pursuing an mba
Don't let a lack of financial resources stop you from pursuing an MBA. Source: Allison Dinner/AFP

For many, pursuing an MBA is a highly-coveted dream. The programme is still seen as an asset in today’s competitive world for employees who want to stand out from the competition. This is all a credit to the structure of the MBA programme. It’ll give you the tools to expand your skill set and the opportunity to network with students worldwide. 

Still, it’s impossible to deny that most MBA programmes come with a hefty cost. In the US, an average two-year MBA can cost over 60,000 US dollars, with this figure only increasing due to the impact of COVID-19. 

Luckily, pursuing an MBA doesn’t necessarily have to leave you neck deep in debt. There are many sources of financial aid available to international students looking to pursue the programme. Here are three top-ranked MBA programmes with scholarships available to partly or fully fund the studies of international students. 

International Institute for Management Development (IMD)

Study Europe’s best MBA programme at the International Institute for Management Development. Source: The International Institute for Management Development

The International Institute for Management Development (IMD) is an independent academic institution has roots in both Switzerland and Singapore, allowing for a Swiss education with a global reach. 

Forbes and Bloomberg have both named its MBA programme Europe’s best MBA, a ranking that’s entirely credited to the institution’s host of diverse and expert faculty members. 

IMD offers a number of scholarship options for international students that can cover up to half of the 97,500 Swiss Francs (approximately US$105,496) tuition cost. MBA on scholarship opportunities are available for the admission deadlines in February, May, July and September

This includes merit-based scholarships for women, young leaders and according to nationality. Students can also apply for the essay-based Stewart Hamilton Scholarship and Staton Scholarship, the former of which is reserved for Latin American students, among others. For these, students will need to submit the IMD MBA Financial Aid Form along with their supporting documents. 

The University of Cambridge, Judge Business School

The University of Cambridge sits among the top three best universities in the world / Source: University of Cambridge

If there’s one university in the world that needs no introduction, it’s the University of Cambridge. It’s natural, then, that graduates from Cambridge’s MBA programme are flooded with opportunities from globally-renowned firms and institutions. 

However, on top of the rigorous application process, students also have to consider the hefty 61,000 pounds (approximately US$80,650) tuition fee. Luckily, Cambridge offers a number of scholarships through the main university and business school that will partly cover the cost of tuition. 

Scholarships are available for academic achievement and sector of work experience, as well as for women, the LGBTQIA+ community and according to nationality. For some, students will be automatically considered should they fit into any one of these categories, which they must indicate in their MBA application. Others can be applied for should a prospective student be invited to interview with Cambridge. 

Students can also opt for externally-funded scholarships. The Boustany Foundation grants £30,000 (approximately US$39,672) to successful offer holders of Cambridge’s MBA programme once every two years. The scholarship can be awarded to students from any nation, but priority will be given to Lebanese candidates. Successful applicants will automatically become members of Pembroke College

The next scholarship will be awarded for the class commencing Autumn 2022. Students wishing to apply should submit a copy of their CV (including a photograph), GMAT scores and Cambridge acceptance letter to admissions@boustany-foundation.org by May 15, 2022. 

The University of Sydney Business School

Apply for Australia’s leading MBA programme. Source: The University of Sydney Business School Facebook

The University of Sydney is consistently ranked as one of the top five universities in Australia and among the top 100 in the world, according to leading university rankings. It’s ranked first in Australia and fourth in the world for graduate employability, an impressive statistic for any ambitious student. 

It’s also host to Australia’s leading MBA programme. Taught in small class sizes, the programme is delivered in an intensive format which offers students an in-depth understanding of finance, marketing, and strategy. To top it off, students gain industry access through real-world consulting projects with prestigious firms such as Deloitte, Ernst & Young, and PwC. 

The university offers up to 100 scholarships for international students. Recipients have hailed from Bangladesh, India, Indonesia, Malaysia, Thailand, and the Philippines, among other countries. 

Scholarships range from 5,000 Australian dollars to AU$10,000 (approximately US$3,500 to US$7,100) and are awarded across up to three rounds per semester. The next round of applications for scholarships closes on January 30, 2022.