ISB is one of the top business schools in India and is a dream school for many candidates. However, a big deterrence in pursuing this dream is the cost of attendance of various programs at ISB. But, there’s a solution to this challenge i.e., a scholarship.
In this article, we have explained the different types of scholarships awarded by ISB based on the program choice and how you can improve your chances of getting one.
ISB scholarships at a glance
Most of the scholarships are either merit based or need based. If you have a good GPA or a high GMAT/GRE score you can apply for the merit based scholarship. Need based scholarship is awarded to candidates who cannot afford their MBA education at ISB.
There are also diversity based scholarships. Diversity is a well known feature of ISB. Hence, they make sure they create cohorts of students from different verticals and backgrounds to give their diversity based scholarships. ISB also does their best to provide scholarships to female candidates encouraging them to catch up with the fast growing business industry.
However getting these scholarships is quite competitive even when it is partial and does not cover your accommodation.
The merit based scholarship at ISB is given upto 40 students. Considering the average class size of 900, only 4% of the class get this merit based scholarship. Therefore, it is essential for you to put that extra effort to get the scholarship at ISB.
So, let’s take a look at the type of scholarships at ISB:
Types of scholarships at ISB
The two major types of scholarships are merit based and need based scholarships. Both these scholarships are provided upto 40 students based on certain criteria. The Admissions committee selects these candidates based on their profile and essay. Each applicant will be eligible for only one scholarship and the tuition waivers are directly adjusted against the payable tuition fee and will not be disbursed directly to the student.
All the applicants who have strong academic grades or GMAT/GRE score will be considered for the merit based scholarship by default. There are two types of merit based scholarships – full waiver and partial waiver. You don’t need to submit an additional essay. The selection of the candidates is merely at the discretion of the Admissions Committee.
If your family income is not more than 12 lakhs including your pre-ISB income, you can apply to the need based scholarship. You need to submit an essay and proof of income along with the application. But this alone does not guarantee a scholarship, the decision is made by the Admissions Committee.
There are also other scholarships like scholarships based on diversity and scholarships for international applicants. You need to submit an essay along with the application if you are eligible and would like to apply for these scholarships.
Here are a list of scholarships provided at ISB for their flagship progam (ISB PGP):
ISB PGP Scholarships
|Scholarship||Total number of scholarship provided||Scholarship amount||Criteria||Requirement||Selection process|
|Merit waivers||Upto 40||From INR 5 lakhs to full tuition fee||Awarded to eligible candidates based on overall weighted score at the end of selection process||Everyone who applies will be evaluated for this waiver. No need of a separate essay||At the discretion of Adcom|
|Need based waivers||Upto 40||INR 5 lakhs||Candidates whose family income is not more than INR 12 lakhs (including candidate’s pre-ISB income)||Need to submit an essay and proof of income along with the application||At the discretion of Adcom|
|ISB merit by diversity||Upto 10||INR 5 lakhs||Diverse profile candidates||Everyone who applies will be evaluated for this waiver. No need of a separate essay||At the discretion of Adcom|
|AIESEC – ISB waivers||Upto 3||INR 5 lakhs||AIESEC alumni||Need to submit an essay along with the application||At the discretion of Adcom|
|International diversity||Upto 30||Varies according to the candidate’s profile||International applicant||Need to submit required proof along with the application||At the discretion of Adcom|
|Bridge to India||Upto 5||INR 5-10 lakhs||Indian origin students currently working abroad||You need to submit an essay along with the application||At the discretion of Adcom|
Scholarship provided after PGP admissions are rolled out
There are also certain scholarships which are provided after the PGP admissions are rolled out. These are either need based or merit based scholarships. The member or the team who institutes these scholarships decides on whom to provide the financial assistance. All the need based scholarships require you to submit an essay based on which the decision is taken.
Here is the list of scholarships provided after the PGP admissions are rolled out.
|Scholarship||Type of scholarship||Provided by||Scholarship provided to|
|Ramesh C. Khanna Nurture India Scholarship||Need based||Amit Khanna, alumnus, and Founder, Phoenix Holdings||Students who are the only earning members in their families.|
|PGPMAX Co 2012 Scholarship||Need based||Alumni of PGPMAX Class of 2012||Applicants coming from the social sector.|
|Bajaj Auto Scholar||Merit based||Bajaj Auto||3 Meritorious PGP students|
|Jagannath Arora Scholarship||Need based||Neeraj Arora, alumnus of PGP Class of 2006||PGP students|
|Visiting faculty Scholarship||Need/merit-based||–||One International student every year|
|Shapoorji Pallonji Tuition Grant||Need/merit-based||Shapoorji Pallonji||Meritorious PGP students, every alternate year (Class of 2022, 2024, etc.)|
|Aditya Shembekar Scholarship||Need/merit-based||The alumni of PGP Class of 2013, Aditya’s family and friends||One PGP student every year|
|Anonymous Donors||Need based||–||PGP students|
|Alumni Endowment Fund Scholarship||Merit based||ISB Alumni team||2 meritorious PGP students every year|
|Deepak Parayanken Scholarship||Merit based||Deepak Parayanken, alumnus of PGP Class of 2011||2 meritorious PGP students every year|
|AT&T Scholarship||Need /merit-based||AT&T Global Network Services||Two tuition waivers to the students of PGP programme of which one will be a female student|
|Lakshya Scholarship for Women||Need /merit-based||Bharat Forge Limited||Female student of PGP programme every year|
|Aakash Tuition Grant||Need /merit-based||Aakash Chaudhry, alumnus of PGP Class of 2004||PGP students|
Scholarships given to graduating students of ISB
ISB also provides scholarships to the graduating students. ISB’s Develop India Scholarship is to help graduating students of ISB progressing into social impact startups, NGO, and returning back to the public sector/government sector.
For further queries about the PGP scholarship, connect with ISB
Phone : +91 40 7132 7438
Email : email@example.com
ISB PGPPRO scholarship
There are merit based, need based and diversity based scholarships for the PGPPRO students.
Merit based and need based scholarships cover upto INR 10 lakhs of the tuition fees and the diversity based scholarship covers upto 50% of the tuition fees.
If you are an applicant from the NGO/ PSU/ Armed Forces background, then your application will be considered for the diversity based scholarship by default.
However it is better to apply early as the number of scholarships are limited and provided at the discretion of the school.
If you want to avail the need based scholarship, you need to check the criteria and indicate it in the application along with an essay.
In the essay you need to provide details on how you meet the scholarship criteria, what will be your contribution to the program and why you are eligible for the scholarship. The essay has a limit of 250 words.
Here is the criteria to avail scholarship for PGPPRO
- Demonstrates financial need
- Community minded and socially responsible
- Strong academic and professional profile
- Demonstrates leadership skills
- Potential for future exceptional performance
- Potential to become an excellent ambassador for ISB as a student and as a member of the alumni network
- Women Leaders and professionals
- Spouse of PGPpro alumnus
- Defense Personnels
- Children and Spouse of Martyrs
Although these scholarships are a way to reduce your expense it does not cover the admission fee, travel expense, and application fee.
For further queries reach out to the PGPPRO support team
Phone : +91 7036031777
Email : firstname.lastname@example.org
ISB PGPMAX scholarship
There are a limited number of merit based scholarships for the PGPMAX students. The competition for this scholarship is really high, so it is better to apply early if you are eligible.
These scholarships cover upto 20 to 35% of the tuition fees. The Admissions Committee evaluates the application for availing scholarship based on the following criteria:
- Socially responsible
- Strong academic profile
- Strong professional profile
- Demonstrate leadership skills
- Spouse of a PGPMAX alumni
- Potential to become an ISB ambassador
- Women professionals
- Working in public /social sector enterprises
For further queries, reach out to the PGPMAX support team
Phone : 040-71327428
Email : email@example.com
Now that you know what are the different types of scholarships available for the different programs at ISB, let’s discuss how you can increase your chances of getting a scholarship.
How to get your target ISB scholarship?
As discussed earlier with just 4% of applicants receiving scholarships from ISB, what are your chances and how can you put that extra effort to get a scholarship.
To increase your chances of getting a scholarship, you need to
Let’s discuss these points in detail
Boost your GMAT/GRE score
One of the vital factors in shortlisting your application for the scholarship is the GMAT/GRE score. Hence make sure you have a strong score. Take a retest if required. If you are working or studying full or part-time, it may be advisable to start your preparations a year ahead of the test date. If you have more time on your hands, you may begin later.
Be consistent in your career goals
Another decisive factor determining the final result of a scholarship application is the consistency in your career goals. If you have a clear career goal and if you have something which proves you have taken a step towards it, the admissions committee will be aware of your self awareness and motivation which in turn increases your chances of getting a scholarship.
Create a strong professional profile
If you are a working professional, creating a strong professional profile with a track of your achievements will help you increase your chances of getting the scholarship. Hence as soon as you decide to pursue an MBA at ISB start working on creating a strong professional profile so that by the time you submit your application you have enough points to convince the admissions committee about your ability.
We at ISBmantra with a team of former ISB admissions officers can guide you to create a well rounded profile. Get in touch with us for free to get a free profile evaluation.
Most of the merit based scholarship offers are generous in the first round and depletes as the admission round progresses. Hence it is advisable to apply in early rounds of the ISB MBA admission.
Write a compelling essay
It is not just applying early but also how well you present your essay. Read the scholarship eligibility criteria carefully. Make sure you explain how you meet all the requirements in the essay. It is also important for you to highlight something which will add value to the essay other than fulfilling the requirements.
You should explain why you deserve the scholarship so strongly that the admissions committee can’t find a reason to reject your application for availing the scholarship.
Remember winning a scholarship is not based on luck, it is mainly based on the extra effort you take. So do it and reduce the financial pressure of pursuing an MBA.