MBA Scholarships For International Students – If you are an international student with the desire to pursue a master of business administration (MBA) degree, you might be very concerned about the cost. This is because MBA programs can be quite expensive, and a full-time program may make it very hard for you to work at the same time.
But worry less because there are options available to assist you in easing the financial burden. International student scholarships and other financial aid options can assist you in getting an MBA degree. Hence, by applying for scholarships, grants, and other funding sources available you can achieve your career goals without getting weighed down by student loan debt.
What You Need To Know About MBA Scholarships for International
Firstly, scholarships are financial awards that MBA students can get without paying for them. They can be very supportive of reducing the amount of debt that MBA students may accumulate throughout their studies. The amount of scholarship money awarded differs extensively, with larger scholarships providing more than $10,000 and smaller ones providing only $1,000.
Scholarship money naturally covers tuition fees, books, and other fees, but sometimes it also covers housing and transportation expenses. Different scholarships have different requirements, so it is important for students to look into the ones they are qualified for to avoid wasting time on opportunities that don’t fit their qualifications.
Scholarships are extremely competitive, so as a student, you should not ignore smaller scholarships, as they may have fewer applicants and, therefore, better chances of acceptance. There are also scholarships that are renewable, meaning that instead of a single payment, they provide a recurrent payment of money over a certain period of time.
Tips For Finding and Applying For MBA Scholarships
Before you think of applying for scholarships, make sure that they fit your qualifications and that your application stands out. The lists below are some of the tips to find and apply for MBA scholarships, and they are as follows:
Research to find the best MBA scholarship
Finding scholarships to assist in financing your MBA degree can be challenging. However, there are a lot of scholarship databases available on different websites, most especially on the official websites of universities, which can be particularly helpful. If you are in search of prestigious scholarships to decrease the cost of your MBA program, consider making use of Leap Scholar’s scholarship finder. This tool allows you to explore and discover the best scholarship options available to finance your MBA degree in countries like the USA, UK, Australia, Canada, Ireland, and a lot more.
A Good GMAT score
To increase your chances of getting a larger scholarship award, aim for a GMAT score of about 730 or higher. Business schools like Wharton do receive MBA applicants with GMAT scores as low as 500, but keep in mind that these candidates naturally have other strong elements in their profiles. If you have a lower score, emphasize developing other areas of your application to make yourself a more competitive candidate.
Ensure Your Profile Stands Out
It is very important to add your pivotal projects where you managed a group of people, budgets, events, and other resources. By showcasing your experience in leadership, you can stand out from other candidates. You can also mention any relevant work experience in your profile and elaborate on your various tasks to demonstrate your ability to take risks and work effectively in uncertain environments.
Negotiate Your MBA Scholarship
If you want to negotiate your MBA scholarship, you can increase your chances by receiving a scholarship offer letter from another competing institution. This can assist in demonstrating to your present institution that you are a desirable talent and deserve better financial aid. It is suggested that you initiate polite email documentation to justify your request for an increased award. In your email, ensure to mention some of your notable achievements that support your negotiation.
Best MBA Scholarships and Grants For International Students
There are a lot of MBA scholarships, grants, and fellowships for international students, and they are as follows:
- BTH Scholarships.
- University of Twente Scholarships (UTS)
- AAUW International Fellowships in the USA for Women
- ADB Scholarships at the University of Auckland
- DAAD Scholarships in Germany for Development-Related Postgraduate Courses
- International Excellence Scholarships at the University of Leeds
- Swedish Institute Scholarships for Global Professionals
- VU Amsterdam Fellowship Program for International Students
- UCL Global Masters Scholarships for International Students
The lists above are just some of the MBA scholarships, grants, and fellowships for international students; there are still a lot more.
Conclusion
In conclusion, financing an MBA program can be a challenge for a lot of graduate students. However, there are several financial aid options available to help cover the program costs. You can apply for any of the available MBA scholarships and grants to achieve your dreams of getting a Master’s degree in Business this year.