International MBAs have an edge because of their far-reaching networking opportunities, guidance from the best industry experts, and holistic learning methods. However, an MBA does not come cheap, and this might make the program out of reach for certain students. Luckily, both public and private organizations offer attractive MBA scholarships to assist these students in pursuing their goals. 

Here is a list of 7 such scholarships for you to accelerate your MBA journey overseas.

National Overseas Scholarship

The Ministry of Social Justice and Empowerment, Government of India, offers the National Overseas Scholarship exclusively for students from: 

• Scheduled Castes
• Landless Agricultural Labourers
• Denotified Nomadic and Semi-Nomadic Tribes
• Traditional Artisans. 

Another eligibility requirement is that the total family income should be below 8 lakhs per annum. 

Award: NOS covers the tuition fees, visa, and medical insurance along with a maintenance allowance (US Dollars 15,400/- annually except in the UK; Great Britain Pound 9,900/- annually in the UK)

Application Procedure: NOS can only accommodate 125 people; therefore, it is purely a merit-based scholarship. The application process is fully digital, where you will need to submit academic, financial, and verification records along with the admission letter for an MBA abroad from the international university.

United States-India Educational Foundation

The US and India partner for this great educational fund with the motive of nurturing young professionals on international grounds, serving society at large. As part of this commitment, USIEF developed EducationUSA, its exclusive tool to mentor students planning to study in the USA.

Its eligibility criteria for MBA scholarships include solid academic records, three years of work experience in the relevant field, an obligation to return home once the student completes the program, and 2-3 referees to verify your work credentials.

Award: USIEF covers all tuition fees, research expenses, travel, medical costs, and accommodation expenditures.

Application Procedure: USIEF’s application process is completely online, beginning in August/September of every year and concluding four to five months later. You must submit all your academic records, along with essays that demonstrate your capability and dedication toward the betterment of society and an acceptance letter from the university.

INSEAD Deepak and Sunita Gupta Endowed Scholarship 

Deepak Gupta, an alumnus of INSEAD, and his wife Sunita established this scholarship, open to all candidates from developing countries who can verify their economic needs.

Award: Up to €25,000 to cover tuition fees and living expenses.

Application Process: Scholarship applications are open during admission rounds. The procedure usually includes document verification and an essay explaining your financial needs, academic and economic background, future aspirations, and plans to contribute to society.

Chevening Scholarship

The Chevening scholarship is exclusively for universities in the UK. While not exclusive as MBA scholarships, the Chevening Scholarship is a prestigious postgraduate award for international students aiming to study in the UK. You need to demonstrate a zeal to work for the betterment of the current world, along with 2,800 hours of work experience, a bachelor’s degree, and a commitment to return to your home country for at least 2 years after the MBA.

Award: This award covers all of the costs for tuition, research, travel, medical care, and lodging.

Application Procedure: The application process is entirely online, and applications are open from August through November. We recommend committing over six months to finish the entire process. 

Wharton Fellowship Programs

An MBA from Wharton, University of Pennsylvania, stands out as one of the most prestigious management courses in the world. To support its students, Wharton offers a plethora of scholarships under the Wharton Fellowship Programs. A few of them are the Emerging Economy Fellowships, the Forte Fellowship, and the Joseph Wharton Fellowship.

Award: These MBA scholarships cover estimated tuition costs and relevant overheads. Depending on the semester, the financial aid is split into four premiums. 

Application Procedure: Most Wharton Fellowship aids are needs- or merit-based; these are open for application during the admission process.

Skoll Scholarship (UK)

The Skoll Scholarship is an exclusive program for Oxford MBA graduates with an entrepreneurial mindset and the drive to create change. The Skoll Centre for Social Entrepreneurship at Oxford Saïd offers these MBA scholarships to promote innovation in the public sector and the growth of the Skoll scholar community. 

Grant Awarded: It provides 100% financial coverage for tuition fees and funds for accommodation and other living expenses.

Application Procedure: The Skoll scholarship mandates three years of work experience in the social sector and a proven track record as an “impact career professional.” When applying for the Oxford MBA, you can apply directly to Saïd Business School in stages 1, 2, 3, or 4 to avail yourself of this scholarship. Demonstration of financial need and a straight entrepreneurship goal is mandatory for selection, as there are only 4 seats. 

Erasmus Mundus Joint Master Degree Scholarships (Europe)

Erasmus+ is a unique scholarship by a consortium of European universities for a master’s program in participating universities. It allows students to pursue master’s degrees from 2 different universities and supports research and internship expenses.

Grant Awarded: Erasmus+ provides a full tuition fee waiver, a €2,000–€4,000 annual travel budget, a €1,000 accommodation fund, and a monthly stipend of €1,000. Additionally, it offers health insurance and visa fees. 

Application Procedure: Applications are open between October and January. Regular academic records, an essay, and an admission letter are requisite for the application.

Concluding Remarks

MBA scholarships are proof of the age-old saying, “Where there is a will, there is a way.” An MBA can elevate your career, helping you scale the corporate ladder, transition across job roles, and unlock higher earnings. With scholarships, these opportunities become even more accessible. Therefore, don’t let the worry over finances prevent you from having an international perspective while exploring the MBA world.