MBA: The Why, The Whats & The Hows

MBA Scholarships in USA: Application Criteria, Deadlines, Benefits, Duration & More

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MBA in USA is one of the most coveted programs among highly ambitious Indian students. Within around 6 universities ranked in the top 10, USA provides exceptional quality of education. At the same time, the costs can be overwhelming and merely the tuition fee for MBA can cost a fortune for Indian students. The complete program fees at the top ranked universities can touch around 1,20,00,000-1,50,00,000 INR. Now why is an MBA scholarship in USA so important? First of all, it is a source of finance that doesn’t require any repayment so you are free of any debt at the time of graduation. Moreover, a full scholarship MBA USA not only provides for tuition fees but also covers a part of living expenses, travel allowance and sometimes even provides a monthly stipend.

 

Have you figured out ways to finance your MBA in USA? We have prepared a guide to give you an idea about full scholarship for MBA in USA for Indian students that you must consider when applying for an MBA. In this guide, you will get a complete outlook about MBA scholarships in USA for Indian students, eligibility criteria, deadlines, duration, capacity, range and a lot more!

Table of Contents

How Much Does it Cost to Study an MBA in USA?

MBA in USA happens to be one of the most expensive degrees and costs around $50,000-60,000 per year. In addition to this, you will be paying for living expenses while studying in USA which is also a costly affair. You can expect to spend around $10,000-18,000 per year in managing your living expenses depending on the location and lifestyle. For Indian students, this cost goes up to 35,00,000-50,00,000 INR per year for tuition fees and 7,50,000-15,00,000 INR per year for cost of living.

But do you know what’s the best way to save yourself from cutting a hole in your pocket? The answer is MBA scholarships in USA for international students. Let’s take a look at how you can study MBA in USA with scholarship:

Having known about the cost of studying MBA in USA, you must have understood that it is a big financial commitment. Stanford Graduate School of Business, Harvard Business School, Sloan School of Management, Wharton School of Business, Columbia Business School, etc. are the chart toppers when it comes to leading B-schools for MBA in USA. Some of the most coveted B-schools provide various merit and need-based MBA scholarships for Indian students in USA to make their programs accessible to all.

Here is a curated list of US MBA scholarships for Indian students provided by top B-schools:

1.  Stanford Knight-Hennessy Scholars Program - Stanford Business School

Stanford Knight-Hennessy Scholars Program is awarded by the Stanford University to students enrolling in one of the seven graduate schools of the university. To select scholars for this award, the university looks for candidates who demonstrate 3 main characteristics including independence of thought, leadership driven by purpose and civic mindset.

Application Process

Online application for Knight-Hennessy Scholars by the deadline.

Application Deadlines

October 2022

Amount Covered

A fellowship towards tuition fees + stipend for academic and living expenses + travel stipend for an annual trip to and from Stanford

Number of Awards

100

Duration

Up to 3 years of graduate study

2.  Harvard Business School Scholarships - Harvard University

The prestigious HBS under Harvard University offers a need-based opportunity to study MBA in USA with scholarship. The value of this scholarship will vary depending on your need for the same and to be considered you need to provide a full financial picture.

Application Process

Online application

Application Deadlines

Application to be submitted after being admitted to Harvard MBA program.

Amount Covered

$40,000 per year

Number of Awards

50% of the students

Duration

2 years

3.  McKinsey Award - MIT Sloan School of Management

At the MIT Sloan School of Management, incoming MBA students are awarded scholarships through McKinsey and Company. To cut through the competition for this award you must demonstrate outstanding academic records, drive, leadership in different areas such as campus, professional life or community. The final selection for MBA scholarships for Indian students in USA will be based on personal interviews.

Application Process

Separate application

Application Deadlines

June 2022

Amount Covered

$10,000

Number of Awards

4

Duration

First 3 years of MBA

4.  Donald P. Jacobs International Scholarships - Kellogg School of Management

The Kellogg School of Management presents before you an array of merit-based scholarships. You will be automatically considered for these merit scholarships once admitted. The Donald P. Jacobs International scholarships are among the most popular, particularly awarded to strong international 2-year MBA and MMM programs.

Application Process

No separate application required

Application Deadlines

Program application deadline applies

Amount Covered

Part of tuition fees

Number of Awards

All international students are considered for the award

Duration

2 years

5.  Dean’s Scholarship - Stern School of Business

The Dean’s Scholarship in the name of Dean Rangarajan "Raghu" Sundaram awarded to MBA students at Stern School of Business happens to be the most prestigious award given to bright students and covers the entire MBA tuition cost.

Application Process

No separate application required

Application Deadlines

Program deadline applies

Amount Covered

Full tuition

Number of Awards

20-25% of admitted students

Duration

2 years

6.  Consortium for Graduate Study in Management Fellowship - Tuck School of Business

The Tuck School of Business at Dartmouth College is a member of the Consortium for Graduate Study in Management through which it provides merit-based MBA scholarship in USA.

Application Process

No separate application required

Application Deadlines

Same as program application deadline

Amount Covered

Full tuition

Number of Awards

All students are considered

Duration

2 years

Take a look at the list of some other popular MBA scholarships in USA for Indian students:

  1. Meyer Feldberg Distinguished Fellowship Program, Columbia Business School
  2. Stanford Reliance Dhirubhai Fellowship, Stanford School of Business
  3. India Trust Fellowship, Booth School of Business
  4. Horace W. Goldsmith Fellowship, Harvard Business School
  5. Diversity Scholarships, Kellogg School of Management
  6. Social Impact Fellowships, Wharton School of Business

All in all, an MBA scholarship in USA is the best shot to reduce your financial burden. USA universities have the reputation of awarding financial aid to around 99% students which definitely means you stand a good chance of getting one. US MBA scholarships for Indian students not only benefit students but also help in attracting and retaining ambitious individuals. To get ahead of others, you must apply for scholarships early to get maximum consideration. 

Frequently Asked Questions about MBA Scholarship in USA

Ques. Do international students receive fully-funded MBA scholarships for international students in USA?

Ans. Yes, it would be incorrect to say that international students do not receive fully-funded MBA scholarships for international students in USA but it is quite difficult to get one. There is stiff competition among the candidates and only a few awards are available.

Ques. Can I get a 100 percent scholarship for MBA in USA?

Ans. Getting a 100 per cent scholarship for MBA in USA is not a cakewalk. You need to be an exceptionally well-performing student in terms of academics as well as have some professional achievements and display leadership skills, drive and ambition among other qualities.

Ques. Can I do MBA in USA for free?

Ans. You cannot expect to do an MBA in USA for free as there are hardly any universities with no tuition fee. But you can apply for a full scholarship for MBA in USA for Indian students.

Ques. Are there MBA scholarships for women in USA?

Ans. Yes, there are MBA scholarships for women in USA such as INSEAD MBA Scholarships for Women, Financial Women’s Association of San Francisco Financial Leadership Scholarships, Forte Fellows Program, IE Foundation, PEO International Peace Scholarship, etc.

Ques. What GMAT score is required for an MBA scholarship in USA?

Ans. Having a GMAT score of 600 or above is recommended for a highly valued MBA scholarship in USA.