Dreaming of that MBA and eventually a career you can be proud of? If you think you are capable of getting into the top b- schools of India, but feel that lack of funds could stop you... Don’t worry. Our b- schools have various scholarships and grants you can avail of. Let’s deep dive into the world of scholarships offered by some of the best b- schools in India.
Broadly, scholarships for b- school education can be classified into 4 categories, depending on the people who provide the award. These are:
- The b-school
- The Government
- Other institutions or corporations.
Scholarship can range from 10 to 100% waiver on tuition fees varying from college to college. Which is amazing! But no matter who offers the scholarship award, merit is a common factor of eligibility.
Here’s a list of factors that may decide whether you are eligible for any sort of scholarships
Scholarship Eligibility Factors:
- Academic percentage in 10th, 12th & Graduation
- CAT/XAT/MAT/GMAT percentile
- Performance in written test conducted by the MBA college
- Performance in GD/PI conducted during selection process
- Merit based Scholarship/ State Rank Holders
- Work Experience in reputed organization
- Sports Scholarship for those who have represented state at National Level Competition
- Performance during academic session of the MBA College/ top performers in the college
- Scholarship for SC/ST/Physically Challenged Candidates
Please note that only some of these criteria may be applicable to you.
How do you get a scholarship?
Since there are many awards offered by different b-schools, and each have different selection and eligibility criteria, getting a scholarship also becomes subjective. If you wish to know which scholarship is right for you, the best thing to do is to directly ask the b- school authorities about it.
You can always send an email to the b- schools you’re interested in to understand which scholarships or awards you are best suited for. Or you can just connect via phone. You can also log on to InsideIIM webinars hosted by various b- school students and ask them about your concerns. Go to our YouTube channel here.
So what are some scholarships and waivers offered by top B- schools in India?
Let’s do this alphabetically. In this article we share and compare the scholarships and prizes awarded by IIM A & B. Here's the various scholarships offered by both b- schools.
|Sr. No.||Scholarship Name||Type||School||Eligibility||Amount|
|1||IIM A Special Need Based Scholarships||Scholarship offered by the b- school||IIM A||If your or your guardian's gross annual family income is below Rs.15,00,000 during the previous financial year.||Depends on the annual gross family income|
|2||SC/ST Scholarships||Scholarship offered by the b- school||IIM A||Only SC/ST category students having valid certificates can apply for this scholarship.||Rs.150 per month for 10 months|
|3||IIM A Exit Scholarships For Entrepreneurship Students||Scholarship offered by the b- school||IIM A||The applicants shall opt out of placement and must have business plans.||Rs. 30,000 Stipend for 3 years post graduation|
|4||Exit Scholarship for students who join not for profit organizations||Scholarship offered by the b- school||IIM A||Students who choose to work in NGOS||Rs. 3- 4 Lakh per year per student in order to assist paying off their education loans.|
|5||Assistance ships for Doctoral students||Scholarship offered by the b- school||IIM A||To encourage students to go for doctoral studies in India or abroad, 2 students will be given this scholarship for at most three consecutive years.||Rs. 3- 4 Lakh per year per student|
|6||GOI ST/ SC Scholarship||Scholarship offered by the Government||IIM A||Awarded to meritorious SC/ST students, whose family income does not exceed Rs. 4,50,000 per annum.||Depends on the annual gross family income|
|7||GOI Merit-cum-Means* Scholarship||Scholarship offered by the Government||IIM A||Awarded to students from the minority communities, whose family income does not exceed Rs.2.50 lakhs per annum by the Ministry of Minority Affairs.||Depends on the annual gross family income|
|8||Scholarships for students with disabilities||Scholarship offered by the Government||IIM A||Awarded to meritorious DA/PWD students, whose family income does not exceed Rs.6,00,000 per annum||Depends on the annual gross family income|
|9||PGP Alumni Endowment Fund||Scholarships by Alumni||IIM A||Financial support extended to nine PGP 1 & PGP/FABM II students from economically and socially challenged background, based on their financial status, every year||Each student would be eligible to get an amount in the range of Rs. 200,000 - 300,000.|
|10||Peri Viswanath Scholarship (Merit-cum-Means)||Scholarships by Alumni||IIM A||this scholarship aims to extend financial support to one student in the PGP/PGP-FABM||The Amount is Rs.200,000 per year and the scholar will get Rs.400,000 over 2 years|
|11||Shri GC Mittal Entrepreneurship Aid||Scholarships by Alumni||IIM A||For 1 student who intends to start own venture, opting out of the IIMA placement process.||A sum of Rs.200,000 is awarded every year to one graduating student of PGP/PGP-FABM|
|12||Smt. J Nagamma Memorial Award||Scholarships by Alumni||IIM A||Awarded to one PGP first year student at the end of the first year as a merit scholarship based on academic performance.||Rs.15,000|
|13||Aditya Birla Group Scholarships||Scholarship by Corporates/ Institutes||IIM A/ IIM B||Candidates are shortlisted by ABG on the basis of merit. Around six students are shortlisted.||Rs.175,000 per student per year.|
|14||Dunia Scholarship for Scholastic Excellence||Scholarship by Corporates/ Institutes||IIM A||Dunia Finance LLC, Dubai, UAE has instituted this merit scholarship – two scholarship each to PGP-Is and PGP-IIs.||Rs.100,000|
|15||OP Jindal Engineering and Management Scholarship||Scholarship by Corporates/ Institutes||IIM A/ IIM B||Two students are shortlisted for this scholarship based on the academic performance of the students and an online test along with a personal interview.||Rs.150,000 per student per year.|
|16||T. Thomas Scholarship||Scholarship by Corporates/ Institutes||IIM A/ IIM B||Awarded by Hindustan Unilever Ltd. to a second year student based on merit-cum-means criteria||Rs.100,000 per year|
|17||Citi Women’s Leader Award||Scholarship by Corporates/ Institutes||IIM B||Merit scholarship that covers the second year’s tuition expenses. Candidates are selected from the top 25% of the batch at the end of the first year. Nomination is done by the institute and the students are selected on the basis of their Statement of Purpose and subsequent interviews scheduled by Citi Group.||Depends on the SOP and interview review and student requirement|
|18||Societe Generale Global Solution Center India Scholarship||Scholarship by Corporates/ Institutes||IIM B||This is a means scholarship that covers tuition expenses in full. Candidates are selected from the neediest applicants in the first year and subsequent interviews conducted by Societe Generale.||Full tuition expenses|
|5||Siddhartha Padam Award||Scholarship offered by the b- school||IIM B||Awarded to a PGP student who is on the Director’s Merit List and gets the highest CGPA in Economics, Finance & Accounting core courses in the first year.||INR 50,000, a medallion and a certificate.|
|6||IIMB PGP Alumni First Batch (1976) Scholarship||Scholarship offered by the b- school||IIM B||This scholarship is given to a differently-abled female student from PGP.||INR 75000, a medallion and a certificate.|
|7||Runwal Education Trust Scholarship||Scholarship by Corporates/ Institutes||IIM B||This scholarship is given to a PGP student based on a combination of academic performance in the 1st year and the student’s financial need||INR 100000, a medallion and a certificate.|
|9||Yes Bank Scholarship||Scholarship by Corporates/ Institutes||IIM B||Open to students who are among the top 20 students as per the admission criteria, belong to the top 20% of the batch based on the current CGPA and are members of at least one student committee.||INR 2 lakhs|
|10||NTPC Scholarship Scheme||Scholarship offered by the Government||IIM B||Students who belong to SC/ST/PwD categories and are in their second year of management studies, having passed the first-year examination in one attempt.||INR 48,000 per year|
|11||Employment in Social Sector Scholarship||Scholarship offered by the b- school||IIM B||This scholarship reimburses the recipient one-third of the fees at the end of each year of work for the first three years in the social sector.||One-third of the fees.|
|12||Ministry of Tribal Affairs Scholarship (ST)||Scholarship offered by the Government||IIM B||National Scholarship for Higher Education for Scheduled Tribe students of PGP first year.||Covers tuition expenses in full|
|13||Ministry of Social Justice & Empowerment Scholarship (SC)||Scholarship offered by the Government||IIM B||National Scholarship for Higher Education for Scheduled Caste students from Meritorious SC students PGP first year.||Covers tuition expenses in full|
|14||Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD)||Scholarship offered by the Government||IIM B||A person with disability having not less than 40% disability and having a disability certificate issued by any competent medical authority.||INR 2,55,000 per year|
Need a little more information? Find it below...*Merit-cum-Means usually refers to a method of selection where your academic performance and your financial requirement are both taken into account.
Get in-depth details for each award and criteria here.
Converted a call from IIM Ahmedabad? Join us for an exclusive Workshop - Pre-MBA Social 2019. Meet your Future Recruiters even before you enter the b-school. Meet the Recruitment Team from TAS, HUL, Ab-InBev, ABGLP, Shell, and more. For more details, and to register, please click here.
All PGP students with annual household income below INR 6,00,000 are eligible to apply for financial aid at IIM B. Other students with severe financial difficulties arising from sudden unforeseen circumstances are also considered.
The Financial Aid Committee undertakes a 2 step process for deciding the number of awardees and quantum of aid. In the first stage, the students are given a financial status score based on four criteria – Annual Gross Household Income (including income of the student if employed before joining IIM B and outstanding loans if any, provided they were not taken for conspicuous consumption), Household Savings, Real Estate Assets, and Other Assets. Based on this score, some of the students are called for a personal interaction with a faculty panel. During these interactions, faculty panels evaluate the financial needs of the student, as well as establish the genuineness of the details provided by the student in the application and assign a financial need score. Based on the weighted average of these two scores, applicants are provided 100%, 80%, 60%, 40% or 20% financial aid.
Additionally, PGP students also receive several Merit based or Merit-cum-Need based scholarships as explained above.
Converted a call from IIM Bangalore? Join us for an exclusive Workshop - Pre-MBA Social 2019. Meet your Future Recruiters even before you enter the b-school. Meet the Recruitment Team from TAS, HUL, Ab-InBev, ABGLP, Shell, and more. For more details, and to register, please click here.
Keen to know about different scholarships and awards offered at various other b- schools?
Check out the scholarships for IIM Kozhikode here.
Check out the scholarships for ISB Hyderabad here.
Check out our Scholarship Archive here.