Scholarship For MBA In USA 2022: The Ultimate Guide For Indian Students

The article provides an overview of Scholarship For MBA In USA. The United States is home to some of the best business schools in the world. An MBA degree from one of the reputed US institutions can be instrumental in boosting one’s career prospects in this field. However, receiving a degree from any of the top US-based B-schools can be a distant dream for many candidates due to the high expenses involved. 

Luckily, Indian students can choose to get a scholarship for MBA in the USA that would conveniently fund their MBA degree course. Different colleges in the United States offer MBA scholarships to let deserving students pursue their degree courses without having to worry about finances.

Types of MBA Scholarships for International Students

Aspirants can receive two types of Scholarship For MBA In USA. These are:

Merit-based Scholarships

As the name suggests, these scholarships are offered to candidates on the basis of their academic performance. Students with excellent professional achievements, high scores on standardised tests and exceptional undergraduate GPA receive these financial grants.In addition, the commitment of aspirants toward social service is also taken into account while awarding these scholarships.

Need-based Scholarships

These scholarships are intended for those who come from families that are not able to support a degree course financially. Several top business schools in the US provides need-based scholarships and fellowships. These types of scholarships are determined on the basis of the income of the sponsor for the last three years.

Top Scholarship for MBA In USA for Indian Students

Indian students can receive the following MBA scholarships & fellowships from some of the most prestigious business schools in the United States:

Tuck School of Business

The Tuck School of Business provides a wide range of scholarships for those who wish to pursue MBA courses. These include the following:

• Centre for Business & Society

There are two programs developed by the Centre for Business & Society to provide financial aid to deserving candidates. The Tuck Non-profit Fellowship Program provides guidance and financial support to Tuck graduates joining the public sector or non-profit organisations. To be eligible for the Scholarship For MBA In USA, students should have exceptional academic performance or professional achievements.

• Merit-based & Need-based Scholarships

The merit-based and need-based scholarships of Tuck School of Business range from $5,000 to full tuition fees. The college authority informs the students of their scholarship status during admission.Students are required to write a biographical essay to apply for this scholarship.

Sloan School of Management

Students can get the following merit-based MBA scholarships from the Sloan School of Management:

• Master’s Fellowship

This scholarship for MBA is open to all students regardless of their backgrounds. The scholarship award ranges from $5,000 to full tuition fee coverage. This fellowship is meant for increasing the diversity of the class. 

• McKinsey Award

This award is open to all MBA students at MIT Sloan regardless of their background or professional experience. However, it is usually awarded to 4 students from the first year of the course. Applicants are shortlisted by the committee through applications and interviews.

Kellogg School of Management

The Kellogg School of Management offers a merit-based Scholarship For MBA In USA that is usually awarded during the admission process. These scholarships include:

• Donald P. Jacobs International Scholarship

Started by Donald Jacobs, the Donald P. Jacobs International Scholarship is awarded to international students who intend to pursue MMM or two-year programs. Students who successfully secure admission to the institution are automatically considered for this scholarship. 

• Diversity Scholarships

These scholarships have been introduced to increase diversity among the students at Kellogg. Students who wish to receive this award should display academic excellence and leadership skills.

Harvard Business School

Deserving students can receive various fellowships for MBA courses from Harvard Business School.

• Horace W. Goldsmith Fellowship 

 The Horace W. Goldsmith Fellowship is given to up to 10 students who intend to work for the non-profit sector. First-year students are eligible to receive an award of $10,000.To be eligible for this award, one should have worked in the non-profit sector full-time. 

• HBS Fellowship Program

These need-based fellowships are provided to students who get admitted to the institution and are in need of funds. According to Harvard, around 50% of its class gets $32,000 annually through its need-based fellowships.

Conclusion

Pursuing an MBA course abroad can be an expensive affair. However, deserving candidates can study MBA in the U.S. with scholarships from various top business schools. Some of these institutions also offer a full Scholarship for MBA In USA for Indian students.Hence, aspirants aiming to receive a scholarship from these institutions should check the official websites to learn about the application procedures and deadlines. Alternately, students can also choose the study abroad financial assistance option provided by LeapScholar. They can get convenient and hassle-free options to fund their study abroad dreams.