Wouldn’t it be empowering for your academic and career goals if your financial barrier gets removed? Indeed, the reason why international aspirants look for GMAT scholarship.
GMAT scholarship for Indian students protect them from the increasing college costs, student loan interest, and basic living expenses, thereby accomplishing their study abroad dreams.
But which are the best scholarships available, and what role does GMAT play in applying for them? Let’s go through this article to get an exhaustive understanding of the GMAT scholarship.
GMAT Overview to Study Abroad
GMAT is a computer-based adaptive exam that evaluates a candidate for various MBA programs across the globe. This test is conducted by the graduate management admission council (GMAC) consisting of four sections—integrated reasoning, analytical writing, quantitative reasoning, and verbal reasoning. Its score ranges between 200-800 scale with a validity of 5 years.
But what is the importance of a GMAT score for scholarship? And when can one opt for a GMAT scholarship? Let’s dive right into the details!
What are GMAT Scholarships 2023 and Grants?
International students can apply GMAT based scholarships to fund their study abroad courses. Under this, the universities with various management courses offer grants/scholarships based on the GMAT score. These schemes either cover a student's complete or partial tuition fees. The following are a few parameters of the GMAT exam scholarship.
- The GMAT scholarship scheme is usually of three types, need-based (for students with less privileged backgrounds), merit-based (for students with excellent academic scores or achievements in extra curricular), diversity/Gender-based, and external scholarships (by agencies and organisations.)
- The GMAT scholarships have specific eligibility criterion, application deadlines, etc.
- A high GMAT score to get scholarship doesn't assure your chance as it also depends on the student’s professional and personal profile.
However, it is still advised to attain a GMAT score above 700-750 for top b-school scholarships. Next, let’s explore the list of GMAT scholarships for Indian students.
GMAT Scholarship for Indian Students 2023
Many top universities and programs offer GMAT scholarship for Indian aspirants. Following is the list of various scholarships based on GMAT score.
|
University Name |
Scholarship Name/Type |
|
Need-Based Scholarship |
|
|
The McGowan Fellowship |
|
|
The University of Chicago Booth |
|
|
Need-Based Fellowship |
|
|
Saïd Business School |
Need-Based Fellowship |
|
Need-Based Fellowship |
|
|
Oxford and Cambridge Society of India |
OSCI SCholarship for Indian Students |
|
Need-Based Fellowship |
|
|
Need-Based Fellowship |
Now that you know the GMAT scholarships for international students and Indian students, let’s check out how to apply for or find one.
How to Find GMAT Scholarships in 2023?
You can get numerous options if you properly search for the GMAT scholarships (MBA programs). However, consider the following parameters for effective research.
- You can use the MBA scholarship search engines like scholarshipportal.com, scholarships.com, studentscholarshipsearch.com, etc.
- You can check Google alerts for business fellowships and business school scholarships.
- You can subscribe to the desired university’s scholarship notifications.
- Seek help from the Yocket counsellors for submitting a GMAT scholarship application without any difficulty.
- You should make a strong profile with amazing academic experience, leadership attributes, work experience, and goal clarity. As the universities often look at overall goals and GMAT scores while allocating scholarships.
Additionally, you must avoid these mistakes while applying for the GMAT scholarship.
- Do not write a generic statement of purpose (SOP).
- Don’t avoid the guidelines specified in the application process.
- Don’t be inconsistent.
- Be clear about your future expectations.
Now that you know the crucial steps for a GMAT scholarship application let’s explore a few GMAT scholarships for international students.
Best GMAT Scholarships for International Students 2023
Here is a list of the top GMAT scholarships offered by renowned business schools. These are for the students who wish to pursue MBA abroad.
|
University Name |
Scholarship Type |
Valid for |
Wharton School of Business |
Joseph Warton Fellowship |
Students with exceptional profile and academic background |
|
Social Impact Fellowship |
The aspirants who want to serve non-profits |
|
|
Emerging Economy Fellowship |
Candidates of 2-year MBA program |
|
|
Horace W. Goldsmith Fellowship |
First-year MBA student with an experience in non-profit |
|
|
HBS Fellowship Program |
Need-based |
|
|
Stanford Reliance Dhirubhai Fellowship |
For students who will come back to India and work for at least 2 years |
|
|
Haas School of Business |
Dr Tahir Fellowship |
Students of Undergraduate program from Asian countries |
|
Booth School of Business |
Akhtar H. Tobaccowala Scholarship |
Indian students pursuing full-time MBA program |
|
The Zonis Fellowship |
Students with exceptional profile and academic background |
|
|
Kellog School of Management |
Kellog Scholarship |
Full-time MBA Student |
|
Kellog Finance Network Scholarship |
MBA Finance Student |
|
|
B.K Bitla MBA Scholarship |
Students of business programs |
|
|
Tuck School of Business, Dartmouth College |
Forte MBA Fellowship for Women |
Female student enrolled in MBA (Merit-based) |
|
The Willard M. Bollenbech Jr. 1949 Fund |
Students with exceptional profile and academic background |
|
|
INSEAD Cristina Law MBA ‘91D Endowed Scholarship for Asian Women |
Female students who have a fantastic background in Asia and are willing to work for their country |
Along with the information on GMAT scholarships for international students, it is paramount to know how are scholarship based on GMAT score. Let’s check!
What is a Good GMAT Score for MBA Scholarships?
Even though many universities consider a candidate’s profile with a well-written statement of purpose, letter of recommendation, CV, passport, and other documents, still GMAT scores can have an immeasurable impact.
Therefore, the better a GMAT score, the more are chances to get a GMAT scholarship. In fact, in the case of merit-based GMAT score required for scholarship, it is advised to get 700+ marks or the requirement of desired university/program/organisation.
Additionally, you need to understand the importance of applying early to a scholarship. As often, it is given to worthy initial applications.
How Many Hours to Study to Improve GMAT Score
We understand that applying for a GMAT scholarship can be intimidating. Therefore, if you need help with GMAT registration, preparation, or application for a scholarship, end the hassle by signing up at Yocket.
Frequently Asked Questions About GMAT Scholarships 2023
Ques. What is the best GMAT score for full scholarship?
Ans. With a solid work experience, profile, and GMAT score above 750, one can get a 100% scholarship.
Ques. Does GMAC offer any scholarships or financial aid?
Ans. No, GMAC does not offer scholarships based on the GMAT scores of a student.
Ques. What is the maximum amount of scholarship that one can get from the GMAT?
Ans. Students with a GMAT score of 600 and above become eligible for merit-based scholarships. However, the amount of scholarship varies based on the university, b-school, or management program.
Ques. Can I get a full scholarship to Harvard University?
Ans. Harvard does not offer merit-based aid or full-ride scholarships. However, they do meet 100% of student demonstrated financial requirements like auto-zero EFC on FAFSA.
Ques. Which MBA b-schools offer the most scholarships?
Ans. Many b-schools abroad like Harvard Business School, Duke University, China Europe International Business School, etc, offer MBA scholarships.