MBA Scholarships for Study Abroad Students

Pursuing an MBA Degree Abroad with a Scholarship 

Acquiring a degree from overseas helps scholars discover a new language and explore that culture. Given the garnering prominence of an international MBA degree, aspirants get an opportunity for lucrative salaries. 

MBA is a sought-after degree worldwide, allowing candidates to get placement opportunities abroad. But even after stellar educational records and profiles, some students cannot afford an international degree. 

For them, acquiring a scholarship for MBA abroad serve as a savior solution. Several scholarship programs are available for students from economically underprivileged backgrounds. Narrated below are the benefits of earning a scholarship program for MBA studies: 

Eradicate a Student's Financial Barrier  

A scholarship enrolls students in a renowned MBA institute abroad. They can complete their education without the hassles of repaying a hefty amount. 

A Prestigious Academic Asset 

A scholarship leaves a profound impact on student's life and their future employers. It makes the aspirant's resume outshine the peers in an interview. 

More Focused Academic Regimen 

Aspirants can be more attentive and focused on their studies when they earn a scholarship. They can invest their time in developing proficiencies and acquiring professional acumen. 

Types of MBA Abroad Scholarships 

A scholarship caters to various student categories depending on the core criteria. Here's narrating the types in detail: 

Merit-Based: The programs offer rewards depending on the eligible candidate's academic, artistic, and athletic merit. This type of scholarship covers tuition fees, internships, mentoring, and more. Eligible scholars can reshape their careers by pursuing MBA with this program. 

Need-Based: These scholarships are for talented candidates from financially underprivileged families. These scholarships offer a chance for studious aspirants to pursue education from a renowned international college or institute. 

Country-Specific: Some scholarships are designed for scholars from certain nations. This type of program fosters international relations as well as cultural exchange. 

The main objective is to strengthen the bonds between the two nations. Sometimes, it may require candidates to return to their home country to implement their acquired skills for their home country's development.  

Specialized Scholarships: These programs target a particular group: minorities, women, or entrepreneurs. The prime motive is to promote diversity. 

Top Countries that Offer Best MBA Scholarships 

Given below are the top countries that offer MBA scholarships: 

US  

The country houses some of the most prestigious B-schools with various specializations. MBA scholarships in the US are varied. An aspirant who wishes to study in the USA with a scholarship can attain further details from the following points: 

• Fulbright Scholarships: Offering scholarships for international aspirants to pursue a graduate MBA degree in the country
• Harvard Business School Fellowships: The need-based financial assistance helps students enter the Harvard MBA program
• Stanford Reliance Dhirubhai Fellowship: Offers financial support to Indian nationals to pursue an MBA at the Stanford Graduate School of Business. 

UK 

The international environment, diverse academic history, and premium standards of education make the nation a lucrative destination for MBA degrees abroad. The following UK scholarships for international students are tailored to assist international learners in exploring British culture and education: 

• Chevening Scholarships: Awarded to excellent professionals to pursue a 1-year master's degree 
• Oxford Pershing Square Scholarship: Available for scholars applying to the University of Oxford 
• Oxford's MBA program. Covers the tuition fee and offers a living stipend 
• Commonwealth Scholarships: Offering a chance to pursue postgraduate study in MBA and other programs 

Australia 

Renowned academic institutes, modern cities, and captivating landscapes make Australia a top-notch MBA destination. The education ecosystem in the country implements a practical approach to innovation and research. Here's a list of scholarships an MBA candidate can get: 

• Australia Awards Scholarships: Offers a long-term reward for learners coming from developing nations (the Department of Foreign Affairs and Trade administers it) 
• Melbourne Business School Scholarships: Available for international candidates (for both diversity-based and merit awards) 
• AGSM Global Reach Scholarship: ACGM, or Australian Graduate School of Management, offers this for international MBA students 

Canada 

Each scholarship in Canada helps international scholars to pursue MBA studies. Narrated below are some of them: 

• SEED or Canada-ASEAN Scholarships & Educational Exchanges for Development: For students belonging to ASEAN countries 
• UBC or University of British Columbia: UBC offers scholarships for international students for MBA programs.
• OGS or Ontario Graduate Scholarship: Assists students in MBA graduate studies in Ontario 

Germany 

A scholar who wants to develop technical business acumen can choose Germany for MBA international studies. Here's a run-down of the top scholarship in Germany: 

• Women's ESMT Academic Scholarship: ESMT or European School of Management and Technology (ESMT) offers the scholarship to female aspirants with solid leadership skills
• Frankfurt School of Finance And Management Scholarships: This scholarship is for international candidates who wish to pursue MBA
• DAAD Scholarships: DAAD, or German Academic Exchange Service, offers scholarships for international students 

Top MBA Abroad Scholarships for Indian Scholars  

Based on the MBA institutes, here's the list of top MBA abroad scholarships for Indian aspirants: 

• INSEAD Business School (INSEAD Deepak and Sunita Gupta Endowed Scholarship - Eligible students can avail of substantial funding of EUR 25,000 for the MBA degree in INSEAD.  

• Stanford Reliance Dhirubhai Scholarship -  It is the primary scholarship for Indian students to acquire MBA certification from Stanford Graduate School of Business. Students need exceptional leadership skills and intellectual vitality. 

• UWE Bristol MBA Scholarships   -A scholar who wants to pursue an MBA from the University of New English can work hard for this scholarship. 

• Harvard University Scholarship Program (Boustany Foundation) -This scholarship is for nationalities and is granted once every two years of the 2-year course. It offers tuition fees of around $ 102,200 (or $ 51,100 per year). 

Besides, it covers traveling expenses and accommodation costs associated with the internship. After getting admitted to Harvard University, scholars can only apply for it. 

Top MBA Abroad Scholarship Programs for Women 

Presenting below is the list of MBA abroad scholarships for women: 

• University of London's Global MBA Scholarship for Women (for candidates with a graduation degree, three years work experience, and TOEFL/IELTS scholar or 92/6.5 respectively) 
• IMD's Nestle MBA Scholarships for Women (total amount: CHF 25,000) 
• Foundation Rainbow Bridge MBA Scholarship Program (for Asian and African Women only) 
• ESMT Women's Academic Scholarship (partial/ full scholarships)
• INSEAD Alumni Fund Women's Scholarship (need-based & non-need-based categories of scholarships for meritorious women aspirants)
• ESADE Women of the World Scholarship (granted to women who can bring excellent perspectives & experience to their MBA education) 

Top Ways to Secure International Education with an MBA Scholarship 

The eligibility criteria for an international MBA scholarship vary from one country to another. However, with the following aspects, a candidate can secure their international education with an MBA scholarship. 

An Excellent GMAT Score

The best way to earn an MBA scholarship is through the GMAT score that reveals their level of competency. At least, securing a 730 or more score makes the candidate's scholarship application more lucrative. 

Aiming for the Right Scholarship 

Thorough research on the types of scholarships available in the desired country is compulsory. Not all scholarships are adequately advertised, so one must look beyond resources to find a scholarship that suits the needs. 

Making the Profile Stand Out from the Crowd 

Students from different corners of the world send several applications. So, a candidate needs to make their profile stand out by adding their work experience, GMAT score, academic marks, and projects worked on so far. 

Conclusion  

An international MBA degree allows graduates to be at the forefront. But it all depends on the approach of the aspirant. To pursue an MBA in foreign countries with scholarships, candidates must approach the application with due diligence to highlight their strengths. The aspirant can send it via an email to the mentioned ID or apply through the college or university's official website.