Scholarships for MBA Programs are very competitive and only a limited number of students get something. Funding remains a major concern for the students aspiring for Global MBAs and no source of funding is better than scholarships! Global schools get a lot of funding from the industries and the alumni for helping the deserving candidates. In MBA admissions, the scholarships are mainly profile based. The criteria for scholarship are the same that decide admits- a robust combination of academics (including GMAT), work experience, and extra-curricular activities; GMAT plays a very crucial role in this regard. Scholarships for MBA programs may range anywhere between 10% and 100% of the tuition fee.
How to Apply for the MBA Scholarships?
In most schools, there is no separate process for applying for scholarships and all applicants are considered for scholarships. However, many schools require a separate essay for consideration for scholarships.
Do all Business Schools offer Scholarships?
It is important to understand that not all MBA Programs offer scholarships. US top 20 programs and almost all the MBA programs outside North America are not very scholarship friendly. Hence, it is important to research over the scholarship opportunities (for domestic as well as international students).
When do we get to know about the Scholarship Result?
Most schools declare the scholarships along with the admission decision. Hence, you shall know the amount of scholarship you have received and can take well informed decision- well before making a commitment to join the program.
Can one Negotiate for Scholarships?
There is no official procedure for ‘negotiating’ the scholarships but yes, one must try. The admission departments of these schools is very friendly and approachable. You can have candid discussions with them and tell your situation. Sometimes, even writing an essay for scholarship- suggesting that there have been few drastic improvements in profile in past few weeks and the adcom should re-consider the candidature for scholarship, works.
If scholarship is an important concern for an enrolled student, we shortlist schools where the student stands a practical chance of winning scholarships. Our hefty experience in admissions consulting gives us the wisdom to practically evaluate a student’s chances for admissions and scholarships as per one’s profile and scores.