Dreaming of pursuing an MBA abroad but are concerned about finances? Scholarships exist to ease your financial burden. An MBA abroad can cost 30,00,000-75,00,000 INR per year, making financial planning crucial. Opting for an MBA abroad with a full scholarship is a wise choice. Discover the ins and outs of fully funded MBA scholarships for Indian students in our comprehensive blog. Explore details such as application criteria, deadlines, coverage, and more for a well-informed decision.
| Fully Funded MBA Scholarships For Indian Students Abroad Overview | |
| Top Externally Funded International Scholarships | -DAAD Scholarship -Chevening Scholarship -GREAT Scholarship -Commonwealth Scholarship -Global Study Awards |
| Fully Funded MBA Scholarships from Indian Organisations | -National Overseas Scholarship Scheme -Fulbright-Nehru Master’s Fellowships -JN Tata Endowment Scholarship -Stanford Reliance Dhirubhai Scholarship -Inlaks Shivdasani Scholarship |
| MBA Scholarships for Indian Women Abroad | -London Business School -HEC Paris -Nestle IMD. |
Types Of Fully Funded MBA Scholarships For Indian Students Abroad
MBA Scholarships to study abroad are categorised into different types depending on the programme, academic excellence, or financial background. Your application process, documents and further finances depend on these types. We have mentioned below the different categories of MBA scholarships that you obtain, take a look at them:
- Merit-based Scholarships: Awarded based on exceptional performance in academics, athletics, artistic talents, extracurricular activities, or societal contributions. Renewable scholarships may have specific criteria for continued eligibility for the programme.
- Need-based Scholarships: Offered by some universities based on demonstrated financial need. Separate applications are typically required for need-based scholarships.
- Diversity Scholarships: Eligible for international students from specific countries. These scholarships, often country-specific, may be provided by the government or MBA colleges.
- Programme-based Scholarships: Tailored for MBA aspirants, awarded by Business schools based on academic and professional achievements.
- Subject-specific Scholarships: Aligned with specific majors, such as MBA in entrepreneurship. Eligibility is determined by previous academic qualifications and the chosen major.
Top Externally Funded Prestigious International Scholarships For MBA
Having explored the diverse types of scholarships available for studying MBA abroad, you must have now realised the array of options for your study abroad funding. There are innumerable partial or 100% MBA scholarships for Indian students to study MBA abroad. However, we aim to show you the top ones that are credible and apply to all the business schools. Given below is a list of the most renowned fully funded scholarships in MBA for international students. These scholarships are generally merit or need-based and have a large pool of applicants. Refer to the the table below:
| Scholarship Name | Eligibility for MBA Scholarships Is | Awards |
| DAAD Scholarship | – Students must have a degree or diploma and must be pursuing a masters degree. – An IELTS score of 6.5 is needed. – Minimum aggregate of 8.5 CGPA or 85% or equivalent is necessary. | -Stipend of EUR 861 to 3000 EUR -Health insurance benefit -Family members benefit |
| Chevening Scholarship | -You should be a citizen of Chevening eligible city or country. -Completing the UG programme is mandatory. -Unconditional admission offer from UK University. -2 years of work experience. | The amount of funding varies and it is a one-time payment. |
| GREAT Scholarship | -Citizens and present residents of India, China, Indonesia, Turkey, Malaysia or Thailand are allowed. -UG Degree from Indian College. -Fulfil English language requirement by undertaking IELTS exams. | One-time payment of $10,000 |
| Commonwealth Scholarship | -To qualify for the scholarship, applicants must be citizens or refugees of an eligible Commonwealth country or a British Protected Person. -Permanent residency in an eligible Commonwealth country is mandatory. -Candidates should possess a first-degree classification of at least upper second-class (2:1) honours or a lower second-class degree along with a relevant postgraduate qualification, typically a Master’s degree. | Amount varies and is given on a need-based basis for different applicants. |
| Global Study Awards | -You must take an IELTS test before applying for the scholarship. -You need to have an International Student Identity Card. -You must be 18 years or older. | £10,000 |
| Felix Scholarship | -Applicants must be Indian nationals and should not be residing or studying outside India. -Additionally, eligibility requires a first-class undergraduate degree from a recognised Indian university. | $20,600 |
| BrokerFish International Student Scholarship | -The applicant must be enrolled in a degree, diploma, or equivalent programme at an accredited university. -However, it is important to note that individuals employed by academic institutions and their immediate family members are not eligible for this scholarship. | $1,000 |
Fully Funded MBA Scholarships From Indian Organisations
Taking MBA abroad can be financially daunting, but fully funded scholarships offered by Indian organisations pave the way for Indian students to pursue their dreams without the burden of financial constraints. Plus, while the international scholarships attract a large pool of diverse applicants, scholarships offered by the Indian government give preference to only Indian applicants, hence the competition can be comparatively low. In this section, we get into the fully funded MBA scholarships for Indian students to study abroad.
| Scholarship Name | Eligibility | Awards |
| National Overseas Scholarship Scheme | -Applicants must be under 35 years old, achieve a minimum qualifying exam grade of 60% for Master’s and PhD courses, and have a family income below INR 8,00,000 in the preceding fiscal year. -The scholarship is applicable for a maximum of two individuals per household, and female candidates are eligible for 30% of available seats. | -Fully funded MBA Scholarship. -Cost of books, living expenses, and visa fees. -The cost of medical insurance. -Voting tax. -Airfare and additional travel expenses -Maintenance feeContingent compensation. |
| Fulbright-Nehru Master’s Fellowships | -Applicants need a U.S. equivalent bachelor’s degree from an accredited Indian university with a minimum 55% GPA. -They must have three years of full-time, compensated work experience in a related field, exhibit leadership skills through volunteer work, and cannot be enrolled or hold a degree from a U.S. university. -Adherence to the employer’s endorsement guidelines is crucial if hired. | -Funding for living expenses -Tuition fees -J1 Visa assistance -Flight tickets from the economic class for 2 of the candidate’s families to the USA.Accident and illness coverage. |
| JN Tata Endowment Scholarship | -Applicants must be Indian citizens under the age of 45, holding a graduate degree from an accredited Indian university with a minimum GPA of 60%. -Those previously ineligible for the loan scholarship are encouraged to apply. -If at least 12 months are remaining in their studies, candidates who missed the J N Tata Endowment application deadline at the outset of their overseas studies can still apply at the beginning of the first or second year. -Acceptance into a Graduate Programme is a prerequisite for eligibility. | The scholarship encompasses a loan ranging from INR 1,000,000 to INR 10,000,000, along with a partial travel award of up to 50,000 Indian rupees. Additionally, recipients may receive a gift reward valued between 2,000 and 750,00. |
| Stanford Reliance Dhirubhai Scholarship | -Applicants must possess a bachelor’s degree in any field equivalent to a U.S. bachelor’s degree. -Additionally, submission of GRE/GMAT and IELTS/PTE/TOEFL scores is mandatory, with minimum score requirements as follows: TOEFL-iBT: 100IELTS: 7.0PTE: 68 -Letters of recommendation and a statement of purpose are also required for the application process. | 150,000 USD |
| Inlaks Shivdasani Scholarship | -Candidates must not exceed 30 years of age, must hold an Indian passport, and should not possess a postgraduate degree from abroad. -Those currently pursuing a postgraduate degree overseas are ineligible for this fellowship. Proof of admission is a prerequisite for a fellowship application. | $100,000 onetime payment. |
MBA Scholarships For Indian Women Abroad
Scholarships tailored for women pursuing an MBA are available in addition to those mentioned earlier for Indian students. Let’s explore a few:
- London Business School Women Scholarships: Exclusively for female students at LBS, covering 30% of the first-year tuition fees for outstanding candidates.
- Fondation Rainbow Bridge MBA Scholarships for African and Asian Women: Offered by HEC Paris, this scholarship for MBA studies abroad is dedicated to Indian women. Recipients receive EUR 20,000 twice a year.
- Nestle MBA Scholarships for Women at IMD: Aimed at women from developing countries, the Nestle MBA Scholarship provides CHF 25,000 annually.
How To Apply For Fully Funded MBA Scholarships For Indian Students Abroad?
Applying for fully funded MBA scholarships for Indian students abroad involves a systematic process. Application can be done through the scholarship or university website, and the application process for each scholarship might vary. However, you can follow these general steps:
- Explore various scholarships available for Indian students pursuing an MBA abroad. Consider factors such as eligibility criteria, application requirements, and deadlines.
- Ensure that you meet the eligibility criteria specified by each scholarship programme. Criteria may include academic achievements, work experience, nationality, and other specific requirements.
- Gather essential documents such as academic transcripts, recommendation letters, statement of purpose, standardised test scores (GRE/GMAT, IELTS/TOEFL), and any other documents specified by the scholarship provider.
- Complete the scholarship application form accurately and submit it within the specified deadline. Follow the application guidelines provided by the scholarship provider.
- Emphasise your academic achievements, professional accomplishments, leadership experiences, and career goals in your application. Tailor your application to showcase why you are a deserving candidate for the scholarship.
- Some scholarship programmes may require an interview as part of the selection process. Prepare for potential interviews by anticipating common questions and articulating your motivations and goals effectively.
- After submitting your application, monitor the application status and follow up if required. Stay informed about any additional steps in the selection process.
Documents Required For Fully Funded MBA Scholarships
Note that specific requirements may vary between scholarship programmes, so it’s crucial to check each scholarship’s guidelines for precise details. Below is a table outlining the commonly required documents for fully funded MBA scholarships.
| Document | Description |
| 1. Application Form | Complete and submit the scholarship application form as provided by the programme. |
| 2. Academic Transcripts | Official records of your academic performance, often including GPA or percentage. |
| 3. Letters of Recommendation | Typically, 2-3 letters from professors, employers, or professionals who can attest to your qualifications and character. |
| 4. Statement of Purpose | A well-crafted essay outlining your academic and career goals, often with a personal touch. |
| 5. Resume/CV | Detailed summary of your academic and professional achievements and experiences. |
| 6. Standardised Test Scores | Scores from exams such as GRE or GMAT, and English language proficiency tests like IELTS or TOEFL. |
| 7. Proof of Admission | Confirmation of acceptance into the MBA program from the respective university. |
| 8. Passport Copy | Copy of your passport to verify your identity and citizenship status. |
| 9. Financial Statements | Some scholarships may require proof of your financial need or family income. |
| 10. Research Proposal (if applicable) | For research-focused scholarships, a detailed proposal may be necessary. |
Benefits of a scholarship in an MBA are beyond financial support. Firstly, it reduces the significant financial burden associated with pursuing an MBA abroad, providing an opportunity for individuals who may otherwise face economic constraints. Additionally, scholarships recognise and reward academic excellence, professional achievements, and leadership potential, enhancing the recipient’s credibility and marketability in the competitive job market.
Apart from scholarships, an education loan for MBA can also be a secure choice for students. This is because education loans offer guaranteed funding so that you can focus on your studies and achieve your goals. If you want to go for the education loan option, you can always count on UniCreds! We have partnered with top financial institutions to give you study abroad loans at lesser processing fees and faster loan approvals!
FAQs
Q1. Can I get a 100% MBA scholarship?
Ans: Yes, you can get a 100% MBA scholarship by applying for externally funded scholarships like Chevening, National Overseas Scholarship, etc.
Q2. What are fully funded MBA scholarships for Indian students abroad?
Ans: The National Overseas Scholarships team, Fulbright Scholarship, Chevening Scholarship, are a few of the scholarships that offer full funding for an MBA abroad.
Q3. How can Indian students find and apply for fully funded MBA scholarships?
Ans: Indian students can find and apply for fully funded MBA scholarships by researching online scholarship databases, exploring university financial aid portals, and submitting applications directly to relevant scholarship providers.
Q4. Which countries offer the most opportunities for fully funded MBA scholarships for Indian students?
Ans: UK, USA, Australia, Germany are some of the countries that offer the most opportunities for fully funded MBA scholarships for Indian students.
Q5. Are there specific MBA programmes that are commonly covered by fully funded scholarships for Indian students abroad?
Ans: Several countries, including the United States, United Kingdom, Canada, Australia, and Germany, offer significant opportunities for fully funded MBA scholarships for Indian students.
Q6. What is the typical duration of fully funded MBA scholarships for Indian students abroad?
Ans: The duration of fully funded MBA scholarships for Indian students abroad typically ranges from one to two years, aligning with the standard duration of MBA programmes.
Q7. Can Indian students apply for multiple fully funded MBA scholarships simultaneously?
Ans: Yes, Indian students can often apply for multiple fully funded MBA scholarships simultaneously, increasing their chances of securing financial support for their studies abroad. However, it is crucial to carefully review each scholarship’s terms and conditions to ensure compliance with any restrictions or preferences regarding simultaneous applications.
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