Shreyashi Pathak Study Abroad Content Specialist
Study Abroad Content Specialist
Pursuing an MBA from a top university in the USA is a dream for many Indian students, but the cost of studying abroad can be a major hurdle for most. The tuition fees, living expenses, and other costs can easily add up to ₹70 lakhs to ₹1 crore, making it difficult for many to afford. Fortunately, various scholarships are offered by prestigious universities across the USA, including Harvard, Stanford, Wharton, and many others, helping Indian students reduce these costs and make their MBA aspirations more achievable.
Some of the popular scholarships for Indian students to study in the USA include the Fulbright-Nehru Master's Fellowship, Stanford Reliance Dhirubhai Fellowship, and Harvard Business School India Fellowship. Additionally, many top universities offer their own need-based and merit-based scholarships, such as those provided by Wharton School of the University of Pennsylvania, Chicago Booth, and Tuck School of Business. Students can also explore various other opportunities available directly on university websites, where they can find specific scholarships tailored to their academic achievements, financial need, and career goals.
Also Check: Popular Scholarships to Study in USA.
Why Apply for a Scholarship for an MBA in the USA?
As an Indian student aspiring to pursue an MBA in the USA, the idea of studying at top universities and gaining access to global career opportunities is likely very appealing. However, the financial costs can be overwhelming. On average, an MBA in the USA costs between $50,000 to $70,000 per year (₹40-56 lakhs). When you add the cost of living, travel, and other expenses, the total cost for a two-year MBA could easily exceed ₹70 lakhs to ₹1 crore. For many students from India, this can seem like an impossible financial burden. This is where scholarships can make a huge difference for Indian students.
Students can avail the following benefits by applying for an MBA scholarship in the USA:
Popular MBA Scholarships for Indian Students in the USA
The table below highlights some of the Popular MBA Scholarships for Indian Students in the USA:
| Scholarship Name | Offered By | Eligibility | Amount | Benefit |
|---|---|---|---|---|
| Fulbright-Nehru Master's Fellowship | United States-India Educational Foundation (USIEF) | Indian students with strong academic records, leadership potential, and a commitment to community service. | $40,000 - $60,000 (INR 32 - INR 48 lakhs) |
Full tuition, living expenses, airfare. |
| Stanford Reliance Dhirubhai Fellowship | Stanford Graduate School of Business | Indian students with financial need and a strong desire to return to India after completing their MBA. | $30,000 - $50,000 (INR 24 - INR 40 lakhs) |
Covers part of tuition and fees. |
| Harvard Business School India Fellowship | Harvard Business School | Indian students from lower-income backgrounds who demonstrate academic excellence and leadership. | $40,000 (INR 32 lakhs) |
Partial coverage of tuition and fees. |
| The Inlaks Shivdasani Foundation Scholarships | Inlaks Shivdasani Foundation | Indian students who have demonstrated exceptional academic and extracurricular achievements. | $100,000 (INR 80 lakhs) |
Full tuition, living expenses, and airfare. |
| Tuck School of Business Scholarships | Tuck School of Business | Indian students with strong academic records and leadership potential. | $50,000 - $70,000 (INR 40 - INR 56 lakhs) |
Partial to full tuition coverage. |
| University of Chicago Booth School of Business Scholarships | Chicago Booth School of Business | Indian students with demonstrated leadership potential and academic excellence. | $30,000 - $60,000 (INR 24 - INR 48 lakhs) |
Partial coverage of tuition. |
| Asian Development Bank-Japan Scholarship Program | Asian Development Bank | Indian students from developing countries pursuing an MBA with a focus on economic development. | $30,000 - $50,000 (INR 24 - INR 40 lakhs) |
Full tuition, living expenses, airfare. |
Also Check: Fully Funded Scholarships for Indian Students in USA
MBA Scholarships in USA by Top Universities
US MBA scholarships for Indian students are offered by some top business schools in USA are discussed below. These MBA scholarships in USA for Indian students can help you avoid future debt by incurring student loans. You can get the MBA full scholarship USA which will pay for your:
- Tuition Fees - Full or Partial
- Cost of Living
- Travelling Allowances
Stanford University MBA Scholarship
Stanford University offers financial aid to all students regardless of citizenship. The university offers MBA scholarships based on the needs of students and involvement in activities. Various MBA scholarships offered by Stanford University are listed in the table below.
| Fellowship | Eligibility | Amount in USD |
|---|---|---|
| Stanford GSB Need-based Fellowship | Demonstrated financial need. | $44,000 - $88,000 (INR 3,73,488 - INR 7,47,809) |
| Stanford GSB Bold Fellows Fund | Students with demonstrated financial hardships and commitment to advancing diversity, equity, and inclusion. | $30,000 (INR 25,40,100) |
| Stanford Knight-Hennessy Scholarship Program | Students admitted to MBA degree at Stanford University. | Varies |
| Impact Design Immersion Fellowship | MBA students who wish to understand a problem better and those affected by it. | $10,000 - $2,00,000 (INR 8,46,700 - INR 1,69,34,000) |
University of Pennsylvania MBA Scholarship
Wharton offers a wide range of scholarships to exceptional students. Based on the admission applications, the university considers all students for fellowships. The university offers MBA fellowships to its students based on
- Academic achievement
- Personal qualities
- Community involvement
- Professional development.
Details of some of the fully funded MBA scholarships for Indian students in USA offered by the University of Pennsylvania are mentioned below.
| Fellowship | Eligibility | Amount in USD |
|---|---|---|
| Emerging Economy Fellowship | Candidates from emerging economies throughout the world | Tuition, accommodation, air travel, health insurance |
| Joseph Warton Fellowship | Candidates with outstanding academic, personal, and professional advancement records | Maximum of $20,000 for tuition fees |
| Judith L. and William G. Bollinger Fellowship | Top international MBA students in the Wharton MBA | Tuition Fees |
| Prism fellowship | Student member of the LGBTIQA community and demonstrates leadership in support of the community | Covers full tuition fees for 2 years |
Harvard Business School MBA Scholarship
Harvard Business School offers various full scholarship MBA USA to improve the affordability of their courses. These fellowships include
- Need-based fellowships
- Summer fellowships
- Career support and exploration.
The institute provides need-based scholarships to approximately 50% of its MBA students. Average annual need-based awards offered by the institute range from USD 2,500 to 76,000. Some MBA fellowships offered by Harvard Business School are mentioned in the table below.
| Fellowship | Eligibility | Amount in USD |
|---|---|---|
| RISE Fellowship | Candidates with a demonstrated commitment to serving communities of color in the US | $10,000 (INR 8,46,700) |
| John C. Phelan Forward Fellowship | Candidates from weaker economic backgrounds carrying significant financial burdens | $30,000 (INR 25,40,100) |
| George Leadership Fellowship | Students with leadership skills and demonstrated commitment to enhancing public services | $10,000 (INR 8,46,700) |
| Horace W. Goldsmith Fellowship | Candidates with demonstrated non-profit leadership | $10,000 (INR 8,46,700) |
| Junior Achievement Fellowship | Candidates with demonstrated junior achievement experience | $20,000 (INR 16,93,400) |
Check More: Harvard University Scholarships
MIT Sloan MBA Scholarship
The institute offers merit-based fellowships based on academic excellence, professional achievements, and community involvement. MIT Sloan School of Management provides various fellowships to its students enrolled in the first and second years of the MBA program. Some of the scholarship for MBA in USA for international students offered by MIT Sloan are discussed in the table below.
| Fellowship | Eligibility | Amount in USD |
|---|---|---|
| Legatum Fellowship | Students with a demonstrated commitment to start a business in a low-income country after graduation | Varies |
| Lemann Educational Fellowship | Outstanding MIT graduates committed to pursuing further studies in education, educational technology, and innovation, educational policy and reform, and related areas | $10,000 - $20,000 (INR 8,46,700 - INR 16,93,400) |
| McKinsey Award | Candidates with outstanding records of academic achievement, personal impact, and leadership in professional, community, or campus activities | $10,000 (INR 8,46,700) |
| MIT Sloan Social Impact Fellowship | MBA Students interested in taking societal challenges during their summer internship | $20,000 (INR 16,93,400) |
Columbia Business School MBA Scholarship
Columbia Business School provides its students with partial or full tuition fellowships. To receive any merit-based fellowship, students do not need to fill out any separate application form. Instead, the institute identifies the applicants with outstanding potential on their own. Candidates can go through the table below to check some of the MBA fellowships offered by Columbia Business School.
| Fellowship | Eligibility | Amount in USD |
|---|---|---|
| Merit-based Fellowship | August entry students enrolled in full-time MBA | $20,000 to full tuition fee |
| Perelman Scholarship Fund | Candidates from underrepresented racial, ethnic, and socio-economic groups | Varies |
| CBS Board Fellowship | Students exhibiting exceptional academic & professional promise | Varies |
| Columbia Business School Board China and India Fellowships | Students from India and China exhibiting exceptional academic & professional promise | Varies |
Northwestern Kellogg MBA Scholarship
MBA fellowships offered to newly admitted students by Northwestern Kellogg include merit-based and need-based fellowships. Kellogg School of Management offers various MBA scholarships at the time of admission. The institute offers MBA fellowships to its second-year students also. Some Northwestern Kellogg fully funded MBA scholarships in USA are listed in the table below.
| Fellowship | Eligibility | Amount |
|---|---|---|
| Charles J. Schaniel Scholarship | Outstanding student with an interest in accounting | Varies |
| David Himmelblau Scholarship | Candidate with exceptional overall achievement and academic abilities | Varies |
| Diversity Scholarship | Extraordinary candidates sharing a commitment to diversity | Maximum of $2000 |
| Donald P. Jacobs International Scholarships | International students enrolled in MBA or MMM program. | Varies |
| Forté Foundation Scholarship | Female candidates with demonstrated personal or community involvement in women and girls | $20,000 |
| John R. Flanagan Excellence Grant | Students with outstanding merit and interest in finance | Varies |
Application process for MBA Scholarships in USA
Most of the applications for MBA Scholarships in USA are considered while applying for admission. You need to fill out a separate application form to be considered for a fellowship program. However, for merit-based scholarships, there is no need to fill out any form separately.
- For merit-based scholarships, students do not need to fill out any separate application for scholarships.
- For need-based scholarships, students need to fill out a separate application form to receive the scholarship.
- Students applying for need-based scholarships need to prove their needs by submitting documents related to bank statements, tax returns, assets, economic or social background, and country of residence.
Also Check: Scholarships for Indian Students in USA
Universities offering MBA scholarships in USA offer merit-based scholarships to students who have exceptional records in academic excellence, professional achievements, and community involvement. However, need-based scholarships are offered based on the financial needs of students. Universities offer need-based scholarships upon verifying the financial needs of students.
FAQs
Ques. Do I need to have work experience to qualify for an MBA scholarship?
Ans. Many scholarships, especially from top universities like Harvard or Wharton, Prefer candidates with 2-5 years of work experience, as it highlights leadership and practical knowledge. However, there are scholarships that focus on academic excellence, leadership, or community involvement, which may not require work experience.
Ques. Can I apply for a scholarship after being admitted to an MBA program?
Ans. Yes, some universities like Stanford and Wharton, offer scholarships even after you've been admitted, based on your academic performance or financial need. Some of the popular scholarships include the University of Pennsylvania, Tuck School of Business Scholarships at Dartmouth College, and Chicago Booth School of Business Scholarships. Stanford GSB
Ques. Are MBA scholarships in the USA competitive?
Ans. Yes, MBA scholarships in the USA are highly competitive, especially at top universities like Harvard, Stanford, and Wharton. These scholarships are awarded to students who demonstrate exceptional academic records, leadership skills, and strong personal achievements, making the selection process very rigorous.
Ques. How can I find more MBA scholarships for Indian students?
Ans. You can find more scholarships by checking university websites, scholarship portals, and organizations like the Indian Students Association or EducationUSA.
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