Exams Know-how

GMAT Scholarship: Best GMAT Scholarship for Indian Students in 2023

Yocket Editorial Team

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.

  Table of Contents

  1. GMAT Overview to Study Abroad
  2. What are GMAT Scholarships 2023 and Grants?
  3. GMAT Scholarship for Indian Students 2023
  4. How to find GMAT scholarships 2023?
  5. Best GMAT Scholarships for International Students 2023
  6. What is a Good GMAT Score for MBA Scholarships?
  7. Frequently Asked Questions About GMAT Scholarships 2023

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

Harvard University

Need-Based Scholarship

Columbia University

The McGowan Fellowship

The University of Chicago Booth

  • The Ramakrishnan Family Scholarship
  • Akshtari H Tobaccowala Fellowship

Dartmouth College

Need-Based Fellowship

Saïd Business School

Need-Based Fellowship

London Business School

Need-Based Fellowship

Oxford and Cambridge Society of India

OSCI SCholarship for Indian Students

Massachusetts Institute of Technology

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

Harvard University

Horace W. Goldsmith Fellowship

First-year MBA student with an experience in non-profit

HBS Fellowship Program


Stanford Graduate School of Business

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

London Business School

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.

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