MBA in the UK is a globally recognized degree with around 28 institutions ranked in the QS Global MBA rankings 2022 among which 11 B-schools ranked in the top 100. One of the accolades held by top B-schools in the UK is the AACSB accreditation which is exclusively offered to 5% of the business schools in the world. With the excellent opportunities comes huge costs which are feasible when compared to the returns on investment.
Therefore, if you are looking for ways to finance your MBA in the UK, you must definitely consider UK MBA scholarships for Indian students. In this guide, we will give you a complete outlook about fully funded MBA scholarships in UK as well as other merit and need-based scholarships including the eligibility criteria, application process, deadlines, benefits, capacity, duration and more.
| Table of Contents |
Why Choose Scholarships in UK?
MBA funding UK is available in abundance for international students, given below are some reasons why international students can choose MBA funding options UK:
- Great industrial exposures: MBA funding UK from external organisations can be a great way to get immense industrial exposure, and knowing the organisation in and out.
- One-year programs: Most MBA scholarships UK are offered for 1-year MBA programs in UK, and therefore can be easily availed.
- Easy requirements and procedures: The application process, and eligibility requirements for MBA funding UK are quite simple, and can be done easily.
How Much Does it Cost to Study an MBA in UK?
The average cost of an MBA in UK is somewhere around £30,000 - £95,000 per year, the advantage being that MBA programs in UK are usually only 1 year long. You will see that the MBA tuition fees at private B-schools are much higher than public institutions.
You will also be paying the rent of accommodation, utility bills, food, transportation and personal expenses while staying in UK. Your costs will be higher if you are living in London as it can go up to £1800-2000 per month while you will need £1500-1800 per month for staying in any other part of the UK. The minimum amount that must be in your bank account to fulfill visa requirements for studying in UK is £12,180 per year for anywhere in UK and £15,180 per year for living in London.
Popular MBA Scholarships in UK
There is an array of MBA scholarships in UK for Indian students that can help you manage your expenses for studying in UK. These MBA scholarship in UK are not just provided by top universities but also private organizations and the UK Government. Some of the top B-schools offering a number of UK MBA scholarships for Indian students and discussed below are:
- Imperial College Business School
- Said Business School
- Manchester Business School
- Judge Business School
- University of Liverpool Management
Let us take a look at the details of the scholarships provided by the universities:
- Dean’s Impact Scholarship
- Executive MBA Scholarship
- Manchester Merit Scholarship
- Cambridge Judge Dean’s Scholarship
- ULMS Liverpool MBA Executive Scholarship
Let us now discuss each of these MBA scholarships UK in detail:
Dean’s Impact Scholarship, Imperial College Business School
Among various scholarships awarded by Imperial College Business School to international MBA applicants, Dean’s Impact Scholarship is counted among one of the most prestigious one. Achievement is assessed on the basis of 5 key areas including entrepreneurship, technology and innovation, leadership, sustainability and social impact.
|
Application Process |
No separate application required |
|
Application Deadlines |
Final round MBA application deadline |
|
Amount Covered |
£25,000 |
|
Number of Awards |
Varies |
|
Duration |
One-time award |
:What is the Cost of Studying MBA in UK?
Executive MBA Scholarship for Women, Said Business School
The Executive MBA Scholarship for Women in association with the 30% club is specifically meant for exceptional female candidates to increase participation of women in senior leadership positions.
|
Application Process |
Executive MBA application with supporting statement |
|
Application Deadlines |
25 July 2022 (for January intake) |
|
Amount Covered |
50% of the course fees |
|
Number of Awards |
4 |
|
Duration |
Program duration |
|
Know More About Studying an MBA Abroad |
|
Manchester Merit Scholarships, Manchester Business School
Merit scholarships as the name suggests, are awarded to outstanding applicants identified at the time of admission. To be considered, students must have a minimum GMAT score of 600. The notification of scholarship will be sent to you along with the offer for admission on a rolling basis so applying early might increase your chances of getting a scholarship.
|
Application Process |
No separate application required |
|
Application Deadlines |
Same as program application deadline |
|
Amount Covered |
Varies |
|
Number of Awards |
Varies |
|
Duration |
One-time award |
Tired of carrying out the study-abroad research by yourself? Get in touch with our Yocket Counsellors today!
Cambridge Judge Dean’s Scholarship for Outstanding Academic Achievement, Judge Business School
The Judge Business School awards scholarships to students with excellent academic records, attitude, skills, outlook, GMAT scores, etc. Applying early is the key to be considered for the Cambridge Judge Dean’s Scholarship for Outstanding Academic Achievement.
|
Application Process |
No separate application required |
|
Application Deadlines |
Apply by round 2 or 3 for MBA admission |
|
Amount Covered |
£15,000 |
|
Number of Awards |
3 |
|
Duration |
One-time award |
Suggested:GRE Practice Tests by Yocket
ULMS Liverpool MBA Excellence Scholarship, University of Liverpool Management
The ULMS Liverpool MBA Excellence Scholarship are full or partial tuition waivers awarded to academically and professionally outstanding students who have at least a 2:1 undergraduate degree, 4 or more years of work experience and leadership skills.
|
Application Process |
No separate application required |
|
Application Deadlines |
Same as program deadline |
|
Amount Covered |
Full or partial tuition fees |
|
Number of Awards |
Varies |
|
Duration |
One-time award |
:Know About Scholarships for International Students
Other Popular Scholarships for MBA in UK
Apart from the university-provided scholarships, private organizations offer the opportunity to study MBA in UK with scholarship. These scholarships are one-time awards and require a separate application so the application deadlines must be strictly adhered to. Multiple awards of each of these scholarships are given every year. Here is a table showing some other popular scholarships provided by private organizations along with the amount awarded:
|
Name of Scholarship |
Amount Awarded |
|
Chevening Scholarship |
£18,000 |
|
Inlaks Scholarship |
£72,000 |
|
GREAT Scholarship |
£10,000 |
|
£59,490 |
|
|
Felix Scholarship |
100% of course fees plus a grant for living costs and a return flight ticket |
|
Saltire Scholarship |
£8,000 |
Eligibility Requirements to Apply for MBA Scholarships in UK
As a scholarship applicant, there are several eligibility criteria you’ll have to fulfil for both half, and fully funded MBA scholarships UK. There’s high competition for these awards, so it’s advisable that you make your profile stand out among the rest of the applicants to be selected for your scholarship.
Let us have a look at a few generic eligibility criteria that most MBA funding options UK require from applicants:
- The applicant must be an international student
- The applicant must show excellent academic status and prove his or her capacity
- The applicant should be eligible to apply for an MBA degree
- The applicant should have experience in international business management
- A good GMAT or GRE scores also required
- At least two outstanding letters of reference
Other than these, some universities and scholarship agencies in UK might also require additional eligibility criteria owing to the high competition for the same. If you are looking forward to securing your scholarship for MBA funding UK for Indian students, you are advised to work on your portfolio and resume to make it stand out from the rest of the crowd.
:MBA Without Work Experience in UK
How to Apply for MBA Scholarships in UK?
Applying for scholarships abroad isn’t complicated. You can directly apply on the Business schools website online. In case of confusion, you can also reach out to the admin department of your desired university to guide you through the process.
To apply for MBA scholarships in UK:
- Visit the official website of the universities.
- Understand the eligibility criteria of the university scholarship.
- Gather the necessary documents.
- Take the required tests (GMAT, IELTS).
- Register and apply for the scholarship online.
- Await for the university response.
Here we conclude the discussion on options of scholarship to study MBA in UK. It is quite possible to land an MBA full scholarship UK and study a world-class degree at minimum cost. The costs of studying MBA in UK can be overwhelming so prepare yourself to be a top candidate right from the beginning. Also, keep in mind that you must apply as early as possible to get maximum consideration for admission and scholarships. For further information, connect with our Yocket Counsellors!