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Scholarship in Top B-schools

While an MBA from a top-ranked university can boost your career, however, it comes with an enormous cost that can make a hole in your pocket. Nevertheless, you can’t compromise with your career just because of that cost…

The million dollar question is how to find those scholarship programs and to maximise your chances of obtaining a great financial aid package.

There are broadly two ways that these schools determine eligibility for scholarships and fellowships. The first is based on merit, which translates to your quality as an applicant. The second approach is based on need, which makes Top b-schools to sponsor your program fully or partially.

In order to get yourself considered for the merit based scholarships and fellowships, you usually don’t need to fill out any extra forms or write more essays. Schools will eventually consider all those who apply. There are certain strategies you need to adopt while applying for the same. You need to present a story of yours through out your application (CV, transcripts, essays, recommendations, GMAT and interview).

Though most people know about the undergrad scholarships, but they don’t really know as to how they should make it to get the scholarships. There are certain guidelines one needs to follow and they can easily land up where they wanted to be.

Emphasise strong leadership skills

The selection board loves to hear about your leadership skills. So tell them what they want to hear. Demonstrating your leadership skills will make you stand in the light of a leader. Not only professional achievements but here, you may want to showcase your leadership skills in extracurricular activities. And this should reflect in your CV and essays. Also, make sure to get recommenders that validate these examples and speak of how you stand out as a leader.

Leverage strong academic performance

Never hesitate to tell your success story as these schools love to hear them. Maintaining a good academic record will help you speak more confidently and will give the panel reasons to consider your candidature. Moreover, your transcripts and grades should be translated into English and into the corresponding country’s grading scale.

Maximise your GMAT score

Another important factor will be to score higher in GMAT. This can make you a more attractive candidate for scholarship money. Schools always prefer candidates with higher GMAT score as it helps raise the school’s average. This will also create provisions for other applicants with lower scores.

Consider a programme outside the top 10

It is important to understand that one needs to aim for schools according to their realistic abilities. There are many quality programmes beyond the top-10 schools. These programmes are usually priced lower and are also more generous in giving fellowships to top candidates.

Look for scholarships targeted at underrepresented groups

Diversity is always a characteristic of MBA schools. Research and find out for schools that sponsor scholarships based on gender, race and nationality. For example the Stanford Reliance Dhirubhai Fellowship is aimed only for students with Indian origin and those who need financial assistance. There are also some really great organisations outside of business schools that offer scholarships and fellowships.

These are some of the practical aspects which will increase your chances to qualify for a scholarship and financial assistance.

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