Unlocking Top International MBA Scholarships with insights from INSEAD and London Business School

MBA & Beyond Team

07/01/2024 | 12:34 pm

Embarking on an international MBA journey is exciting, but the question remains – how will you finance it? MBA scholarships can be your lifeline, and the route to attending renowned business schools like INSEAD or London Business School but acquiring one can be very competitive and close to impossible without an out-of-the-world application. In this article, we’ll cover international MBA scholarships in detail and explore ways we can boost your chances of getting them.

Types of MBA Scholarships: A Closer Look

• Merit-Based Scholarships: These are awarded for academic achievement, extracurricular activities, and other notable accomplishments. For instance, the Harvard Business School Fellowships.

• Need-Based Scholarships: Granted to those demonstrating financial need, like the Yale School of Management Tuition Assistance Program.
• Diversity Scholarships: Meant for students from underrepresented backgrounds. INSEAD and IE Business School offer such scholarships.
• External Scholarships: Given by organizations outside the schools like the Fulbright Scholarship.

Your Scholarship Narrative Matters – From INSEAD and LBS admits

Nandita Jaitly, an alumna of the London Business School and a Profile Expert at MBA&Beyond, emphasizes the importance of illustrating what you can contribute to the institution. A compelling scholarship narrative should not just showcase your achievements, but also how you plan to give back during and after the program. Nandita suggests using scholarship offers from other schools as leverage. If you receive financial support from another institution, it can demonstrate your worth to your preferred school, leading to possible financial assistance from them.

Sanjana, INSEAD 2024-25, approached her scholarship applications holistically, emphasizing not just academics and professional experience but also her broader vision. She believed scholarship committees seek candidates who can see the larger picture: the impact they’ll make with the opportunity provided. For Sanjana, clarity was key. She articulated why she deserved the scholarship from both a merit and personal perspective and how she’d maximize the opportunity. In essence, a compelling scholarship application should bring collinearity in your post MBA goals, showcase a candidate’s potential beyond academics in extracurricular activities, resonating with the scholarship committees’ objectives.

Applying in early action can significantly boost your chances of getting a scholarship. However, schools value exceptional candidates, so don’t let conventional timelines deter you if you’re a perfect fit for a program. Read more: How to strengthen your MBA application for Round 1 MBA?

Scholarships are diverse; what works for one candidate may not be the path for another.

A free profile evaluation call with our Profile Experts at MBA&Beyond will help you identify MBA scholarships and tailor your application to showcase your strengths effectively. Read more: Why should you work with an MBA consultant?

Guided Steps to MBA Scholarships

• Assess Your Financial Needs: Understand the full costs, including tuition and living expenses.
• Research Scholarship Opportunities: Review potential schools’ websites and consider both merit-based and need-based scholarships.
• Check Eligibility and Deadlines: Ensure you fit the criteria and mark the deadline dates.
• Reach Out for Clarity: Contact consultants for specifics about the application process.
• Prepare a Strong Application: Carefully adhere to guidelines and gather necessary documents.

Spotlight on International MBA Scholarships

• USA: Notable scholarships include Forté Fellowship, Toigo Fellowship, and the Gates Cambridge Scholarship. Read more: Top STEM MBA in USA
• UK: Top B-schools like Oxford Saïd, Cambridge Judge, and London Business School offer various merit scholarships.
• Canada: Leading schools like Schulich, Rotman, and Ivey provide scholarships based on academic and leadership prowess. Read more: Top MBA Schools in Canada
• Europe: Prestigious scholarships can be found at INSEAD, IE Business School, and HEC Paris, among others. Read more: Top MBA Programs in Europe

In essence, MBA scholarships can be a game-changer for aspiring students. Crafting a strong narrative, negotiating wisely, and timely applications can pave the way to your dream business school. So, as you gear up for this journey, remember to dive deep into the world of scholarships – your gateway to opportunities. 

Contact our MBA admissions consultant at MBA&Beyond to tap into their expert knowledge and secure the financial support you deserve. Read here, How do we ensure you work with the best MBA consultant? 

Maximize your scholarship opportunities and take the first step toward your dream MBA program. Read more: How to get the most out of your free MBA consultation calls?

Hear from our applicants, Profile Experts and Consultants from a Coffee Session in September for more insights on International MBA Scholarships.