Top Scholarships for MBA Students at Ivy League and Global Top 20 Schools
Pursuing an MBA from an Ivy League school or a top global business school is a dream for many students. An MBA degree from these schools can open various doors of employment, but the cost is huge. The average cost of tuition for an MBA program ranges from $70,000 to $120,000 per year, and when considering living expenses, the total cost can exceed $200,000 over two years.
For students aiming to study abroad, particularly international students, scholarships can be a sign of financial relief. Many top business schools offer a range of scholarships, from merit-based awards to need-based and diversity-focused funding. In this blog post, we will decode the MBA scholarships available at Ivy League schools and top 20 global business schools.
Why Scholarships Matter for MBA Students
The importance of MBA scholarships for foreign students cannot be ruled out. The high costs of these programs and the living costs compel them to take out huge loans from the banks. This financial situation along with their visa restrictions can limit their ability to work while studying.
To help such students, top business schools are also offering increasingly competitive scholarships to attract international talent. Institutions such as INSEAD, LBS, and the top global business schools are allocating millions of dollars in scholarships annually.
Types of MBA Scholarships
- Merit-Based Scholarships
- Need-Based Scholarships
- Diversity and Inclusion Scholarships
- Country-Specific Scholarships
Top Scholarships for Ivy League MBA Programs
The Ivy League schools are home to some of the demanding MBA programs. They offer various scholarships to attract the top talent. Below are some key scholarship opportunities available at Ivy League institutions.
| Ivy League School | Scholarship type | Average Scholarship Amount Granted |
| Princeton University | Need-based | $70,500 |
| Harvard University | Need-based | $46,000 per year, or $92,000 total. |
| Fellowships | Refer to the official site for more details. | |
| Outside scholarships | Up to $ 30,000 | |
| Student loans | $ 99,000 | |
| Yale University | Merit-based | Refer to the official site for more details. |
| University of Pennsylvania | Fellowships | Amount varies. Refer to the official site for more details. |
| Internal FundingProgram | ||
| Additional Revenue Sources | ||
| External Funding Opportunities | ||
| Military Benefits | ||
| Cornell University | Merit-based | Amount varies. Refer to the official site for more details. |
| Park Leadership Fellowship | ||
| Brown University | IE – US Military Veterans Fellowship | Cover between 10% and 40% of the program’s tuition costs. |
| IE – Brown Executive MBA Dean’s Scholarship | Cover up to 40% of tuition cost | |
| Alumni Scholarship | 20% of the total program cost | |
| Loans | ||
| Columbia University | Need-based | $10,000–$30,000 |
| Dartmouth University | $ 32,000 |
Scholarships at Global Top 20 MBA Schools
Apart from the Ivy League, the global top 20 business schools offer extensive scholarship programs. Below is an overview of some of the MBA scholarships available at the top global MBA programs outside the Ivy League.
| Business School | Average Scholarship Amount | Scholarship Types |
|---|---|---|
| Stanford Graduate School of Business | $44,000 per year | Need-based fellowships |
| INSEAD | €20,000 – €25,000 | Diversity and merit-based scholarships |
| London Business School | £30,000 – £50,000 | Merit-based and Women’s Leadership Scholarships |
| HEC Paris | €15,000 – €20,000 | Excellence and need-based scholarships |
| University of Chicago Booth | $50,000 per year | Merit-based fellowships and corporate sponsorships |
| IESE Business School | €20,000 to €30,000 | Diversity and Women in Business Scholarships |
| MIT Sloan School of Management | $35,000 per year | Merit-based fellowships |
| IE Business School (Spain) | €15,000 – €20,000 | Leadership and young talent scholarships |
| SDA Bocconi (Italy) | Up to €30,000 | Merit-based scholarships |
| ESADE Business School (Spain) | €20,000 – €25,000 | Diversity and Women in Leadership Scholarships |
| National University of Singapore (NUS) | S$30,000 – S$50,000 | Merit-based and need-based scholarships |
| Cambridge Judge Business School (UK) | £20,000 – £40,000 | Merit-based and regional scholarships |
| Oxford Said Business School (UK) | £30,000 | Skoll Scholarship and regional-based scholarships |
| Rotterdam School of Management (Netherlands) | €10,000 – €20,000 | Merit and need-based scholarships |
| Melbourne Business School (Australia) | A$25,000 – A$50,000 | Diversity and merit-based scholarships |
| IMD Business School (Switzerland) | CHF 30,000 – CHF 50,000 | Need-based, merit-based, and regional scholarships |
| Warwick Business School (UK) | £10,000 – £35,000 | Merit and social responsibility scholarships |
| Australian Graduate School of Management (AGSM) | A$25,000 – A$50,000 | Leadership and merit-based scholarships |
| Tsinghua University School of Economics and Management (China) | Â¥100,000 – Â¥200,000 | Need-based and regional scholarships |
| HKUST Business School (Hong Kong) | HK$100,000 – HK$300,000 | Merit-based and regional scholarships |
Conclusion
Scholarships at top global business schools are an essential resource for MBA students looking to adjust with the high costs of tuition and living expenses. Schools like Ivy League, INSEAD, LBS, HEC Paris, and IESE are committed to offering millions in financial aid each year. Whether you are applying for need-based aid or merit-based fellowships, early preparation and a perfectly curated application are key to securing these funds.
Keep yourself updated with your target schools so that you don’t miss out on any important notices and application dates. Make sure to craft an winning application essay by highlighting your strengths and potential.
If you need help in crafting an MBA scholarship essay, we are happy to hop on a 1:1 call and help you strategize your MBA applications to grab the merit-based scholarships.
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