Scholarship Programs for the GMAT and GRE Students in 2024?
GMAT and GRE scholarship offers effective financial aid to pursue education from top universities. Explore the best GMAT and GRE scholarship and steps to apply for scholarships.
Shivani Kumari22 Apr, 2024
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GMAT and GRE Scholarship: Getting a scholarship to pursue education at international universities is a common challenge experienced by candidates. It not only bothers individuals with lower-income backgrounds but also affects those belonging to respectable financial backgrounds. Even after getting admission offers to prestigious international universities, candidates face financial constraints, which affect their further education.
Also Read: GMAT Syllabus 2024
Every student applying for an international professional degree program hopes to secure some form of scholarship to cover their study and living expenses. These scholarships range from need-based to merit-based funding. However, there are no definitive criteria guaranteeing GMAT and GRE scholarships or financial aid. Additionally, candidates are advised to apply early for GMAT and GRE scholarships as there are numerous applicants and limited funding for each university.What are GMAT and GRE Scholarships?
GMAT and GRE scholarships are financial aid offered to candidates who qualify for admission to international universities and colleges after qualifying for either the GMAT or GRE. In academic institutions, grants and scholarships are often awarded based on either merit or financial standing of candidates. These findings can either cover the entire educational expenses of a student or contribute towards partial tuition fees. To qualify for the scholarship benefits, candidates must obtain an impressive score in the GMAT or GRE exams.
Types of GMAT Scholarships
There are primarily three types of scholarships available to candidates who qualify for GMAT:Merit-Based Scholarships
Merit-based scholarships are awarded to students with exceptional academic achievements or candidates with outstanding accomplishments in sports or extracurricular activities. In this category, a student's financial background holds minimal relevance. Numerous universities and educational institutions provide MBA merit-based scholarships for Indian students.Need-Based Scholarships
Need-based scholarships are granted to students belonging to lower income families or disadvantaged backgrounds who exhibit strong academic performance. These candidates may have to provide a financial statement while applying for a scholarship.General/External Scholarships
Numerous agencies and organisations offer scholarships for MBA students, which include some specifically for MBA graduates. It's essential for students to be aware of their GMAT scores, as universities offer scholarships based on these scores. Therefore, candidates with impressive GMAT scores have a higher probability of entering MBA colleges by qualifying for these scholarships. GMAT Scholarship Details The table below presents some of the renowned GMAT scholarships offered to candidates:| Name of Scholarship | Candidates’ Eligibility | Offering Body |
| Manchester Merit Scholarships | Candidates must secure 600+ scores in GMAT | Alliance Manchester Business School, The University of Manchester |
| MIF GMAT-based Waiver | Reserved for Executive MSc in International Finance candidates with 640+ scores in GMAT. The scholarship amount ranges from €1,000 to €10,000. | Amsterdam Business School, University of Amsterdam |
| GMAT Scholarship for the Amsterdam MBA | Candidates with a GMAT score of 630+ are eligible for financial funding of €10,000. | Amsterdam Business School, University of Amsterdam |
| ESMT Women’s Academic Scholarship | Candidates get a scholarship of up to €15,000. It is awarded to two female candidates with exceptional academic records and a 700+ GMAT score. | ESMT Berlin |
| ESMT Diversity Scholarship | Candidates must attend at least one QS MBA Tour event in past 2 years and secure 650+ marks in GMAT exam. | ESMT Berlin |
| Dr. Tahir Fellowships | Candidates must be Asian undergraduate alumni pursuing a full-time MBA program at Haas Business School. | Haas School of Business, University of California Berkeley |
| Horace W. Goldsmith Fellowship | First-year MBA students qualify for this scholarship, provided they commit to working in a nonprofit organisation. | Harvard Business School, Harvard University |
| GMAT Excellence Scholarship | Candidates of Vlerick Business School with a GMAT score of 700 or higher are eligible for partial tuition fee coverage. | Vlerick Business School, KU Leuven |
| Young Potential Leader | Based on outstanding performance in GMAT and personal interview, | Essec Business School |
| Bocconi International Awards | International Award recipients get a 50% tuition coverage based on various admission criteria. | Bocconi University |
| Academic Scholarship | Applicants with a GMAT score exceeding 680 are considered for this scholarship. | Vlerick Business School, KU Leuven |
| Academic Excellence Scholarship | GMAT qualifiers receive scholarships ranging from £2,000 to £6,000 based on their score. | University of Exeter Business School |
| FS MBA Scholarships | Partial coverage of tuition fee for various MBA programs including Executive MBA, Part-time MBA, and Full-time MBA. | Frankfurt School of Finance and Management |
Scholarships for GRE Exam
Scholarships for international students based on GRE scores focus on merit and academic excellence. These scholarships typically fall into three categories, each offering different forms of financial assistance. Below are the three types of GRE scholarships, along with the benefits they provide:- University Scholarships: These scholarships are awarded by universities to incoming students. Recipients may receive travel allowances and coverage of their tuition fees.
- Government Scholarships: Offered by government bodies such as the MHRD. These scholarships support aspirants who have secured admissions abroad.
- Non-government/Private Scholarships: Many private organisations and foundations offer financial support to international students. These assist students in pursuing their degrees with ease.
Scholarships for GRE Candidates
The following are the most renowned GRE scholarships offered to Indian students:| Name of Scholarships | Scholarship Details | Program |
| Fullbright Nehru Masters | Tuition fees and partial living expenses |
|
| Inlaks Scholarships | $100,000 | Arts and Humanities |
| J.N. Tata Endowment Scholarship | A travel grant and special allowance |
|
| Aga Khan Foundation International Scholarship | Tuition fees and cost of living | Masters Level |
| DAAD Scholarship | Partial tuition fees and monthly stipend fund |
|
How to Search for GMAT or GRE Scholarships
When seeking out GMAT or GRE scholarships, candidates will find numerous options available. However, for efficient research and file misleading information, candidates must consider the following steps:- Utilise websites dedicated to GMAT or GRE scholarships.
- Keep an eye on Google alerts for fellowships and scholarships offered by business schools.
- Visit the official website of preferred university or college to know the scholarships offered or accepted by them.
- Seek guidance from PW GMAT Faculties for assistance with the GMAT or GRE scholarship application process.
How to Apply for GMAT and GRE Scholarships?
Here are the steps candidates must follow to apply for GMAT/GRE scholarships:- Search for GMAT/GRE scholarships and thoroughly review their requirements.
- Reach out to past scholarship recipients to gain insights into the scholarship application process.
- Visit the scholarship website to understand the application procedure thoroughly.
- Gain familiarity with the minimum GRE score required for scholarships and additional requirements.
- Highlight your GPA and academic achievements in the scholarship application.
- Reach out to the financial aid office of institutions to gather more information about GRE scholarships.
- Ensure timely submission of applications and send GMAT/GRE scores before the specified deadline.
| Also Read | |
| GMAT Exam Pattern | GMAT 2024 Exam Day Guidelines |
| GMAT Registration | GMAT Exam Date |
| GMAT Admit Card | GMAT Syllabus 2024 |
GMAT and GRE Scholarships FAQs
Can I get scholarship based on GMAT?
Numerous international colleges and universities consider GMAT scores for offering scholarships. However, candidates must sim to secure a high GMAT to qualify for a scholarship. Generally, candidates are advised to score a minimum 600 in the GMAT.
Can I get a 100% scholarship through GRE?
Securing a 100% scholarship through the GRE can be challenging for candidates. Typically, candidates with exceptional academic profiles and outstanding GRE scores qualify for a 100% scholarship on tuition fees.
Is the GRE or GMAT better for MBA scholarship?
GMAT is specifically required for MBA admissions. In contrast, the GRE is suitable for general graduation programs. If candidates are certain to pursue an MBA degree, they should select GMAT. Otherwise, the GRE is recommended.
How do I get a scholarship with my GRE score?
Candidates mostly offer a scholarship to candidates who achieve a minimum of 60-70% marks in their UG program. To enhance one's chances of securing a scholarship, candidates should aim to achieve a minimum of 160 in the Verbal and Quantitative Reasoning section of the GRE.
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