An MBA in Canada is a dream for many international students. With high-quality education, globally recognised business schools, and excellent post-graduation work opportunities, more than 400,000 Indian students go to Canada for higher education. However, an MBA in Canada is expensive, exceeding CAD 50,000 (INR 30 Lakhs) annually. Scholarships are essential to reduce these costs, and they make world-class MBA programs more accessible.
Read this blog to understand the best MBA scholarships for Indian students.
Key Highlights:
- Studying MBA in Canada can cost approximately CAD 40,000 - CAD 1,50,000 (INR 24.20 Lakhs or INR 90.65 Lakhs)
- Top Scholarships for an MBA in Canada include the Ontario Graduate Scholarship, the IGSES International Student Scholarship, and the MBA Foundation Study Grant.
- MBA scholarships in Canada cover upto CAD 25,000, significantly lowering the cost of education.
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Table of Contents: |
Cost of Studying MBA in Canada
The total cost of studying MBA in Canada ranges from CAD 40,000 to CAD 90,000 (INR 24 lakhs to INR 55 lakhs) depending on the university and location. This also includes your cost of living, depending on your living standards. Cities like Toronto and Vancouver are more expensive. The tuition costs and the living expenses are discussed below:
Tuition Costs
The cost of studying at top MBA colleges in Canada ranges from CAD 25,000 to CAD 50,000. Some of the top B-schools and their average costs are as follows:
|
University |
Tuition Cost (CAD) |
Tuition Cost (INR) |
|---|---|---|
|
Rowe School of Business |
25,000 |
INR 15.40 lakhs |
|
Haskayne School of Business |
44,000 |
INR 27 lakhs |
|
Alberta School of Business |
29,500 |
INR 18.15 lakhs |
|
Sauder School of Business |
53.000 |
INR 32.60 lakhs |
|
Desaultes Faculty of Management |
50.000 |
INR 30.75 lakhs |
Cost of Living
The average living cost in Canada for an international student can range from CAD 10,000 to CAD 15,000 (INR 6.15 lakhs to INR 9.25 lakhs) annually. These include rent, food, transportation, and other miscellaneous costs. A detailed overview of living costs in Canada is:
|
Parameter |
Cost in CAD |
Cost in INR |
|---|---|---|
|
Accommodation |
CAD 1000 |
INR 61,530 |
|
Food |
CAD 400 |
INR 24,612 |
|
Transport |
CAD 150 |
INR 9,230 |
|
Health Insurance |
CAD 100 |
INR 6,150 |
|
Total |
CAD 1650 |
INR 1 lakh |
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Top 10 MBA Scholarships in Canada
Canada offers multiple MBA scholarships that help international students manage the high costs of studying. Scholarships like the Ontario Graduate Scholarship (15,000 CAD/9,00,000 INR) and Rotman School of Management Scholarships (up to 50,000 CAD/30,00,000 INR) cater specifically to outstanding students, making an MBA more accessible.
Here are the top scholarships for studying MBA in Canada:
|
Scholarship Name |
Award Amount |
|---|---|
|
Ontario Graduate Scholarship (OGS) Program |
Upto CAD 15,000 (INR 9 lakhs) |
|
IGSES International Student Scholarship |
CAD 6,000 (INR 3.6 lakhs) |
|
MBA Foundation Study Grant |
CAD 5,000 (INR 3 lakhs) |
|
MBA Excellence Scholarship for Continuing Students |
CAD 2,000 (INR 1.2 lakhs) |
|
Haskayne Entrance Donor Scholarships |
Upto CAD 20,000 (INR 12 lakhs) |
|
Ivey MBA Scholarships in Canada |
CAD 15,000 (INR 9 lakhs) |
|
Alberta MBA Scholarships |
CAD 15,000 (INR 9 lakhs) |
|
Sauder School of Business Scholarship |
CAD 10,000 (INR 6 lakhs) |
|
Forté Foundation Scholarships |
CAD 25,000 (INR 15 lakhs) |
|
Joseph L. Rotman Scholarship |
Amount not specified, covers full tuition fees |
The scholarships are discussed in detail below:
1. Ontario Graduate Scholarship (OGS) Program
International students can access the OGS program if they are enrolled in a master’s or doctoral program at a partner university. Partner universities for the Ontario Graduate Scholarship Program include Brock University, Carleton University, and York University. More details about the OGS program is as follows:
|
Application Deadline |
Varies by school |
|
Award Amount |
CAD 10,000 (INR 9 lakhs) for 2 study terms CAD 15,000 (INR 6 lakhs) for 3 study terms |
|
No of Awards |
Not specified |
|
Eligibility |
|
2. IGSES International Student Scholarship
This scholarship supports talented international students pursuing MBA programs in Canada. Offered by the University of Alberta, it provides financial assistance based on academic excellence, leadership, and community engagement. Recipients benefit from tuition fee reductions, fostering a diverse learning environment.
|
Application Deadline |
Varies by embassy |
|
Award Amount |
CAD 6,000 (INR 3.6 lakhs) |
|
No of Awards |
Not specified |
|
Eligibility |
As an international student enrolled in a master’s or doctoral program at Kyushu University, you become part of a prestigious institution that values global collaboration and academic excellence. |
3. MBA Foundation Study Grant
Designed for incoming MBA students, the MBA Foundation Study Grant covers the initial tuition costs. Offered by University Canada West (UCW), it supports students needing preparatory courses to transition smoothly into the MBA curriculum. Eligibility often includes academic merit, financial need, and program-specific prerequisites.
|
Application Deadline |
January 2025, April 2025, July 2025, October 2025 |
|
Award Amount |
CAD 5,000 (INR 3 lakhs) |
|
No of Awards |
Not specified |
|
Eligibility |
You should be enrolled in an MBA program at a participating university. |
4. MBA Excellence Scholarship for Continuing Students
This scholarship rewards outstanding performance during MBA studies. It provides partial tuition waivers to graduate students who demonstrate academic excellence, leadership, and contributions to the campus community..
|
Application Deadline |
December 10, 2025 |
|
Award Amount |
CAD 2,000 (INR 1.2 lakhs) |
|
No of Awards |
Not Specified |
|
Eligibility |
You should continue your MBA at the University of Canada West with outstanding academic scores. |
Suggested: Most Affordable Business Schools in Canada
5. Haskayne Entrance Donor Scholarships
The Haskayne Entrance Donor Scholarships at the University of Calgary recognize exceptional MBA candidates who excel academically, demonstrate strong leadership potential, and actively engage in their communities. With awards of up to CAD 20,000 (INR 12 Lakhs) these scholarships support incoming students committed to academic and professional excellence. Applications are reviewed on a rolling basis.
|
Application Deadline |
Rolling admissions |
|
Award Amount |
Upto CAD 20,000 (INR 12 lakhs) |
|
No of Awards |
Not Specified |
|
Eligibility |
You should be enrolled at the University of Calgary with strong academic records. |
6. Ivey MBA Scholarships in Canada
At Ivey Business School, you can apply for merit-based scholarships covering up to 50% of tuition fees. These awards recognize your exceptional academic performance and leadership potential.
|
Application Deadline |
November and January |
|
Award Amount |
CAD 15,000 (INR 9 lakhs) |
|
No of Awards |
Not specified |
|
Eligibility |
You should be enrolled at Western University with strong academic records and leadership potential. |
7. Alberta MBA Scholarships
If you're considering the Alberta School of Business, a range of MBA scholarships awaits to support your ambitions. Entrance awards, merit-based scholarships, and funds for diverse student groups can reduce your financial burden.
|
Application Deadline |
Varies by scholarship |
|
Award Amount |
CAD 15,000 (INR 9 lakhs) |
|
No of Awards |
Not specified |
|
Eligibility |
You should be enrolled at the University of Alberta with strong academic records and financial need. |
8. Sauder School of Business Scholarship
The Sauder School of Business offers merit-based scholarships.Awards range from CAD 10,000 to CAD 40,000 (INR 6 Lakhs to INR 24.15 Lakhs), depending on your academic excellence, leadership, and community contributions. Special funding is available for candidates from underrepresented backgrounds, ensuring diversity and inclusion in their student body.
|
Application Deadline |
September 22, 2025 |
|
Award Amount |
CAD 10,000 (INR 6 lakhs) |
|
No of Awards |
Varies |
|
Eligibility |
Admission to UBC requires a minimum GPA of 3.0, a GMAT score of 650 or higher, and valid TOEFL or IELTS scores. |
9. Forté Foundation Scholarships
As a woman aspiring to lead in business, you can benefit from Forté Foundation Scholarships. These awards are offered in collaboration with top business schools and provide up to CAD 25,000 (INR 15 Lakhs). Beyond financial aid, you’ll gain access to exclusive mentorship, networking opportunities, and career development resources to fuel your MBA journey.
|
Application Deadline |
September 15, 2025, and December 8, 2025 |
|
Award Amount |
CAD 25,000 (INR 15 lakhs) |
|
No of Awards |
Not specified |
|
Eligibility |
Women pursuing an MBA degree at a participating school. |
10. Joseph L. Rotman Scholarships
Offered by the University of Toronto, this is one of the few full tuition waiver scholarships for an MBA in Canada. It is offered to students with an outstanding academic record and leadership potential.
|
Application Deadline |
No separate application is required. Submit with MBA application (usually in September) |
|
Award Amount |
CAD 10,000 to CAD 90,000 (INR 6 Lakh to 54.3 Lakh) |
|
No of Awards |
Not specified |
|
Eligibility |
GPA above 3.5, GMAT score above 650/ professional experience |
Other Notable Scholarships for MBA in Canada
Beyond the popular MBA scholarships, Canada also provides unique funding options such as the Emerging Leaders in Americas Program (ELAP) and government scholarships like the Global Affairs Canada Awards, making the MBA journey easier for Indian students.
Some other notable scholarships for MBA in Canada for Indian students include:
- Wigwamen Scholarship (CAD 2500 or INR 1.5 Lakhs)
- Thomas Beck MBA Award (CAD 5000 or INR 3 Lakhs)
- Sony of Canada MBA Scholarship - for second-year students (CAD 3000 or INR 1.8 Lakhs)
How to Apply for an MBA Scholarship In Canada?
To apply for an MBA scholarship in Canada, you must identify the right opportunities, understand eligibility requirements, and prepare strong applications. Begin by shortlisting scholarships aligned with your goals, gathering documents like SOPs, transcripts, and recommendations, and ensuring you meet all deadlines.
To apply for MBA scholarships in Canada, follow these steps:
Step 1: Visit the official website of the universities.
Step 2: Read the eligibility criteria for the university scholarship.
Step 3: Gather all necessary documents.
Step 4: Take the required tests (GMAT, IELTS, or TOEFL).
Step 5: Register and apply for the scholarship online.
Step 6: Wait to hear back from the university
Scholarships are a great way to finance your MBA education in Canada. However, you must have noticed that the commonality of bagging a scholarship in Canada purely depends upon merit, GMAT scores, high GPA, work experience, etc. This means you will have to put in extra effort and make sure you achieve great scores in your undergraduate to get a scholarship successfully.
Suggested: How to study MBA without work experience in Canada?
Tips for Getting 100% MBA Scholarships in Canada
Although most MBA scholarships in Canada cover only a part of tuition, there are also 100% scholarships available for international students. Tailored essays and academic excellence can maximise your chances of obtaining fully-funded opportunities like the Vanier Canada Graduate Scholarship (50,000 CAD/30 Lakhs INR), and many other scholarships!
- Demonstrate Academic Excellence: Maintain a high GPA (above 3.5 or 80%) and strong GMAT/GRE scores. Academic excellence is a key criterion for most scholarships.
- Craft a Winning Statement of Purpose (SOP): Highlight your achievements, career goals, and why you’re an ideal candidate for the scholarship. Craft your SOP to align with the scholarship’s objectives.
- Show Leadership and Community Involvement: Include experiences that demonstrate leadership, volunteer work, or impactful contributions to society.
- Get Excellent Recommendations: Obtain recommendation letters from professors or employers who can vouch for your capabilities and character.
- Apply Early and Widely: Increase your chances by applying to multiple scholarships and ensuring all deadlines are met.
- Use Networking and Guidance: Leverage connections with alumni or consultants like Yocket to strengthen your application.
From the Desk of Yocket
Navigating the world of MBA scholarships in Canada can be overwhelming, but with the right guidance, you can maximise its outcome. Our personalised approach will ensure you receive the best funding for your MBA. No matter your financial concerns, Yocket Premium is here to help you take the next step toward an MBA in Canada. With more than 10,000 success stories, let us guide you through the process and set you up for success in Canada!
