Did you know that in the USA, as per the GMAC report 2024, more than 50% of students sought financial aid out of 200,000+ international applicants for the MBA program? (GMAC, 2024)
For Indian students, MBA at one of the top universities in USA remains one of the most sought-after career moves, but the high costs, often between $75,000 and $145,000 (₹62 lakh-₹1.2 crore) for a two-year program, can feel out of reach. With over 1.7 million fellowships and private scholarships awarded annually in the USA, the opportunities for financial support in FY 2025 are vast and promising for Indian students. Let’s read more about the full scholarship MBA USA.
Popular MBA Scholarships in USA for Indian Students
Almost 331,000 international students went to the USA for their MBA degrees in 2024-2025 (Wikipedia). Needless to say, not all of these students funded their education independently. Many universities rescued Indian students and offered financial aid.
Here are some standout mba scholarship us to study in USA.
| Scholarship | Provider | Benefits (USD) | Benefits (INR) |
| Inlaks Shivdasani Foundation | Inlaks Shivdasani Foundation | Up to $100,000 covering tuition fees, living costs, travel expenses, and health insurance | ₹63,58,000 |
| Dean’s Scholarship | Stern School of Business, NYU | Full tuition fees ($85,000) | ₹54,04,300 |
| McKinsey Award | MIT Sloan | Up to $100,000 | ₹63,58,000 |
| Ritchie-Jennings Memorial Scholarship | Association of Certified Fraud Examiners | $2,000 – $10,000 | ₹1,27,160 – ₹6,35,800 |
| Tuck School of Business Scholarships | Dartmouth College | Up to $35,000 | ₹22,25,300 |
1. Inlaks Shivdasani Foundation Scholarships
Established in 1976, the Inlaks Shivdasani Foundation has empowered over 480 Indian students to pursue postgraduate studies at prestigious institutions across the USA, UK, and Europe. The Foundation seeks individuals with exceptional talent, leadership potential, and a commitment to contributing positively to society.
Amount:
- Fully funded, up to USD 100,000 (~INR 83.5 lakh) covering tuition, living expenses, travel, and health insurance.
Eligibility:
- Indian citizen, born on or after January 1, 1995
- Undergraduate degree from a recognized Indian institution
- Secured admission to a top-tier MBA program in the USA
- Minimum academic requirement: 65% / CGPA 6.5 / GPA 2.6
- Not currently enrolled abroad; no prior foreign postgraduate degrees
- English proficiency: IELTS 6.5+ or TOEFL iBT 90+
Deadline:
- Typically closes in March each year; for the 2025 cycle: March 31, 2025, 12:00 PM IST
- (2026 intake not yet announced; likely to follow a similar timeline)
Number of Awards Granted:
- Varies each year; historically ~5–10 scholarships awarded
Course Duration:
- 2 years (aligned with standard MBA program duration)
2. Dean’s Scholarship
The Dean’s Scholarship is a prestigious merit-based award offered by NYU Stern School of Business. It covers full tuition and mandatory fees for the two-year Full-Time MBA program, providing significant financial relief to outstanding students.
Amount:
- Fully funded, covering full tuition and mandatory fees for the two-year Full-Time MBA program (~USD 85,000 / ~INR 70 lakh).
Eligibility:
- Indian citizen
- Undergraduate degree from a recognized institution
- Secured admission to NYU Stern Full-Time MBA
- Exceptional academic achievement
- Demonstrated leadership through professional or extracurricular activities
Deadline:
- October 15, 2025 (for 2025 intake; early submission recommended)
- 2026 intake deadline not yet announced; likely similar timeline
Number of Awards Granted:
- Varies; awarded to top-performing applicants based on merit
Course Duration Cap:
- 2 years (aligned with the Full-Time MBA program duration)
3. McKinsey Award at MIT Sloan
The McKinsey Award is a prestigious scholarship offered by McKinsey & Company to first-year MBA students at the MIT Sloan School of Management. In 2024, 15% of MIT Sloan’s MBA cohort received this award. Established by MIT Sloan alumni, this award recognizes students with exceptional academic achievements, leadership potential, and a commitment to making a positive impact in their communities.
Amount:
- Partially funded, USD 10,000 (~INR 8.35 lakh) financial assistance for the first year of the MBA program.
Eligibility:
- Indian citizen
- Undergraduate degree from a recognized institution
- Secured admission to MIT Sloan Full-Time MBA
- Exceptional academic performance
- Demonstrated leadership through professional, community, or campus activities
Deadline:
- October 15, 2025 (for 2025 intake; early submission recommended)
- 2026 intake deadline not yet announced; expected to follow a similar timeline
Number of Awards Granted:
- 15% of MIT Sloan’s MBA cohort in 2024
Course Duration Cap:
- One-time award for the first year of the MBA program
4. Ritchie-Jennings Memorial Scholarship
The Ritchie-Jennings Memorial Scholarship, offered by the Association of Certified Fraud Examiners (ACFE) Foundation, is designed to support students pursuing degrees in accounting, finance, or criminal justice. Established in memory of ACFE members Tracy Ritchie and Larry Jennings, who were tragically killed in 1997, this scholarship aims to foster the next generation of anti-fraud professionals.
Amount:
- Partially funded, USD 2,000 – 10,000 (~INR 1.67 lakh – 8.35 lakh), paid directly to the recipient’s institution
Eligibility:
- Indian citizen
- Full-time enrollment at an accredited institution (undergraduate or graduate, including MBA)
- Major/minor in accounting, business administration, finance, criminal justice, or related fraud discipline
- Undergraduates: second half of sophomore year or higher
- Graduates: at least 6 semester hours per term
- Demonstrated interest in fraud examination or anti-fraud career
Deadline:
- February 2, 2026
Number of Awards Granted:
- Multiple awards, amounts vary per recipient
Course Duration Cap:
- One-time award for the 2026–2027 academic year
5. Tuck School of Business Scholarships
Dartmouth’s Tuck School of Business offers a variety of scholarships, ranging from partial to fully funded MBA programs for international students in the USA. These scholarships are awarded based on academic excellence, leadership potential, and professional achievements.
Amount:
- Partial to fully funded, varies based on academic excellence and leadership potential (~USD 35,000 – 100,000 / ~INR 29.2 lakh – 83.5 lakh)
Eligibility:
- Admitted to Tuck School of Business Full-Time MBA program
- Strong academic and professional record
Deadline:
- Rolling (apply alongside MBA application)
Number of Awards Granted:
- Varies each year; awarded based on merit and leadership
Course Duration Cap:
- 2 years (aligned with the MBA program duration)
List of MBA Scholarships in USA from Top Universities
The top-rated universities in the USA offer grants to Indian students enrolling for an MBA. The grants range from $39,501 (INR 25.1L) to $71,820 (INR 45.7L), allowing you to focus more on your studies and less on your finances.
The table below enlists eight universities you should be eyeing in the US to pursue your MBA. Have a look.
| Scholarship | University | Benefits (USD / INR) | Deadline |
| HBS Fellowship Program | Harvard Business School | Average award of $39,501 (~INR 34L) | Aligns with HBS MBA application deadlines |
| Knight-Hennessy Scholars | Stanford Graduate School of Business | Full funding for graduate studies, including tuition, stipend, and academic expenses (~INR 62L–70L depending on cost of living) | October 8, 2025 |
| Wharton Fellowship Program | Wharton School, University of Pennsylvania | Varies; can cover the entire tuition fee (~INR 66L–70L) | Same as MBA application |
| Chicago Booth Scholarships | Booth School of Business, University of Chicago | $30,000 – $60,000 (~INR 26L – 51L) | April 29, 2025 |
| Dr. Tahir Fellowship & C & J White Fellowship | UC Berkeley Haas School of Business | Varies; partial to full tuition coverage (~INR 34L – 66L) | Aligns with MBA application |
| Sloan Fellows Program | MIT Sloan School of Management | Full tuition + living stipend yearly (~INR 70L–85L) | Multiple rounds (rolling) |
| Kellogg Global Scholarships | Kellogg School of Management, Northwestern University | Varies; partial to full tuition coverage (~INR 8.6L – 68L) | Rolling |
| Stanford Reliance Dhirubhai Fellowship | Stanford Graduate School of Business | $30,000 – $50,000 (~INR 26L – 43L), covers full tuition, living, and travel for Indian students | May 30, 2025 |
1. HBS Fellowship Program
Harvard Business School’s Fellowship Program is a need-based award that helps up to 50% of admitted students. In 2024, HBS distributed over INR 387 Cr in aid, making it a top choice for a fully funded MBA in the USA.
Amount:
- Fully funded, need-based scholarships covering tuition and fees (~USD 39,500/year / ~INR 33.0 lakh per year)
Eligibility:
- Admitted to HBS Full-Time MBA program
- Demonstrated financial need based on income, assets, and socioeconomic background
Deadline:
- Aligns with HBS MBA application deadlines (2025 intake: Round 1 – September 2025, check official site for 2026 dates)
Number of Awards Granted:
- Up to 50% of admitted students receive some form of financial aid
Course Duration Cap:
- 2 years (aligned with the MBA program duration)
2. Knight-Hennessy Scholars
Stanford’s Knight-Hennessy Scholars Program is one of the most prestigious fully funded MBA scholarships in the USA for international students. In 2024, 100 scholars were selected, fostering a community of global leaders and innovators.
Amount:
- Fully funded, covering tuition, stipend, and academic expenses (~USD 70,000 / ~INR 58.5 lakh per year)
Eligibility:
- Admitted to Stanford full-time graduate (MBA) program
- Demonstrate independence of thought, leadership, and civic mindset
- Submit a separate Knight-Hennessy application in addition to the Stanford GSB MBA application
- Apply within six years of completing an undergraduate degree
Deadline:
- October 8, 2025 (for 2025 intake; 2026 intake likely similar)
Number of Awards Granted:
- 100 scholars selected globally
Course Duration Cap:
- 2 years (aligned with MBA program duration)
3. Wharton Fellowship Program
Wharton offers multiple fellowships that don’t require a separate application. These fellowships support a diverse and talented MBA class. Over 65% of international students receive some form of financial aid, making Wharton a top choice for MBA scholarships in the USA for Indian students.
Amount:
- Partial to fully funded, varies by merit (~USD 66,000 – 70,000 / ~INR 55–58.5 lakh for the full program)
Eligibility:
- Admitted to the Wharton Full-Time MBA program
- Outstanding academic and professional record
Deadline:
- Same as MBA application deadline (check the official Wharton site for the 2026 intake)
Number of Awards Granted:
- Over 65% of international students receive some form of financial aid
Course Duration Cap:
- 2 years (aligned with MBA program duration)
4. Chicago Booth Scholarships
Booth offers a wide array of merit-based scholarships. International students are considered automatically. In 2024, its financial aid budget exceeded INR 387 Cr, supporting 10% of its MBA class with full-tuition awards.
Amount:
- Partial to fully funded, merit-based (~USD 30,000 – 60,000 / ~INR 25–50 lakh for the full program)
Eligibility:
- Admitted to the Chicago Booth Full-Time MBA program
- No separate application required; international students considered automatically
Deadline:
- April 29, 2025 (for 2025 intake; 2026 intake likely similar)
Number of Awards Granted:
- 10% of the MBA class received full-tuition awards in 2024
Course Duration Cap:
- 2 years (aligned with MBA program duration)
5. Dr. Tahir Fellowship and C & J White Fellowship
At UC Berkeley Haas, the Dr. Tahir Fellowship supports international students, showcasing a commitment to global talent. The C & J White Fellowship is specifically awarded to MBA students pursuing careers in finance. These targeted scholarships help Haas attract diverse talent with specific career aspirations.
Amount:
- Partial to fully funded, varies by financial need (~USD 34,000 – 66,000 / ~INR 28–55 lakh for the program)
Eligibility:
- Admitted to UC Berkeley Haas Full-Time MBA program
- Demonstrate financial need
Deadline:
- Aligns with MBA application deadlines (check the official Haas site for the 2026 intake)
Number of Awards Granted:
- Varies; awarded based on merit and financial need
Course Duration Cap:
- 1–2 years (depending on program and scholarship type)
6. Sloan Fellows Program
One of the most generous fully funded MBA in usa opportunities, ideal for mid-career professionals. The fellowship often exceeds INR 1Cr in total support. In 2024, 20% of fellows were international, with funding based on merit and diversity.
Amount:
- Fully funded, often exceeding USD 100,000 (~INR 83.5 lakh) for the one-year program
Eligibility:
- Admitted to MIT Sloan Fellows MBA program
- Demonstrated leadership potential
Deadline:
- Multiple rounds throughout the year (check the official MIT Sloan site for 2026 intake)
Number of Awards Granted:
- 20% of fellows were international in 2024
Course Duration Cap:
- 1 year
7. Kellogg Global Scholarships
Kellogg’s merit-based scholarships, like the Donald P. Jacobs Scholarship, offer INR 8.6L–INR 68L. In 2024, 25% of its MBA cohort received aid, with no separate application required. It’s ideal for Indian students.
Amount:
- Partial to fully funded, merit-based (~USD 8,600 – 68,000 / ~INR 7.2 – 57.0 lakh)
Eligibility:
- Admitted to the Kellogg Full-Time MBA program
- Academic excellence and leadership qualities
Deadline:
- Rolling (apply alongside MBA application)
Number of Awards Granted:
- 25% of MBA cohort received financial aid in 2024
Course Duration Cap:
- 2 years (aligned with MBA program duration)
8. Stanford Reliance Dhirubhai Fellowship
This fellowship is exclusively for Indian students and covers full tuition, living, and travel expenses for pursuing an MBA at Stanford. In 2024, five Indian students were awarded, requiring a commitment to return to India post-MBA.
Amount:
- Fully funded, covering tuition, living, and travel expenses (~USD 50,000 – 70,000 / ~INR 41.7 – 58.5 lakh for the full program)
Eligibility:
- Indian citizen (resident in India or abroad)
- Admitted to Stanford GSB MBA program
- Demonstrated financial need
- Commitment to return to India within two years post-MBA to work for an Indian organization
- Separate application required, including essays and financial documents
Deadline:
- May 30, 2025 (for 2025 intake; check Stanford site for 2026 intake)
Number of Awards Granted:
- 5 Indian students in 2024
Course Duration Cap:
- 2 years
Types of MBA Scholarships in USA for Indian Students
MBA scholarships in the USA can be broadly categorised into merit-based, need-based, diversity, and external scholarships. Understanding these categories can help you identify the scholarships that best fit your profile.
Below is a table summarising the primary types of MBA scholarships in the USA for Indian students.
| Type | Detail | Eligibility |
| Merit-Based Scholarships | Awarded to students demonstrating exceptional academic performance, leadership qualities, or professional achievements. | – High GMAT(700+) or GRE(320+) scores– Strong academic records– Leadership experience– Notable professional accomplishments |
| Need-Based Scholarships | Designed for students who require financial assistance to pursue their MBA studies. | – Demonstrated financial need– Supporting financial documents– May consider academic performance |
| Diversity Scholarships | Aimed at promoting diversity within MBA programs by supporting students from underrepresented backgrounds. | – Belonging to underrepresented groups (e.g., women, LGBTQ+, ethnic minorities)– Commitment to diversity– Leadership potential |
| External Scholarships | Offered by external organisations, foundations, or governments to support students pursuing MBA programs abroad. | – Varies by provider– Usually requires academic excellence– Leadership qualities– Alignment with the sponsor’s goals– A separate application may be needed |
Tips to Secure MBA Scholarships in USA for Indian Students
Winning a fully funded MBA scholarship in the USA is competitive, and Indian students face unique challenges like high tuition costs, visa requirements, and stiff competition from other top-performing candidates. Here’s what can make the difference for Indian applicants:
1. Build a Stellar Academic Profile
- Why it matters: US business schools value high GMAT/GRE scores and strong GPAs. Indian applicants should aim for GMAT 720+ or GRE 320+ to be competitive for top scholarships.
- Example: A 2024 Knight-Hennessy Scholar from India scored 740 on the GMAT, which was a key factor in securing full funding.
2. Show Holistic Excellence
- Why it matters: Schools look for leaders, not just scholars. Demonstrating involvement in leadership roles, community service, entrepreneurship, or extracurricular initiatives signals that you can contribute meaningfully to the MBA community and beyond.
- Example: Knight-Hennessy Scholars are valued for social impact as much as academic performance, highlighting the importance of well-rounded achievements.
3. Apply Early
- Why it matters: Early applications indicate commitment and enthusiasm, increasing the likelihood of consideration for competitive scholarships. Many scholarships, like Stanford’s Reliance Fellowship, close months before general application deadlines, so early submission ensures you don’t miss out.
4. Craft a Powerful Statement of Purpose (SOP)
- Why it matters: Your SOP is the most direct way to communicate your goals, values, and alignment with the scholarship. Tailoring it to each scholarship’s focus, such as leadership, social impact, or career objectives, demonstrates thoughtfulness and a strong fit.
- Example: Harvard’s fellowship prioritizes applicants who clearly articulate social or professional goals, which helps selection committees understand their potential impact.
Conclusion
Securing a fully funded MBA scholarship in the USA is achievable with careful planning and strategy. Indian students should consider eligibility, coverage, program fit, application requirements, and deadlines to identify the scholarship that best aligns with their academic and career goals. Assessing these factors helps you make informed choices and maximize financial support. Even after selecting the right scholarship, additional funding may be needed. Leap Finance offers collateral-free student loans starting at 8.5% interest. Get in touch with our experts today to secure a student loan now!
Frequently Asked Questions
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Can I get a 100% scholarship for an MBA in the USA?
Yes, fully funded MBA scholarships are available at several top US business schools. Programs such as the Fulbright Foreign Student Program, Knight-Hennessy Scholars (Stanford), HBS Fellowship Program, and Stanford Reliance Dhirubhai Fellowship cover full tuition and sometimes living expenses. Securing these scholarships is highly competitive, typically requiring exceptional academic records, leadership experience, and strong alignment with the scholarship’s objectives.
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Do MBA students get scholarships in the USA?
Yes, a significant portion of MBA students in the USA receive scholarships. Many universities automatically consider admitted students for merit-based, need-based, or diversity scholarships, while others require a separate application. For example, NYU Stern’s Dean’s Scholarship and Dartmouth’s Tuck School of Business Scholarships provide partial or full funding based on academic and professional excellence.
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How to get 100% scholarship for MBA abroad?
To maximize your chances:
Maintain a high GMAT/GRE score and GPA.
Build a holistic profile with leadership, community service, or entrepreneurial achievements.
Apply early and meet all deadlines.
Craft a tailored SOP highlighting your goals and how you align with the scholarship’s mission.
Research and target scholarships that match your background and intended MBA program. -
Who is eligible for an MBA scholarship?
Eligibility varies by scholarship, but generally, you must:
Be admitted to a recognized MBA program in the USA.
Demonstrate academic excellence and/or financial need.
Showcase leadership potential, professional achievements, or diversity contributions.
Fulfill any specific criteria set by the scholarship provider, such as nationality (e.g., some scholarships are exclusively for Indian students), field of study, or prior work experience. -
Does Harvard Business School offer fully funded MBA scholarships for international students?
Harvard Business School offers full-tuition scholarships to students with the greatest financial need, covering tuition and course fees for about 10% of its student body. Additionally, the Boustany MBA Harvard Scholarship provides full funding for international students.
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How much money is required to study MBA in USA?
The total cost of an MBA in the U.S. can range from $100,000 to $250,000(INR 88L – INR 2 Cr), including tuition and living expenses. Top programs like Harvard, Stanford, and Wharton are on the higher end of this spectrum.
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How to study MBA in USA for free?
Studying an MBA in the US for free is possible through fully funded scholarships such as Fulbright, Forté Fellowships, and university-specific awards. Some online MBA programs also offer affordable options, with costs as low as INR 5L for Indian students.
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