MBA scholarships for Indian students

December 31st, 2021 by Sagnik Santra

mba scholarships for indian students

MBA or Masters in Business Administration is one of the most popular courses among Indian students. The course opens up many opportunities for students and helps them in their career growth. However, pursuing an MBA degree can be costly, and not everyone can afford it. And if you are planning for an MBA from a foreign university, the cost can be even more.

Your dream of studying in a foreign university can come true if you win an MBA scholarship. Several universities provide excellent MBA scholarships for deserving candidates. The scholarship amount varies with the institute and country where you plan to study. It also depends on your academic records, work experience, extra-curricular activities, community service, and other achievements.

In this article, we will be discussing some of the top MBA scholarships for Indian students. So if you are planning to make your dreams come true with a foreign MBA degree, keep on reading.

What is an MBA scholarship anyway?

An MBA scholarship is an award given to students in the form of financial aid to pursue a particular MBA program. The scholarship money usually comes from the university itself, private organizations, and donors. It may be in the form of a tuition fee waiver, partial or full tuition fee waiver, monthly allowance, living expenses allowance, etc.

If you are awarded an MBA scholarship, your college or university will waive off a certain percentage or all of your tuition fees. You may also get a monthly allowance to cover your living expenses in some cases.

Different types of MBA Scholarships

mba scholarships for indian students

There are several types of MBA scholarships that you can apply for. The most common ones are:

1. Merit-based scholarships

These scholarships are awarded to students based on their academic merits. The selection committee looks at your academic transcripts, GRE or GMAT scores, work experience, and other achievements.

2. Need-based scholarships

These scholarships are awarded to students who cannot afford to pay for their MBA education. The selection committee looks at your financial need and awards the scholarship based on that. You may get a full or partial scholarship, depending on your need.

3. Diversity and Gender-based Scholarships

Several universities offer scholarships to underrepresented minorities and women. The diversity scholarship is often awarded to students of a particular race, gender, ethnicity, or nationality. You may get a full or partial scholarship if you are a woman or belong to a minority group.

4. External Scholarships

External organizations and private donors offer these scholarships. They usually have their own eligibility criteria and application process. You can apply for these scholarships if you meet the minimum eligibility criteria.

Top international business schools for Indian students

mba scholarships for indian students

Now that we know a little about MBA scholarships let us look at some of the top international business schools for Indian students.

1. Harvard University (U.S.)

Harvard Business School is one of the most reputed universities for MBA study globally. Harvard University provides scholarships under different categories, including gender, age, need-based, etc. The university has a dedicated scholarship search tool to help you find the best scholarships suited to your profile.

2. Stanford University (U.S.)

Stanford University is known to be one of the best universities in the world for an MBA degree. It is one of those rare universities that teaches its students to think differently and creatively to bring about remarkable changes in the corporate world. This university has a dedicated financial aid program for international students. You will find full or partial scholarships and non-scholarship options under this program.

3. University of Toronto (Canada)

Canada is a popular destination for Indian students when pursuing an MBA. The University of Toronto is one of the best colleges in the world and offers different MBA courses to international students. It also has scholarship programs to support international students financially.

4. INSEAD (France)

INSEAD is a world-renowned business school that offers MBA and executive education programs. It has campuses in Europe, Asia, and the Middle East. The school offers a wide range of scholarships to its students, including merit-based, need-based, and diversity scholarships.

5. University of Melbourne (Australia)

If you are planning to pursue MBA in Australia, you can consider the University of Melbourne. It is one of the oldest and reputed universities in Australia. The university has consistently ranked among this country’s top universities and offers some of the most popular MBA scholarships.

6. London Business School (UK)

The London Business School is one of the most prestigious business schools globally. It offers a wide range of MBA programs and scholarships to international students. The school has a dedicated financial aid office that can help you find the right scholarship for your needs.

7. University of Oxford

When we talk about top MBA schools in the world, it is impossible to ignore the University of Oxford. The university offers a wide range of scholarships to international students and ranks among the best universities for an MBA degree. It also has multiple courses and programs to choose from.

8. University of Mannheim (Germany)

Germany is one of the cheapest yet most popular destinations for Indian students to pursue an MBA abroad. The University of Mannheim is a public research university that offers international scholarships for students from all around the world. You can apply for different scholarships offered by this university if you meet the eligibility criteria.

Top MBA scholarships for Indian students

mba scholarships for indian students

We have listed out some popular MBA scholarships for Indian students. This list will help you find the right scholarship program according to your profile and needs.

1. Harvard University Boustany Foundation MBA Scholarship

This scholarship is for Indian students who want to pursue their MBA at Harvard University. The scholarship covers the entire tuition fees for two years and includes a stipend for living expenses.

2. Oxford Pershing Square Scholarship

This is one of the most prestigious MBA scholarships for Indian students. The scholarship is awarded to students with an excellent academic background and strong communication skills. It covers full tuition fees, living expenses, books, health insurance, etc.

3. Stanford Reliance Dhirubhai Fellowship

This scholarship is for students who want to pursue their MBA at Stanford Graduate School of Business. The Reliance Group of Industries offers this prestigious scholarship. The scholarship covers both full and partial tuition fees for two years.

4. IUBH Online MBA Scholarship

IUBH is a German business school that offers a wide range of MBA scholarships for international students. As an Indian student, you can apply for different scholarship programs offered by this university if you have the required academic background and work experience.

5. Global MBA Scholarships for Women-University of London

The University of London offers prestigious MBA scholarships exclusively for women students. Many scholarships are offered each year, and this program is one of India’s most popular scholarship programs.

6. IBA International Scholarship Programme

If you want to pursue an MBA at the Institute of Business Administration (IBA), Karachi, you can get this scholarship. The scholarship is offered to international students with excellent academic backgrounds and wants to study in a Pakistani university.

7. British Chevening Scholarships in the UK for International Students

If you want to study in the UK, you can apply for this scholarship. The UK government offers the British Chevening Scholarships to international students who wish to pursue a full-time postgraduate degree at any UK university.

8. McKinsey Emerging Scholars Program

The McKinsey Emerging Scholars Program is a scholarship program for students who want to pursue their MBA at any business school worldwide. The scholarship is offered to students who have an excellent academic background and demonstrate leadership potential.

A few things to consider before applying for an MBA scholarship

mba scholarships for indian students

Even though there are many scholarships available, you can’t apply for all of them. Therefore, it is best to find one according to your profile and needs. Here are some points to consider before applying for any scholarship.

1. Eligibility criteria:

Before applying, check the eligibility criteria given by the university. Some scholarships are only for students pursuing their first MBA degree, while others offer to fund students who have already completed their first MBA. If you don’t meet the criteria, there is no point in applying.

2. Location

Some scholarships are only for students who want to study in a particular country or city. For example, the Oxford Pershing Square Scholarship is only for students who wish to pursue their MBA at Oxford University in the UK. So make sure to check the location of the university before applying.

3. Duration

If you already have an MBA degree, it is best to check if the scholarship is for one year or more. If you are currently pursuing your first MBA and want to work after graduation, then apply for a short-term scholarship program to gain the experience.

4. Deadlines

MBA scholarships are offered during different times of the year, so you need to check all of them and apply accordingly. Some deadlines may be very close to each other, so it is best to know which one suits you the most before applying for any scholarship. Check out our MBA Scholarship section to learn more about different scholarships for Indian students.

5. Apply for multiple scholarships at once

Yes, you can apply for more than one scholarship at the same time. If you apply for multiple scholarships, then you are increasing your chance of getting one. So keep all the documents ready, including your CV, academic transcripts, and reference letters before applying for any scholarship.

6. Maintain a good GPA

For international students, maintaining a good cumulative GPA is mandatory to apply for MBA scholarships in India or abroad. It will not only increase your chances of getting a scholarship but also help you secure a seat in the best business schools.

Final thoughts

MBA scholarships are a great way to finance your education. Make sure to do your research well and find the best scholarship for you. Make sure to do your research and find the best scholarship for you.


Can You Get a Student Loan to Study Abroad?

December 29th, 2021 by Sagnik Santra

can you get a student loan to study abroad

The short answer to the question is: yes. The simple fact is that studying abroad can be costly, and most students do not have the money to pay in full. For this reason, most people will look into student loans as a possible option for paying for school expenses.

Since study abroad is an official academic program set up by your school, your student loan can be used to cover any of the associated costs. This could include airfare, room and board, tuition, and other related expenses. Studying abroad brings a lot of opportunities with it and should not be hindered by financial limitations.

You should keep in mind a few things if you are thinking about using student loans to finance your education abroad. Let’s explore what you need to know in a little more depth.

Why do you need student loans to study abroad anyway?

As we mentioned earlier, studying abroad can be an expensive venture. Some students will have the resources to come up with a large sum of money, but most will not. For this reason, students need to look into student loans as a possible option when it comes time to pay their way through school.

If you want to study in developed countries like the U.S. and UK, it is not surprising that the tuition fees are expensive. Even the living cost can be very high in these countries. For example, the tuition costs for studying at Harvard is $38,891 per year, while Oxford University’s one-year course fee is around the £18,000 mark (more than $29,000).

Therefore, it makes sense to look into student loans as a possible option if you want to study abroad in such countries.

Different types of student loans?

There are two types of student loans – Federal Student Loans and Private Loans.

1. Federal Student Loans:

Federal loans are the loans that are offered and regulated by the United States Department of Education. These loans are typically offered to students who cannot afford to pay out-of-pocket for their education and living expenses. Federal loans are usually offered at a lower interest rate than private student loans.

2. Private Student Loans:

Private loans are offered by private lenders, such as banks and credit unions. These loans usually have a higher interest rate than federal loans, and they also come with a range of fees. The United States Department of Education does not regulate private loans. They are controlled mainly by private organizations like banks and credit unions.

Federal Student Loans vs. Private Student Loans

can you get a student loan to study abroad

When it comes to comparing Federal Loans and Private Loans, here are some of the differences between them.

1. Interest rates:

Typically, private loans have a higher interest rate than federal loans. The interest rates vary from 3% to 12%, depending on the borrower’s credit score, among other factors. Federal Loans are offered at an interest rate that the government determines. The current interest rate for Federal Loans is 4.29%.

2. Fees:

Private lenders usually have a range of fees, which can include an origination fee, a late payment fee, and a prepayment penalty. Federal loans do not come with any origination fees, late payment fees, or prepayment penalties, as they are considered non-profit loans.

3. Cosigners:

Private student loans typically require a cosigner. A cosigner is a person who agrees to be responsible for the loan if the borrower cannot repay it. And if you are applying for study abroad loans, it is essential to have a cosigner with a good credit score unless you are lucky enough to be approved for a loan without a cosigner. Federal loans do not require a cosigner.

4. Repayment options:

Private lenders typically offer a range of repayment options, including deferred payment, interest-only payments, and graduated repayment.

5. Eligibility criteria:

Federal loans do not have any eligibility criteria for income level or geographic location. They are not affected by the ability of the student to repay the loan or find a job after graduation. They mostly look into students’ academic history and credit scores. On the other hand, private student loans have very stringent eligibility criteria that are based on the credit score of the borrower and cosigner, as well as the borrower’s income level.

6. Loan amount:

Private international student loans usually offer a higher loan amount than federal loans when it comes to the loan amount. The annual limit for Undergraduate students is $12,000-$15,000 and $55,000-$60,000 total in federal loans. Graduate students can borrow up to $20,000-$22,000 annually and $135,000-$ 140,000 total. When it comes to private students loan borrowing, you can almost double the loan amount.

7. Default:

One of the most significant differences between a private student loan and a federal student loan is that personal loans typically have stricter repayment options if the borrower defaults on the loan payments. In the case of Federal Loans, there are no such repayment options, and the government can even garnish the borrower’s wages.

Which type of student loan should you get?

can you get a student loan to study abroad

Now that you know some of the differences between Federal Loans and Private Loans, it is essential to decide which type of loan is best for you. Private loans can be expensive and come with a lot of fees. Also, if you default on repayment, private lenders have more stringent repayment options. If you want to save money on interest rates and smaller or no fees, federal loans are the way to go.

However, keep in mind that there are stringent eligibility criteria for federal loans compared to private student loans. You must have a good credit score and meet the income level requirements. So, if you want to study abroad and do not have a perfect credit score or do not meet the income level requirements, you might want to consider getting a study abroad loan from a private lender. A cosigner with a good credit score can help you get a better interest rate as well.

Can I take both Federal and Private Loans to Study Abroad?

Yes. You can take both federal loans and private loans to study abroad. However, remember that you need to have a cosigner for any private loans you want to take, as they have stringent eligibility criteria.

As we mentioned before, federal loans only offer a limited amount of money for students studying abroad. And sometimes that amount is not enough. So, in that case, you can take a study abroad loan from a private lender. For example, you can use the federal loan towards your tuition fee and the private loan towards the living costs.

What should you consider before taking a study abroad student loan?

can you get a student loan to study abroad

Before taking a study abroad student loan, there are a few things to consider. If you are not sure whether it is the right decision for you, here are a couple of points that can help you make that decision:

1. Double check if you qualify for any scholarship, financial aid, or grant for studying abroad.

2. Make sure that you understand your private student loan repayment options.

3. Make sure to read all the terms and conditions of your loan before signing on the dotted line. Please do not take it lightly!

4. Increase your credit score so that you can increase your chances of getting a reasonable interest rate on your student loan.

5. Make sure that you do not borrow any more money than you need to study abroad.

6. Do not think of a study loan as a free ride to have fun during your stay overseas. You still have to pay it back with interest!

Conclusion:

Studying abroad is the dream of millions of students around the world. But the costs associated with studying abroad make it difficult for students to fulfill their dreams. If you are one of those students, getting a student loan is the key to making your dream a reality. This article will help you understand everything you need to know about getting a student loan to study abroad.


Engineering Scholarships for College Students

December 7th, 2021 by Al C

man in blue long sleeve shirt holding woman in gray sweater

Getting an engineering degree is the dream of millions of future engineering students and high school students. A good engineering degree offers a good sum of money and the opportunity to work in the best companies around. It makes it very attractive for college students who want to pursue a secure and well-paid career.

The best of engineering is that there are a lot of streams to choose from such as civil engineering, mechanical engineering, chemical engineering, computer engineering, and so on. So, a lot of students who have diverse interests can find their best fit within this field.

However, the cost to study for an engineering degree can be very high. So, it is very important that you think about getting an engineering scholarship to lower the cost of your degree and accomplish your career dreams at a faster pace. In this article, we will be discussing the importance of engineering scholarships and how to get one.

What is an Engineering Scholarship?

An engineering scholarship is a financial aid that is offered to students who are studying engineering. The scholarship can be in the form of a tuition waiver, money, or a combination of both.

The scholarships are offered by different organizations such as universities, colleges, private companies, and government organizations. The scholarships can be for any level of students, from undergraduate to postgraduate students. The scholarships are also offered for different streams of engineering, such as civil engineering, mechanical engineering, electrical engineering, and so on.

Importance of Engineering Scholarships

woman in blue long sleeve shirt sitting beside man in blue dress shirt

There are many reasons why you should consider getting an engineering scholarship. Some of the most important reasons are

1. The scholarship reduces the cost of your degree

One of the biggest reasons why you should get a scholarship is that it can reduce the cost of your engineering degree. It can even make it completely free. Many engineering scholarships offer a full tuition waiver, which means that you don’t have to pay any money for studying at the university. This will significantly lower your expenses and allow you to save a lot of money, which you can use for other things such as traveling or buying a car.

2. The scholarship boosts your career prospects

Another important reason to get a scholarship is that it boosts your career prospects. Many companies have a great interest in students who can graduate without having any student debt. This means that you will be more likely to get a job offer from these companies because they know that they don’t have to worry about paying off your student loans.

3. Getting a scholarship shows how bright you are

One of the main reasons why universities offer scholarships is to attract bright students. This means that by getting a scholarship, you will be showing the university that you are an intelligent and talented student. This can give you an advantage over other students when it comes to getting admission into a good engineering school.

Engineering Scholarships for Undergraduate and Graduate Students

man in blue dress shirt and woman in black long sleeve shirt

There are different scholarships that are available for both undergraduate and graduate students. Here are some of the most popular scholarships that are available

1. ASCO Engineering Scholarship Program

The American Society of Civil Engineers is one of the most prestigious engineering organizations in the world. They offer a scholarship that they call the ASCO Engineering Scholarship Program. Under this program, $5,000 scholarships will be awarded to deserving students.

2. ASHRAE Society Scholarship Program

The American Society of Heating, Refrigerating, and Air-Conditioning Engineers offer a scholarship program that is open to undergraduate and graduate students. The scholarship offers $2,500 to the students who are chosen. The scholarship offers both for your financial and personal growth needs. You will need a 3.0 GPA and you have to be among the top 30% of students to be eligible for this scholarship.

3. Auxiliary Legacy Scholarship

This scholarship is offered by the American Society of Mechanical Engineers and is open to undergraduate students. The scholarship offers $3,000 to the students who are chosen. The scholarship is for students who have a 3.0 GPA or higher and who are majoring in mechanical engineering

4. Donald and Barbara Mozley Scholarship For Graduate Students

The Donald and Barbara Mozley Scholarship is offered by the National Society of Professional Engineers. Eligible students can get up to $5,000 per year to pay for their college expenses. You have to be a high school senior or a graduate student with a 3.5 GPA or higher to be eligible for this scholarship.

5. Edward D. Hendrickson/SAE Engineering Scholarship

The Edward D. Hendrickson/SAE Engineering Scholarship is one of the most prestigious scholarships that are offered by the Society of Automotive Engineers. Under this scholarship, students can be rewarded up to $20,000 for their college expenses. The scholarship is open to undergraduate and graduate students who are majoring in automotive or aerospace engineering.

6. IEEE Power & Energy Scholarship

The IEEE Power & Energy Scholarship is offered by the IEEE Power & Energy Society. This scholarship is open to both undergraduate and graduate students who are majoring in power engineering, electrical engineering, and other related fields. The scholarship offers $3,000 to the students who are chosen.

7. SAE Engineering Scholarship

The SAE Engineering Scholarship is offered by the Society of Automotive Engineers. This scholarship is open to undergraduate and graduate students who are majoring in automotive or aerospace engineering. The scholarship offers $2,500 to the students who are chosen. You have to be among the top 20% of students at your university to be eligible for this scholarship.

8. SAE Mechanical Engineering Scholarship

The Society of Automotive Engineers also offers a scholarship program open to undergraduate and graduate students who are majoring in mechanical engineering. The scholarship offers $2,500 to the students who are chosen. You have to be among the top 20% of students at your university to be eligible for this scholarship.

Engineering Scholarships for International Students

woman in blue long sleeve shirt wearing black framed eyeglasses

International students also have the opportunity to get scholarships for studying abroad. Here are some of the best Engineering scholarships that are available.

1. Arkwright Engineering Scholarships 

This UK-based scholarship is open to students who are studying an engineering-related course at a UK University. They have been offering scholarships to students for more than 30 years. Eligible students can be offered for their entire or partial college expenses.

2. Bernard M. Gordon Prize

The Bernard M. Gordon Prize is awarded by the National Academy of Engineering to graduate students who are studying engineering for more than 5 years already. The scholarship offers $15,000 to each student annually. Eligible students must have an outstanding research career and offer promising solutions to problems that need quick responses. You must be among the top 5% of your graduating class to be eligible for this scholarship.

3. David and Lucile Packard Foundation Scholarship

This scholarship is offered by the David and Lucile Packard Foundation for undergraduate students who are planning to study science, technology, or engineering. The scholarship offers $5,000 per year to the students who are chosen. Eligible students must have a high GPA and financial needs.

4. ExxonMobil Bernard Harris Math and Science Scholarships

The ExxonMobil Bernard Harris Math and Science Scholarships are offered by the Exxon Mobil Corporation in order to encourage African-American students to study math, science, or engineering in college. Under this scholarship program, up to 300 students can be awarded $10,000 per year. The scholarship is open to high school seniors and college freshmen who are majoring in math, science, or engineering.

5. Gates Cambridge Scholarships

The Gates Cambridge Scholarship is one of the most prestigious scholarships that are offered by the University of Cambridge. This scholarship is open to students who want to study at the University of Cambridge. The scholarship offers up to $5,000 for each student annually. Eligible students are those with outstanding academic records and future leaders who have the potential to make a difference in their communities back home.

A Few Tips to Apply for Engineering Scholarships

woman in blue and white plaid shirt

Applying for scholarships can be a daunting task, but with the right tips, you can make the process a lot easier. Here are some tips that will help you during your scholarship application process.

1. Make a List of Your Achievements

One of the best ways to make your scholarship application stand out is by listing your achievements. Think about all the awards, leadership positions, and notable accomplishments that you have received so far. Also, list down your relevant skills and experience to strengthen your application.

2. Check Scholarship Requirements Carefully

It is also important to check if there are special requirements for your chosen engineering scholarship. Make sure that you meet all the eligibility requirements before you start applying. This will save you time and effort in the long run.

3. Start Your Scholarship Essay Early

The scholarship essay is one of the most important parts of your application. Make sure to start drafting it early so that you can revise it multiple times. The essay should highlight your achievements, experiences, and reasons for wanting to study at your chosen university.

4. Work hard on your academic performance

One of the main requirements for most scholarships is a high GPA. So applicants must focus on their academics and get good grades. If your grades are high enough, your 80% job is already done. Now you just have to work on the other parts of your application.

5. Be confident

You might feel nervous about applying for scholarships, but you should always be confident during the process. Remember that you deserve to win a scholarship because you are academically smart and motivated. If you believe in yourself, others will also believe in you too!


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