Top Scholarships for MBA Abroad 2024: Fund Your Education

Key Takeaways:

• Diverse Funding Sources: MBA scholarships are offered by business schools, corporations, non-profits, and government agencies, with awards ranging from $5,000 to full tuition coverage.
• Merit-Based Opportunities: Over 60% of MBA scholarships are merit-based, rewarding academic excellence, professional achievements, and leadership potential.
• Application Timeline: Most MBA scholarship deadlines fall between January and March, with some programs offering early decision benefits.
• Return on Investment: MBA graduates from top-tier programs report an average salary increase of 77% post-graduation, amplifying the value of scholarship awards.
• Global Opportunities: International students have access to numerous MBA scholarships, with approximately 30% of U.S. business schools offering specific funding for foreign applicants.

Pursuing an MBA abroad can be a transformative experience, but the financial aspect often poses a significant challenge. A scholarship for MBA abroad offers a valuable solution, providing opportunities for ambitious professionals to access world-class education without the burden of excessive debt.

This comprehensive guide explores various scholarship options for MBA programs abroad available to international students, helping you navigate the complex landscape of funding your graduate education overseas. From merit-based awards to need-based grants, we'll cover a range of possibilities to support your academic and professional aspirations.

Discover Scholarship Amounts for MBA at Leading B-Schools

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 a few countries offering scholarship 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. Scholarship for MBA abroad programs in USA are abundant and varied, assisting international students in navigating the financial challenges of studying abroad. Below are the few US schools that provide scholarship for MBA abroad:

Harvard Business School

There are various scholarships provided by Harvard. It may be need-based scholarships or external funding of Harvard Business School. 

1. Need-based scholarships

The average scholarship is approximately $46,000 per year, or $92,000 total. Before applying, understand the selection criteria first:  

• Gross income from the prior three years

• Assets

• Socioeconomic Background

• Undergraduate Debt

2. External funding

As part of the external funding, students can avail of up to $30,000 (total for 2 years). The different types of external funding are given below: 

• Samvid Scholars

• Point Foundation

• American Association of University Women

• International students

Stanford Graduate School of Business

If you have received an offer from Stanford, you have the option to apply for various financial aids, including a scholarship for MBA abroad. This encompasses Stanford GSB Need-Based Fellowships, Stanford GSB BOLD Fellows Fund, Stanford Knight-Hennessy Scholars Program, etc. 

1. Stanford GSB Need-Based Fellowships

All MBA students who have demonstrated need, regardless of citizenship, are eligible for financial aid

• The average Stanford GSB fellowship is approximately $44,000 per year or $88,000 in total awards

2. Stanford GSB BOLD Fellows Fund

The Building Opportunities for Leadership Diversity Fellows Fund supports Stanford University's dedication to diversity and inclusion. 

• Funds will be up to approximately $15,000 per fellow per year or around $30,000 per fellow’s two-year MBA program
• During the selection criteria, the applicant should state how they are a member of a low-income household and/or facing socioeconomic disadvantage due to intergenerational wealth disparities

Wharton School, University of Pennsylvania

Wharton provides a broad range of fellowship opportunities, which can be a great option for those looking for a scholarship for MBA abroad. Selection criteria include personal qualities, background, academic excellence, exceptional professional development, and community involvement.

1. Forte Fellowships

This fellowship is awarded to students for their remarkable leadership in academics, professions, or creative endeavors

• Applicant should have demonstrated dedication to advancing women's empowerment in education or the workforce.
• The recipient should represent a diversity of educational and work backgrounds, career goals, ethnicities, citizenship/nationality, sexual orientation, and gender identities or expressions.

3. Joseph Wharton Fellowships

Provided to students who have an outstanding record of academic, personal, and professional achievements.

• A maximum financial grant of up to USD 20,000 is provided

Scholarship for MBA Abroad: UK

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

University of Cambridge

1. Cambridge Society Bombay Scholarship Fund

The Cambridge Society Bombay Scholarship Fund provides financial assistance to students pursuing undergraduate and postgraduate studies at Cambridge, covering a portion of their expenses. This scholarship for MBA abroad is particularly beneficial for those seeking to reduce their financial burden while studying at a prestigious institution.

• Open to candidates residing in the Indian states of Gujarat, Maharashtra and Goa
• Provides up to Indian rupees 2,50,000
• Students need to submit their academic career in India, extracurricular activities, and proof of admission. 

2. Commonwealth Scholarship and Fellowship Plan (CSFP)

Commonwealth Scholarship and Fellowship Plan (CSFP) is provided by the Association of Commonwealth Universities to Commonwealth citizens of any Commonwealth country. 

• Covers all tuition fees and various expenses
• Provided to students who are under 35 years of age

3. Gates Cambridge

Gates Cambridge selection criteria for a scholarship for MBA abroad include outstanding intellectual ability, reasons for choosing the program, a commitment to improving the lives of others, and leadership potential

• Covers the full cost of studying at Cambridge. One economy single airfare at both the beginning and end of the course is provided
• The scholarship also covers inbound visa costs & the cost of the Immigration Health Surcharge

Imperial College London

Imperial Full-Time MBA scholarships support applicants and promote diversity. Self-funded candidates are eligible for all scholarship programs, provided they meet the eligibility criteria, entry requirements, and application deadlines.

1. Imperial Excellence Scholarship

Imperial Excellence Scholarships are awarded to applicants who have showcased exceptional overall performance in both their application and interview.

• Covers up to £20,000 throughout the cycle
• The requirements are an excellent application demonstrating academic merit, strong professional or internship experience, a clear career plan, and leadership potential. 

2. Dean's Impact Scholarship

This scholarship is for candidates who demonstrate impact and achievement in areas like Entrepreneurship, Technology and Innovation Sustainability, Social Impact, and Leadership.

• Covers up to £25,000 for those who submit their application and receive an offer for the programme
• Requires a video assessment to consider whether the candidate is eligible. 

3. Advisory Board Scholarship

The Advisory Board Scholarships primary goal is to offer exceptional candidates the opportunity and resources to enroll in the Imperial Full-Time MBA program.

• Covers full tuition fees
• Your eligibility will be assessed based on your exceptional academic and professional achievements, GMAT/GRE score, admissions performance, references, and video submission.

University of Birmingham

The University of Birmingham offers several MBA scholarship for MBA abroad for international students. The below information will give you an idea of which one you can apply for. 

1. Purposeful Leader MBA Scholarship

These scholarships recognize merit, promote diverse communities, and support visionary leaders who demonstrate exceptional potential for driving positive change and innovation. 

• Covers the full-time tuition fee (£35,850 for 2024/25 entry)
• Available to one full-time MBA candidate

2. Responsible Business MBA Scholarship

This scholarship is dedicated to talented individuals who are dedicated to continually enhancing their skills and knowledge to create a better world. It supports curious thinkers from diverse backgrounds, cultures, and nationalities.

• Available as tuition fee discounts worth up to £10,000 for 2024/25 entry.
• Deadline: Sunday, June 2, 2024

Scholarship for MBA Abroad: Germany

Through an scholarship for MBA abroad in Germany, students get 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. Read further to get an idea of various scholarships.  

ESMT Berlin

ESMT Full-time MBA scholarships a popular scholarship for MBA abroad are tailored to support your pursuit of an international business career. These scholarships are awarded based on criteria such as academic excellence, personal and professional achievements, leadership potential, and exceptional interpersonal skills. Eligibility is limited to self-funded MBA candidates, and the scholarships are applicable only to tuition fees. There are two types of scholarships available:

The bifurcation of Application-driven scholarships is mentioned below for your further reference.

1. 30% Club Scholarship

ESMT aims to empower exceptional women to ascend to senior leadership positions through this scholarship. This advocates for enhanced gender diversity in boardrooms and senior management worldwide.

• A scholarship of €14,850 is provided
• It prefers outstanding women who have either excelled in leadership positions or have significant leadership potential.

2. Regional scholarships

Awarded to those with extraordinary academic and/or professional profiles. You will be expected to be an ambassador for ESMT.

• Two scholarships of €10,000 are available for Asian students
• Your academic/professional profiles should depict your leadership skills and growth potential

3. Impact Scholarship

The Impact Scholarship is aimed at individuals who have already made or will make, a positive impact in improving our world.

• Two scholarships of €4,500 are available
• Applicants should have addressed one or more of the UN’s Sustainable Development Goals.

Mannheim School of Business

The University of Mannheim has been offering grants. About 200 students receive a Mannheim scholarship every year.

1. Deutschland Scholarship

Support excellent students and aim to give them the opportunity for social commitment and personal development alongside their studies. 

• Students receive EUR 300 per month—one half from the federal government and the other half from private sponsors and funding organizations.
• The university evaluates candidates based on outstanding extracurricular activities, such as sports achievements or social commitment. 

2. Bronnbach Scholarship

The Association of Arts and Culture of the German Economy has launched the Bronnbach Scholarship program to enable future business leaders to develop their cultural skills. 

• It requires students to have an open personality and a mindset for artistic processes.
• Social responsibility is also an important criterion for the selection process

3. Mannheim Scholarship

Mannheim is shaped by innovative power and the diversity of business sectors. To maintain this position, the city promotes highly qualified specialists and young talents. 

• Provides three students with an amount of EUR 150 per month.
• Outstanding academic performance, social commitment, and personal background are important selection criteria.

Frankfurt School of Finance and Management

Frankfurt School offers attractive scholarship for MBA abroad Programmes to enhance the diversity of its MBA program. You can apply for up to two scholarships directly through your online MBA application; however, only one scholarship can be awarded.

1. Entrepreneur & Leadership Scholarship

This scholarship is provided to applicants who have demonstrated entrepreneurial and leadership skills and achievements or who have concrete plans to start their own business.

• 30% of tuition fees will be covered. 
• Academic results, GMAT scores, application quality, personal achievements, extracurricular activities, social commitment, intercultural and international experience, and professional background are considered during selection.

2. Diversity Scholarship

This is mainly for international MBA applicants who have the capability to bring diversity and a global mindset to the classroom with their background or previous experience.

• Scholarships cover up to 30% of the tuition for the respective program.
• The selection criteria encompass candidates' academic results, admission test or GMAT scores, application quality, personal achievements, extracurricular activities, social commitment, intercultural skills, international experience, and professional experience.

Scholarship for MBA Abroad: Canada

With business schools that focus on a diverse and globally relevant curriculum, Canada has become an increasingly popular destination for MBA studies. If you're looking for a scholarship for MBA abroad, Canada offers several options. Below are some of the scholarships for the Best MBA Colleges in Canada.  

University of British Columbia - Sauder School of Business

The Sauder School of Business at the University of British Columbia offers several scholarships for international MBA students. 

Visit their official page: Financing your MBA | UBC MBA

1. Responsible Business & Community Spirit Scholarship

This scholarship is for high-achieving MBA applicants who have created a positive change in the community. 

• Pays up to $10,000–$60,000 for international applicants
• The selection process considers students with a strong background in sustainability, social entrepreneurship, and commitment to social causes within their communities.

2. Madhu Varshney MBA Entrance Scholarship

Dedicated to one international applicant who demonstrates exceptional aptitude and academic excellence. 

• Covers up to 50% of tuition fees

Richard Ivey School of Business

Throughout the MBA program, from admission to convocation, Ivey Scholarships and Awards Directory and awards are available to our students.

1. Kriplani MBA Scholarship

Awarded annually to a full-time international student from India who is entering the Master of Business Administration program at the Ivey Business School. 

• The applicant should have permanent residence outside North America, demonstrate financial need, and a 700+ GMAT score is required. 
• $73,300 of tuition fees will be covered.

2. William Fuller MBA Award

This scholarship is for a full-time student entering the MBA program. 

• The applicant should have demonstrated community involvement prior to pursuing the MBA program.
• Covers up to $32,000 of the tuition fees. 

3. Schulich Award in Entrepreneurship

Schulich Awards in Entrepreneurship are awarded to an MBA student at the Ivey Business School after considering several factors. 

• A minimum 78% average CGPA is required, and one should be currently involved in their own successful business, which they personally launched.
• Provides $2,000 as a sum. 

Scholarship for MBA Abroad: Australia

An MBA in Australia is famous for its innovative business schools, cutting-edge research, and strong ties to industries. Australian universities and government bodies offer various scholarships for MBA abroad programs. These scholarships cover tuition fees and are awarded based on academic merit, leadership potential, and financial need.

University of Melbourne

The University of Melbourne offers several scholarships for international students pursuing an MBA. Below are some of them.

1. Clemenger BBDO Scholarship

This scholarship is awarded to a full-time MBA student who has a strong marketing background.

• Covers partial tuition fees ($50,000)
• Applicants must submit a Scholarship Application form

2. Dean’s International Management Scholarship

This scholarship acknowledges the exceptional calibre of international students who join Melbourne's full-time MBA program each year.

• Covers full tuition fees. 
• This scholarship prefers candidates with exceptional academic excellence and management qualities.

3. Diversity Excellence Scholarships

The Diversity Excellence Scholarships are awarded to exceptional full-time MBA candidates who will enhance their study experience with the diverse cultures, perspectives, or backgrounds they bring to the classroom.

• Covers partial tuition fees ($50,000)
• Aims for students who would bring fresh perspectives to business problems and challenges.

University of Sydney

The University of Sydney offers partial tuition fee International Students scholarships for Indian students based on academic excellence and leadership potential. Read further to get a better idea. 

1. MBA Director's Scholarship

This scholarship supports emerging leaders in all fields based on professional experience, academic achievement, community and extracurricular involvement, and leadership qualities. 

• Provides a scholarship amount of $10,000–$40,000 each
• Applicants should have an unconditional offer of admission into the MBA program

2. Sydney Scholars India Scholarship Program

This program aims to enhance the university's engagement with India through investment in research, industry collaboration, and a commitment to helping students reach their full potential.

• Covers up to tuition fees of $40,000
• The scholarship is provided to an Indian citizen and resident

3. Sydney Scholars India Equity Scholarship

This scholarship supports Indian students from disadvantaged backgrounds.

• Provides up to $100,000 scholarship
• The applicant should be an Indian citizen and should have applied for a postgraduate degree

Australian National University (ANU)

There are up to 30 merit-based, fee-waiver ANU scholarships to both domestic and international MBA students. 

1. ANU Global Diversity Scholarship

Each year, the ANU Global Diversity Scholarship attracts students from various regions of the world to pursue a degree at ANU.

• This scholarship has a value of up to $18,750 per year. Payments are made for 4 years, each semester.

• The applicant should be an overseas student as per the Education Services for Overseas Students Act 2000, not holding a 995 visa, and have received offers for ANU.

2. ANU Excellence Scholarship Program

This scholarship is provided on the basis of academic performance. 

• Provides a $5,000 discount on tuition fees for the first 12 months of study, followed by a 10% reduction in fees for each subsequent year. The award will be applied to the student's tuition fees upon enrollment each semester or session.
• The applicant should be an overseas student enrolling at ANU for the first time and have achieved excellent academics. 

Are there scholarships for Indian students pursuing an MBA abroad?

There are several scholarship for MBA abroad catering specifically for Indian students, some of them are mentioned below, with the eligibility criteria. To gain more information you can check the official website of various pages or consult a good study abroad consultancy. 

Top 6 MBA Scholarships Abroad You Need to Know

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Conclusion

Embarking on an MBA abroad is a transformative journey that offers invaluable global exposure and career opportunities. Navigating the financial aspects can be challenging, but with a plethora of scholarships available, the dream is within reach. With thorough research and careful planning, securing a scholarship can significantly ease financial burdens. Stay informed and diligent in your pursuit, and you can achieve your goal of studying at a prestigious international business school.