| Updated On - Aug 22, 2025
Studying abroad is a dream for many Indian students, and especially for programs like MBA, as it brings new opportunities and opens many doors for a great career ahead. Studying overseas can be 2-3 times more expensive than in India. Pursuing an MBA comes with significant financial challenges, with average costs reaching around INR 58,00,000. For many international students, this expense can be a financial barrier in accessing world-class higher education overseas. The cost of an MBA, averaging around INR 58,00,000, can be a significant barrier. Fortunately, Many universities, governments, and private organizations offer scholarships for MBA abroad based on merit, financial need, leadership potential, and other criteria.
Getting fully funded scholarships to study abroad can ease the burden of Indian Students. Students can make better choices in terms of choosing the right Universities and Colleges for their dream MBA. With these scholarships, students will not be forced to choose Universities with lower fees. The scholarships will cover all the expenses, like Tuition Fees, Living expenses, Health Insurance, etc.
- Cost of Doing an MBA Abroad
- Cost of Studying MBA for Indian Students in Different Countries
- Top Fully Funded MBA Scholarships for Indian Students Abroad
- Types of Fully Funded MBA Scholarships For Indian Students
- Eligibility Criteria for Fully Funded MBA Scholarships
- Steps for Application Process for Fully Funded Scholarships
- FAQs
Cost of Doing an MBA Abroad
The cost of pursuing an MBA abroad for Indian students can be very expensive. While tuition is the most significant expense, other costs such as living expenses, travel, and additional fees also add up. The following table contains the expenses that you have to incur while studying MBA abroad.
| Expense Category | Cost Range(USD) | Cost Range (INR) |
|---|---|---|
| Tuition Fees | $20,000 – $100,000 | 17 lakh – 85 lakh |
| Living Expenses | $10,000 – $30,000 / year | 8.5 lakh – 25 lakh/year |
| Travel Costs | $1000 | 87,354 |
| Application Fees | $50 – $200 per application | 4,200 – 17,000 per application |
| Visa Fees | $500 – $2,000 | 42,000 – 1.7 lakh |
| Other Expenses | $2,000 – $5,000 / year | 1.7 lakh – 4.2 lakh/year |
| Total (2-year Program) | $60,000 – $270,000 | 51 lakh – 2.3 crore |
Overall, the total cost of a two-year MBA program abroad can range between $60,000 and $270,000 or ₹51 lakh - ₹2.3 Cr, depending on the location, institution, and lifestyle choices.
Cost of Studying MBA for Indian Students in Different Countries
Below is the list of different countries and the cost of studying an MBA:
| Country | Average Tuition Fees (INR/year) |
|---|---|
| USA | ₹35,00,000 – ₹50,00,000 |
| UK | ₹30,00,000 – ₹80,00,000 |
| Canada | ₹20,00,000 – ₹35,00,000 |
| Australia | ₹30,00,000 – ₹45,00,000 |
| New Zealand | ₹15,00,000 – ₹25,00,000 |
| Germany | ₹20,00,000 – ₹40,00,000 |
Top Fully Funded MBA Scholarships for Indian Students Abroad
Different countries and Universities provide different scholarships for Indian Students applying to their MBA programs. Every University has its criteria, Terms, and Conditions. The following table shows the Top Universities for MBA and their fully funded scholarships.
| QS Global MBA Rank (2026) | Business School / University | Country | Scholarships Offered | Fully Funded? |
|---|---|---|---|---|
| #5 | London Business School | United Kingdom | 1. London Business School Fund Scholarships2. SARI Foundation Trust Scholarship | Both Fully Funded |
| #17 | Stern School of Business, NYU | USA | Stern MBA Scholarships | Multiple Fully Funded |
| #19 | Saïd Business School, University of Oxford | United Kingdom | 1. Weidenfeld-Hoffmann Scholarships2. Oxford-Pershing Square Graduate Scholarships | Fully Funded |
| #20 | SDA Bocconi School of Management | Italy | SDA Bocconi MBA Scholarships | 3 Scholarships Fully Funded |
| #25 | NUS Business School, National University of Singapore | Singapore | NUS MBA Dean’s Award | Fully Funded |
| #27 | Melbourne Business School, University of Melbourne | Australia | Dean’s International Management Scholarship | Fully Funded |
Types of Fully Funded MBA Scholarships For Indian Students
Before applying to Universities for an MBA abroad, Students should know about the different types of Scholarships offered, based on which they can make their decision and can prepare for the procedure to avail that scholarship.
- Government-Sponsored Scholarships
These are often the most prestigious awards. They aim to have future leaders who will create good relationships with the Host Countries and contribute to their growth in the future. These scholarships are frequently fully funded, covering tuition, living expenses, and travel. Examples for Indian students include the Fulbright-Nehru Master's Fellowships (USA), the Chevening Scholarships (UK), the Commonwealth Scholarships (UK), and the Australia Awards Scholarships.
- University Endowed Scholarships
These scholarships are funded directly by the Universities. Their primary purpose is to attract the world's most talented and diverse candidates, regardless of their financial circumstances. Leading examples include the Knight-Hennessy Scholars Program at Stanford University, the BK Birla Scholarship Programme at London Business School, and numerous merit-based and need-based fellowships at institutions like Harvard Business School, the Wharton School, and INSEAD.
- Private and Foundation Scholarships
This category includes awards funded by corporations, foundations, and private individuals. These types of scholarships are typically mission-driven, such as promoting women in leadership or providing support to entrepreneurship. Examples include the Forté MBA Fellowships for women.
Eligibility Criteria for Fully Funded MBA Scholarships
- Apply Early: Many universities have multiple application rounds, so make sure you’re applying at the earliest to increase your chances of securing the Scholarship
- Academic Performance: Academic record is crucial, and you need a consistent performance throughout with a Bachelor’s GPA above 3.5/4.0
- High GMAT Score: To avail the 100% MBA scholarship, you need to have a GMAT score of 720+
- High score in English Proficiency Scores like IELTS or TOEFL(Varies for different scholarships)
- Work Experience: Most B-schools require 3+ work experience.
- Excellent Essays: Your SOP and essays should reflect unique insights, leadership qualities, and why you are a good fit for the Scholarship
- Align your Post-MBA goals: Connect your career goals with the program’s strengths to demonstrate your fit and ambition.
Steps for Application Process for Fully Funded Scholarships
The following are the steps to secure a fully funded MBA scholarship abroad. One must follow all the steps with utmost care, as there is a huge number of applicants applying for the scholarship; therefore, it becomes difficult to secure one if you miss any requirements.
- Find the Right MBA Scholarship: Research university, government, and private scholarships based on merit, need, or specific criteria.
- Check Eligibility Criteria: Ensure you meet academic requirements, work experience, and test scores like GMAT, GRE, IELTS, or TOEFL.
- Prepare a Strong Application: Craft an excellent statement of purpose, get strong letters of recommendation, and highlight your achievements, leadership, work experience, and career goals.
- Score Well in Required Tests: Many scholarships require high scores in GMAT, GRE, or language tests.
- Apply Before Deadlines: Stay ahead by tracking deadlines and submitting all required documents on time.
- Prepare for the Interview (if required): Some MBA scholarships involve interviews. Showcase well why you deserve the funding.
The competition for the Fully-Funded scholarships abroad is very high. You need to make sure that you stand out in terms of test scores, LORs, SOPs, and interviews. By understanding the different types of scholarships available, meeting the eligibility criteria, and crafting a strong and compelling application, you can increase the chances of securing the 100% Scholarship and have access to world-class MBA education without the financial barrier.
FAQs
Ques: Which countries offer Fully Funded Scholarships?
Ans: Countries like the USA, UK, Canada, Australia, Germany, and France offer fully funded scholarships to Indian students. These scholarships, provided by governments, universities, and private organizations, cover tuition fees, accommodation, travel expenses, and sometimes even stipends for personal expenses.
Ques: Can I apply for multiple fully funded scholarships at the same time?
Ans: Yes. It is up to you to apply to as many scholarships as you qualify but you can only accept one.
Ques: Is work experience necessary for an MBA scholarship abroad?
Ans: Yes, yet even though it is not that necessary. But to secure the scholarship, it is recommended that you have work experience for an MBA scholarship abroad.
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