In general, MBA programmes seek to instill leadership and people management skills and technological specializations, all of which are critical for a company’s growth. The degree will make all the difference when obtained from a reputable college with well-known alumni and an organizational network. MBA aspirants have manyspecializations to opt from, such as Digital Marketing, Business Analytics, Engineering Management, and Financial Accounting.

In times like ours, where competition is fierce, and the work market is shrinking, pursuing a master’s degree abroad, such as an MBA, becomes critical. Foreign countries act as a host to numerous prominent and prestigious colleges comprising reputed alumni and organizational networks. It means that students have a plethora of career openings and competitive salary packages. Moreover, such degree programs can help you differentiate yourself from the crowd and gain the upperhand in the competition. Obtaining admission to such schools, however, is not an easy task and is often very costly. Specificscholarships waive off the tuition fees, including shelter cost. Through this guest post, we aim to guide you to such scholarships offered either/both on – merit and financial background; thus, play a significant role in making your dreams come true.

1. DAAD Scholarships – Germany

The German Academic Exchange Service’s DAAD scholarships are intended to offset the tuition costs, housing, and necessities such as health care and travel expenses. With a budget of 522 million Euros, the private, federally financed, and state-supported scholarship oversees about 365 German higher education institutions. Furthermore, this award covers over 100,000 foreign and native students each year. Where it comes to master’s degrees, a master’s degree from a German university has a stellar reputation and is widely regarded around the world. With automotive giants like Audi and Wolksvagen dominating the car industry, the country is home to some of the renowned engineering universities in the world.

2. The Eiffel Excellence Scholarship – France

This scholarship is specifically offered to students pursuing their studies in Masters in Management or Masters in Business Administration and PhD specializations in France. Several top-tier French institutions, including HEC Paris and ESSEC, accept students with this scholarship. The scholarship is merit-based and was introduced to increase the number of international students with holistically developed profiles.

3. Commonwealth Scholarships – The United Kingdom

Originated in the UK, these scholarships are majorly funded by the Commonwealth Scholarship and Fellowship Plan (CSFP). These scholarships are geared toward assisting international students (from any commonwealth wealth country except for the host). Moreover, the applicant should be unable to afford such programs in the UK without financial aid to be eligible for this scholarship.

4. Obama Foundation Scholars Program – The United States

Proactively implemented in the University of Chicago and Columbia University, the scholarship is offered to 20 students per academic year. These candidates can belong from any academic background and should have the knack to lead and thus manage a team effectively.  As the name suggests, this scholarship program was devised by the Former President of the USA, Barack Obama.

5. Microsoft Research Women’s Fellowship Programme – The United States 

All women candidates enrolled in PhD programs can benefit from this scholarship at any well-reputed university in the USA. The award is for a graduate thesis that includes a $25,000 waiver. The fellowship programme was implemented by the multinational tech giant, Microsoft and is directed towards countering and improving the presence of women in Tech Corporations. The students must be in their 4^th year of doctoral research to apply for this programme.

6. Vanier Canada Graduate Scholarship – Canada

This scholarship scheme is open to Canadian citizens and permanent residents, and international students seeking higher education in Canada. The students must hold a doctoral degree before applying for the Masters’ program as a research scholarship. Hence, this scholarship can be used to fund the doctoral research work of a successful candidate only.

7. ScuolaNormaleSuperiore Ph.D. Scholarships – Italy

This scholarship is devised and designed for all Italian and Foreign/International students pursuing doctoral programmes in Philosophy, Data Science, Mathematics, Neurosciences, and transnational governance. The scholarship covers tuition fees, boarding and accommodation, and additional funding for the research work for upto 4 years.

8. Rotary Peace Fellowships – Worldwide

The Rotary Foundation offers a fellowship programme that is only applicable to Masters Degree Programmes and Professional Degree Certifications. The scholarship will last up to 24 months, including a 2- to 3-month study field trial cycle. Covering tuition fee, the cost of boarding and shelter, round-trip fares, and field study expenses, these scholarships act as a boon to students worldwide hailing from weak financial backgrounds. However, the most crucial requirements to be eligible for this fellowship is that the candidate must be a part of a Rotary club and should hold a minimum of full-time 3-year work experience.

9. Stanford Reliance Dhirubhai Fellowship 2019 – The United States

In collaboration with the prominent Indian conglomerate Reliance Industries Limited founded by Dhirubhai Ambani, the grant covers 80% of the tuition fee. However, this grant is only available for MBA aspirants applying tothe Stanford Graduate School of Business. Being a merit-based scholarship, you will need to showcase your intellectual aptitude through your schooling and undergraduate and your GMAT/GRE scores.

10. International Leader of Tomorrow – Canada

To be eligible for this popular scholarship, you need a UBC undergraduate from UBC Vancouver or UBC Okanagan. This grant is awarded only to international students (non-residents of Canada) who have displayed exemplary leadership skills in their past endeavors. Furthermore, ILOT covers the cost of tuition fee for those who would be unable to attend the MBA program at UBC without it.

Overall, the governments of these countries have been the most supportive of allowing intakes of international students and financing their education and stay as well. Over 2 billion students worldwide have used the scholarship services mentioned above to finance their tuition and remain in school. As a result, those chances cannot be overlooked. However, the application deadlines must be kept in mind as they are limited compared to the number of applicants that apply every year. You will have to ensure that your scholarship essay/application is well-written and highlights the communication qualities you’ve acquired from your previous experiences.

Author Bio 

Abhyank Srinet is a passionate digital entrepreneur who holds a Masters in Management degree from ESCP Europe. He started his first company while he was still studying at ESCP, and managed to scale it up by 400% in just 2 years. Being a B-School Alumni, he recognized the need for a one-stop solution for B-School to get in touch with schools and get their application queries resolved. This prompted him to create MiM-Essay, a one-of-a-kind portal with cutting edge profile evaluation and school selection algorithms, along with several avenues to stay informed about the latest B-School Updates.