Explore our compilation of MBA scholarships for international students, including prerequisites and eligibility criteria, to assist you in your application process.
Undergraduate students studying business and professionals seeking career advancement or transition frequently face the decision of whether pursuing a master’s in business administration (MBA) is worthwhile. Numerous top-tier positions in business demand an MBA, offering lucrative salaries and leadership opportunities.
Nevertheless, the price tag for an MBA typically ranges from $40,000 to $150,000, necessitating financial aid for many prospective students. Seeking out MBA scholarships can alleviate some of the financial burden associated with obtaining this degree.
What Does An MBA Scholarship Entail?
An MBA scholarship refers to a monetary grant aimed at supporting students in their pursuit of an MBA degree, typically offered by educational institutions or non-profit organizations specializing in various business fields. Both educators and industry professionals acknowledge the financial challenges MBA students encounter, prompting the provision of merit- or identity-based scholarships to ease their financial burden.
In contrast to loans, scholarships and fellowships do not necessitate repayment, providing students with a compelling reason to seek out such opportunities, particularly those from economically disadvantaged backgrounds or enrolled in online programs.
These scholarships play a crucial role in enabling these students to mitigate the risk of accumulating substantial debt.
How Can One Secure A Scholarship For An MBA Program?
Scholarship organizations offering MBA funding tend to seek certain qualities in candidates, making the application process quite competitive. For instance, many require a GPA ranging from 3.0 to 3.5. Additionally, most ask for resumes, CVs, and recommendation letters. Some prioritize specific groups such as female students or those from diverse backgrounds.
Certain scholarships favor experienced business professionals over current students, often valuing a track record of advancement in either professional or academic realms, showing growth in responsibility, reputation, and critical thinking.
To strengthen your MBA scholarship application, balancing studies with work or engaging in business-related associations can be beneficial. Your application should highlight your aspirations, professional determination, problem-solving skills, and communication abilities, showcasing how you plan to apply your degree post-graduation.
MBA scholarship applications are usually not accepted on a rolling basis. Treat the deadline given on the scholarship application’s materials or website as if it were final and get your application in early.
MBA Scholarships For International Students
This compilation of scholarships for MBA programs serves as an excellent starting point for your exploration into financial aid options. It’s crucial to thoroughly review the criteria for each scholarship before applying to ensure eligibility. For example, Morgan Stanley’s scholarship necessitates an internship commitment, making it suitable only for those prepared to intern alongside pursuing their MBAs.
The Weidenfeld-Hoffmann Scholarships
The Saïd Business School Foundation partners with the Weidenfeld-Hoffmann Trust to support MBA scholars by contributing to their funding packages. Through the Weidenfeld-Hoffmann Scholarships and Leadership Programme, administered by the Trust, aspiring leaders receive full scholarships, engage in a thorough leadership development curriculum, gain access to lifelong mentoring, and connect with valuable networking opportunities.
Eligibility Requirements
To qualify for consideration:
- You must be seeking admission to commence a new postgraduate program at Oxford University.
- Your intention should be to return to your country of habitual residence upon completion of your studies. Current Oxford students are ineligible unless they already hold Weidenfeld-Hoffmann scholarships.
- You should demonstrate a clear link between your field of study and your future career aspirations, illustrating how your professional endeavors will contribute to enhancing public life in your home country, region, or globally.
- These criteria will form the basis of evaluation during the selection process, which involves assessing your graduate application, Weidenfeld-Hoffmann Scholarships Statement, and, if applicable, an interview.
Benefits
Successful candidates will receive:
- Full coverage of course fees
- A stipend of at least £17,668 (16,03,439 INR) for living expenses
- Participation in a comprehensive leadership development program
- Long-term mentorship and networking opportunities
- Application Process
To apply, candidates must:
- Complete an MBA application by the specified deadline.
- Submit the Weidenfeld-Hoffmann Scholarships Statement form.
- Indicate their interest in the ‘Weidenfeld-Hoffmann Scholarships and Leadership Programme’ in the ‘Funding’ section of the program application.
The Laidlaw Scholarships
The Laidlaw Scholarships aim to encourage outstanding women who demonstrate strong leadership qualities to enroll in the Oxford MBA program, particularly if financial constraints would have otherwise deterred them. These scholars are individuals deeply committed to promoting gender equality and have shown their commitment to instigating positive change within their respective fields.
Scholars receive exclusive access to a range of program-related activities, priority seating at School events, and the opportunity to join a unique community and network. Explore further insights into the academic realm.
Eligibility Requirements
Available to female applicants
Benefits
Scholarship awards vary from £31,000 to covering the entire MBA tuition fees.
How to Apply
To apply, complete the scholarship application form within the ‘Laidlaw’ section of the MBA application and submit it alongside a comprehensive MBA application. Only female applicants will have access to this section.
The scholarship application entails an assessment of financial need and an essay component, both of which must be completed.
Selection Process
- Scholarship applications will be reviewed at each stage of the MBA admissions process.
- Following admissions decisions, applicants will be notified of their scholarship application status and whether they have been chosen.
- Candidates can anticipate interview invitations in early May, following the final shortlisting process in late March.
Scholarships For Graduate Studies At Oxford
The Oxford-Pershing Square Graduate Scholarships, founded in 2014, provide up to six comprehensive scholarships for Master’s and MBA studies. Successful applicants have the opportunity to pursue any 1+1 MBA partnership degrees in addition to the MBA program. These recipients are exceptional individuals who have demonstrated both the capacity and commitment to tackle global societal challenges.
Eligibility Requirements
To be considered for the scholarship, applicants must meet the following criteria in order of priority:
- New applicants to the Oxford 1+1 MBA program must:
- Be admitted to a partnering program for the 1+1 MBA and to the MBA before the selection process. (Applicants on the waitlist or re-evaluated candidates will not be considered.)
- Apply to any full-time one-year Master’s course not currently part of the official list of 1+1 MBA partnering programs and to the MBA separately.
Applicants who:
- Are transitioning into their MBA year and were not considered for the scholarship in the previous year (e.g., waitlisted/re-evaluated candidates).
- Are admitted to the MBA while studying in one of the 1+1 MBA partnering programs.
Benefits
The scholarship includes:
- Full funding for the course.
- A living costs grant of at least £17,668 per year for both years of study.
How to Apply
Applicants must upload the scholarship essay in the ‘Funding’ section of the 1+1 MBA program application before the deadline. The essay must answer the following question in no more than 500 words: How do you intend to make a difference in the world, and what does this reveal about your character?
Selection Criteria
- Candidates will be evaluated based on the following:
- Academic performance demonstrated by degree outcomes, GMAT or GRE scores, prior university distinctions, and other academic achievements.
- Leadership potential evidenced by passion and experience.
- Strong ethical principles, dedication, and integrity.
- Intent to focus on addressing global social issues in their career, whether by establishing a new venture or within an existing organization.
- Ability to envision scalable and enduring solutions to these challenges.
- Clear articulation of how the Oxford 1+1 MBA will contribute to achieving their objectives.
Scholarships Provided By The London Business School Fund
The London Business School Fund Scholarships are esteemed grants presented to exceptional individuals undertaking diverse degree programs at London Business School.
These scholarships aim to acknowledge and assist students with exceptional academic records, varied backgrounds, and leadership qualities. Supported generously by donors, they provide opportunities for promising individuals to receive top-tier business education and cultivate future global business leaders.
Eligibility Requirements:
Candidates for the MBA program must possess strong academic and professional credentials and show potential to actively engage in all facets of the program.
Application Process:
Candidates will be automatically assessed for this award; no separate application is required.
Scholarship By SARI Foundation
The SARI Foundation Trust Scholarship is a charitable program aimed at offering educational prospects to disadvantaged individuals across various disciplines. Established with a commitment to social upliftment, this scholarship endeavors to support marginalized communities through financial assistance and guidance. By prioritizing education, the Trust endeavors to instigate beneficial transformations, paving the way for a more promising tomorrow for both the recipients and their societies.
Eligibility Requirements:
All MBA applicants who are accepted
Application Process:
All candidates will be automatically evaluated for this scholarship.
The SDA Bocconi Scholarship
The scholarship offered by the SDA Bocconi School of Management is highly esteemed and aimed at outstanding individuals enrolled in diverse business and management programs at SDA Bocconi in Italy. It acknowledges outstanding academic performance, leadership capabilities, and diverse experiences, offering financial assistance and valuable networking prospects. These scholarships enable gifted individuals to access top-tier management education and create substantial contributions in their careers.
Eligibility Requirements for Partial Tuition Waiver:
- To qualify for a partial fee waiver, applicants must demonstrate exceptional personal, academic, and professional backgrounds and satisfy the following conditions:
- Applicants must hail from Central Asia or the Indian subcontinent.
- Applicants must fulfill all admission criteria for enrollment in the 2023/24 MBA Program.
- Only candidates who have submitted complete application materials (including the Application Form, GMAT/GRE/SDA Test scores, TOEFL/IELTS/PTE/CPE results, reference letters, and the Admissions Procedure Fee) and have been accepted into the 2023/24 MBA Program are eligible for tuition waivers.
Conclusion
In summary, attaining a full MBA scholarships for international students is a scarce and coveted chance for driven individuals. These scholarships not only acknowledge outstanding academic performance and future leadership capabilities but also provide the opportunity to receive exceptional business education without financial constraints. Graduates of these programs are empowered to emerge as influential leaders, leaving a significant imprint on the international business arena.