MBA scholarships in USA: One of the major obstacles that students planning to pursue a degree in management studies from the USA face is the cost of pursuing the course. In that case, MBA scholarships are an excellent source of funding your management course from the USA. One of the reasons why USA continues to hold a predominant position as a study abroad destination for Indian students is the numerous attractive MBA scholarships that its universities offer.
Name any top management school in the USA and it is bound to have an MBA scholarship best suited for an Indian student. Do you know that the Stanford Reliance Dhirubhai fellowship offers full tuition fees for each year of your study in Stanford? Not just that, you can also avail the India Trust Fellowship at Booth School of Business under Chicago University.
Here is a list of top MBA scholarships in some of the best business schools in USA.
Stanford Graduate School of Business
a. Stanford Reliance Dhirubhai fellowship: The Stanford Reliance Dhirubhai fellowship was established by Reliance Industries Limited to support Indian nationals living in India who need financial assistance for pursuing an MBA at Stanford.
Upto five fellowships maybe awarded each year under the Stanford Reliance Dhirubhai fellowship.
Fellows will receive cost of tuition and associated fees for each year of the two-year Stanford MBA Program (approx $145,000).
Within two years of completing their MBA, fellows are required to return to India for a period of at least two years to work for an Indian organisation.
Upon their return to India, the fellows are integral members of Stanford University, Stanford GSB and Reliance Dhirubhai Fellows communities.
Up to 50 Reliance Dhirubhai Fellows finalists will be selected based on:
Commitment to developing India
Program finalists must meet all Stanford GSB application requirements
Below is the application timeline:
April - Mid June
Reliance Dhirubhai Fellowship Program application available online
Reliance Dhirubhai Fellowship Program application submission deadline
Reliance Dhirubhai Fellowship Program finalists notified
July - October
Reliance Dhirubhai Fellowship Program finalists prepare and submit Stanford MBA application
Stanford MBA Program application due
Stanford releases admission decisions, including those for Reliance Dhirubhai Fellows
September (next year)
Reliance Dhirubhai Fellows matriculate in Stanford MBA Program
Booth school of Business (Chicago University)
A. The India Trust Fellowship: One of the popular MBA scholarships in the USA, the India Trust Fellowship is a merit-based fellowship, which offers a one-time $10,000 tuition award to two students from India who want to pursue Full-Time MBA at the Booth School of Business, Chicago University.
Offered at Chicago University, the scholarship is offered to the candidates who are committed to advancing the interests of women in business. Students with leadership, academic and extracurricular achievements are shortlisted for this scholarship.
There is no formal application process for Chicago Booth fellowships. However, aspirants can contact the Office of Admissions office.
B. Akhtarali H. Tobaccowala Fellowship: Introduced in 2011, the Akhtarali H. Tobaccowala Fellowship is open for full –time MBA students from India. The scholarship was launched as a result of a $1 million gift from the Tobaccowala Foundation of India, in memory of the 1952 graduate of Chicago Booth School of Business.
Aspirants should be pursuing Booth’s full-time MBA program.
The primary address of the aspirant should be in India at the time of admission.
Application: There is no formal application process. However, prospective students will be selected when they apply for the programme.
Wharton School of Business:
The Wharton School of Business has a range of scholarships for talented aspirants with financial constraints. Below are some scholarships:
A. Emerging Economy Fellowships: This MBA scholarships in the USA have been specially established for students from emerging economies. Applicants are required to pursue full-time MBA at Wharton and the fellowship covers both the years of your course.
Eligibility: Only first year students can apply for the scholarship. Below are the required criteria:
Exceptional professional development,
Unique personal qualities.
Application: Students who are admitted to Wharton will be automatically considered for the Emerging Economy Fellowships. Also, there is no formal fellowship application procedure. Students have to apply through the usual MBA admission application procedure.
B. Joseph Wharton Fellowships: Named after the founder of Wharton, the Joseph Wharton Fellowships are awarded to students with outstanding academic, personal and professional records.
Eligibility: All admitted students of Wharton are eligible for scholarships.
Application: There is no formal fellowship application procedure. Students have to apply through the usual admission application procedure.
C. Social Impact Fellowships: Social Impact Fellowship provides undergraduate and graduate students across Wharton the opportunity to strengthen strategic, operational and leadership skills while making a positive difference in the world.
Fellows are a part of a program which includes mid-project evaluations and a final project presentation.
Eligibility: Aspirants have to show leadership in public and non-profit sectors.
Tuck School of Business (Dartmouth College)
The Tuck School of Business offers a host of scholarships for talented individuals with financial needs.
Below are some scholarships:
A. Need- And Merit-Based Scholarships: The Tuck School of Business offers both need and merit based MBA scholarships in the USA to international students. The scholarships can range anywhere from $5,000 to full tuition and students are notified about their scholarship at the time of their admission.
Eligibility: Tuck considers factors like academic performance, leadership and professional accomplishments.
Application: Candidates must complete an application for Tuck School of Business Scholarships in accordance with the deadlines.
In addition, candidates also have to write a brief biographical essay to be considered for admission.
B. Center For Business & Society: Two programs developed by the Center for Business & Society provide financial support to students. While the ‘TUCK GIVES’ program, provides financial support to students planning to enter non-profit or public sector summer internships, the Tuck Non-profit Fellowship program provides financial assistance, mentoring and networking support to graduating Tuck students who join a non-profit or public sector organization. Recipients can use the non-profit fellowship to pay off loans as well as provide cash to transition to their new job.
Eligibility and application process are same as the Need- And Merit-Based Scholarships.
Kellogg School of Management (Northwestern University)
Kellogg School of Management offers many merit based MBA scholarships in the USA, which are awarded throughout the admission process.
A. Donald P. Jacobs International Scholarships: Established by Donald Jacobs, the Donald P. Jacobs International Scholarships are awarded to international students to pursue the two-year and MMM Programs.
B. Diversity Scholarships: The aim of this scholarship program is to attract candidates who enhance the diversity of Kellogg’s student body. These awards are presented to students who demonstrate academic excellence, career advancement and leadership ability.
Eligibility: Admitted applicants are automatically considered for all merit scholarships
Application: Merit scholarships are awarded through the admissions process.
Columbia Business School
Columbia offers both need and merit based scholarships to international students. It offers full- time and partial-tuition fellowships to talented students depending on their academic excellence and financial needs.
A. Meyer Feldberg Distinguished Fellowship Program: The Feldberg Fellowship is given each year to select students who demonstrate leadership qualities, as well as academic competence. The fellowship provides full tuition and membership of the group of Feldberg fellows.
Fellows should have a record of success in areas as entrepreneurship, finance, military and social enterprise.
Fellows should have an excellent record in academic, personal background and professional experience.
Application: There is no separate application for merit-based fellowships. Candidates must apply for admission to the full-time Columbia MBA Program.
Sloan School of Management
MIT Sloan awards several competitive, merit-based MBA scholarships in the USA to new and second-year students.
A. Master's Fellowships: The master’s fellowship is available to students from all citizenship and backgrounds, as the objective of the fellowship is to increase the diversity of the class. The scholarship ranges from US $5000 to full tuition fees.
Eligibility: All admitted candidates are considered for these fellowships
B. McKinsey Award: The McKinsey award scholarship is provided to 4 first-year students. The award is open to all incoming MBA students at the MIT Sloan School of Management regardless of professional experience and background.
Eligibility: The award emphasizes on academic excellence, personal impact; and professional, campus, or community leadership.
Application: The McKinsey Award Committee selects the recipients of the scholarship based on the MIT Sloan application and possible interviews.
The awards are generally announced in early fall of the first semester.
David A. Tepper School of Business (Carnegie Mellon University)
The Tepper School of Business offers many MBA scholarships in the USA to full-time MBA candidates admitted at Tepper.
A. McGowan Fellows Program: Established in 2010, the McGowan Fellows Program is funded by the William G. McGowan Charitable Fund. The purpose of the fellowship program is to create talented business leaders who are dedicated to making a global impact by improving the conditions of the society.
Eligibility: One fellow is chosen from each of ten B-schools ranking in the top 20 MBA programs in the USA. The partner schools are Carnegie Mellon, Columbia, Duke, Georgetown and Northwestern Universities; the Universities of Chicago, Michigan and Pennsylvania; Massachusetts Institute of Technology; and Dartmouth College.
Application: Eligible students are required to complete an application form, due in the spring of the first year of study.
Harvard Business School
Harvard Business School has its own fellowship plan for aspiring students.
A. HBS Fellowship Programs: The Harvard Business School (HBS) awards need-based fellowships to provide access to admitted students with limited financial resources. According to Harvard, nearly 50% of its class receives an average of around $32,000 per year in need-based HBS Fellowships.
B. The Robert S. Kaplan Life Sciences Fellowship: This fellowship is offered to ten students who can show outstanding performance in life sciences. The value of the scholarship is $20,000 and is provided at the time of admission.
However, preference is given to aspirants who want to join science-related businesses or organizations.
C. Horace W. Goldsmith Fellowship: The Horace W. Goldsmith Fellowshipis offered to 7-10 students who show willingness to work in the non-profit sector. The value of the award is $10,000 and offered to first year MBA students. More than 100 students have received this award since its inception in 1988.
Eligibility: Recipients must have served full time in the non-profit sector prior to applying to Harvard Business School.
Haas School of Business (University of California, Berkeley)
Two types of scholarships can be sourced in Haas - Institutional scholarships from Haas and scholarships from other organizations. According to the Haas School, it had awarded over $5.5 million in scholarships to domestic and international students in 2012-2013. Some of the available scholarships are:
a. Haas Achievement Awards: Approximately $50,000 is awarded to individuals who have achieved success despite economic, educational, health-related or other obstacles.
b. Diversity Scholarships: Diversity scholarships are awarded to those who can show their ability in promoting diversity. The value of the award is $50,000.
c. Marketing Scholarships: The Marketing Scholarship of $50,000 is awarded to MBA students pursuing careers in marketing.
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