Are you an MBA-aspirant who aimed to pursue a program at one of the premier institutions abroad but couldn’t do it due to their steep fees? Well, worry no more. Recently, universities like Harvard, Kellogg and Wharton started providing generous scholarships to Indian students.
What and How
An MBA program at Harvard is a dream for many students around the globe. In India, many students have the required qualifications to enrol for the course but fall short due to financial shortcomings. To solve this problem, premier institutes like Harvard, Kellogg, and Wharton are providing large scholarships to Indian students. They believe that Indian students are hardworking and competent, this is the reason they want more Indian students in their MBA programs.
The prestigious Yale University has set aside $5 million (approx. Rs. 33 Crores) on scholarships solely for Indian applicants. Students are able to bag scholarships worth $100,000 and higher from premier institutions. This is a considerable increase from previous scholarships of $10,000. Many students have also been given a ‘free ride’ or a full scholarship.
Popular consultant services like Admissions Gateway, ReachIvy, White Glow have reported a 35-40% rise in the scholarships awarded to Indian students by colleges purely on merit basis. Admission Gateway also said that there was an increase in the scholarships awarded to their clients from last year. Their clients got scholarships worth Rs.18.7 crore in 2015 and Rs. 25 crores in 2016. This is across 15 Business schools. They also pointed out that 15 students got full-time scholarships from the top 10 Business schools. In the last three years, ReachIvy’s students have obtained scholarships worth $500,000.
White Glow Consulting reported that Harvard Business School provides scholarships amounting to $31.5 million followed by Wharton at $17 million. Stanford and Michigan provide scholarships worth $16 million each.
Sara Neher, Admissions Dean at The University of Virginia Darden School of Business, said that they were lucky to receive qualified applicants from India. They are more focused on providing scholarships to Indian students.
Narayanan Ramaswamy who is a partner of education and skill development sector at KPMG, India said that an average Indian student is believed to be better than an average Western student. After taking feedback from top 100 Business schools, he came to the conclusion that quality is only one of the reasons that US Business schools prefer Indian students.
Rashmita Redkar got four scholarship offers – $120,000 from Kellogg, $100,000 from Harvard, $60,000 from Tuck and $54,000 from Wharton. Shreya Mathai got $100,000 from Harvard and $120,000 from Kellogg. Rohit Sudheendranath received $100,000 from Harvard and $120,000 from Kellogg. Swagnik Bhattacharya got an offer of $100,000 by Kellogg.
To make the application process easier for students, several of the top Business schools have adopted a common application model. Through this procedure, students can use a single form to seek aid from colleges. These generous scholarships will give Indian students the golden opportunity to pursue their higher education from the best Business schools in the world.