These International Students Are Getting More Scholarships

Indian business students are getting more scholarships at top b-schools around the world.

Data from Admissions Gateway, a leading international MBA admission consulting firm, finds that scholarships increased more than 40% in two years to from $6 million in 2017-2018 to $8.5 million in 2019-2020, The Times of India reports.

WHY MORE SCHOLARSHIPS?

In recent years, applications to MBA programs in the US have declined with international applicants seeing lower numbers.

According to Inside Higher Ed, 58% of programs reported domestic application declines and 74% reported international application declines.

Experts say the increase in scholarships is a strategy to attract more students as a result of the application decline.

At schools like Wharton, Fuqua, and Michigan Ross, the number and amounts of merit-based scholarships have increased over the years to attract a “diverse cohort” according to The Times of India.

“Generally, the increased number admitted international students over the past few years have amplified our current awarding structure, and newer diversity and inclusion initiatives have played a role in that increase,” Maxine Adekoya, director of student finances for Wharton MBA Admissions and financial aid, tells The Times of India.

MORE MONEY WITH SCHOLARSHIPS

According to The Times of India, along with more scholarships in general, the amount of scholarship money has increased as well.

“Two years ago, most grants were in the $30,000-70,000 range, with an intermittent $100,000 being given out,” Rajdeep Chimni, chief executive of Admissions Gateway, tells The Times of India.” Now most grants are $40,000-165,000 with more grants over $70,000, and more full $150,000 grants.”

Sources: The Times of India, Inside Higher Ed