GMAT Scholarships for Indian Students at Top International Universities 2024
GMAT scholarships for Indian students are crucial for reducing financial burden while pursuing an MBA. Know the notable GMAT scholarships for Indian students offered by different universities.
Shivani Kumari6 May, 2024
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GMAT Scholarships for Indian Students: Pursuing an MBA from international universities requires significant monetary expenses. Financial constraints often pose a significant barrier to attending business school. Therefore, almost every candidate who aims for an MBA overseas tries to get a scholarship that can cover their educational expenses.
Various universities and financial institutions offer assistance in the form of loans and scholarships to deserving candidates. While education loans may involve high interest rates and extended repayment periods, scholarships present a more favourable option. In this article, candidates are presented with a range of GMAT scholarships for Indian students.Also Read: GMAT Syllabus 2024
What are GMAT Scholarships for Indian Students?
Educational institutions offer grants and MBA scholarships based on either merit or financial need of students. These grants are financial assistance that covers candidates' education expenses during the MBA course. Similar to the MBA scholarships, numerous universities offering a variety of management courses extend scholarships based on candidates' GMAT scores, referred to as GMAT scholarships. These programs may cover all or part of a student's tuition fees. However, achieving a notable score on the GMAT is necessary to qualify for these benefits.Types of GMAT Scholarships for Indian Students
There are primarily three categories of GMAT MBA Scholarships: Need-based Scholarships, Merit-based Scholarships, and General/External Scholarships. The specific requirements for these scholarships may vary depending on the MBA programs and institutions chosen by candidates for their MBA studies.The following points provide an overview of each of the GMAT scholarships:
Need-based Scholarships
These are awarded to candidates belonging to less privileged backgrounds who possess excellent academic qualifications. Top business schools in the USA, such as Harvard and Stanford, offer need-based GMAT scholarships to Indian students. The following are the most recognised need-based scholarships in the US for Indian students:- Stanford Reliance Dhirubhai Fellowship
- Charles P. Bonini Partnership for Diversity Fellowship (Stanford)
Merit-based Scholarships
Merit-based scholarships for GMAT are awarded to candidates with outstanding academic records. Candidates who excel in extracurricular activities during the academic years are also eligible for these scholarships. These scholarships are typically granted to candidates with high GMAT scores, irrespective of their financial background. Some examples of such scholarships based on GMAT scores include the following:| B-Schools | GMAT Scholarships |
| London Business School | B.K. Birla MBA Scholarship |
| UC Berkeley Haas School of Management | Tahir Fellowship |
| Kellogg School of Management | Kellogg Scholarship |
| Chicago Booth School of Business | George J. Stigler Fellowship |
General/External Scholarships
General or external scholarships based on GMAT scores are provided by various MBA agencies and organisations. These scholarships are also extended to MBA graduates by many organisations. Many colleges and universities offer GMAT scholarships to MBA aspirants based on their GMAT scores. However, this requirement may not be applicable to every business school. Some examples of GMAT scholarships offered by external organisations are as follows:- Tibet Fund
- Harvey Fellows Program
- East-West Center
- Institute of International Education
- Hariri Foundation
- Consortium for Graduate Study in Management
- Canadian Bureau for International Education
College-Wise GMAT Scholarships for Indian Students
Scholarships based on GMAT scores are awarded on the basis of merit, extracurricular involvement, and GMAT scores. A higher GMAT score generally enhances candidates' chances of getting such scholarships. Most candidates who achieve a GMAT score of 730 or higher are able to secure admission to top business schools and also qualify for the scholarships offered there. The table below provides a detailed list of GMAT scholarships offered to assist Indian students in pursuing an MBA from international business schools:| Business Schools | GMAT Scholarships |
| Wharton School of Business | Joseph Wharton Fellowship Emerging Economy Fellowship Social Impact Fellowship |
| Stanford Graduate School of Business | Stanford Reliance Dhirubhai Fellowship |
| Harvard Business School | Horace W.Goldsmith Fellowship HBS Fellowship Program |
| Booth School of Business | Akhtarali H. Tobaccowala Fellowship The Zonis Fellowship |
| Haas School of Business | Dr. Tahir Fellowship |
| Kellogg School of Management | Kellogg Scholarship Kellogg Finance Network Scholarship |
| INSEAD | INSEAD Kristina Law MBA Scholarship for Asian Women |
| University College Dublin | GMAT MBA Scholarship |
| Imperial College Business School, London | GMAT Excellence Award |
| HEC Paris | HEC Paris MBA Scholarship for Excellence |
Scholarships Provided by Business Schools
Listed below are several GMAT scholarships for international students offered by various business schools:| University Name | Scholarship Type | Amount |
| INSEAD | INSEAD need-based | 13,104.58 USD |
| London Business School | B.K Birla MBA Scholarship | Variable |
| Tuck School of Business | The Willard M. Bollenbach Fund MBA Fellowship for Women | 10,000 – 30,065 USD |
| Wharton School | Joseph Wharton Fellowship | 20,000 USD |
| Kellogg School of Management | Kellogg Scholarship Kellogg Finance Network Scholarship | - |
| Stanford Graduate School of Business | Stanford Reliance Dhirubhai Fellowship | 150,000 USD |
| Harvard University | Horace W.Goldsmith Fellowship HBS Fellowship Program | 10,000 USD per year |
Advantages of GMAT Scholarships for Indian Students
A GMAT scholarship offers benefits beyond just financial assistance. Here are the notable benefits of GMAT scholarships for Indian students:- Acquiring a GMAT scholarship alleviates the financial strain associated with pursuing higher education.
- Obtaining a GMAT scholarship enhances the credibility of candidates' resumes and serves as a notable achievement during their job search.
- GMAT scholarships help candidates avoid or minimise student loan obligations, which otherwise burden them over an extended period.
GMAT Scholarships for Indian Students FAQs<span style=
Can I get 100% scholarship through GMAT?
Candidates who have an outstanding academic profile, excellent work experience, and a GMAT score above 750 may qualify for a 100% scholarship.
Do we get a scholarship after the GMAT exam?
Many renowned international colleges offer scholarships based on candidates' GMAT scores. Applying for these scholarships after the GMAT exam helps candidates conveniently qualify for these scholarships.
Can Indian students give GMAT for IIM?
Notable IIMs offering admission to Indian students through GMAT scores include IIM Bangalore, IIM Ahmedabad, IIM Lucknow, and IIM Calcutta. To secure admission to these institutes through GMAT, candidates must score within the range of 690 and 720.
Does Harvard offer GMAT scholarships?
Yes, Harvard Business School offers scholarships based on GMAT scores to Indian students. Most recognised scholarships offered by Harvard Business School include Horace W. Goldsmith Fellowship and HBS Fellowship Program.
What is the maximum percentage of scholarship candidates can get through their GMAT score?
Candidates can get 100% scholarship on their MBA tuition fee through their GMAT scores.
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