Getting into IIMs is the perfect prelude to a high-flying career in management. But there’s a slight hiccup — it doesn’t come cheap. MBA scholarships designed specifically for these elite B-schools can be your ticket out of this confusion. You can apply for these scholarships in July-August every year after finishing the admission process.
Scholarships available for IIM Ahmedabad
The IIM Ahmedabad Special Needs Scholarship: PG students with a family income of less than Rs 15,00,000 can apply for this scholarship. The total scholarship amount is determined by the student’s family’s annual income, asset ownership and number of dependents.
PGP Alumni Endowment Funds: Nine PGP 1 & PGP/FABM II students from economically and socially challenged backgrounds receive financial assistance from this fund every year based on their financial situations. Each student is eligible for a sum ranging from Rs 200,000 to Rs.300,000. They are screened based on their applications for the Special Needs Scholarship.
Shri GC Mital Entrepreneurship Aid: A sum of Rs 200,000 is awarded each year to one graduating PGP/PGP-FABM student who intends to start his/her own business rather than participate in the IIMA placement process. It’s only available to students who have an educational loan of at least Rs 100,000 and a combined family income of less than Rs 800,000 per year. The awardee will be chosen on the basis of a business plan submitted by the applicant.
Dunia Scholarships for scholastic excellence: Dunia Finance LLC, Dubai, UAE, provides this merit-based scholarship for two PGP students (one from the first year and the other from the second year). Each scholarship is worth Rs 100,000.
T. Thomas Scholarship: Hindustan Unilever Ltd. awards this scholarship to a second-year student based on merit-cum-means criteria. The annual amount of this scholarship is Rs 100,000.
Scholarships available for IIM Bangalore
IIM Financial Aid: If a PG student's household income is less than Rs 800,000, he/she may apply for IIMB Financial Aid. Students who are experiencing financial difficulties as a result of unforeseen circumstances are also considered.
The Citi Women's Leader Award: This merit-based scholarship covers tuition for the second year. Candidates are chosen from the top 25% of the class at the end of the first year. The selection is based on their statements of purpose (SoP) and subsequent Citi Group interviews.
Societe Generale Global Solution Centre India Scholarship: This is a merit-based scholarship that covers all tuition costs. Candidates are chosen from the neediest applicants at the end of the first year, followed by interviews conducted by Societe Generale.
IIMB PGP Alumni First Batch (1976) Scholarship: The first batch of IIM Bangalore alumni seeks to assist a female student with special needs through this scholarship, which comes with a Rs 75,000 stipend, a medallion and a certificate. If no eligible female student is found, a male student is considered.
Runwal Education Trust Scholarship: This scholarship is awarded to a PGP student based on academic performance in the first year as well as his/her financial needs. The scholarship comes with a cash prize of Rs 100,000.
Yes Bank Scholarship: This Rs 200,000 scholarship is available to students who are among the top 20 students according to the admission criteria, belong to the top 20% of the batch based on current CGPA and are members of at least one student committee.
Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD): This scholarship is available for a student with at least 40% disability. He/she has to produce a disability certificate issued by a competent medical authority while applying for the scholarship. It’s worth Rs 2,55,000 per year.
Scholarships available for IIM Lucknow
The Need-based IIML Scholarships: Any candidate with a family income of less than Rs 400,000 is eligible for this scholarship. Eligible candidates are shortlisted for a merit-based reward. The scholarship covers the institute's tuition fee for an academic year.
Amrit Kala Dayal Scholarship: Only one female student will receive this scholarship, which is based on her CGPA and family income. The scholarship is worth INR 75,000.
Bharti Scholarship: Bharti Enterprises awards this scholarship of Rs. 50,000 per year for deserving and needy students whose annual income must not exceed Rs 108,000. The scholarship is valid for the entire duration of the PGP course.
The Government of India Merit-cum-Means scholarships: This scholarship is awarded to a maximum of 25% of students who meet the specified means and merit criteria. The scholarship’s monetary worth is Rs 2,200 per year.
Scholarships available for IIM Kozhikode
Sir Ratan Tata Trust Scholarship: This scholarship is available to second-year students who finished their first year of studies in the top 10% of their class. They may not, however, be receiving another scholarship or financial aid at the same time. This scholarship is given to five students and ranges from Rs 1,000,000 to 1,000,000.
Societe Generale Global Solution Centre India Scholarship: This scholarship is open to students from the lowest income bracket and covers the full expense. Candidates must submit a short write-up about themselves and participate in a personal interview. This scholarship covers the full expense of the students.
Scholarships available for IIM Indore
Need-based Financial Assistance (NBFA): This scholarship is available for students enrolled in Management and Human Resource Management programmes and the Integrated Programme in Management (IPM). All candidates should have a family income of less than Rs 9,00,000 per year. The NBFA Committee evaluates the applicants' financial needs and contacts those who are chosen for personal interviews.
Apart from these scholarships, industries and corporations offer scholarships like Aditya Birla Group Scholarships and OP Jindal Engineering and Management Scholarship for students of several IIMS and other high-ranking B-schools.