Canada is one of the world’s top destinations for business education. Every year, international applicants from all over the world make a beeline in front of various Canadian business schools in large numbers to take admission into their full-time MBA programs.
But, the cost of an MBA program in Canada can deter many applicants, particularly Indian students, from pursuing their foreign MBA dreams. However, there are numerous MBA scholarships in Canada for international students that can be used to bring down your overall MBA costs.
From covering tuition fees and partial living expenses to full-funded MBA scholarships in Canada and university-specific offerings, bright and deserving international applicants can explore numerous options to bring down the cost of an MBA.
Let’s delve deeper
How to Apply For An MBA Scholarship in Canada?
It’s easy to apply for an MBA scholarship in Canada. In most cases, you don’t need to apply separately, as the B-school will automatically consider your admission application for a scholarship.
Follow the points mentioned below to try an MBA scholarship in Canada.
- Visit a business school’s official website.
- Check the eligibility criteria of a particular scholarship to ascertain your chances of qualifying for a scholarship.
- Keep all the necessary documents ready.
- Present a strong academic record through your GPA and GMAT score.
- Identify the areas in your application you can improve further to strengthen your chances of securing the scholarship.
- Apply for admission to an MBA program as early as possible. There is a higher chance of securing scholarships if you apply in the early rounds.
Additionally, applicants can gun for some university-specific offerings or external financial aids, which might require you to fill out a separate scholarship application, write an additional essay, etc.
7 Important MBA Scholarships for Indian Students in Canada
1. Rotman School of Management Scholarships
The University of Toronto’s Rotman School of Management offers various types of scholarships to deserving candidates. Many of these scholarships are among the best fully-funded MBA scholarships in Canada and are open to international students. Rotman offers entrance awards to almost one-third of its admitted students.
No separate application is required. You’ll be automatically considered for the scholarships during your application review. If selected, the admission committee will notify you about your scholarship amount during your acceptance into a specific MBA program.
2. Ontario Graduate Scholarship (OGS) Program
One of the best merit-based MBA scholarships in Canada, OGS Awards are available to graduate students at 19 participating schools in Ontario. You can receive a grant of C$10,000 for 2 consecutive study terms or C$15,000 for 3 consecutive study terms within an academic year.
Full-time MBA students of the participating schools can get OGS awards for two academic years. You need to apply for OGS awards during the application process. If you’re applying for an MBA program in two or more participating schools, you’ll need to apply separately for OGS awards for each b-school.
3. Alberta MBA Scholarships
Alberta School of Business in Edmonton, Canada, automatically considers all the admitted students for entrance awards during the application process. The awards, ranging up to C$ 15,000, are based on the B-school’s admission criteria. Selected candidates are informed about the award value during their admission confirmation.
Moreover, the business school offers various scholarships with different eligibility criteria to its students during the MBA program.
For example, the Radhe Gupta International MBA Exchange Award is a scholarship for MBA in Canada for Indian students awarded annually to an incoming exchange student from India to any full-time Alberta MBA program. The selection is based on academic accomplishment and the student’s involvement in promoting or representing the Alberta MBA program.
4. Schulich School of Business Scholarships
Schulich School of Business of York University, Toronto, offers a wide range of MBA scholarships for international students. The business school automatically considers all international applicants for its merit-based MBA scholarships and awards. The scholarship recipients are notified via email.
Following are some important full-time MBA scholarships for international students at the Schulich School of Business.
| Sr. No. | Scholarship Name | Value (in C$) |
| 1 | Scotiabank Scholarship in International Business | 20,000 |
| 2 | International Global Scholars Award | 10,000 |
| 3 | Dean’s International Scholarship | 6,000 |
| 4 | International Student Award | 5,000 |
5. Sauder School of Business Scholarship
The UBC Sauder School of Business in Vancouver offers a wide range of MBA scholarships for international students. All applicants are automatically considered for most gender-based and merit-based MBA scholarships upon application submission, provided they apply by the application deadlines.
The B-school can offer some of the most significant MBA scholarships for Indian students in Canada, as mentioned below.
| Sr. No. | Scholarship Name | Value (in C$) |
| 1 | Regional top talent scholarships (Asia) | 10,000- 60,000 |
| 2 | Hari Varshney Scholarship | Up to 50% of tuition fees |
| 3 | Madhu Varshney Scholarship | |
| 4 | Dean’s Entrance Scholarship | 20,000- 60,000 |
| 5 | International Talent Scholarships | 10,000- 60,000 |
6. Haskayne MBA Scholarships
University of Calgary’s Haskayney School of Business at Alberta has awarded more than C$650,000 to its MBA students in 2021. The B-school offers a wide array of entrance and continuing awards to its Daytime MBA students.
These awards, such as the Haskayne Entrance Scholarship, Academic Achievement Scholarship, or Continuing Scholarships, can range between C$ 600 to C$ 23,000 per individual. You’ll be automatically considered for these scholarships when you apply to the MBA program.
Additionally, first-year Haskayne MBA students can apply for Donor-funded scholarships ranging from C$1,100 to C$17,200 per award. You must explain your background, career objectives, and interest under your personal statement to qualify for this.
7. Ivey MBA Scholarships
Ivey Business School in London, Ontario, Canada, offers a wide range of merit-based scholarships for MBA in Canada for international students. Applicants have to complete the Financial Aid and/or Scholarship section in the B-school’s online MBA admission application. Outstanding international applicants can be automatically considered for various financial awards from C$10,000 to C$65,000.
Apart from academic achievement, the admission committee will also consider the candidates’ leadership skills demonstrated through work experience, activities, etc., to assess their scholarship eligibility.
Ivey Global Leader Awards
Every year, ten high-performing candidates are selected to receive the prestigious Ivey Global Leader Awards valuing C$ 50,000 each. International applicants residing in Asia, Africa, Europe, South America, or the Caribbean are eligible for these awards. Apart from meeting the set academic standards, you need to demonstrate a strong performance in the admission interview process to be considered for the award.
5 Reasons to Pursue MBA in Canada
1. High Quality of Education
Most Canadian B-schools have world-class infrastructures with great teaching faculty. Many of Canada’s reputed B-schools regularly feature in top B-schools worldwide by various reputed publications. Besides, MBA students get hands-on experience while dealing with real-world problems and become industry-ready by the time they complete their courses.
2. Affordable MBA Programs
An MBA program in Canada can be relatively more affordable than some top overseas MBA destinations like the USA, the UK, or other countries. Besides, most B-schools provide numerous scholarships and financial grants to deserving students, making the MBA course more affordable, resulting in potentially higher RoI (Return on Investment) on your MBA degree.
3. Cultural Diversity
Canada is well known for its diversity and multiculturalism. The country welcomes people from all ethnicities, languages, and religions to contribute equally to its growth and development. Besides, Canada has a vibrant Indian community. All these factors help a newly arrived international student to settle quickly and concentrate on their studies.
4. Professional Opportunities
Canada is a developed country with a thriving economy with numerous industries and sectors. Moreover, many large multinational companies have their operations in Canada. Therefore, you are likely to get employment of your choice with a satisfactory pay package and job responsibility after completing your MBA.
The work and immigration norms are also flexible for people who received their MBA or other graduate degrees in Canada. For instance, many MBA students can work for 20 hours a week after the first six months of their course.
5. Geopolitical Stability
Canada is a peaceful nation with a stable government. So you can concentrate on your studies without worrying about any geopolitical crisis or tension. Well, that’s not it. Geopolitical stability is a breeding ground for economic growth as it provides a conducive environment for companies to grow. This translates into better job opportunities for MBA graduates.
The lucrative combination of world-class MBA education and excellent scholarship programs can make Canada one of your top choices for pursuing an overseas MBA. So, do your homework, build a great application profile, and take the next big step in your career by moving to Canada with a scholarship-assisted MBA.
FAQs related to MBA scholarships in Canada
1. What Is the Right GMAT Score to Secure a Scholarship for MBA in Canada?
While a good GMAT score can undoubtedly help you get a strong first impression, it’s not the sole criterion. Your scholarship eligibility will be based on a holistic evaluation of your application along with your GPA and GMAT score.
Additionally, the eligibility criteria for a scholarship for MBA in Canada can vary depending on the scholarship type and the institution.
2. Where Can I Get Complete Details Regarding MBA Scholarships for International Students?
Visit the official website of the business school of your choice. You’ll find all the scholarship details in the fees or financial aid section of the website. If you want to apply for independent scholarships, visit the official website of the scholarship provider or the aid foundation.
3. Is Work Experience Mandatory for an MBA Scholarship in Canada?
Work experience is not mandatory for either admission or scholarship in most Canadian B-schools. However, if you look at the average student profile of most b-schools, you’ll notice that most full-time MBA students have at least 2-5 years of work experience behind them.
Moreover, the competition to get financial aid is tough in Canadian B-schools. Therefore, quality work experience and an overall strong application profile can significantly help you get an edge over other applicants.
4. Are there other ways to get an MBA Scholarship for Indian Students in Canada besides B-School scholarships?
International students can apply for several scholarships provided by various aid foundations, trusts, charities, and associations. For instance, Forté Fellowships for women offer MBA scholarships to deserving women candidates from all nationalities. The scholarships are jointly awarded with participating business schools like Smith School of Business and Schulich School of Business.
Besides, there are some reputed MBA scholarships for Indian students in Canada, such as the JN TATA Endowment Scholarship or the Aga Khan Foundation (India) International Scholarship Program.
