MBA in the USA is one of the most desired programs among highly ambitious Indian students. The USA provides exceptional quality of education with around 6 universities ranked in the top 10. At the same time, the costs can be overwhelming, and merely the tuition fee for an MBA can cost a fortune for Indian students.
The complete program fees at the top-ranked universities can be around INR 1,20,00,000 - INR 1,50,00,000. Now, why is an MBA scholarship in the USA so important? First, it is a source of finance that doesn’t require any repayment so you are free of any debt at graduation. Moreover, a full scholarship MBA in the USA provides for tuition fees and covers a part of living expenses and travel allowance and sometimes even provides a monthly stipend.
If the cost makes you sweat, don’t worry; the investment is worth it! Scholarships are available to help you ease the financial burden. Scholarships are out there; you just have to find them. And that’s where Yocket Premium comes in. Yocket Premium gives you dedicated, unbiased counseling at every step of your study abroad journey. We have helped 200+ students gain admission to IVY League universities in the USA like Harvard, Yale, and Columbia. Reach out to us today!
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How Much Does it Cost to Study an MBA in the USA?
An MBA in the USA is one of the most expensive degrees. It costs around $50,000 (INR 41,71,620) - $60,000 (INR 50,05,950) per year. In addition, you will be paying for living expenses while studying in the USA which is costly. You can expect to spend around $10,000 (INR 8,34,320) - $18,000 (INR 15,01,780) per year in managing your living expenses depending on the location and lifestyle.
But do you know, the best way to save yourself from cutting a hole in your pocket? The answer is MBA scholarships in the USA for international students. Let’s take a look at how you can study MBA in the USA with a scholarship:
Popular MBA Scholarships for Indian Students in the USA
After understanding the cost of studying for an MBA in the 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 the USA. Some of the most coveted B-schools provide various merit and need-based MBA scholarships for Indian students in the 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 University awards the Stanford Knight-Hennessy Scholars Program to students enrolled 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: independence of thought, leadership driven by purpose, and civic mindset.
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Application Process |
Online application for Knight-Hennessy Scholars by the deadline. |
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Application Deadlines |
October 2024 |
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Amount Covered |
A fellowship towards tuition fees + stipend for academic and living expenses + travel stipend for an annual trip to and from Stanford |
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Number of Awards |
100 |
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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 for an MBA in the USA with a 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.
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Application Process |
Online application |
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Application Deadlines |
Application to be submitted after being admitted to the Harvard MBA program. |
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Amount Covered |
$40,000 (INR 33,37,300) per year |
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Number of Awards |
50% of the students |
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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, and leadership in different areas such as campus, professional life, or community. The final selection for MBA scholarships for Indian students in the USA will be based on personal interviews.
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Application Process |
Separate application |
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Application Deadlines |
June 2024 |
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Amount Covered |
$10,000 (INR 8,34,250) |
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Number of Awards |
4 |
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Duration |
First 3 years of MBA |
Suggested: Best Scholarships for MS in the USA for Indian Students
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 MIM programs.
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Application Process |
No separate application |
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Application Deadlines |
Program application deadline applies |
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Amount Covered |
Part of tuition fees |
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Number of Awards |
All international students are considered for the award |
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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 is the most prestigious award for bright students and covers the entire MBA tuition cost.
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Application Process |
No separate application |
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Application Deadlines |
Program deadline applies |
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Amount Covered |
Full tuition |
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Number of Awards |
20-25% of admitted students |
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Duration |
2 years |
Suggested: List of All Scholarships Available for International Students
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 scholarships in the USA.
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Application Process |
No separate application is required |
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Application Deadlines |
Same as the program application deadline |
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Amount Covered |
Full tuition |
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Number of Awards |
All students are considered |
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Duration |
2 years |
Take a look at the list of some other popular MBA scholarships in the USA for Indian students:
- Meyer Feldberg Distinguished Fellowship Program, Columbia Business School
- Stanford Reliance Dhirubhai Fellowship, Stanford School of Business
- India Trust Fellowship, Booth School of Business
- Horace W. Goldsmith Fellowship, Harvard Business School
- Diversity Scholarships, Kellogg School of Management
- Social Impact Fellowships, Wharton School of Business
From the Desk of Yocket
The ROI after an MBA from Business School in the USA is high. Every year, as many as 250,000 students enroll in top MBA universities worldwide to get their MBA, and 24% of them specialize in management programs. As per HBS, 86% of graduates who sought employment received an offer. The decision to study for an MBA in the USA program depends on individual interests, goals, and financial conditions. Aspiring MBA candidates should carefully consider the unique offerings of each institution and align their goals with the school that best suits their aspirations and values.
Are you worried about the financial aspects of an MBA in the USA? Worry not! Talking with one of our knowledgeable Yocket Experts can assist in streamlining this procedure. From a thorough profile evaluation and shortlisting universities to applying for scholarships and student visas, we have your back. Schedule A Personalized Consultation Call Today!
