Pursuing an MBA is a long-held ambition for many aspirants. In the competitive world of today, the program is still seen as an investment for employees who want to stand out from the crowd.
All of this is due to the MBA program’s structure. It will provide you with the tools to broaden your skillset as well as the opportunity to network with students from all over the world. Nonetheless, it is difficult to overlook that most MBA programs are prohibitively expensive. An average two-year MBA in the United States can cost more than $60,000 and this figure is expected to rise further as a result of the impact of Covid-19.
Fortunately, pursuing an MBA does not have to leave you neck-deep in debt. Overseas students who want to pursue the program can apply for a variety of financial aid.
The top three top-ranked MBA programs with scholarships available to partially or fully fund international students’ studies include:
International Institute for Management Development (IMD)
The International Institute for Management Development (IMD) is well-known for producing leaders who revolutionize organizations and make a positive contribution to society.
Established by corporate leaders for business executives, this is an independent academic institution and has foundations in both Switzerland and Singapore, enabling a Swiss education with international exposure. Its MBA Program was named Europe’s best MBA by Forbes and Bloomberg. A distinction is entirely attributable to the institution’s diverse and experienced faculty members and pedagogy.
For international students, IMD offers a variety of scholarships that can cover nearly fifty per cent of the tuition cost of 97,500 Swiss Francs (approximately $1,05,496). MBA scholarship opportunities are available for the February, May, July, and September admission deadlines.
Merit-based scholarships are available for women, young leaders, and people of different nationalities. Students can also apply for the essay-based Stewart Hamilton Scholarship and the Staton Scholarship, the latter of which is only for Latin American students, among other opportunities. Students must submit the IMD MBA Financial Aid Form along with their required documentation for these.
The University of Cambridge, Judge Business School
The University of Cambridge is one of the most well-known universities in the world. Students come from all over the world to compete for a spot at the university, which is widely regarded as one of the best in the world.
As a result, graduates of Cambridge’s MBA program are inundated with employment options from globally renowned firms and institutions. However, in addition to the stringent application process, students must also consider the hefty tuition fee of £61,000 ($80,650).
Fortunately, Cambridge has a number of scholarships available through the main university and business school that will cover a portion of the cost of tuition.
Benefits are awarded for academic achievement and work experience in specific fields, as well as for women, the LGBTQIA+ community, and based on nationality. Students will be considered automatically for these scholarships if they meet these criteria and fall in any of the categories. Students should specify this at the time of their MBA application.
Students can also apply for scholarships that are not funded by the university.
Every two years, the Boustany Foundation awards £30,000 ($39,672) to successful applicants to Cambridge’s MBA program. The scholarship is open to students from any country, but preference will be given to Lebanese applicants. Qualified candidates will be admitted to Pembroke College automatically.
A copy of the CV (including a photograph), GMAT scores, and Cambridge acceptance letter should be mailed to firstname.lastname@example.org by the applicants who are interested to apply.
The University of Sydney Business School
According to leading university rankings, the University of Sydney is ranked among the top as one of the top five universities in Australia and among the top 100 in the world. It is consistently rated first in Australia and fourth in the world in terms of graduate employability, which is an impressive statistic for any ambitious student. It also houses Australia’s top MBA program.
The program is taught in small class sizes and is delivered in an intensive format that provides students with an in-depth understanding of finance, marketing, and strategy. Students gain industry experience by working on real-world management consulting projects with prestigious firms like Deloitte, Ernst & Young, and PwC.
International students have an option to choose from about 100 different scholarships that are available. Students come from Bangladesh, India, Indonesia, Malaysia, Thailand, and the Philippines.
Scholarships are awarded in up to three rounds per semester ranging from AU$5,000 to AU$10,000 ($3,500 to $7,100).