How to Get MBA Scholarships through GMAT?
Are you a student from India dreaming of an MBA abroad but concerned about finance? Earning MBA scholarships through GMAT can make your dream come true! These GMAT scholarships reward students with outstanding GMAT scores, academics, and professional achievements, offering partial or complete scholarships.
Top programs like the Stanford Reliance Dhirubhai Fellowship and the Joseph Wharton Fellowship are among the most prestigious opportunities for Indian students. Depending upon your score and profile, you can receive scholarships of up to USD 10,000 to 150,000. To increase your chances, target a GMAT score of 730+. Let us learn more!
What is a GMAT Scholarship?
A GMAT scholarship is a merit-based financial award offered to MBA applicants with good GMAT scores. These MBA scholarships through GMAT help students cover tuition fees and other educational expenses during the MBA program.
For Indian students, GMAT scholarships can be merit-based or need-based, depending on the university’s criteria. They may offer partial or complete funding. High GMAT scores- typically above 700- can significantly enhance your chances.
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Types of GMAT Scholarships in India
Indian students can apply for three main types of GMAT scholarships offered by universities and external organizations:
| Types of GMAT Scholarship | Description |
| Merit-Based GMAT Scholarships | Primarily awarded to candidates with high GMAT scores, exceptional academic records, or substantial professional achievements. These MBA scholarships through GMAT reward excellence and great leadership potential. |
| Need-Based GMAT Scholarships | Granted to students who demonstrate financial needs, for rthe eduction of pressure on tuition and living costs. |
| External GMAT Scholarships | Offered by corporate organizations, NGOs, or foundations outside universities. These have specific eligibility criteria or a separate application process, which provides financial support to GMAT test-takers. |
Top GMAT Scholarships Available in India
| Name of GMAT Scholarship | Eligibility Criteria | Award Amount |
| Stanford Reliance Dhirubhai Fellowship | Awarded to 5 Indian students who commit to returning to India post-MBA and work in an Indian organization for atleast 2 years | USD 150,000 |
| Joseph Wharton Fellowship | Granted to students with exceptional academic records, leadership, and professional achievements. | USD 80,432 |
| Dr. Tahir Fellowship | Open to students from Asian countries with undergraduate degrees and strong academic performance. | USD 40,000 |
| The Indian Trust Fellowship | Offered by the University of Chicago Booth School of Business to two Indian students each year. | USD 10,000 |
| Forte MBA Fellowship for Women | Designed for the outstanding female MBA students based on merit, leadership, and academic excellence. | Varies by university and program. |
Top MBA Programs Offering GMAT Scholarships
| Name of the University | Scholarship Type | Eligibility Criteria | GMAT Scholarship Award Amount |
| Kellogg School of Management | Scholarship
Finance Network Scholarship |
Full-time MBA students
MBA candidates specialize in Finance |
Variable |
| Wharton School | Joseph Wharton Fellowship
Social Impact Fellowship Emerging Economy Fellowship |
Students with outstanding academic and personal backgrounds.
Candidates aiming to contribute to a non-profit. Students enrolled in a 2-year MBA program. |
Upto USD 20,000 |
| Harvard Business School | Horace W. Goldsmith Fellowship
HBS Fellowship Program |
First-year MBA students with prior experience in non-profits
Students demonstrating financial needs |
Up to USD 10,000 |
| Stanford Graduate School of Business | Stanford Reliance Dhirubhai Fellowship | Indian students are committed to returning to India and working for atleast 2 years post MBA | Upto USD 150,000 |
| INSEAD | INSEAD Need-Based Scholarship | Students demonstrating financial need and from the economically weaker section | USD 13,104 |
| Tuck School of Business | The Willard M. Bollenbech Jr.1949 Fund MBA Fellowship ( for Women) | Female candidates with strong academic leadership potential | USD 10,000 |
| London Business School | B.K. Birla MBA scholarship | Awarded to 10 exceptional students pursuing an MBA or a business program. | Variable |
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How to Apply for a MBA Scholarship Through GMAT?
- Step 1: Research Scholarships: Explore GMAT scholarships from top business schools, organizations, and foundations. Check their eligibility, deadlines, and application requirements.
- Step 2: Achieve a Strong GMAT Score: Aim for a competitive GMAT score, as many scholarships are awarded based on academic and test performance.
- Step 3: Collect Essential Documents: This includes all the critical materials, such as the GMAT score report, academic transcript, essays, LORs, and others.
- Step 4: Craft a Compelling Personal Statement: Write a good essay highlighting your goals, achievements, and why you deserve a scholarship.
- Step 5: Submit the Application: Ensure all forms and supporting documents are completed and submitted before the official deadline.
- Step 6: Prepare for Interviews: Track your application status and be ready for interviews or additional selection rounds, if the scholarship committee requires them.
Eligibility Criteria for MBA Scholarship
- High GMAT Score: GMAT scholarships require good GMAT score, usually in the reach of top percentile.
- Strong Academic Record: Consistent academic excellence during UG, reflected by a high GPA or equivalent grades.
- Relevant Work Experience: Candidates with meaningful professional experience, primarily in leadership or impactful roles, have higher scholarship chances.
- Compelling Personal Essay: Applicants are required to submit a personal statement detailing their career goals, achievements, and motivation.
- LORs: Endorsements from professors, employers, or mentors highlighting your skills and potential can add up to significant value
Benefits of MBA Scholarships
Securing an MBA scholarship through GMAT eases financial pressure and strengthens your professional profile. A GMAT scholarship can substantially reduce or even fully cover tuition fees, which allows students to concentrate on academics and career growth without worrying about expenses. Qualities admired for top employers worldwide are:
- Financial Relief: GMAT Scholarships lower or eliminate tuition costs, making global MBA programs more affordable.
- Resume Enhancement: Winning a GMAT scholarship reflects merit or academic achievements, boosting employment prospects.
- Reduced Student Debt: By covering a significant portion of study expenses, these scholarships help students to minimize student loan burdens.
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Frequently Asked Questions
Can I get a scholarship through GMAT?
Yes, business schools offer scholarships based on high GMAT scores, academic achievements, leadership qualities, and professional experience.
Does GMAT directly offer scholarships?
No, GMAT doesn’t offer scholarships directly; universities and external organizations grant them based on your GMAT performance.
What GMAT score helps in getting scholarships?
A score above 700 increases your chances; top scholarships often prefer 730+ for full or partial funding.
What is the top 1% GMAT score?
A GMAT score of around 760–800 places you in the top 1% of all test-takers globally.
What GMAT score do I need for Harvard?
The average GMAT score for Harvard Business School is around 730, but applicants with scores between 700 and 770 remain competitive.
Is a 750 GMAT score impressive?
Yes, 750 is an excellent score, placing you in the 98th percentile—ideal for top business schools globally.
How can GMAT scores influence scholarships?
Higher GMAT scores strengthen your merit-based scholarship eligibility, reflecting analytical ability, academic excellence, and leadership potential.
Can Indian students get GMAT scholarships abroad?
Yes, Indian students can secure GMAT scholarships at top international B-schools based on merit, GMAT scores, and financial need.
