An MBA in the USA is one of the most sought-after programs among ambitious Indian students due to its immense academic value and career prospects. The USA has some of the world’s highest-ranked business schools, such as Stanford, Harvard, NYU, etc. However, the expenses to study MBA in the USA can be overwhelming. This article offers an overview of the scholarships available for Indian students and how to apply for them.

Types of Scholarships for an MBA in USA

There are three types of scholarships for students to study MBA in the USA:

1.     Merit-Based Scholarships to Study MBA in USA

These are awarded to scholars who demonstrate extraordinary academic performance, leadership skills, or professional achievements. Some examples of merit-based scholarships for MBA students include the Stanford Reliance Dhirubhai Fellowship and Harvard Business School’s need-based fellowships.

2.     Need-based Scholarships to Study MBA in USA

These scholarships aim to financially aid talented students who need financial support to pursue higher education. Need-based scholarships for MBA students help skilled students who study MBA in the USA access quality education, regardless of their financial situation, and are offered by universities and private organizations. Examples include Goldman Sachs MBA Fellowships and Knight-Hennessy Scholars.

3.     External Scholarships to Study for an MBA in USA

 These scholarships are provided by the government, external organizations, or foundations to support Indian students. If you’ve already procured a university scholarship to study MBA in the USA, you can still apply for external scholarships for added financial support. Examples include Fulbright-Nehru Master’s Fellowships and the Inlaks Shivdasani Foundation Scholarship.

Popular Scholarships for Indian Students Who Study MBA in USA

Here are the details of some popular scholarships for international students doing an MBA in the USA.

1.     Dean’s Scholarship – Stern School of Business

The Dean’s Scholarship, rewarded in the name of Dean Rangarajan “Raghu” Sundaram, is a 2-year grant given to qualifying students who study MBA in the USA  at the Stern School of Business. NYU. This is among the most prestigious awards for talented students and covers 100% of the MBA tuition expenses.

2.      Fulbright-Nehru Master’s Fellowship

This is a prestigious scholarship for Indian students pursuing master’s programs, including graduates studying for MBA in the USA. It covers tuition and living expenses, airfare, and health insurance costs. To qualify for this grant, applicants need to have an exceptional academic record, stellar leadership qualities, and three or more years of work experience.

3.      Stanford Reliance Dhirubhai Fellowship

This fellowship supports Indian students who study MBA in the USAand demonstrate outstanding leadership potential and a dedication to contribute to India’s development. The grant covers a maximum of tuition and related expenses. To qualify, applicants have to get admission to Stanford’s MBA program and show proof of financial need.

4.      The Inlaks Shivdasani Foundation Scholarships

 This scholarship aims to support Indian students who study MBA in the USA at high-ranking educational institutions such as Columbia, Harvard, Stanford, etc. The scholarship covers up to $100,000 of tuition and living expenses. The program is applicable only to students under 30 with an outstanding academic record who’ve gained admission to a high-ranking MBA program.

5.     The Tata Scholarship Fund for Cornell University

This program supports Indian students who study an MBA in the USA at Cornell University. The program covers tuition fees and living expenses and is also applicable to several other programs at Cornell University. To qualify, students need to have a proven record of academic excellence and show proof of financial need.

6.      Donald P. Jacobs International Scholarships – Kellogg School of Management

The Kellogg School of Management, NYU, offers multiple merit-based scholarships. Students who study MBA in the USA are automatically considered for these merit scholarships once admitted to Kellogg School of Management. The Donald P. Jacobs International scholarships are highly popular and are awarded to reputed international 2-year MBA programs.

How to Apply for Scholarships to Study MBA in USA

Here are some tips to simplify the process of applying for a scholarship to study MBA in the USA:

• Start researching scholarships when you’re researching colleges for your MBA, and carefully analyze the eligibility criteria and deadlines.
• While applying, write strong essays to highlight your academic performance, career goals, and leadership abilities.
• Get strong letters of recommendation from your professors, teachers, or employers.
• Score Well on Your GMAT/GRE and English Proficiency Tests to increase your chances of getting merit-based scholarships.
• If you’re applying for a need-based scholarship, please provide adequate financial documents and a detailed explanation of your financial situation to prove your financial need.
• Research external scholarships and their eligibility criteria offered by Indian organizations or global institutions.

Other than the scholarship programs listed above, some other popular scholarship programs include the Rotary Foundation Global Grants, Columbia Business School MBA Scholarship, Harvard Business School India Fellowship, etc. These scholarships play a large part in making business studies accessible for students to study MBA in the USA. Ensure that you’ve researched well about the scholarships you apply to and fulfil their criteria to maximize your chances of qualifying for one.

Want to learn more about the scholarships to study MBA in the USA? Reach out to us at Imperial Education Overseas Consultants today! We can help you learn more about the scholarships you are eligible for while studying MBA in the USA.

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