Study Abroad Scholarships for Indian Students
Thousands of Indian citizens start their journey to business school each year on what they hope is the path to being the next great business leader. Globally, 15 percent of global GMAT exam test takers are Indian citizens, according to recent data from the Graduate Management Admission Council (GMAC).
But business school can be a significant investment. The BusinessBecause Cost of MBA Report shows that the average total cost of a top-tier MBA program is US$176,000.
That shouldn’t put you off applying though, and, once you do the research, you’ll realize there are multiple financing options to help you pay for business school.
Top 10 study abroad scholarships for Indian students
Many business schools offer generous study abroad scholarships for Indian students, which can help cover your tuition and living costs. On top of that, many top business schools in the US and in Europe offer international scholarships for Indian students based on your GMAT score. A strong GMAT score in some instances can earn you up to 50 percent off your tuition.
Here are 10 study abroad scholarships for Indian students:
1. National Overseas Scholarship
This international scholarship for Indian students is offered by India’s Ministry of Social Justice and Empowerment.
It covers up to US$15,400 towards costs. To be eligible, you must come from a family with an income of less than US$10,800 per year and you must be below 35 years old. You should have an undergraduate degree with a minimum score of 60 percent. Only two children from the same family can apply for the National Overseas Scholarship.
2. Fulbright-Nehru Master’s Fellowships
The United States-India Educational Foundation will grant you funding for your tuition fees, living, and related costs. Though the Fellowship may not cover 100 percent of tuition fees, it will also support your J-1 visa application for all programs in the US, grant you accident and sickness coverage as per US guidelines, and provide round-trip economy class travel from your home city to the host institution in the US.
To receive this one- to two-year scholarship to study in the US, you need to have demonstrated leadership qualities, have completed the equivalent of a US bachelor’s degree with at least 55 percent marks, have at least three years of professional work experience, and be committed to returning to contribute to your community after the scholarship.
3. GREAT Scholarships India
The UK government’s GREAT Britain Campaign and the British Council fund the GREAT Scholarship, which covers a minimum of US$13,600. Among the requirements are:
- You must be a citizen of India.
- You must have an undergraduate degree, be motivated, and have an interest in the proposed subject area.
- You must meet the English language requirements of the UK university.
4. Commonwealth Scholarships
This international scholarship for Indian students is offered to those who want to study in the UK.
The British Council is among the main bodies in the UK that offer full study abroad scholarships. A Commonwealth scholarship covers the approved tuition fees for your course and an approved airfare from your home country to the UK and return at the end of the scholarship. It also provides a living allowance of around US$1500 per month, with that rising to US$1900 for those living in the London metropolitan area.
To be eligible, you need to be a citizen of or permanently reside in a Commonwealth country. You should have an undergraduate degree of at least upper second class (2:1) standard, or a second-class degree (2:2) and a relevant postgraduate qualification. You also need to prove that you would not be able to afford your education without funding.
5. Erasmus Mundus Scholarships
The Erasmus Mundus Scholarship is offered by the European Union and covers programs across multiple European countries. The scholarship is available to citizens or permanent residents of India who haven’t lived, studied, or worked in any of the eligible countries in Europe for more than a year in the past five years.
It’s also one of the options for you if you’re looking for full study abroad scholarships. If you’re eligible, you’ll receive full funding of tuition fees, paid flights to and from the country of study, and a living allowance.
6. GyanDhan Scholarship
This merit-based study abroad scholarship is given to one student every year who wants to study a two-year postgraduate course in the US, Canada, UK, Australia, New Zealand, or Germany.
To be eligible, you need to be an Indian resident with an undergraduate degree from an Indian institution. Candidates will be scored on their academic performance, GRE, TOEFL, or IELTS test score, and statement of purpose or letters of recommendation. The maximum scholarship amount is around US$1,300 to be used towards tuition.
7. Stanford Reliance Dhirubhai Fellowships for Indian Students
Stanford Graduate School of Business provides financial support at the beginning of every academic year to up to five Indian nationals who commit to returning to India post-MBA.
This scholarship provides up to US$95,000 per year, with the amount differing based on each candidate’s circumstances. The grant can be used for tuition, living expenses, and health cover.
To be eligible, you must be an Indian citizen, eligible for the Stanford MBA, have a graduate degree, have passed the minimum cutoff for the GMAT, and have English proficiency scores through IELTS or TOEFL.
8. The Indian Trust Fellowship
Two fellowships are provided by the University of Chicago Booth School of Business every year.
They offer US$10,000 to cover your tuition fees for a full-time MBA. To be eligible, you must show proven excellence in your leadership capabilities, your extracurricular activities, and your overall academic performance. You must also have been living in India at the time of admission to the program, and be committed to advancing the interests of women in business.
9. Akhtarali H. Tobaccowala Fellowship
This fellowship was introduced by the University of Chicago Booth School of Business in 2011, in memory of the 1952 Chicago Booth graduate, Akhtarali H. Tobaccowala, who became the director of the Indian multinational conglomerate, Tata Group, and was the founder of the international initiative, Impact India.
The fellowship is offered to two students and provides US$25,000 in financial aid for students of the full-time MBA at Booth.
10. Orange Tulip Scholarship
If you’re wanting to study in the Netherlands, the Orange Tulip Scholarship is offered to students from Neso countries (Netherlands Education Support Offices) including Brazil, China, India, South Korea, and Vietnam.
To be eligible, you need to be living in one of these countries and must not have already completed an undergraduate degree or worked before in the Netherlands. Business schools offering this study abroad scholarship include Amsterdam Business School, Maastricht School of Management, Nyenrode Business University, and Rotterdam Business School.
The application requirements and total amount of scholarship aid provided varies between institution.
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