USA is home to some of the globally leading business institutes like Harvard Business School, Stanford Business School, the Wharton School and many more. However, the overall cost of studying MBA in the top universities in USA is as high as 170,000 to 220,000 USD (~1.27 to 1.64 crore INR). To support meritorious students financially, these universities provide MBA scholarships in USA to the students in need. The MBA scholarships in USA offer the students a full or partial tuition fee waiver. In some cases, the college may provide various allowances to the students.
MBA in USA is one of the most popular programs among international students. The MBA scholarships in USA can be categorized into two types:
- Need based scholarships: These scholarships are provided to the enrolled students with demonstrated financial need.
- Merit-based scholarships: These scholarships are provided to the meritorious students from the pool of enrolled applicants.
Explore: Indian student scholarships in USA
| US Universities with GRE/ GMAT Waivers in 2022 | Health insurance in USA | Estimated budget for international students in USA |
MBA Scholarships in USA by Top Universities
Following are some of the top business schools in USA and the MBA scholarships provided by them.
Harvard Business School MBA Scholarships
Harvard Business School provides need-based scholarships and complementary fellowships to the students. The needs of each student are determined by socioeconomic background, gross income from three years and assets. The amount provided is around $40,000 (~30 lakh INR) per year. The HBS alumni contribute to these scholarships.
Harvard University also provides complementary fellowships to the students who are eligible for the same. Some of the fellowships provided by the university are as follows:
| Fellowship | Eligibility | Amount in USD |
|---|---|---|
| John C. Phelan Forward Fellowship | Students from low-income backgrounds having financial obligations | 30,000 |
| Horace W. Goldsmith Fellowship | Demonstrated leadership in Non-profit sector | 10,000 |
| George Leadership Fellowship | Students having demonstrated leadership skills and have made an impact | 10,000 |
| The Robert S. Kaplan Life Sciences Fellowship | Student with demonstrated experience and commitment to life sciences | 20,000 |
The Wharton School MBA Scholarships
The Wharton School provides several fellowship opportunities to the deserving students through donors, corporate, foundations etc. All the applicants are considered for the fellowships. The fellowships are provided based on the application of the candidate, background, academic achievement, professional achievement and community involvement. Some of the fellowships provided by the University of Pennsylvania are as follows:
| Fellowship | Eligibility |
|---|---|
| Joseph Wharton Fellowship | Students with outstanding academic records, personal achievements and professional achievements |
| Emerging Economy Fellowships | Students from emerging economies |
| Prism Fellowship | Student who is member and demonstrates leadership in support of LGBTQIA community |
| Social Impact Fellowship | Students who have demonstrated leadership in nonprofit sectors or public sectors |
MIT Sloan School of Management MBA Scholarships
MIT Sloan School of Management scholarships are divided into two categories. Under one category, these fellowships do not require a separate application and the students are eligible for the fellowships while applying. The other category of the fellowships requires separate applications from the students. Some of the MIT scholarships which do not require any application are as follows:
- Samsung fellowship
- Verma family fellowship
- Stone masters fellowship for women
- Nath fellowship
- And many more
The fellowships requiring additional application from the aspirants are as follows:
| Fellowship | Eligibility | Amount |
|---|---|---|
| McKinsey Award | All incoming students | 10,000 USD |
| Legatum Fellowship | Financial assistance for entrepreneurial assistance | Varies |
| Lemann Education Fellowship | all | varies |
Kellogg School of Management MBA Scholarships
Kellogg School of Management provides both need based scholarships and merit-based scholarships to the MBA students. All the admitted students are automatically considered eligible for the merit-based scholarships. For the need-based scholarships, the students have to fill an extra form while applying. Some of the scholarships awarded by Northwestern University are as follows:
| Scholarships | Eligibility |
|---|---|
| Charles J. Schaniel Scholarship | Awarded to student with interest or background in accounting |
| Diversity scholarship | Extraordinary students from underrepresented backgrounds to add diversity to the college |
| Donald P. Jacobs International Scholarship | Awarded to strong international students |
| Frederick C. Austin Scholarships | Students having strong academic background, demonstrated leadership and have made a community impact |
| Healthcare at Kellogg Scholarship | Student interested to pursue a career in healthcare |
Columbia Business School MBA Scholarships
Columbia Business School provides both need-based and merit-based scholarships to international students who apply to the college. There are a wide range of need-based scholarships and merit-based scholarships available at the college. The need-based scholarships provided by the college are as follows:
- Laidlaw foundation scholarship (financial assistance to outstanding female students)
- Business School Alumni Scholarship Fund
- Class of 2000 Scholarship
- MBA Scholarship
- And many more.
The merit-based scholarships provided by the college are as follows:
| Fellowship | Eligibility | Amount |
|---|---|---|
| Merit-based | All students applying | 20,000 USD |
| Perelman Scholarship | Students from underrepresented race, ethnic, socio-economic groups | Variable |
| Columbia Fellows’ Program | Demonstrated leadership, innovation, creativity skills | Full or partial tuition fee waiver |
| Columbia Business School Board China and India Fellowships | Exceptional academic and professional commitment from India and China | Variable |
Tuck School of Business MBA Scholarships
Tuck School of Business provides various scholarships, fellowships and sponsorships to the students applying to the business school. The b-school provides need-based scholarships to the students based on their applications. The scholarship amount ranges from $10,000 to full tuition fee waiver.
Tuck School of Business also provides many types of fellowships to the students. Some of these fellowships are as follows:
- Consortium for Graduate Study in Management Fellowship
- Reaching out MBA fellowship
The college also offers sponsorships from many companies. These sponsorships help the students to reduce their MBA cost.
How to Apply for the Scholarships: Students applying to universities are automatically considered eligible for merit-based scholarships. While for the need-based scholarships, students have to apply separately. Need based scholarships are provided to the students having financial needs and they have to verify the needs. The needs are verified through the following ways:
- Through bank statements
- Tax returns filed in the home country
- Assets
- Socio-economic background
- Country of residence.
Also check: Education loans to study in USA
Universities offering MBA in USA verify the background of the students before providing them scholarships. A student should demonstrate financial needs for need-based scholarships. For merit-based scholarships the students should have excelled in academics, professional career and in extracurricular activities.
1641992784.jpg?tr=w-305,h-145,c-force?h=175&w=350&mode=stretch)
Comments