Top 5 MBA scholarships for Indian students for study in the USA

Cost of pursuing an MBA course in the US can be major hurdle for prospective students. The good news is that there are a number of MBA scholarships that can help with the funding. Here is a list of a few fellowship programmes that Indian students wanting to pursue an MBA in the US can apply for.

Many Indian students aspire to study in the US, especially when it comes to pursuing a post graduate degree in management. A lot of times their aspirations remain a dream because of the high cost of education in the US. Taking loans is one way of funding a management course in the US, another more viable way is through an MBA scholarship. Most management schools in the US offer scholarships making it easier for deserving candidates to live their dream.

Here is a list of scholarships offered by some the top business schools in the US.

Stanford Reliance Dhirubhai Fellowship

Setup by Reliance Industries Ltd; the fellowship is intended for Indian students needing monetary assistance for studying MBA at Stanford university. Under this scheme a total of 5 fellowships are awarded annually.

Eligibility criteria

Applications are scrutinized and candidates selected based on the following criteria -
  • Applicants will be eligible for the fellowship provided they meet every condition mentioned on the Stanford Graduate School of Business application.
  • Fellowships are granted purely on merit.
  • Selected candidates will have to show dedication towards the cause of developing the nation.
  • They must also be in actual need of financial assistance.
  • They will have to sign a bond agreeing to return to India for a period of 2 years, after completing the MBA course, and work for an Indian business.


Tuition and other allied fees for the two-year MBA programme will be borne by Reliance Industries Ltd via Stanford Reliance Dhirubhai Fellowship.

Important calendar

The tentative schedule for the Stanford Reliance Dhirubhai Fellowship applications is as under -
  • April to June – Application forms can be submitted online
  • July – Announcement of shortlisted candidates
  • July to October – Candidates submit application to Stanford University for admission to an MBA programme
  • December – The university releases list of selected candidates
  • September of the following year – Fellowship winners who've been selected by Stanford join the university and are initiated into the fellowship programme

Booth School of Business – Chicago University

There are a few funding options available to students wanting to pursue an MBA course at the Booth School of Business. Details are furnished below –

The Indian Trust Fellowship

This fellowship grants meritorious students a total sum of $10,000 towards tuition fees for a full-time MBA course at Booth School of Business. Only two candidates are eligible for the fellowship each year.


  • Candidates with academic excellence, leadership qualities, and extracurricular achievements are considered for the grant
  • Candidates interested in women empowerment in businesses are looked at favourably
  • Students who have gained admission in the university can apply
  • The grant is given to Indian students living/working in India when applying to the university


Procedural details for the fellowship are not available. However, applicants may send in their application for review to contact Office of Admissions at admissions or call the office at 773-702-7396 for clarifications.

Akhtarali H. Tobaccowala Fellowship

A fellowship introduced just 4 years ago, in memory of the late Akhtarali H. Tobaccowala who graduated from the business school in 1952. The foundation offers scholarships worth $1,000,000 to Indian students enrolling in a full-time MBA programme in the Chicago Booth School of Business.


Candidates need to fulfil two criteria to be eligible for the fellowship -
  • Aspirants must be pursuing full-time MBA programme at Booth University
  • Candidate should be residing in India. The grant is not available to NRI and PIO students

Application Process

All applications for the fellowship must be directed through the university. Aspirants can send in their bio-data to

Wharton School of Business Grants

The Wharton School of Business offers a range of scholarships to academically proficient students seeking admission in full-time MBA programme at the institution. These scholarships are granted to students with financial limitations. Here are some of the funding choices –

Emerging Economy Fellowships

Here is a scholarship designed from students belonging to nations labelled as 'emerging economies'. India falls under this category, making it possible for Indian students to avail of this grant.


Applications for the scholarship are invited from first year MBA students at Wharton
  • You are eligible if you're studying a full-time MBA course at Wharton
  • Aspirants with brilliant academic records paired with good leadership qualities and overall excellence stand a better chance of being awarded the grant

  • Application process

    There is no formal process as such. The application is submitted along with the admission forms.

    Joseph Wharton Fellowships

    The grant is named after the founder of the university and given to students with exceptional academic performance, teamed with outstanding professional/personal records.


    All students enrolling in Wharton become eligible for the fellowship.


    Students apply for the fellowship when applying for admission to the university.

    Dartmouth College - Tuck School of Business

    The Tuck School of Business offers a number of scholarships to deserving students and those with financial constraints. Some of these scholarships are –

    Need & Merit Based Scholarships

    The business school is known to offer scholarships based on merit and need to international students. The amount for these scholarships varies from an annual sum of $5,000 to covering the tuition fee for the entire programme. Students who qualify for the scholarship are intimated at the time of admission.


    Students enrolled in current courses at the university are eligible for the scholarships. The winning candidates are judged based on their scholastic performance, professional achievements and leadership skills.


    • Aspirants will need to submit an application specific to Tuck School of Business Scholarships along with the admission application
    • There are specific dates by when these applications need to be submitted
    • Additionally, students are required to submit an epigrammatic essay on their achievements thus, elaborating why they must be considered for the scholarship

    Center for Business and Society

    The Center for Business and Society has founded 2 programmes aimed at providing financial aid to deserving students.

    Tuck Gives

    Tuck Gives offers monetary support to scholars preparing to get into summer internships programmes run by public sector or non-profit organizations.

    Tuck Non-profit Fellowship

    The Tuck Non-profit Fellowship programme offers multipronged assistance to students graduating from Tuck who join state-owned or non-profit organizations. The assistance includes monetary help, guidance and net-working support. Beneficiaries can utilize the fellowship grant to repay study loans.


    Students aspiring to win either of the above Tuck fellowships must submit an application along with a succinct biographical essay, for them to be considered for the grants.

    Watch out for information on more scholarships for Indian students wanting to do an MBA course in the US.

    Article by Juana
    Juana is a freelance writer publishing with Constant Content and sister sites of Techulator. She writes on a variety of subjects that interest her. She is a voracious reader and that helps her keep abreast with the latest in technology. She holds a Bachelor of Arts degree in Eng. Lit, is a mom, a wife, a homemaker and a qualified teacher.

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