What is the minimum GMAT score to secure a full scholarship?

Aim for a 740+ GMAT score to be competitive for full scholarship consideration.

Does the GMAC offer any scholarships or financial aid?

No, the Graduate Management Admission Council (GMAC), the organization responsible for the GMAT exam, does not offer any scholarships or financial aid directly.

What is the maximum amount of scholarship that one can get from the GMAT score?

There’s no single maximum scholarship amount tied solely to the GMAT score. Top schools offering full scholarships typically require scores above 740. Partial scholarships vary significantly based on school, program, and financial need

Can I get a full scholarship at Harvard University with high GMAT scores?

Unfortunately, while a high GMAT score can significantly increase your chances of receiving financial aid at Harvard, Harvard University itself does not offer any full-ride scholarships. However, they do offer significant need-based financial aid that can cover 100% of your demonstrated financial need, including tuition, fees, and living expenses. This means that your ability to get a full scholarship depends largely on your family’s income and assets

Can I get a scholarship for GMAT?

Getting a 100% scholarship depends on the candidate’s GMAT score, GPA, and the organization’s policy. Candidates with excellent work experience, profile, and GMAT scores above 750, can get a 100% scholarship.

GMAT Scholarship: Best GMAT Scholarships for Indian Students in 2025

Are you an Indian student aiming to pursue an MBA abroad but worried about the high costs? GMAT scholarships could be your golden ticket to a world-class education without the financial burden. In this blog, we will explore the top GMAT scholarships available in 2025, understand the eligibility criteria, and learn how to maximize your chances of securing one.

Key Highlights:

The Stanford Reliance Dhirubhai Fellowship and the Joseph Wharton Fellowship are some of the top GMAT scholarships for Indian students.
GMAT scholarships cover part of the tuition or provide full financial support, including living expenses.
With a GMAT score of 730+, you can receive scholarships ranging from USD 10,000 to USD 150,000 (INR 8.4 to 13 Lakh).
To qualify for GMAT scholarships, you need high GMAT scores, strong academic performance, and relevant, substantial work experience.
To increase your chances, aim for a GMAT score higher than the school’s average; a 730+ is ideal for top-tier b-schools.
Professional associations and foundations also award GMAT scholarships to MBA aspirants based on their specific criteria.

What is a GMAT Scholarship?

A GMAT scholarship is a merit-based award determined by GMAT scores. These scholarships are financial assistance grants that cover candidate's education expenses during their MBA program.

Indian students can get GMAT scholarships based on either financial or merit-based needs. They may cover all or part of a student’s tuition fees. Achieving a high GMAT score is necessary to qualify for the benefits.

If you’re an Indian student looking to reduce financial burdens, GMAT scholarships will be particularly beneficial for you.

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What are the Different Types of GMAT Exam Scholarships in India?

There are three major types of GMAT scholarships offered by universities: Need-based scholarships, merit-based scholarships, and external scholarships. These types are explained in detail below:

Merit-based GMAT scholarships: These scholarships are awarded to candidates with exceptional GMAT scores, academic achievements, or professional accomplishments. They recognize outstanding performance and potential for success in business school.
Need-based GMAT scholarships: These scholarships are offered to candidates who demonstrate financial need. They help reduce the burden of tuition and other expenses, ensuring that talented students can pursue an MBA regardless of their financial background.
External GMAT scholarships: These scholarships are provided by organizations, foundations, or companies outside of the business school, these scholarships may have specific eligibility criteria or require a separate application process. They offer additional financial support to GMAT test-takers.

Suggested: GMAT Exam Dates

Top GMAT Scholarships Available in India

GMAT scholarships for Indian students planning to pursue an MBA abroad are highly competitive and prestigious. These scholarships can significantly reduce the cost of an MBA program, making global education more accessible. Top GMAT scholarships are explained below:

Name of the GMAT Scholarships	Eligibility Criteria	Award Amount
Stanford Reliance Dhirubhai Fellowship	5 students who will return to India after the program ends to work for an Indian organization for at least two years	USD 150,000 (INR 1,25,91,810)
Joseph Wharton Fellowship	Students with excellent professional, personal, and academic records	USD 80,432 (INR 67,51,890)
DR. Tahir Fellowship	Students of undergraduate degree programs from an Asian country	USD 40,000 (INR 33,57,810)
The Indian Trust Fellowship	Two fellowships are provided by the University of Chicago Booth School of Business every year.	USD 10,000 (INR 8,39,450)
Forte MBA Fellowship for Women	Female students of MBA based on merit	USD 28,263 (INR 23,72,540)

Suggested: GMAT Eligibility

Top MBA Programs Offering GMAT Scholarships

The GMAT exam scholarships offered by top business schools are highly sought after, providing financial assistance to deserving candidates. These scholarships are typically based on merit, strongly emphasizing high GMAT scores, academic excellence, and leadership potential. The validity and award amounts vary by school, often covering partial or full tuition fees, and sometimes even providing a stipend for living expenses.

Name of the University	Scholarship Type	Eligibility	GMAT Scholarship Award Size
Kellogg School of Management	Kellogg Scholarship Kellogg Finance Network Scholarship	Full-time MBA Student MBA Finance Student	variable
Wharton School	Joseph Wharton Fellowship Social Impact Fellowship Emerging Economy Fellowship	Students with exceptional profiles and excellent background The aspirants who want to serve non-profits Candidates of a 2-year MBA program	USD 20,000 (INR 16,78,910)
Harvard University	Horace W.Goldsmith Fellowship HBS Fellowship Program	1st year MBA student with experience in non-profit Need-based	USD 10,000 (INR 8,39,450) USD 40,000 (INR 33,57,830) / per year
Stanford Graduate School of Business	Stanford Reliance Dhirubhai Fellowship	For students who will return to India and work for at least 2 years	USD 150,000 (INR 1,25,91,880)
INSEAD	INSEAD need-based	Candidates have to demonstrate the requirement for financial aid. However, those from economic and weaker sections will be preferred	USD 13,104 (INR 11,00,020)
Tuck School of Business	The Willard M. Bollenbech Jr. 1949 Fund MBA Fellowship for women	Candidates with extraordinary academic backgrounds based on merit	USD 10,000 (INR 8,39,450) - USD 30,065 (INR 25,23,830) per academic year
London Business School	B.K Birla MBA Scholarship	10 students in business programs	variable

Kellogg School of Management

Kellogg provides both merit-based and need-based scholarships to its MBA students. Merit-based scholarships are awarded based on academic excellence, professional achievements, and leadership potential. Diversity scholarships support underrepresented groups in business education. All applicants are automatically considered for these scholarships during the admission process.

Merit-Based Scholarships
Need-Based Scholarships
Diversity Scholarships

Wharton School

Wharton offers a range of fellowships to exceptional students based on academic achievements, leadership qualities, and professional development. Applicants are automatically considered for these fellowships upon admission.

Joseph Wharton Fellowships (for outstanding academic and professional records)
Emerging Economy Fellowships (for students from developing countries)
Social Impact Fellowships

Harvard Business School

Harvard Business School provides need-based fellowships to ensure financial constraints do not hinder talented individuals. Approximately 50% of HBS students receive these fellowships, with awards averaging $42,000 per year. The school also offers scholarships for specific backgrounds or industries.

HBS Need-Based Fellowships
Horace W. Goldsmith Fellowship (for students interested in social enterprise)
Robert S. Kaplan Life Sciences Fellowship (for students with backgrounds in life sciences)
Zuckerman Fellows Program (for students in public service-related fields)

Stanford Graduate School of Business

Stanford GSB offers need-based fellowships and specialized scholarships to help students finance their MBA education. The average fellowship is approximately $40,000 per year.

Stanford GSB Need-Based Fellowships
Knight-Hennessy Scholars Program (full funding for exceptional students across graduate programs, including MBA)

INSEAD

INSEAD offers a variety of scholarships to its MBA students, including need-based, merit-based, and diversity scholarships. The school provides over €6 million in scholarships annually, with individual awards ranging from €5,000 to €25,000. Applicants can apply for multiple scholarships, and each has specific eligibility criteria.

INSEAD Need-Based Scholarships
INSEAD Diversity Scholarships
INSEAD Forte Fellowships for Women
INSEAD Louis Franck Scholarships

Tuck School of Business

Tuck provides both need-based and merit-based scholarships to its students. Approximately 65% of Tuck students receive scholarship assistance, with awards ranging from $10,000 to full tuition.

Tuck Need-Based Scholarships
Tuck Merit-Based Scholarships
Consortium Fellowship (for promoting diversity in business)
Reaching Out MBA Fellowship (for LGBTQ+ students)

London Business School

London Business School offers a wide range of scholarships to support its diverse student body. These include merit-based awards and scholarships aimed at increasing diversity.

London Business School Fund Scholarships
Women’s Scholarships
Laidlaw Women’s Leadership Fund
Sloan Awards (for experienced professionals in the Sloan Program)

Each of these institutions is committed to making business education accessible through various scholarship opportunities, ensuring that financial barriers do not impede talented individuals from pursuing their MBA aspirations.

How to Apply for GMAT Scholarship?

Here’s a step-by-step guide to applying for a GMAT scholarship:

Step 1 - Research available scholarships by looking into those offered by business schools, testing centres, and other organisations, ensuring you meet the eligibility criteria.
Step 2 - Prepare a competitive GMAT score as per your school as many scholarships are awarded based on performance.
Step 3 - Gather all required documents including your GMAT score report, academic transcripts, essays, recommendation letters, and proof of financial need.
Step 4 - Write a strong personal statement or essay that clearly outlines your motivations, career goals, and reasons for deserving the scholarship.
Step 5 - Submit your application along with all required documents before the specified deadline.
Step 6 - Follow up on your application and prepare for any interviews that may be part of the scholarship selection process.

Eligibility Criteria for GMAT Scholarship

When applying for a GMAT scholarship, understanding the eligibility criteria is crucial to ensure your application stands out. These scholarships typically target candidates who excel in their GMAT scores and demonstrate strong academic backgrounds, leadership potential, and sometimes financial need. Knowing these eligibility criteria can help you better prepare and position yourself as an ideal candidate.

GMAT Score: A high GMAT score is the primary requirement. Scholarships may have a minimum score threshold, often in the top percentiles.
Academic Excellence: While a high GMAT score is the primary requirement, some business schools also take academic achievements and GPA into account. Thus, strong academic performance in undergraduate studies, often reflected in a high GPA, can be a key factor.
Work Experience: Relevant and substantial work experience, especially in leadership roles, can strengthen your scholarship application.
Personal Essays or Statements: A well-crafted essay or personal statement explaining your goals, achievements, and why you deserve the scholarship is often required.
Letters of Recommendation: Strong endorsements from professionals or academic mentors can significantly enhance your application.

How to Find the Right GMAT Scholarship?

There are many GMAT scholarships available, just waiting for you to find them! Before you start looking, here are some helpful tips to increase your chances of success:"

Yocket Counselors: Don’t be afraid to ask for help! Yocket counselors can guide you through the GMAT scholarship application process and smoothen out any bumps.
Search Engines: Tools are your best friend! Websites like scholarships.com and studentscholarshipsearch.com act like scholarship search engines, helping you filter through options based on your specific needs.
Google Alerts: Stay ahead of the curve by setting Google alerts for “business fellowships” and “business school scholarships.” This way, you’ll receive notifications whenever new opportunities pop up.
University Notifications: Be proactive and subscribe to scholarship notifications from your desired universities. This ensures you don’t miss out on any specific scholarship offers.
Building Your Profile: Craft a strong profile by showcasing your academic achievements, leadership qualities, work experience, and clear goals. Remember, universities often consider both your overall goals and GMAT scores when awarding scholarships.

Mistakes to Avoid When Applying for a GMAT Scholarship?

Do not write a generic statement of purpose (SOP).
Don’t avoid the guidelines specified in the application process by the various universities.
Don’t be inconsistent.
Be clear about your future plans and expectations

What are the Benefits of Having a GMAT Scholarship?

Having a GMAT scholarship can significantly reduce or even cover the cost of tuition, allowing you to focus more on your studies and career goals rather than financial stress. Additionally, earning a scholarship can enhance your resume, showcasing your academic excellence and making you a more attractive candidate to future employers. A GMAT scholarship offers benefits beyond just financial assistance. Here are the notable benefits of GMAT scholarships for Indian students:

Acquiring a GMAT scholarship alleviates the financial strain associated with pursuing higher education.
Obtaining a GMAT scholarship enhances the credibility of candidates’ resumes and serves as a notable achievement during their job search.
GMAT scholarships help candidates avoid or minimize student loan obligations, which otherwise burden them over an extended period.

How to Increase Your Chances of Getting a GMAT Scholarship?

Securing an GMAT scholarship at a top business school requires strategic preparation and a strong application. Here are some steps to enhance your chances:

Achieve a High GMAT Score: Many merit-based scholarships prioritize applicants with exceptional GMAT scores. Aiming for a score above the average accepted by your target schools can make you a strong candidate. For top-tier programs, a score of 730 or higher is often advantageous.
Research Scholarship Opportunities: Different business schools offer various GMAT-based scholarships. For instance, University College Dublin’s Smurfit Graduate Business School provides GMAT MBA Scholarships for students who score above 700, offering financial aid up to the full cost of tuition.
Prepare a Strong Application: While a high GMAT score is crucial, other aspects of your application, such as your personal statement, letters of recommendation, and professional experience, also play a significant role in scholarship decisions.
Apply Early: Some scholarships are awarded on a rolling basis, so submitting your application early can increase your chances of receiving financial aid.
Consider External Scholarships: In addition to school-specific scholarships, explore opportunities offered by external organizations, foundations, or companies that provide financial support to MBA candidates based on GMAT scores and other criteria

By focusing on these areas, you can significantly increase your chances of receiving a scholarship at a top business school.

From the Desk of Yocket

Securing a GMAT scholarship can be a game-changer, easing the financial burden of pursuing an MBA abroad and opening doors to top business schools. By understanding the types of scholarships available and how to qualify, you're already on the path to success. But don’t navigate this journey alone, expert guidance can make all the difference.

If you're looking for personalized support to boost your scholarship chances and secure your dream MBA, Yocket Prep is here to help. Schedule a study abroad consultation call today, and let our experts guide you toward achieving a great GMAT score, winning scholarships, and securing a spot at a top MBA program. Your journey to success begins with Yocket Prep!