When you plan to study an MBA, you will be investing not only in enhancing your knowledge but also in securing the future. Getting a scholarship can ease the financial stress that occurs when you complete the degree from a top institution. Read on to know about the MBA scholarships available for Indian and international candidates at the different business schools globally.
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Merit-Based MBA Scholarships
These are offered to those candidates who have great academic performance. They are also offered to the students who show commitment towards society.
Some merit-based scholarships include-
- Tahir Fellowship (UC Berkeley Haas School of Business)
- Kellogg Scholarship (Kellogg School of Management)
- B.K. Birla MBA Scholarship (London Business School)
- George J. Stigler Fellowship (Chicago Booth School of Business)
Need-Based MBA Scholarships/Fellowships
These are provided by Harvard and Stanford to those candidates who have received admits from them. The need-based scholarship is determined based on the income of the student from the last three years and his other assets are also taken into account.
Stanford offers different full-tuition fellowships to students with specific backgrounds:
- Stanford Reliance Dhirubhai Fellowship
- Charles P. Bonini Partnership for Diversity Fellowship
Diversity & Gender-based MBA Scholarships
Diversity and Gender-based MBA scholarships are offered to promote diversity among the students in an MBA program. These scholarships increase the representation of students from different backgrounds and also help backward students to get enrolled in MBA programs.
Some of the best diversity-based MBA scholarships are:
- Reaching Out LGBTQ MBA Fellowship
- Forté MBA Fellowships for Women
- Consortium for Graduate Study in Management
External MBA Scholarships
Many companies that employ MBA graduates also give MBA scholarships to candidates. Apart from monetary help, these scholarships also give access to the various resources of the company.
Examples of External MBA scholarships are:
- Khosla Booth Private Equity Fellowship
- McKinsey Emerging Scholars Program
- Orbis Investment Management MBA Fellowship
External MBA Scholarships are also offered by non-profit and charitable organizations like The Aga Khan Foundation and KC Mahindra Education Trust.
MBA Scholarships for Indian and International Students
- Chicago Booth- George J. Stigler Fellowship
- Stanford GSB- Stanford Reliance Dhirubhai Fellowship,
- Charles P. Boninin Partnership for Diversity Fellowship, and
- Knight-Hennessy Scholars Program
- London Business School- BK Birla LBS Scholarship
- Oxford & Cambridge Society of India- OCSI Scholarship for Indian Students to study at Cambridge or Oxford
- Toptal- Toptal Scholarship for Women
How to research for MBA scholarships?
Log in to the website of the business schools and you will get the details about the program and the scholarship. There is a section where you will find the exclusive details about financing your MBA program.
How to apply for an MBA Scholarship?
There are several ways which you can use to apply for an MBA scholarship. The merit-based and need-based scholarships do not require additional applications from the candidate. However, the Stanford Reliance Dhirubhai Fellowship has a competitive selection process and you need to submit an additional application.
Regardless of the MBA scholarship, you need to keep some factors in mind. One must always apply early for the programs. Researching scholarships is very important. Preparing additional applications if needed is also important.
To sum up, if you are looking for an MBA scholarship make sure that you prepare for it beforehand so that you do not miss out on it.
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