues we've uncovered to help you achieve your professional aspirations without draining your savings. Dive in and discover the possibilities that await you!

Scholarship for MBA Abroad: Types OF MBA Scholarships

In pursuit of an MBA, many aspirants seek financial assistance through scholarships. There are a variety of scholarships for MBA Abroad available, each catering to different categories of students based on various criteria. Here, we’ll delve into the different types of scholarship for MBA Abroad:

Types of Scholarships for MBA abroad	Description
Merit-based Scholarship for MBA abroad	Merit-based scholarships for MBA abroad recognize academic excellence, offering financial aid based on achievements and potential
Need-based Scholarship for MBA abroad	Need-based scholarships for MBA abroad cater to students facing financial constraints, offering assistance based on individual financial need and merit
Scholarships for underrepresented groups for MBA abroad	A scholarship for underrepresented groups is financial aid specifically designed to support individuals from marginalized or minority communities in pursuing higher education.
Specialised Scholarship for MBA abroad	A specialized scholarship for MBA abroad is a financial award designed to support students pursuing specific fields or programs within the realm of international business education

Explore Scholarship Amounts for MBA Abroad at Top Business Schools

Financial aid information is not shared by all business schools, but some B-schools do reveal the details of the funds. Please note that the details concerning the scholarship for MBA abroad can vary significantly amongst various institutions, making it essential for prospective students to thoroughly research according to their individual needs and aspirations. Below are the few schools that have disclosed the amount of funds offered for scholarships for MBA abroad:

Harvard Business School has declared that, annually, 50% of its MBA candidates avail some form of financial aid. The scholarship for MBA abroad typically ranges from a modest sum of $2,500 to a substantial amount of $76,000 a year. The previous academic year witnessed the mean need-based scholarship working out to $42,000 per year, amassing to a significant $84,000 across a span of two years.
Stanford Graduate School of Business does not grant merit-based scholarships. It does, however, award an annual fellowship averaging around $44,000, aggregating to a total of $88,000 of need-based aid for the Class of 2023.
At INSEAD, more than 150 types of scholarships are available. On average, around 36% of its students get financial assistance, averaging at about €21.1K or roughly $23,000.
HEC Paris, a business school which touts a significant international demographic with 95% of its students hailing from different corners of the globe, is preeminent for its vigorous scholarship programs. Courtesy of generous donations by the HEC Foundation, the institution is able to annually allocate more than €1,000,000 in the form of scholarship for MBA abroad.
London Business School, with 90% international students, offers 100 internal scholarships for MBA and 38 external ones.
Spain's IE Business School, with an international student ratio of 95%, allocated €19M in scholarships for the 2022-2023 academic year, benefiting students from over 100 countries.

Scholarship for MBA Abroad Across Different Countries

In an increasingly interconnected and globalized world, pursuing an MBA degree abroad can be a game-changer for aspiring business professionals. Studying abroad provides an opportunity to gain international exposure, understand global business practices, and build a diverse professional network. However, the cost of pursuing an MBA abroad can be substantial. Therefore, we have accumulated a list of few countries offering scholarships for MBA abroad.

Scholarship for MBA Abroad: USA

The United States is renowned for having some of the world's most prestigious business schools. With a plethora of MBA specializations and a vibrant, diverse culture, it is a highly sought-after destination for business education. MBA scholarships in the USA are abundant and varied, assisting international students in navigating the financial challenges of studying abroad.

Scholarships in USA	Eligibility Criteria
Fulbright Scholarships	Applicants must have at least three years of full-time (paid) professional work experience relevant to the proposed field of study by the application deadline They should demonstrate experience in leadership and community service
Stanford Reliance Dhirubhai Fellowship	This fellowship provides financial assistance to Indian nationals to pursue an MBA at Stanford Graduate School of Business. The candidate selected for the Stanford Reliance Dhirubhai Fellowship Program will receive financial assistance for about eighty percent of the cost of tuition fees and other costs related to the program for each semester in the two years.

Scholarship for MBA Abroad: UK

Exploring opportunities for pursuing an MBA abroad is an exciting endeavor, and for many aspiring students, securing financial aid is a crucial step. In this guide, we delve into scholarship options specifically tailored for pursuing an MBA in the United Kingdom, offering valuable insights and resources to support your academic journey.

Scholarships	Eligibility Criteria
Chevening Scholarships	They should be a citizen of a country or territory eligible for the Chevening Scholarship. They should commit to returning to their country of citizenship for at least two years following the completion of their award. They should demonstrate a minimum of two years of work experience, equivalent to approximately 2,800 hours.
Commonwealth Scholarships	Applicants must be citizens of an eligible Commonwealth country or have been granted refugee status by one. Alternatively, they can be British Protected Persons. Applicants should be permanent residents of an eligible Commonwealth country. Applicants must be available to commence their academic studies in the UK by the beginning of the UK academic year in September 2024.

Scholarship for MBA Abroad: Germany

Studying for an MBA in Germany scholarship support not only alleviates financial concerns but also offers an invaluable opportunity to gain a global perspective, access a wide network of professionals, and develop skills essential for leadership roles in the international business arena. Various programs offer an array of scholarships for MBA abroad specifically catering to international students in Germany.

Scholarships	Eligibility Criteria
DAAD Scholarships	Applicants should have a minimum of two years of relevant and verified work experience, including research work, and possibly teaching or graduate assistantship. Fulfillment of language-related requirements as stipulated by the DAAD. The academic degree qualification should not exceed six years from the completion of the applicant's bachelor's degree. This means that the bachelor's degree should have been completed within the last six years. If intending to stay in Germany for up to six months, applicants must have resided in their country of residence for at least one year at the time of application.
ESMT Women’s Academic Scholarship	Female candidates who have demonstrated exceptional professional achievements and achieved a GMAT score exceeding 650 are eligible for this scholarship opportunity. Candidates must submit their official GMAT scores, which should not be older than five years. Candidates are required to complete a scholarship essay as part of their ESMT online application. This essay should detail how they meet the criteria for this scholarship and showcase their qualifications and achievements.

Scholarship for MBA Abroad: Canada

Canada is known for its high quality of life, multicultural society, and excellent education system. With business schools that focus on a diverse and globally relevant curriculum, Canada has become an increasingly popular destination for MBA studies. Various MBA in Canada scholarships are available to support international students who wish to pursue the Best MBA Colleges in Canada in the welcoming and thriving environment that Canada offers. Few are some of the scholarship for MBA abroad, specifically Canada.

Scholarships	Eligibility Criteria
Canada-ASEAN Scholarships and Educational Exchanges for Development (SEED)	Applicants must hold citizenship in one of the ASEAN member states. Applicants should be currently enrolled full-time at a post-secondary institution located in an ASEAN member state. Applicants must be paying tuition fees to their institution at the time of application and commit to continue doing so for the entire duration of their exchange program.
Ontario Graduate Scholarship (OGS)	Eligible programs are those offering full-time study (including MBA) for two or three terms at the University of Toronto, leading to a graduate degree. A full-time student is defined as one enrolled in at least 60% of a full course load (or 40% for students with a permanent disability), as per their institution's definition; Program eligibility varies by graduate unit, so applicants should review the specific criteria outlined by their intended graduate unit to confirm eligibility for the OGS competition. Applicants must have achieved at least an A- (or equivalent) in each of the last two completed years of study (full-time equivalent). For those with two or more years of graduate studies at the time of application, an overall average of at least A- (or equivalent) on all completed graduate courses is required.

Scholarship for MBA Abroad: Australia

MBA in Australia, with the support of scholarships, is a pathway that combines world-class education with a vibrant multicultural experience. Australia is renowned for its innovative business schools, cutting-edge research, and strong ties to industries, making it an attractive destination for ambitious students aiming to elevate their careers. The country's education system is known for its practical approach and emphasis on research and innovation, attracting skilled international students; Australian universities and government bodies offer a variety of scholarships for MBA abroad.

Scholarships	Eligibility Criteria
Australia Awards Scholarships	Applicants must be citizens and residents of a participating country, such as India or Bangladesh. Applicants should not hold permanent residency status in Australia or New Zealand. Applicants must be over 18 years of age as of February 1st of the scholarship's commencement. Demonstrated proficiency in the English language, validated by recent scores from either the IELTS or TOEFL exam:IELTS: Minimum score of 6.5; TOEFL-iBT: Minimum score of 78; PTE: Minimum score of 58.
AGSM Global Reach Scholarship	The scholarships for MBA abroad are available to candidates from all over the world who are pursuing an MBA. Applicants must have received an official offer osf admission to the AGSM Full-Time MBA program to be considered for these scholarships

Scholarships for MBA Abroad Tailored for Indian Students

There are several scholarships for MBA abroad catering specifically for Indian students, some of them are mentioned below, with the eligibility criteria:

Types of Scholarships for MBA Abroad	Description
National Overseas Scholarship	If you’re an Indian student, you might be interested in the National Overseas Scholarship, which is offered by the Ministry of Social Justice and Empowerment. This scholarship can provide you with up to US$15,400 to help cover your costs. To qualify, you need to come from a family with an annual income of less than US$10,800 and be under 35 years old. You should also have at least a 60 percent score in your undergraduate degree, and it’s important to note that only two children from the same family can apply for this scholarship.
Fulbright-Nehru Master’s Fellowships	The United States-India Educational Foundation offers the Fulbright-Nehru Master’s Fellowships. This funding can help with your tuition, living expenses, and related costs. While it may not cover 100 per cent of your tuition, it also supports your J-1 visa application, provides accident and sickness coverage as per U.S. guidelines, and even includes round-trip economy class travel from your home city to your U.S. host institution. To be eligible for this one- to two-year scholarship, you’ll need to show leadership qualities, have a degree equivalent to a U.S. bachelor’s with at least 55 per cent marks, possess at least three years of professional work experience, and be committed to giving back to your community after your studies.
Akhtarali H. Tobaccowala Fellowship	This fellowship, established in memory of Akhtarali H. Tobaccowala, a 1952 Chicago Booth graduate, is awarded to two students pursuing a full-time MBA at Chicago Booth, providing US$25,000 in financial aid.
GREAT Scholarships India	The GREAT Scholarship, funded by the UK government’s GREAT Britain Campaign and the British Council, is worth a minimum of US$13,600. To be eligible, you should be an Indian citizen with an undergraduate degree, motivation, and a genuine interest in your proposed subject area. You also need to meet the English language requirements of the UK university.
Inlaks Shivdasani Scholarships	If you’re an Indian student aiming for a full-time master’s program, including an MBA, in top American, UK, or European institution, you might want to look into the Inlaks Shivdasani Scholarships. To be eligible, you need to hold an Indian passport and live in India when you apply.
Felix Scholarships	If you’ve got your sights set on graduate studies and you’re an exceptional student from India, the Felix Scholarship is your ticket to explore a wide range of subjects at the University of Oxford, the University of Reading, and the School of Oriental and African Studies at the University of London.

Tips to Increase Your Chances of Getting a Scholarship for MBA Abroad

Securing Scholarship for MBA abroad can significantly alleviate the financial strain of pursuing high-quality international education. In this regard, knowing the right strategies to enhance your probability of success is crucial. In correspondence to this, the following outlined pointers aim at guiding you through this process, utilizing simple language and active voice to ensure understanding and efficacy.

1. Comprehensive Research: To increase your likelihood of receiving Scholarship for MBA abroad, the first step involves a thorough exploration of available opportunities. These could encompass both the scholarships provided by your desired institution and other external funding bodies.

2. Well-crafted Personal Statement: Scholarship for MBA abroad are often accompanied by a personal statement requirement. Strive to present a compelling narrative that elucidates your uniqueness, dedication to the field, and dire need for financial support.

3. Stellar Academic Record: Scholarship committees often prioritize candidates exhibiting an exemplary academic track record. Therefore, your persistence in maintaining superior grades and participating in extracurricular activities can significantly increase your chances.

4. Eagerness for Cultural Exchange: International scholarships often encourage cultural exchange. Hence, demonstrating your zeal towards embracing and contributing to a diverse culture can be a robust strategy.

5. Timely Applications: Lastly, adhering to deadlines is critical. Scholarships for MBA abroad typically have stringent timelines, and submission delays can jeopardize your chances. Plan your application process strategically to avoid last-minute hustle.

In conclusion, strategic planning, diligent effort, and a thorough understanding of scholarship criteria play a significant role in boosting your likelihood of securing an MBA scholarship abroad. Commit to the outlined strategies to successfully navigate this process.

Conclusion

In conclusion, an MBA degree from an international institution can enhance your career growth and personal development. The diverse range of scholarships for MBA Abroad available is a testament to the global recognition of the value that an international MBA holds. merit-based to need-based and specialized scholarships aspiring MBA candidates have a plethora of options to alleviate the financial hurdles associated with studying abroad. The pursuit of a scholarship for an MBA abroad presents a unique opportunity for aspirants to gain global exposure and develop their professional competencies. Candidates must approach the scholarship for MBA abroad application process with diligence, tailoring their applications to highlight their strengths and alignment with the scholarship's objectives.

Do I need to take an English language proficiency test?

Many MBA programs abroad, especially in English-speaking countries, require proof of English proficiency through tests like TOEFL or IELTS. However, if you've studied in English or worked in an English-speaking environment, you might be exempt from this requirement in some cases.

How can I secure scholarships or financial aid for an MBA abroad?

Scholarships, grants, and financial aid opportunities are available. You can explore scholarships offered by universities, government programs, and external organizations. Start your search early and make sure to meet all application deadlines. Additionally, many universities offer merit-based and need-based financial aid to eligible students.

What is the typical application timeline for MBA programs abroad?

The application timeline can vary, but generally, it's recommended to start the application process at least a year in advance. Most MBA programs have multiple application rounds, so it's essential to check the specific deadlines for the programs you're interested in.

Can I work while pursuing an MBA abroad as an international student?

Many countries allow international students to work part-time during their studies, but there are often restrictions. After completing your MBA, you may also be eligible for post-graduate work opportunities. The rules and regulations depend on the country, so it's essential to research and understand the specific policies.

How can I prepare for the GMAT or GRE exams?

Preparation for these standardized tests typically involves self-study using prep books, online courses, or enrolling in test prep programs.

Many students find it helpful to take practice exams to gauge their progress. Consider your study habits and schedule to choose the most suitable preparation method.

Know Your Author

Abhyank Srinet

Study Abroad Expert

Abhyank Srinet, the founder of MiM-Essay.com, is a globally recognized expert in study abroad and admission consulting.His passion lies in helping students navigate the complex world of admissions and achieve their academic dreams. Having earned a Master's degree in Management from ESCP Europe, Abhyank's expertise in data-driven marketing strategies has driven growth for some of the most competitive industries. As the founder of MiM-Essay.com, he has helped thousands of students get into top business schools with a strong emphasis on research, shortlisting, and applying to schools from a single platform. His dedication to education has also led him to create MentR-Me, a free-to-use social platform that simplifies the study abroad process for students, while providing universities with a powerful recruitment tool. As a leader in the field of admission consulting, he is constantly researching and implementing the latest strategies to ensure that his clients receive the best possible guidance. He leads the Business Development and Digital Marketing side of both companies, and has grown both ventures to 7 figure revenue.His unique insights, experience, and dedication to his clients make him a valuable resource for anyone seeking to advance their education or career.