MBA on a budget? Discover These 6 Incredible Government Scholarships!

Smart scholars don’t pay full MBA fees- get scholarship instead!

An MBA degree is a guaranteed game-changer for a career boost, especially in India. But often the tuition fees and related expenses are overwhelming for an aspirant. This has been an ongoing dilemma for the parents who cannot afford to turn their child’s dream into reality. 

Fortunately, several scholarships have been introduced for the MBA students to sideline their financial burden and complete their studies from the top universities. This comes under both merit-based and need-based situations for the students and their families to make an informed decision.

Why must you consider a scholarship for an MBA?

Opportunities like this are introduced to give the deserving candidates a chance to pursue MBA studies. Keeping the MBA scholarships eligibility aside, they include the following benefits.

• Merit Recognition: Academic excellence is measured through this, and the deserving student gets recognized by the top companies of the country.
• Financial Relief: It eliminates the financial burden.
• Ray of hope for underprivileged: Students suffering from financial constraints get an opportunity to let go of the burden and focus on studies and accomplishments.
• MBA education loan burden gets reduced: heavy student loans can be waived from the picture.

Top Government Scholarships in India

1. National Scholarship for Higher Education for SC/ST students

Scholarships like these are aimed at giving an opportunity to SC/ST students who are determined to pursue an MBA in India.

Eligibility: Candidates with strong academic records

Benefits: It funds living expenses, tuition fees, and related academic fees.

Application Process: Through the official National Scholarship Portal (NSP).

2. Merit Cum Means Scholarship for Professional and Technical Courses

This merit-based MBA scholarship in India is applicable for the students with economically weaker sections, or EWS.

Eligibility: Family incomes below INR 2.5 lakhs annually are considered under this program.

Benefits: Tuition fees and maintenance allowances are covered under this criteria.

Application Process: Through the official National Scholarship Portal (NSP).

3. Post-Matric Scholarship Scheme for Minorities

It’s a need-based scholarship program provided by the Ministry of Minority Affairs.

Eligibility: Financial limitations within the minority community; students are eligible.

Benefits: Tuition fees and other academic costs.

Application Process: Through the official National Scholarship Portal (NSP).

4. AICTE PG Scholarship Scheme

Students specializing in AICTE-approved courses can avail themselves of this government MBA scholarship.

Eligibility: A valid GATE/GMAT score is required.

Benefits: Will get a stipend of INR 12,400 monthly.

Application Process: Through the AICTE portal.

5. Central Sector Scheme for Top Class Education for SC/ST Students

This program is specially designed for the SC/ST students by helping them with MBA financial aid.

Eligibility: Admission in top institutes like IIMs. 

Benefits: Living expenses and the entire tuition fee will be waived off. 

Application Process: Through the National Scholarship Portal.

6. Need-based financial assistance from IIMs

IIMs provide admission scholarships to students with financial need.

Eligibility: Strong academic background with low family income.

Benefits: Partial/Entire MBA fee waiver 

Application Process: Directly through the respective IIM Portal.

Final Thoughts

Knowledge should not go hand in hand with the financial burden. A student’s dream cannot go to waste due to lack of money. Therefore, multiple scholarship programs have been introduced privately and by the government as well. MBA scholarships for Indian students have become a way for the poor students with merit to succeed. With thoughtful programs like this, one can significantly decrease the education expenses. Ensure you are fully informed about all the relatable scholarship programs before you go ahead and apply for one.

It’s advisable to start the application process beforehand, especially for those who need an MBA college scholarship. A pre-planned direction can make your dreams come true without stressing on the financial burden.

Also Read: Private MBA colleges in India

Take the right step forward and get closer towards your better future.