ISB MBA Scholarships: Types, Eligibility & Application Tips

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ISB MBA Scholarships: Types, Eligibility & Application Tips

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Types of ISB MBA Scholarships
Eligibility Criteria for Admission
ISB MBA Scholarships for Indian Students

🎯Key Takeaways – ISB MBA Scholarships

✅ Scholarship Types: ISB offers merit-based, need-based, and corporate-funded scholarships to deserving students.

✅ Merit-Based Awards: Scholarships range from ₹5 lakh to full tuition coverage based on academic excellence and leadership potential.

✅ Financial Aid: Nearly 40% of ISB students receive financial assistance through institutional or external scholarships.

✅ Need-Based Criteria: Awards are granted after evaluating family income, assets, and overall financial background.

✅ External Opportunities: Notable external scholarships include Citi, OP Jindal, and Buddha Fellows Awards for exceptional applicants.

Pursuing an MBA at the Indian School of Business (ISB) is a major milestone for professionals aiming to accelerate their careers. To support deserving students, ISB offers a wide range of scholarships under its Post Graduate Programme (PGP), commonly known as ISB MBA scholarships. But how can you make the most of these opportunities to reduce your financial burden? These awards go beyond financial aid — they recognize academic excellence, leadership potential, and diverse backgrounds. Crafting a strong, goal-driven application that aligns with ISB’s values can greatly improve your chances of earning an ISB MBA scholarship.

Types of ISB MBA Scholarships

The ISB MBA offers a range of scholarships to support students in their pursuit of an MBA degree. These scholarships, known as ISB MBA Scholarships, aim to recognize and reward academic excellence, leadership, and diversity. ISB also provides opportunities for financial aid through ISB PGP Scholarships, ensuring that deserving candidates can pursue their education without financial constraints. The scholarships include both merit-based and need-based options, along with donor and corporate-sponsored awards, and diversity-focused initiatives.

1. Scholarships by ISB

Here is a detailed table showing the scholarships offered by the Indian School of Business (ISB):

Category	Name of the Scholarship	Description	Scholarship as % of Tuition Fee
Merit	Dean Don Jacob's Memorial Scholarship	Awarded to an applicant high on merit	50%
Merit	Prof. Manasa Mandava Memorial Scholarship	Awarded to a woman applicant high on merit. It will be awarded in two tranches: 25% at the start and 25% after core terms completion	50%
Merit	ISB Merit Waiver	All applicants will automatically be considered for available merit-linked tuition waivers	25%-100%
Diversity	ISB Merit by Diversity Waiver	Applicants from diverse backgrounds in education or profession and high on merit will be considered	25%-100%
Diversity	International Diversity Waiver	Applicants with international passports and high on merit will be considered	25%-100%
Need-cum-Merit	ISB Need-cum-Merit Waiver	Family income not more than INR 18,00,000 (including applicant’s pre-ISB income)	25%
Diversity	AIESEC – ISB Waivers	Applicants who are also AIESECers can apply for this waiver	25%
Diversity	Bridge to India Waiver	Applicants currently working abroad and planning to return to India can apply	25%
Diversity	Armed Forces Scholarship	Offered in honour of armed forces personnel who keep our nation safe	50%

2. Donor-Supported Scholarships

In addition to institutional scholarships, ISB collaborates with donors to offer specific awards under the ISB PGP Scholarships framework. These scholarships provide additional avenues of financial aid:

Category	Name of the Scholarship	Description	Scholarship as % of Tuition Fee	Scholarship Amount in Lakhs
Merit	Bajaj Auto Scholarship	Bajaj Auto sponsors three merit-based scholarships. The awardees of this scholarship are known as "Bajaj Auto Scholars".	100%	N/A
Merit	Deepak Parayanken Tuition Waiver	Deepak Parayanken, an alumnus of the PGP Class of 2011 sponsors two merit-based scholarships, and at least one of these is awarded to a female student.	N/A	15
Need-cum-Merit	Need-cum-Merit Scholarship (Anonymous Donor)	The donor has sponsored need-based scholarships for the PGP program. The scholarship amounts will be paid into the awardees' accounts after enrolment. ISB Need-cum-merit based criteria.	25%-100%	N/A
Need-cum-Merit	Anonymous Donor	The donor has sponsored need-based scholarships for the PGP program. ISB Need-cum-merit based criteria.	25%	N/A
Merit	Alumni Endowment Fund Tuition Waiver	The Alumni Endowment Scholarship awards two merit-based scholarships to the students of PGP program every year.	25%	N/A
Diversity, Need & Merit	Visiting Faculty Scholarship	The visiting faculty scholarship is awarded to an international student of PGP program every year.	25%	N/A
Need-based	Ramesh C. Khanna Nurture India Scholarship	Amit Khanna, the alumnus of the PGP Class of 2004, has instituted this need-based scholarship and it is awarded to a student who is the sole earning member of her/his family. An essay needs to be submitted, based on which the donor would select the candidate. ISB Need-cum-merit based criteria.	25%	N/A
Diversity or Need	Ishwar Prakash Agarwal Scholarship	Alok Aggarwal, alumnus of the PGP Class of 2004, has instituted a scholarship for the differently/specially abled. If none qualifies, this scholarship will next be offered to Women returning back to work after a sabbatical/raising family.	N/A	6
Merit or Need	Aakash Tuition Grant	Aakash Chaudhry, the alumnus of the PGP Class of 2004, has instituted a need/merit-based scholarship for PGP Programme.	N/A	5
Need-based	Jagannath Arora Scholarship	Neeraj Arora, alumnus of PGP Class of 2006 sponsors a need-based scholarship in the name of his father Mr. Jagannath Arora. The awardee of this scholarship is known as "Jagannath Arora Scholar". ISB Need-cum-merit based criteria.	N/A	5
Need-based	PGPMAX Co 2012 Scholarship	Sponsored by the Alumni of PGPMAX Class of 2012, this need-based scholarship is awarded to applicants coming from the social sector. The applicants will have to submit an essay on "Giving back to society", based on which the awardee will be selected. ISB Need-based criteria.	N/A	6.25
Need-cum-Merit	Vidula Jalan Scholarship	Instituted in memory of Late Vidula Jalan, an alumna of the School from the PGP Co2003, the scholarship is a generous gift by the Anshuman and Vidula Jalan Foundation, which will be awarded on a need-cum-merit basis to two PGP students (one female and one male), commencing from the Class of 2025.	100%	N/A
Diversity cum Merit	Indira - Vasudha Scholarship	Yashraj Erande, an alumnus of the PGP Class of 2006, has instituted a tuition waiver to be granted annually to one female PGP candidate. The waiver will cover up to 25% of tuition fees based on merit.	Up to 25%	N/A

3. Scholarships given to Graduating Students of ISB

Here is the line followed by the table showing scholarships given to graduating students of ISB:

Category	Name of the Scholarship	Description	How to Apply?	Scholarship as % of Tuition Fee	Mode of Disbursal
Need	ISB's Develop India Scholarship	This scholarship has been instituted by the school to help graduating students of ISB venturing into social impact start-ups, Non-Profit / NGO, and the Development sector or returning to the PSU/government sector and having Educational loans.	Application with SOP	EMI up to 24 months	Paid to the student's Loan account

Check out- Fees, financing and scholarships at ISB MBA

Eligibility Criteria for Admission

To qualify for the prestigious ISB MBA program, candidates must meet specific eligibility criteria that ensure a diverse and capable cohort. Here’s a detailed look at these requirements:

1. Educational Background

Undergraduate Degrees: Candidates are required to hold an undergraduate degree in any discipline from a recognized institution. This flexibility allows ISB to attract a diverse range of applicants from various academic backgrounds, including engineering, arts, commerce, and sciences
Importance of Academic Performance: While the degree is essential, ISB also considers the academic performance of applicants during their undergraduate studies. A strong academic record can enhance a candidate’s profile, particularly when competing for merit-based scholarshipsISB.

2. Work Experience

Professional Experience Requirement: Generally, applicants are expected to have a minimum of two years of professional work experience. This requirement ensures that students come with practical insights and a foundational understanding of workplace dynamics.
Consideration for Exceptional Candidates: ISB is known for its flexibility in this area. Exceptional candidates with less than two years of experience, such as recent graduates with outstanding academic records or significant accomplishments, may still be considered for admission, this approach allows ISB to maintain a high standard while also providing opportunities for promising individuals.

3. Standardized Test Scores

GMAT or GRE Requirement: Applicants must submit either GMAT or GRE scores as part of their application. These standardized tests assess critical thinking, analytical writing, and quantitative skills—attributes essential for success in an MBA program.
Focus on Competitive Scores: While there is no specific cut-off score, candidates are encouraged to aim for competitive scores, as this can significantly impact their admission prospects. The average GMAT score for successful applicants typically ranges from 650 to 720, indicating the level of competition.
Test Validity: It’s important to note that GMAT and GRE scores are valid for five years. Therefore, candidates should ensure their scores are current by the time of applicationI.

The eligibility criteria for the ISB MBA program are designed to select candidates who not only have strong academic backgrounds but also relevant work experience and competitive test scores. These factors collectively contribute to creating a rich learning environment that benefits all students.

ISB MBA Scholarships for Indian Students

For Indian students, ISB MBA Scholarships and ISB PGP Scholarships open doors to prestigious opportunities. Programs like the Ramesh C. Khanna Nurture India Scholarship and the Armed Forces Scholarship provide targeted support:

Bajaj Auto Scholarship

The Bajaj Auto Scholarship is a prestigious award designed to support high-achieving MBA candidates. Sponsored by Bajaj Auto, this scholarship covers the full tuition for three selected students each year.

Eligibility: The scholarship targets students who demonstrate exceptional academic performance and potential for significant contributions to the business field. Candidates are assessed based on their academic achievements, leadership qualities, and professional experiences
Impact: This initiative not only alleviates financial pressure but also encourages students to excel in their studies and contribute positively to their future workplaces. It fosters a culture of excellence and ambition among MBA aspirants

Ramesh C. Khanna Nurture India Scholarship

The Ramesh C. Khanna Nurture India Scholarship is specifically designed for students who are the sole earning members of their families.

Eligibility: To qualify, candidates must submit an essay detailing their financial situation along with proof of their income status. This scholarship aims to support those who face financial hardships while pursuing their MBA
Purpose: The scholarship seeks to alleviate the financial burden on these students, allowing them to focus on their education without the added stress of financial constraints. By supporting individuals who contribute to their families, ISB acknowledges the sacrifices made by students and their families

Armed Forces Scholarship

The Armed Forces Scholarship honors the contributions of armed forces personnel and their families.

Eligibility: This scholarship provides a 50% tuition waiver for eligible candidates who have served or are currently serving in the armed forces. It acknowledges the sacrifices made by military families and the unique challenges they face
Significance: By offering this scholarship, ISB aims to support those who have dedicated their lives to serving the nation, providing them with an opportunity to advance their education and career prospects. This initiative reflects the institution's commitment to recognizing and rewarding the sacrifices of military families

These scholarships for Indian students at ISB are designed to promote educational accessibility and equity, ensuring that talented individuals can pursue their MBA dreams despite financial constraints. For more detailed information about these scholarships, you can visit the official ISB Scholarships page.

Tips for a Strong Scholarship Application

When applying for scholarships, particularly for competitive programs like the MBA at ISB, presenting a compelling application is crucial. Here are some tips to enhance your scholarship application: Securing an ISB PGP Scholarship or ISB MBA Scholarship requires careful planning. Here are some tips to help you stand out:

Highlight Achievements

Outline Academic Accomplishments: Begin by detailing your academic successes. Include relevant grades, honors, and any significant projects or research you have undertaken. This section should reflect your dedication and ability to excel in your studies
Leadership Roles: Mention any leadership positions you have held, whether in academic settings, extracurricular activities, or professional environments. Highlighting these roles demonstrates your capacity to lead and make an impact, which is highly valued in business education
Extracurricular Activities: Include participation in clubs, organizations, or community service. This not only showcases your well-rounded personality but also illustrates your ability to manage time effectively while balancing multiple commitments

Craft Compelling Essays

Thoughtful and Authentic: Take the time to write thoughtful essays that reflect your aspirations and financial needs. Your essays should convey your passion for pursuing an MBA and how the scholarship will help you achieve your career goals
Personal Story: Share your journey, including challenges you’ve faced and how you’ve overcome them. This adds depth to your application and helps reviewers connect with you on a more personal level
Clear and Concise: Ensure your writing is clear and concise. Avoid jargon and overly complex language; instead, focus on straightforwardly communicating your thoughts. Having someone review your essays for clarity and grammar can also be beneficial

Obtain Strong Recommendations

Choose Reputable Referees: Secure letters of recommendation from individuals who can vouch for your qualifications, character, and potential. This could include professors, employers, or mentors who know you well and can speak to your strengths
Provide Context: When asking for recommendations, provide your referees with context about the scholarship and your goals. Sharing your resume and discussing your achievements can help them write more personalized and impactful letters
Follow-up: After your referees have submitted their letters, it’s courteous to thank them for their support. A follow-up note expressing your gratitude can help maintain a positive relationship for future opportunities

in their educational journeys. Scholarships not only provide financial relief but also facilitate essential networking opportunities and career advancements.

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Conclusion

Whether you're applying for ISB MBA Scholarships or ISB PGP Scholarships, these programs are designed to support talent and reward excellence. By understanding the various options available and crafting a strategic application, you can turn your MBA aspirations into reality.

What types of scholarships does ISB offer for its MBA program?

ISB provides a variety of scholarships, including merit-based, need-based, and diversity scholarships. Additionally, there are scholarships sponsored by donors and corporate organizations.

How can I apply for ISB's merit-based scholarships?

All applicants are automatically considered for merit-based scholarships; no separate application is required. These scholarships are awarded based on the applicant's overall profile during the admission process.

re there scholarships available for international students at ISB?

Yes, ISB offers scholarships such as the International Diversity Waiver, which considers applicants with international passports who demonstrate high merit.

Does ISB provide scholarships specifically for women applicants?

ISB offers scholarships like the Prof. Manasa Mandava Memorial Scholarship, awarded to a woman applicant high on merit, and the Indira - Vasudha Scholarship, a tuition waiver granted annually to one female PGP candidate based on merit.

When are scholarship decisions announced by ISB?

Scholarship decisions are typically announced along with admission offers. The specifics may vary depending on the type of scholarship and the application round.

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