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.

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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.

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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.

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.

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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.

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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.

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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:

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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.

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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.

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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!