The hard work required for a MBA degree itself can be overwhelming, considering the advantages of earning a degree and having acquired an advanced skill set. An MBA usually takes 2 years to complete and is recognized for its practical approach, whether you chose to pursue a full time on-campus or online MBA program. As it is a known fact that management is one of the most costly field of education and you will be overloaded by the loan amount which you decided to take to pay your tuition fee by the time the course is done. The great news is that by registering for scholarships provided by government and business schools, a student can get some relief on their expenses.
MBA Scholarships in India
Institute-based, corporate-sponsored or government-sponsored MBA scholarships are offered by top B-Schools in India, the criteria is how to get an MBA scholarship, as the B-schools provide their students with an MBA scholarship that meets academic & overall performance and family financial history. Whether it's IIMs, Central Government or State Government, each of them gives the deserving students outstanding MBA Scholarships each year. Check out the full details of the Best MBA Scholarships in India here, from eligibility to the cost of scholarship.
1. Merit Cum Means Scholarship for Professional and Technical Courses CS (Minorities)
This scholarship is offered by the Ministry of Minority Affairs to minority students pursuing UG or PG-level professional and technical courses. The purpose is to provide eligible and unprivileged students with financial support.
Eligibility –
Applicants must belong to minority groups and should undertake a technical and professional program from a recognized institution at the post-graduation level. In the preceding final examination, the applicant should have secured at least 50 percent marks or an equal grade. The applicant should belong to a family in which the annual revenue is not greater than INR 2.50 Lakhs from all incomes and must be accepted on the basis of a competitive entrance exam or have scored at least 50 percent in class 12 or graduation (in case of direct admission).
2. Post Graduate Scholarship for Professional Courses for SC/ST
The UGC, Ministry of HRD, scholarship is available to SC/ST students pursuing postgraduate technical courses. The goal is to provide financial assistance to postgraduate students in the group of SC/ST.
Eligibility –
The applicant must be in the SC/ST group and must be in the first year of a postgraduate professional course.
3. PNB Housing Finance Protsahan Scholarship
PNB Housing Finance Limited's PNB Housing Finance Protsahan Scholarship initiative aims to provide financial assistance to students who are participating in the MBA/PGDM programme. The screening for the scholarship is carried out based on the candidate's academic merit and financial need.
Eligibility –
The scholarship is available to students who are participating in MBA (Marketing & Finance) programmes for the first year. In both Class 12 and Undergraduate (UG) studies, applicants must have scored a minimum of 65 percent, and the applicant's annual family income must be less than or equal to INR 8, 00, 000 (8 lakh) per annum.
4. IDFC FIRST Bank MBA Scholarship
Under this scholarship scheme offered by IDFC FIRST Bank, students participating in the first year of full-time MBA programs that meet the eligibility requirements will benefit from this scholarship. This is a need-based scholarship initiative that seeks to enable students to pay their management program's tuition fees.
Eligibility –
This scholarship would support students who only live in India and are Indian nationals. The total annual family income should be less than or equal to INR 6 Lakhs per annum from all sources. Applicable in the first year of the MBA degree for students enrolled (or its equivalent).
5. Sonu Sood’s Scholarships for Higher Education
Applications are now invited from enthusiastic and deserving candidates for the Higher Education Prof. Saroj Sood Scholarships, which are generously offered under the Sonu Sood Initiative by Bollywood actor Sonu Sood. The initiative, launched on behalf of his late mother, Prof. Saroj Sood, aims to provide full higher education scholarships to underprivileged students.
Eligibility –
In all streams, students pursuing management studies.
MBA Scholarships by IIMs
The top leading B-schools in India are the Indian Institute of Management. The leading IIMs give numerous scholarships and prizes, details of which are given below.
1. IIM Ahmedabad –
Qualified for the scholarship are all students admitted to the Postgraduate Program whose gross family income is below INR 15, 00, 000. The financial assistance needed for each applicant will be decided by the authorities of IIM-A on the basis of their assessment of the economic status of the applicant, assessed by criteria such as movable and immovable family properties, number of dependents on family income, and so forth.
2. IIM Bangalore –
Provided their household income is below INR 600,000, students enrolled in PGP are eligible for financial assistance. Often considered are other students with considerable financial problems resulting from sudden unforeseen circumstances.
3. IIMB PGP –
This financial aid is designed to assist female students pursuing PGP with different abilities. In the absence of any qualified female student, a differently-abled male student is considered. The aim of this scheme is to keep alive the memory of the 1976 PGP batch and their affiliation with the institute. A total of INR 75,000, a medallion and a certificate are awarded through the scholarship.
4. IIM Lucknow –
Qualified for the scholarship is any student whose family income falls below the cap of INR 1,50,000. On the basis of merit, qualifying applicants are shortlisted for awards. The scholarship covers the tuition fee paid by the institute in that specific year.
Students leave no possibility open when studying diligently for the MBA entrance exams, therefore, lack of financial expenditures must not be an obstacle in the path towards their ambitions. As mentioned in this article, with the assistance of the MBA scholarship schemes, students may raise some burden off their shoulders and continue to work hard for their achievement.
