Studying for an MBA in the USA offers great education, but it can cost over $100,000 per year. An MBA Scholarship in USA can help reduce this high cost. This blog shares the top MBA scholarships for 2025 to make your dream of studying in the USA more affordable.
Table of Contents
Ques1. Can I get a 100% Scholarship for an MBA in the USA?
Ques2. Why do Indian Students Prefer an MBA in the USA?
Ques3. What is the Importance of Scholarships for International Students?
Ques4. How to Improve Your Chances of Receiving a Scholarship?
Ques5. Do I Need to Submit a Separate Application for These Scholarships?
Ques6. Who is Eligible for an MBA Scholarship?
MBA is one of the most in-demand courses in the USA because of the changing job market, and as per a report from Poets&Quants, having an MBA can give graduates a competitive advantage. But there is no denying that it is also one of the most expensive degrees, especially for international students.
With the general tuition fees ranging from $60,000 to over $100,000 per year, it is easy to understand why so many international students are looking for MBA Scholarship in USA. And not to forget, the additional living expense that comes with studying in the USA, which can go up to $10,000 - $18,000 a year.
Some of the top institutes like Harvard, Wharton, Stanford, and many others provide scholarship for MBA to international students, and especially Indian students, so that they can reduce the overall cost and make their education abroad more accessible.
There are multiple types of MBA scholarships available for students who want to study in USA. Most of these scholarships can easily be found on the university’s website, scholarship portals like WeMakeScholars and OnlineMBA, and organisations like the Fulbright Program and the British Council.
Below are some of the types of scholarship for MBA students in the USA:
1. Merit-Based Scholarships: These are for students who have high academic standing and show exceptional achievement, like strong GMAT/GRE scores and a high GPA.
2. Need-Based Scholarships: These scholarships are awarded to students who show financial need and are given based on their family’s income and assets.
3. School-Specific Scholarships: Many schools also have their specific scholarships that are awarded based on merit, need, and sometimes as a combination of both.
4. Corporate Scholarships: Many companies also provide scholarships to their employees and students who agree to work with the company after graduation. For example, Goldman Sachs has a fellowship specifically for MBA students.
In addition to these, there are also different scholarship for MBA students that are available for specific demographics and special career paths. Just make sure to carefully review the eligibility and application procedures for each scholarship.
Don’t Know How to Apply for MBA Scholarships as an International Student?
Below is a list of scholarship for MBA students that are provided by top institutes like Harvard Business School, Chicago Booth, Wharton, Columbia Business School, MIT Sloan, and Stanford. These are both need and merit-based scholarships that national and international students can get:
Harvard provides need-based scholarship of around $42,000 per year as of 2024 to almost half of its MBA student body. These are designed to make education at Harvard much more accessible to students from all backgrounds. Moreover, it also provides fully funded MBA programs in USA that are awarded to 10% with the greatest need.
Scholarship/Fellowship |
Eligibility |
Benefits |
George Leadership Fellowship |
Strong leadership potential |
Full/partial tuition + leadership programs |
Horace W. Goldsmith Fellowship |
U.S. citizens with financial need |
Full tuition + living stipend |
Forward Fellowship |
First-generation or underrepresented students |
Financial support + professional development |
John H. McArthur Canadian Fellowship |
Canadian citizens or residents |
Full tuition + living expenses |
RISE Fellowship |
Focus on social impact/public service |
Full/partial tuition + living expenses |
The University of Stanford provides need-based scholarships to both national and international students. Half of its students receive financial aid of up to $47,000 per year. Here, almost all MBA students, regardless of their financial background, are eligible for scholarship support.
Scholarship/Fellowship |
Eligibility |
Benefits |
Stanford GSB Need-Based Fellowships |
Based on financial need |
$47,000 per year, up to $94,000 in total |
Stanford GSB BOLD Fellows Fund |
Students with financial hardship + commitment to expanding opportunity |
Additional financial aid support for eligible students |
Stanford Knight-Hennessy Scholars Program |
Two applications (one to GSB, one to Knight-Hennessy) |
Full funding for up to 3 years + leadership development |
Employer Sponsorship |
Sponsored students (employer loans or forgivable loans) |
May not be eligible for GSB fellowships |
Military/Yellow Ribbon |
Military veterans (eligible for Post-9/11 GI Bill) |
Financial support + Yellow Ribbon Program for additional tuition coverage |
Wharton provides both fellowships and scholarship for MBA students, which do not require a separate application process. All the admitted students get automatically evaluated for the fellowship based on their application.
Scholarship/Fellowship |
Eligibility |
Benefits |
Wharton Fellowships |
-Merit-based -Strong academics -Leadership potential |
Partial tuition coverage; renewable for the second year |
Joseph Wharton Fellowship |
Exceptional leadership potential and commitment to community service |
Merit-based, automatic consideration upon application |
Forté Fellowship |
Women in business (Wharton is a member of the Forté Foundation) |
Aimed at increasing women in leadership roles; partial tuition support |
CBS is another business school which provides fully funded MBA programs in USA to exceptional students. There is no separate application process required to get a merit-based scholarship. Additionally, need-based aid needs an application by mid-January (August entry) or mid-October (January entry).
Scholarship/Fellowship |
Eligibility |
Benefits |
Need-Based Scholarships |
Based on financial need (assessed via resources) |
Partial tuition coverage, varying amounts depending on need |
Merit-Based Scholarships |
Exceptional academic & professional potential |
Partial tuition, some awards up to $30,000 |
Robert F. Smith Scholarship Fund |
CBS students from HBCUs, who’ve overcome hardships, or show commitment to diversity |
Full/partial scholarships |
CBS Board Fellowship |
Exceptional academic & professional promise |
Full tuition; renewable for second year |
Note: There are also external funding opportunities available at Columbia Business School. For example, Military MBA Scholarships, The Consortium for Graduate Study in Management.
Also Read: International Scholarships for Indian Students to Study Abroad
Yale provides multiple MBA Scholarship in USA that are both need and merit-based. This is to provide access to business education through financial aid and has even launched a $5 million initiative. Additionally, Yale also meets 100% of demonstrated financial need regardless of citizenship or immigration status for all of its students.
Scholarship/Program Name |
Eligibility |
Benefits |
Awarded for anticipated contribution to the class |
Bulk of scholarships; may be donor-funded upon enrollment | |
Consortium Fellowship |
Admitted students applying through The Consortium |
Full tuition and fees for two years |
Aspire Fellowship |
Students who have overcome socioeconomic challenges |
-$5M in scholarships -From $60,000 to full tuition |
Forté Fellow |
Admitted students committed to advancing women in business |
Merit-based funding |
Yale Scholarships for Entrepreneurs |
Students with a demonstrated interest in entrepreneurship |
Merit scholarships + up to five Entrepreneurial Fellows with 2 years of loan deferral for startup work |
Last but not least, the Kellogg School of Management also provide fellowships and scholarship for MBA, including both need-based and merit-based options. There is no separate application process to get these financial aids; students are automatically considered for them upon admission.
Scholarship Name |
Eligibility |
Benefits |
Kellogg Scholarship |
Full-time MBA applicants with strong academics and leadership |
Partial tuition support |
Austin Scholarship |
Two-Year/MMM applicants with exceptional leadership; 250-word essay required |
Up to full tuition; leadership development |
Dean’s Leadership Scholarship |
Strong overall MBA application |
Merit-based tuition support |
Emerging Markets Scholarship |
Applicants from emerging-market countries |
Up to 50% tuition |
Tech & Innovation Scholarship |
Applicants in tech/innovation fields |
Up to $50,000 |
Donald P. Jacobs International Scholarship |
International students in Two-Year or MMM programs |
Partial tuition support |
Note: You can also take help from our scholarship finder, which will find a scholarship based on your GPA.
There are many scholarship for MBA in USA for Indian students that cover 50% to up to 100% of the complete tuition fees. Most of these scholarships have specific eligibility requirements regarding academic performance, financial need, work experience, age, and sometimes nationality.
1. Stanford Reliance Dhirubhai Fellowship
2. Stanford Knight - Hennessy Scholars Program
3. Social Impact Fellowships - Wharton School of Business
4. Ritchie - Jennings Memorial Scholarship
5. MPOWER MBA Scholarship
6. Meyer Feldberg Distinguished Fellowship Program - Columbia Business School
7. McKinsey Award - MIT Sloan School of Management
8. Inlaks Shivdasani Foundation Scholarships
9. India Trust Fellowship - Booth School of Business
10. Horace W. Goldsmith Fellowship - Harvard Business School
11. Fulbright - Nehru Master’s Fellowships
12. Erasmus Mundus Scholarship
13. Diversity Scholarships - Kellogg School of Management
14. Dean’s Scholarship - Stern School of Business
15. Consortium for Graduate Study in Management Fellowship - Tuck School of Business
Also Read: Scholarships for Indian Students to Study in USA 2025
When you apply for MBA scholarship in USA, you have to follow a specific application process. However, do keep in mind that you need to maintain a high GPA and good GMAT/GRE score, as they play a big role in getting this scholarship:
1. Research about the scholarship that best aligns with your goals and needs.
2. Arrange all the required documents like your academic transcripts, GMAT or GRE scores, resume/CV, letters of recommendation, and financial documents.
3. Create a strong application by writing a compelling essay and getting the required GMAT/GRE score.
4. Submit your application before the deadline.
5. Prepare for an interview if a scholarship provider requests an interview.
Below is a list of all the documents that are required to apply for an MBA scholarship in USA for both national and international students:
· Academic Transcripts
· Standardised Test Scores (GMAT/GRE)
· Personal Statement/Essays
· Proof of Citizenship/Residency
· Work Experience Documentation
· Financial Documents (for need-based scholarships)
· Resume/CV
A scholarship essay plays a big role in the selection process and gives the committees a chance to understand and assess candidates beyond just their academic achievements and qualifications. With essays playing a major role, here are a few tips to write a perfect essay:
1. Plan an outline: Before going in blindly, try to create an outline, brainstorm ideas, and jot down things that you can add. This will help in developing a clear theme and ensuring an easy flow of the essay.
2. Research the Scholarship Provider and Audience: Make sure that before you write the essay, you research the organisation. Once you understand the audience, you will be able to write a better essay.
3. Write a strong introduction: Your introduction needs to capture the attention of the reader, so make sure that you avoid generic statements and try to write an original and engaging beginning.
4. Show why you deserve this scholarship: Lastly, make sure that you express and give reasons why you deserve the scholarship. Try to write about how it can impact your career and academic goals.
Want to Know Which MBA Scholarships Cover Tuition and Living Expenses?
There are a few eligibility criteria when applying for a scholarship for MBA in USA for Indian students. So it is a good practice to start early as an Indian student and even apply to multiple scholarships to increase the chance of securing financial aid. Some of these criteria include:
1. Academic Requirements: A four-year bachelor’s degree with a minimum GPA of 3.0 on a scale of 4.0 or above 70% from a recognised Indian university.
2. Standardised Tests: A strong GMAT score (often 600+ or 720-730 for competitive programs) or GRE score. An IELTS score of 7.5+ or a TOEFL score of around 90-100.
3. Work Experience: A minimum of around 2-3 years of full-time work.
Apart from lowering the tuition burden in a place like the USA, many MBA scholarships can help in:
1. More focus on studies: Many students work to cover their expenses, and scholarships can help them reduce that burden to focus more on their education. Using a course finder can also help you select the right MBA program that fits your goals.
2. Enhanced credibility: Getting an MBA scholarship is a sign of having strong academic and leadership qualities, which can help in attracting employers.
3. Networking opportunities: There are many scholarships programs which also offers networking events and mentorship opportunities. This can help in connecting students with industry experts and alumni.
4. Improved Skills: Since most scholarship applications are highly competitive, they can help in developing essential skills like leadership, communication, and problem-solving.
5. Access to Resources: Many scholarships also provide access to resources like career counselling, professional development workshops, and leadership training.
Pursuing an MBA in the U.S. can be costly for many international students, but the return on investment is often unmatched compared to other countries. With such a strong advantage, going for an MBA Scholarship in USA can play a big role in providing international students, especially Indian students, an opportunity to pursue their goals without worrying about finances.
Above were just a few of the many scholarships that students who are planning to study abroad can get. To know more about such financial aid opportunities, you can connect with our study abroad consultant at Gradding.com. Reach out today!
Ans. Yes, getting a 100% scholarship for an MBA in the USA is possible. But it is comparatively hard to get because it is very competitive and is only awarded to students who have exceptional profiles, a perfect GMAT score of 720+, 3+ years of work experience, a GPA above 3.5/4.0, and a strong leadership potential.
Ans. The main reason why Indian students do their MBA in the USA is that the USA is home to some of the top universities and institutes in the world. It also provides a wide range of in-demand courses and programs, and gives access to better career opportunities with big companies like Google, Amazon, and Microsoft.
Ans. Scholarships, especially in a place like the USA, are very important for international students because they help them get the best education in the world, which they might not have had access to due to financial issues. In addition to this, they also help in offsetting the significantly higher cost of education for international students compared to domestic students.
Ans. When studying in the USA, you can significantly improve your chances of getting a scholarship by targeting multiple scholarships and creating a good overall profile. Another important thing that can help a great deal is maintaining a high GPA and writing a tailored essay for each scholarship.
Ans. While not all, but most of the scholarships in the USA require a separate application process to avail them. But this mainly depends on the type of scholarship you are going for. Most college-specific scholarships might consider you automatically upon applying for admission. Whereas government aid, like the FAFSA or privately offered scholarships, requires individual applications.
Ans. For an MBA scholarship in the USA, the eligibility criteria include a high undergraduate GPA, competitive GMAT or GRE scores (e.g., 700+ GMAT, 320+ GRE), which are frequently considered. In addition to this, a candidate also needs to demonstrate leadership in previous roles or extracurricular activities, and relevant professional work experience (typically within 5 years).
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