GMAT Scholarships for Indian Students: Everything You Need To Know
GMAT
All the students who apply for an international MBA want to try their luck in getting any kind of scholarship. In this article, we will inform you about the GMAT scholarships and MBA scholarships for Indian students. The scholarship can vary from one form to another. However, there are no specific criteria that guarantee a scholarship or financial assistance. Scholarships or grants can be need-based or merit-based and as the opportunities are limited, it is recommended to apply early. From getting a high GMAT score to applying early, there are a lot of criteria that one needs to fulfil to be eligible for a GMAT exam scholarship for pursuing a good MBA program.
What are GMAT Scholarships?
The GMAT scholarships are offered to applicants based on their GMAT scores. Majorly there are three types of MBA scholarships offered by the universities, and they are:
- Merit-based scholarships
- Need-based scholarships
- External scholarships
Students are often confused between merit-based or need-based scholarships. We have simplified this and explained below the difference between both scholarships. Candidates must also be aware of the eligibility and criteria for applying to need-based and merit-based scholarships.
Types of GMAT Scholarships Abroad
Let us discuss in detail about the different types of GMAT scholarships abroad for those planning to avail one based on their GMAT scores.
Merit-based GMAT Scholarships
Merit-based scholarships are granted to students with excellent academic records or students having extraordinary achievements in extracurricular activities or sports. Here, the financial background of a student does not hold much relevance. There are various universities and educational institutes that offer MBA scholarships for Indian students.
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Need-based GMAT Scholarships
Need-based scholarships are given to students with less privileged backgrounds. Students with good academic records but having financial difficulty in meeting their tuition fees for higher education. We have given a list of scholarships for GMAT below offered by top business schools.
Check: Creative Writing scholarships for Indian students
General/External GMAT Scholarships
Many agencies and organizations offer MBA scholarships to students. Many organizations also provide scholarships to MBA graduates. Students should know their GMAT scores for scholarships. Many colleges/universities offer scholarships to MBA aspirants based on their GMAT scores. So, candidates having good GMAT scores are rewarded by B-schools. However, this is not the case with every B-school. Some of the externally offered GMAT scholarships abroad are as follows:
- Tibet Fund
- East-West Center
- Canadian Bureau for International Education
- Hariri Foundation
- Consortium for Graduate Study in Management
- Harvey Fellows Program
- Institute of International Education
MBA Scholarships at Top Business Schools
Below are some of the scholarships and fellowships offered by top business schools globally to international Indian students.
| Top B-Schools |
Type and name of Scholarships |
|---|---|
| Need-based fellowships |
|
| The McGowan Fellowship Fund |
|
|
|
| Need-based fellowships |
|
| Need-based fellowships |
|
| Need-based fellowships |
|
| Oxford & Cambridge Society of India |
OCSI Scholarship for Indian Students |
| Need-based fellowships |
|
| Need-based fellowships |
Top GMAT Scholarships for International Students
Some of the top B-schools offering different types of scholarships for international and Indian students:
Stanford Graduate School of Business
The Stanford Reliance Dhirubhai Fellowship: It is awarded to up to five students and covers the tuition and fees for the two-year program. Within two years of pursuing the MBA at the Stanford Graduate School of Business, the beneficiaries are required to return to India for two years and work for an Indian organization.
Wharton School of Business
- Emerging Economy Fellowships: As the name suggests, this scholarship is designed for talented students from emerging economies. Students who are admitted to the Wharton MBA program are automatically considered for this scholarship. It includes funding for the two-year MBA program.
- Social Impact Fellowships: Students need to showcase leadership in non-profit organizations. It strengthens the leadership, operational and strategic skills of the graduates and undergraduate students. This program aims to make a positive impact in the world.
- Joseph Wharton Fellowships: This scholarship is named after the founder of the Wharton School of Business, i.e., Joseph Wharton. All students who got admitted to the B-school of the University of Pennsylvania are eligible for this scholarship. It is awarded to students with exemplary professional, personal, and academic records.
Booth School of Business
- The Zonis Fellowship: It is awarded to students from emerging economies. Students who have achieved excellent academic, extracurricular, and leadership achievements are eligible for this fellowship.
- Akhtar Ali H. Tobaccowala Fellowship: Those students who want to pursue a full-time MBA program from the Chicago Booth School of Business and are based in India are awarded this fellowship. This scholarship was created for Indian students after a donation of $1 million by the Tobaccowala Foundation.
Harvard Business School
- Horace W. Goldsmith Fellowship: This scholarship was established in 1988 by Horace W. Goldsmith. The recipients of this scholarship should have worked in a non-profit organization before applying for this fellowship. It is awarded to 7-10 students who are willing to join the non-profit sector after completing their studies at Harvard Business School. The $10,000 fellowship is given to the first-year MBA students at Harvard University.
- The Robert S. Kaplan Life Sciences Fellowship: It is awarded to ten students who want to work in the life sciences. The $20,000 scholarship is given at the time of admission, preferably to students who want to work in a science-related organization.
- HBS Fellowship Programs: It is a need-based fellowship awarded to aspirants who have minimal financial resources to pursue higher education.
Haas School of Business
- Dr. Tahir Fellowships: The $40,000 scholarship is preferably awarded to students who completed their undergraduate studies in Asia and are now planning to pursue a full-time MBA from Haas Business School.
Apart from these there is also The Amsterdam Business School offers scholarships based on high GMAT scores, with amounts up to €12,000 for the highest scores. Check out the complete list of scholarships available for international and Indian students.
Eligibility Criteria for GMAT Scholarship
A variety of GMAT scholarships are available for Indian and international applicants. However the key to getting a scholarship for GMAT solely depends upon multiple factors that form a part of the eligibility criteria. Check out the eligibility criteria for GMAT scholarships below for reference:
- Any score of 655 or above is considered a good GMAT score which can help applicants bag a GMAT-based scholarship.
- Since the GMAT scholarship is merit-based, it is essential that along with GMAT scores, applicants must also show exemplary academic performance and high GPA score as well.
- Those who also score higher than average on GMAT to compensate for a weaker academic background can still be eligible for a GMAT scholarship.
- Finally, universities abroad may automatically consider applicants for a GMAT scholarship so applicants should focus on getting a goog GMAT score along with GPA score.
GMAT Score: Not the Sole Determinant for Scholarships
Students with average or low GMAT scores can also hope to get a scholarship, depending on he/she must have something concrete to showcase to the admissions committee. The low GMAT score can be compensated with any achievement in sports or any extracurricular activity or anything impressive which sets the candidate apart from other applicants. Students generally have a perception that getting a 750 GMAT score or higher is enough to win a scholarship. However, getting a scholarship based on a GMAT score may not be possible as schools look at the bigger picture and give consideration to the complete profile of the candidate.
Students should also have a holistic approach while applying to top B-schools and they must give importance to their profile building as well. Even after fulfilling all the requirements and getting a 750 GMAT score, the scholarship is not guaranteed because of the stiff competition. Getting a high GMAT score also does not guarantee a scholarship at a top MBA program. However, an excellent work profile and a plethora of skills and achievements can always give you an upper hand over other aspirants.
Also, one of the most common mistakes students commit is that students treat the scholarship deadline the same as the admission deadline. Moreover, there are numerous GMAT scholarships available for international students, and requirements for all these vary. Students should always search the institutes or colleges to which they are applying for their specific set of requirements for gaining financial aid. Before applying for a scholarship, one should always check the eligibility criteria.
Quick Links:
Q: Who is eligible for GMAT exam?
Q: My graduation score 50% below percentage and GMAT good score. Can I apply for MBA abroad.
A graduation score of less than 50% might post minor challenges. However, you may be able to offset it with a strong GMAT score and quality of your application documents. A minimal percentage or grade point average (GPA) in undergraduate studies is typically required for admission to most MBA programmes, both in India and overseas. The majority of the time, admissions committees take into account a variety of characteristics, such as academic achievement, professional experience, leadership potential, and other credentials.
Nevertheless, it is crucial to remember that each MBA programme has its own unique entrance requirements, and some may be more flexible than others. Research the MBA programmes you are interested in and get in touch with them personally to learn about their exact qualifying requirements and whether they accept students with lower GPAs.
You could also want to take into account other elements that can improve your application, like relevant work experience, professional accomplishments, leadership roles, and excellent letters of recommendation. These components might show your potential and make up for a lower graduation grade.
Q: What rank is Wolverhampton University in UK?
The University of Wolverhampton is one of the best universities in the United Kingdom. The university is consistently ranked among the best universities nationally and globally. For nearly 200 years, the University of Wolverhampton has been consistently providing a quality of education to students and producing highly skilled graduates. The national rankings of the University of Wolverhampton are given below:
| Ranking Body | Ranking |
|---|---|
| The Guardian University Guide 2024 | #101 |
| The Complete University Guide 2024 | #117 |
Q: Is university of West of Scotland good for international students?
The University of the West of Scotland has five modern and diverse campuses in United Kingdom. The University has welcomed more than 3,000 international students which are representing 1/3 of the globe. They also have 130 European partners who are actively in global study and exchange options through the Commonwealth universities programmes. The University also offers study abroad opportunities for UWS who are eligible for the same and also have more than 20 transnational education partners worldwide which helps them deliver UWS Bachelors and Masters Degrees around the world.
Q: Is Hertfordshire University hard to get into?
With a 70% acceptance rate, the University of Hertfordshire is not hard to get into and follows easy selection criteria during admissions. This does not mean the university accepts all the students applying for different programs. The selection is based on academic performance, English language requirements, references, and many more. Some of the programs at Hertfordshire even demand an experience of 4-5 years. Students must fulfill the eligibility criteria to enroll in any programme at Hertfordshire University. In addition, students with average performance can showcase their relevant experience or extracurricular activities participation to increase their selection probability.
Q: Does the University of Essex require IELTS?
International students whose native language is not English must meet the University of Essex English language requirements to get admission. The university accepts IELTS scores as proof of English language proficiency. Mentioned below are the IELTS scores required for UG and PG admission at the university:
English Language Test | Score |
|---|---|
IELTS | Overall score of 5.5 to 8.0 with minimum of 5.5 to 7.5 in each section |
The university also accepts the score of other English language tests such as TOEFL and PTE for admission to undergraduate and graduate programs:
English Language Test | Score |
TOEFL iBT | Overall score of 72 to 114 |
PTE | Overall score of 59 to 84 with minimum of 59 to 80 in each section |
Also read: Required IELTS Score for UK Universities
Q: How can I get admission in the University of Manchester?
The application process at the University of Manchester may vary depending on the course and level of study. However, here is the application process for UG and PG courses:
The Undergraduate Application Process:
Step 1: You can apply through the UCAS common application portal.
Step 2: Go to the website and select the course you are interested in.
Step 3: Ensure you meet the Entry requirements (Academic qualifications, English proficiency, etc.
Step 4: Once you decide on the course, submit documents such as SOP, Transcripts and personal statements.
Check out: tips to improve your SOP.
Step 5: You can track the application's progress through your given credentials by UCAS.
Step 6: Once the applicant submits the application to UCAS, it forwards to the University, and the admission teams carefully analyse the application document.
Step 7: The university will send you an offer letter once selected. Hence keep checking your UCAS portal for your application status.
The Postgraduate application process:
Step 1: Select the postgraduate course you are interested in from the University of Manchester.\
Step 2: Ensure you meet the entry requirements for the chosen program, as they vary depending on the course.
Step 3: Complete the online application by providing your personal information.
Step 4: Upload the required documents, such as Academic transcripts and proof of English language proficiency ( TOEFL/ IELTS). experience in your fields and references (depending on the course). You also may require Two LORs depending on the course.
To make your admission better, check out the following: How Admission Officers Evaluate your application.
Step 5: If your application is successful, you will receive an offer from the University of Manchester.
Q: What is the academic eligibility criteria to take GMAT exam?
In terms of academic requirements for taking the GMAT, we find that GMAC, the organisation responsible for administering the test, has not formally established any standards. As a result, candidates are not required to have a specific educational background or degree to take the GMAT. However, the bulk of GMAT exam takers are working professionals or undergraduate students in their last year who want to continue in a management school. Candidates who do not fit under this category are nonetheless permitted to take the exam.
GMAT Scholarships for Indian Students FAQs
Q. What is the required GMAT score for Harvard scholarship?
A. The Harvard Business School is an extremely selective unit to get into and naturally, getting a scholarship is also competitive. You must secure a GMAT score above 750 in order to be eligible for Harvard Business School merit-based scholarships. Apart from the GMAT score, Harvard takes a holistic approach while granting financial aid to students. Some of the factors that you should be mindful are academic achievements, work experience, leadership skills, extracurricular activities, and more.
Q. Can I get 100% scholarship through GMAT?
A. Yes, it is possible to get 100% scholarship through GMAT if you get a score above 750. However, you cannot get a 100% GMAT exam scholarship by getting a good score alone. You must have an excellent work profile and a plethora of skills and achievements, or any achievement in sports or any extracurricular activity or anything impressive which helps you stand out among other applicants.
Q. How much should I score in GMAT to get a scholarship?
On a usual basis, securing a GMAT score above 750 will get you a top GMAT scholarship for Indian students. However, even if you have a low GMAT score, you can get a GMAT exam scholarship if you have unique experiences and talent to showcase in your portfolio. Your low GMAT score can be compensated with any achievement in sports or any extracurricular activity or anything impressive which sets you apart from other applicants.
When it comes to the top MBA colleges abroad, they take a holistic approach. This means that a scholarship for GMAT is not guaranteed even if you score 750 above in GMAT. You must have an excellent work profile and a plethora of skills and achievements can always give you an upper hand over other aspirants, as the top B-schools give importance to your profile building as well.
Q. Is scoring high on GMAT an important aspect for getting scholarship?
A. No, GMAT scores is not the deciding factor for obtaining a scholarship. Rather all components are included to assess if the applicant is worthy of qualifying for a scholarship, like:
- Academic background
- Consistent performance
- Research background
- Initiatives taken for community or social work and other projects
- Enthusiasm for bringing a change
Q. Is Stanford Reliance Dhirubhai Fellowship a GMAT based scholarship?
A. The Stanford Reliance Dhirubhai Fellowship is basically for those Indian applicants who would return to Indian after their MBA. While GMAT can be a deciding factor for awarding the fellowship but it is not the sole factors for awards. There are other major deciding factors as well - academic background, financial need, leadership qualities, skills, work experience, and overall profile. Thus the criteria is not clear but the fellowship will be based on the overall application and not just on the basis of GMAT scores.
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Comments
(10)
C
4 years ago
P
4 years ago
Dear Charchil, usually good universities prefer candidates to have relevant work experience before pursuing MBA. Please refer to the below link and learn how to get a scholarship: https://studyabroad.shiksha.com/how-to-get-a-scholarship-to-study-abroad-articlepage-1158
M
5 years ago
S
4 years ago
S
5 years ago
S
5 years ago
5 years ago
Hi Purvi, you can check the following options https://studyabroad.shiksha.com/mba-in-abroad-dc11508?country=malaysia-russia-uae Also, use the filter to check other country options and go through the fee structure and narrow down your choice accordingly.
Irrespective of the educational background, completion of high school or not, applicants are eligible to appear for the GMAT exam. However, those applicants will be eligible for GMAT, those who:
If these criteria are fulfilled, applicants are eligible to take the GMAT exam.