Best MBA Scholarships in Canada in 2024

Pursuing an MBA abroad comes with a hefty price tag. If you are planning to pursue an MBA abroad but find the cost of studying in the USA or UK overwhelming, Canada can be your best alternative. Canada has emerged as a prominent study-abroad destination for Indian students for various reasons that include renowned universities, top-notch education quality, post-study work opportunities, and a welcoming environment among others. This blog will cover complete details of MBA scholarships in Canada for Indian students, offering invaluable resources for aspirants. Join us as we uncover, details of the application process to study MBA with scholarships, types of scholarships, and more to kickstart your educational journey.

Cost to Study MBA in Canada

The average tuition fee for an MBA in Canada is around 30,000 CAD - 40,000 CAD per year. The cost of an MBA for Indian students is 30,00,000 INR - 40,00,000 INR per year. However, the exact cost may vary depending on various factors such as choice of university, type of program, etc. Public universities in Canada have more affordable tuition fees compared to private B-schools. Moreover, the tuition fee for a part-time MBA is less due to its longer duration while it is higher for an executive MBA program as it is designed for working professionals. International students must consider the cost of living in Canada which is around 10,000 CAD to 12,000 CAD annually depending on individual preferences. 

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Types of MBA Scholarships in Canada

Now that you know the cost of an MBA in Canada, let's discuss financial assistance for international students. MBA scholarships in Canada, especially for Indian students, are popular and widely available, helping you graduate without heavy financial burdens. Here are the types of MBA scholarships:

• Merit-based scholarships: Awarded based on academic records, leadership skills, work experience, and other factors.
• Need-based scholarships: Granted based on financial need to support and encourage meritorious students.
• Government/private organization scholarships: Offered by the Canadian government and private organizations to attract talented international students.

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Top MBA Scholarships in Canada for Indian Students 

There are multiple MBA scholarships in Canada awaiting international scholarships. Most scholarships apply toward tuition fees for pursuing an MBA. Highly qualified candidates may be eligible for full tuition scholarships that cover the complete cost of an MBA. Take a look at some of the top MBA scholarships in Canada for Indian students funded by private organizations:

Go Global MBA Scholarship:

• The Go Global MBA scholarships provide 7,000 USD towards tuition fees for students enrolled in an MBA degree abroad.
• To be eligible for the scholarship, students must meet the entry requirements for the chosen B-school.
• Applicants must demonstrate academic achievements, English language proficiency, and up to 5 years of professional work experience.
• Students are also required to submit an elevator pitch and a short essay to support their application.
• The scholarship committee seeks candidates with an entrepreneurial spirit, leadership skills, and the potential to make a difference in the industry and make the world more sustainable.

FINCAD Women in Finance Scholarship:

• Female candidates pursuing postgraduate studies in finance at an accredited institution can benefit from the FINCAD Women in Finance Scholarship.
• The Women in Finance scholarships are awarded by FINCAD. This Numerix company is committed to supporting talented women in building careers in financial asset management, market risk management, and derivatives finance.
• The scholarship is valued at 20,000 USD with 50% paid directly to the recipient and the remaining 50% paid directly to the educational institution towards tuition fees.
• The scholarship has a rigorous selection process and only one recipient is chosen for the award.
• The holder must not have more than 10 years of work experience in total and up to 5 years of work experience in finance.

Read Also: SAT Scholarships for International Students in Canada

Ontario Graduate Scholarship:

• The Ontario Graduate Scholarship (OGS) is awarded to students pursuing graduate studies at a publicly-assisted university in Ontario.
• OGS are merit-based scholarships open to graduate students in all fields of study.
• To apply for the scholarships, students will have to submit an online OGS application form along with transcripts from post-secondary institutions, records of previous awards, publications, conferences, a plan of study, and two academic references.
• Applications are usually available in October.
• Some of the participating Ontario schools include the University of Toronto, Ryerson University, York University, University of Ottawa, etc.
• Recipients of the scholarship receive 5,000 CAD per session tenable for one year.

University-Specific MBA Scholarships in Canada

Scholarships provided by B-schools in Canada are the most convenient funding option for international students. Most universities provide entrance scholarships to admitted students based on the strength of their application. Here are the details of MBA scholarships in Canada provided by popular B-schools:

Rotman School of Management Scholarships:

• International students at the Rotman School of Management are eligible for several scholarships.
• The Joseph L. Rotman scholarships are full tuition value MBA scholarships and the most prestigious award at the university. The scholarships are annually awarded to two outperforming students.
• Approximately one-third of the students receive entrance scholarships ranging from 10,000 CAD to 90,000 CAD based on the admission application.
• The Rotman School also provides a scholarship for Women in Business that covers half-tuition for females who demonstrate a record of strong academic and professional achievements.

UBC Sauder School of Business Scholarships:

• The Dean’s Entrance Scholarship offered by UBC Sauder School of Business is highly competitive and awarded to students with exceptional academic records, community involvement, and leadership skills.
• The scholarship provides 20,000 CAD to 60,000 CAD for international students.
• Sauder School of Business rewards top-talent international MBA students with scholarships ranging between 10,000 CAD to 60,000 CAD. 
• Various other scholarships such as Women in Business Leadership Scholarships, Responsible Business and Community Spirit Scholarship, Global Leadership Awards, etc. are also available for international students at UBC.
• All international students who apply by the early application deadline with all necessary supporting documents are eligible for the Early Entrance Award worth 1,500 CAD.

University of Alberta MBA Scholarships:

• The University of Alberta offers various entrance awards and scholarships to MBA students.
• All admitted students are automatically considered for entrance awards up to 15,000 CAD based on fulfilling the admission criteria.
• Most UAlberta MBA Scholarships are awarded during the program following a separate application.
• The Alberta Graduate Excellence Scholarship worth 12,000 CAD is awarded to students who demonstrate academic excellence and have earned a GPA of 3.3 or above in the current program.

Other Popular MBA Scholarships in Canada:

How to Apply for MBA Scholarships in Canada?

Applying for MBA scholarships in Canada involves thorough preparation. Here’s a brief outline:

• Research: Identify available scholarships through resources like GyanDhan.
• Shortlist: Choose scholarships that align with your academic and career goals.
• Details: Gather information on eligibility, application processes, and deadlines.
• Apply Early: Increase your chances by applying early.
• Prepare Documents: Common requirements include:

• 
  Academic transcripts
• 
  Proof of English proficiency
• 
  GMAT scorecard (if required)
• 
  Recommendation letters
• 
  Personal statement
• 
  Updated resume

• Proofread: Review all materials and seek feedback.
• Track: Monitor your application status and respond to offers.

An MBA in Canada is a completely transitional experience for international students preparing them for dynamic careers in the ever-changing market. MBA graduates in Canada have commanding salaries starting from 40,000 CAD per year. Pursuing an MBA in Canada is a great investment in the future made accessible through scholarships for international students. For guided assistance, you can contact GyanDhan experts and sort out your loan and financing needs to study in Canada. Apart from that if you want to explore more scholarships than visit GyanDhan’s scholarship portal.

Read Also:

• Scholarships to study in Canada for Indian Students
• Doctorate Scholarships in Canada 2024
• GMAT Scholarships in Canada for MBA Aspirants
• MPhil Scholarships in Canada 2024

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