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Scholarship for MBA Abroad: How to Study MBA in Foreign Countries with Scholarship?

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Rohan Deshmukh
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Dreaming of studying MBA abroad but puzzled about your finances? Well then what are scholarships for if not to help you reduce your financial burden. An MBA abroad definitely requires a great deal of financial commitment and costs about 30,00,000-75,00,000 INR per year. Even when students consider options like an education loan, you have to be worried about repayment. This is why you must definitely consider an MBA in abroad with full scholarship.

Here is how you can study MBA abroad with scholarship. In the following blog, you will find detailed information on scholarship for MBA abroad, application criteria, deadlines, capacity, amount covered and other key insights.

Suggested: Highest Paying MBA Specializations

Table of Contents

Types of Scholarships for International Students

There are various types of scholarships that international students can avail to for MBA colleges abroad with scholarship. Take a look:

  • Merit-based scholarships: The recipients of this type of scholarship are chosen on the basis of outstanding performance in a particular field which may be related to academics, athletics, some special artistic talent, extracurricular participation, and contribution to society. If such scholarships are renewable, certain criteria needs to be fulfilled to enjoy benefits throughout the program.
  • Need-based scholarships: Some universities also provide need-based scholarships for MBA in foreign countries based on need demonstrated through the application. There is always a separate application required to apply for need-based scholarships.
  • Diversity scholarships: International students from specific countries are eligible to receive diversity scholarships or country-specific scholarships which may be awarded by the government or MBA colleges.
  • Program-based scholarships: This is a very popular option for MBA colleges abroad with scholarship. Specific scholarships at B-schools are particularly designed for MBA aspirants and are usually awarded on the basis of academic and professional achievements.
  • Subject-specific scholarships: These are quite similar to program-based scholarships. Here, you will be awarded for pursuing a particular major for example MBA in entrepreneurship. The eligibility for this type of scholarship for MBA abroad is mainly based on previous academic qualifications and major that you are interested in.

Suggested: Check out popular scholarships for MBA for Indian students

How to Apply for MBA Scholarships for Indian Students to Study Abroad?

Scholarships for MBA abroad for Indian students can be applied through the following steps given below:

  1. Research for the scholarships that suit your interest: You can particularly look for MBA scholarships for Indian students to study abroad, need based scholarships, government funded scholarships, university specific scholarships etc.
  2. Contact the scholarship provider: If you are applying for a university scholarship, you can directly get in touch with the admissions officer to know more about the application process for scholarships.
  3. Send in the perfect application: Tweak your resume, submit attractive SOP, and a scholarship essay which stands out. Don’t forget to complete and review your scholarship application, and send it before the application deadline.
  4. Apply for other scholarships: Do not just rely on one scholarship for MBA abroad for Indian students, as there are a lot of study abroad applicants in need of grants, scholarships, and monetary awards. With such a huge competition, it is essential to keep applying to as many scholarships as you can.

Suggested: Eligibility Requirements for MBA Abroad

Now that you have learned about the types of scholarship for MBA abroad, you must have understood that there are a variety of options to study MBA in abroad with scholarship. Here are the top 5 scholarships to study MBA abroad with scholarship except MBA foreign universities scholarship that are applicable to various B-schools:

  1. Global Study Awards
  2. BrokerFish International Student Scholarship
  3. Central Sector Scheme of National Overseas Scholarship
  4. Go Clean Scholarship
  5. Felix Scholarship

Let us take a look at the key insights for pursuing MBA in foreign countries with scholarship:

1.  Global Study Awards

Global Study Awards have been designed to support highly motivated individuals with commitment, interest to study abroad and most importantly potential to contribute to society. The award is presented by the British Council in association with ISIC Association, StudyPortals and British Council IELTS. Therefore to be eligible for this award you must take the IELTS.

Application Process

Separate application required

Application Deadlines

Dates to be announced

Amount Covered

£10,000

Capacity

2

Duration

52 weeks

Suggested: MBA Scholarships in USA

2.  BrokerFish International Student Scholarship

Any international student can apply for the BrokerFish International Student scholarship. There is no restriction on the nationality or study program to apply for this scholarship. Moreover, you can use this award towards your tuition fee at any accredited higher education institution. An essay along with other documents must be submitted along with the application.

Application Process

Separate application required

Application Deadlines

21 December 2023

Amount Covered

$1000

Capacity

1

Duration

One-time award

Suggested: All ABout Studying MBA in Europe

3.  Central Sector Scheme of National Overseas Scholarship

This scholarship is designed by the Ministry of Social Justice & Empowerment of the Government of India specially for low income students belonging to the Scheduled Castes, Denotified Nomadic and Semi-Nomadic Tribes, Landless Agricultural Laborers and Traditional Artisans category. The recipient can pursue any master’s or PhD degree abroad with this scholarship. Moreover, 30% of the awards are reserved for women.

Application Process

National Overseas Scholarship Online Application

Application Deadlines

September-October every year

Amount Covered

$33,800

Capacity

100

Duration

Throughout the program

 

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4.  Go Clean Scholarship

The Go Clean scholarship is designed for hardworking students from any nationality. The scholarship is open for all students interested in pursuing undergraduate, postgraduate, PhD degrees in US, UK, Australia, Canada and other countries. You need to submit a 500 to 750 words essay on “How to Keep the Environment Green and Clean?”.

Application Process

Go Clean Scholarship Application

Application Deadlines

31 December 2023

Amount Covered

$3,500

Capacity

1

Duration

One-time award

Suggested: Cost of Studying MBA in UK

5.  Oxford Pershing Square Scholarship

The Oxford Pershing Square Scholarship is awarded by the Pershing Square Scholarships. The recipients will be selected on the basis of GMAT/ GRE scores, leadership potential, personal characteristics, ambitious towards their career, ability to provide sustainable solutions and can express an articulated vision on the MBA program at Oxford. To apply, you will have to submit an application, scholarship essay and attend an interview.

Application Process

Oxford 1+1 MBA application

Application Deadlines

January every year

Amount Covered

Full scholarship + grant for living expenses of at least £15,609 per year

Capacity

6

Duration

Program duration

MBA Scholarships for Women

Apart from the above mentioned MBA scholarships for Indian students, there are also scholarships especially available for women, let us explore some below:

  • London Business School Women Scholarships: This scholarship is particularly for women students enrolled in LBS, and covers 30% of the first year tuition fees for meritorious students.
  • Fondation Rainbow Bridge MBA Scholarships for African and Asian Women: HEC Paris awards this scholarship for MBA abroad for Indian students, particularly women. Through this scholarship, EUR 20,000 is awarded twice a year.
  • Nestle MBA Scholarships for Women at IMD: Awarded to women from developing countries, the Nestle MBA Scholarship amounts to CHF 25,000 per annum.

Suggested: Is MBA Worth It?

Some other women MBA scholarships for Indian students to study abroad are:

  • SDA Bocconi Scholarships for Women
  • ESADE Women of the World Scholarship
  • INSEAD Alumni Fund Women’s Scholarship
  • ESMT Women’s Academic Scholarship

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With this we come to the end of our discussion on MBA from abroad with scholarship. Apart from some of the most popular scholarships discussed above, you will find a number of MBA foreign universities scholarship for studying in the UK, USA, Canada, Australia, Germany or any other country for that matter. You will be presented with several opportunities along the way but the task for you is to prove yourself worthy of that award and get a full scholarship for MBA abroad. Not only excellent grades but also your leadership and communication skills, talent and professional experience are important for securing an MBA in abroad scholarship.

You can also connect with our Yocket Counsellors to know more about top MBA colleges in the world, MBA fees, and a lot more!

 

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