A Guide to MBA Scholarships in the UK

If you want to pursue an MBA degree in the UK, you may be wondering how you can finance your education. Paying for the entire degree out of pocket may not be possible as MBA programs can be expensive, and not everyone has the financial means. Thankfully, there are several MBA scholarships available in the UK that can help you pay for the cost of tuition and other expenses. In this blog, we'll tell you about some of the different types of MBA Scholarships in the UK and give you tips on how to get them. 

What are MBA Scholarships in the UK?

Students who have good grades, leadership potential, and have taken study abroad exams are given scholarships in the UK. You will also have the opportunity to get fully-funded MBA scholarships in the UK for international students. 

Getting an MBA scholarship in the UK can be competitive and hard, and students usually need to provide academic records, letters of recommendation, and personal statements. Universities, business schools, and private groups offer scholarships to study for an MBA degree in the UK. There are different types of MBA scholarships available for students. The fully-funded MBA scholarships in the UK for international students provide financial support to those who may not have the resources to pursue an MBA program. 

Types of MBA Scholarships in the UK

There are a number of types of MBA scholarships available in the UK, all the way from general scholarships to those specific to a particular school or program. Here are some of the most common types of MBA scholarships in the UK:

1. Merit-Based Scholarships

Merit-based scholarships are awarded to those candidates who have extraordinary academic performance. Other factors like leadership experience or community involvement also play a part. These scholarships in the UK for students who want to study MBA are very competitive and need students to have a high GPA or standardized test scores and submit essays along with letters of recommendation.

2. Need-Based Scholarships

Need-based scholarships are awarded to those candidates who are in need of financial help and need the students to submit financial statements or other documentation to prove their eligibility. These MBA scholarships in the UK are meant to help students who don't have the means to pay for their education on their own and need help covering some or all of the cost of tuition and fees.

3. Employer-Sponsored Scholarships

Some companies can sometimes offer students pursuing an MBA degree a scholarship. These scholarships for a master's degree in business administration in the UK cover some or all of the tuition fees. They may need the employee to remain with the company for a certain amount of time after finishing their degree.

4. Diversity Scholarships

Diversity scholarships are given to students from minority and underrepresented groups like women, LGBTQ+ people, or minorities. The scholarships for MBA courses in a revered university or a business school are made to promote diversity and inclusion in MBA programs. They may need the applicants to submit essays or other materials describing their background and experiences.

5. Government-Sponsored Scholarships

Sometimes, the government might offer scholarships to students looking to get an MBA degree in the UK. These scholarships may be awarded based on how academically skilled they are or their financial needs and may be limited to certain fields of study or research areas.

Top MBA Scholarships in the UK

A large number of students move to the UK for education, and MBA is one of the most popular degrees that is pursued. The MBA can get a little expensive, especially for international students. Many MBA Scholarships are offered in the UK by different institutions and universities. Here are some of the most popular MBA Scholarships in the UK:

1. The Skoll MBA Scholarship 

Offered by: Said Business School, University of Oxford

Duration: 1- Year

Award: £78,510

The Skoll MBA Scholarship is one of the fully-funded MBA scholarships in the UK, which is very competitive and offers financial help to MBA students who have an affinity for social entrepreneurship and want to make a positive impact on the world. Students who receive this scholarship get their full tuition paid for and a living stipend for the duration of their MBA program.

2. The Imperial Business School Women's Scholarship

Offered by: The Imperial Business School

Award: £15,000- £25,000

Duration: Course duration

The Imperial Business School Women's Scholarship is one of the MBA scholarships in the UK that is awarded to female MBA students who have shown extraordinary academic and professional achievements and a commitment to gender diversity and inclusion. The scholarship covers up to 50% of the tuition fee for the Imperial MBA program.

3. The Cambridge MBA Bursaries

Offered by: Cambridge Judge Business School

Award Amount: £15,000

Duration: 12 Months

The Cambridge MBA Bursaries is one of the MBA scholarships in the UK that is given to students who show special academic and professional achievements, leadership potential, and a commitment to making a positive impact on society. These bursaries cover up to 50% of the tuition fee for the Cambridge MBA program.

4. The Cranfield MBA Diversity Scholarship

Offered by: Cranfield University

Award Amount: £10,000

Duration: Course Duration

The Cranfield MBA Diversity Scholarship is offered to students in the UK who belong to underrepresented communities, including women, ethnic minorities, and LGBTQ+ people. The scholarship recognizes students who have amazing academic and professional backgrounds and a demonstrated commitment to fostering diversity and inclusivity. Students who get this scholarship may get up to 50% of the tuition fee for the Cranfield MBA program.

5. Amber Scholarship

Offered by: Amber

Award Amount: Variable

Duration: Offered Upfront

Amber scholarship is the first choice for students who are looking for a scholarship to study MBA in the UK. Academically exceptional or the future amber scholar, can apply for the amber scholarship and open the doors to the future they have always imagined. Studying through an amber scholarship, you get access to a whole new world of premier institutions. All you need to do is be prepared with all the requirements and eligibility criteria of the amber scholarship and become an amber scholar. Can't get enough? An undying urge to know more? Let us dive into the amber scholarship further. 

6. Masters in Finance Merit Scholarship 

Offered by: London Business School

Award: Up to 50% Tuition Fees

Duration: 12-16 Months

The LBS MiF Scholarship covers up to 50% of the tuition fee for the LBS Masters in Finance program. It is granted to exceptional students who show strong academic and professional accomplishments, leadership potential, and a dedication to promoting diversity and inclusion.

What can help you get MBA Scholarships in the UK?

There are a number of factors that can help you get MBA scholarships in the UK. Some of the most important factors to get a scholarship to study MBA in the UK:

1. Strong academic background

Most MBA scholarships in the UK need a minimum GPA, so having a good academic record is essential.

2. Professional experience 

Many scholarships consider the student's professional experience and achievements, so having a strong resume and relevant work experience can be helpful.

‍3. Impressive application 

Making a properly written and compelling application that shows your strengths and achievements can increase your chances of receiving one of the scholarships to study in the UK.

‍4. Commitment to diversity and inclusion

Some MBA scholarships in the UK are awarded to students with dedication to promoting diversity and inclusivity, so highlighting your involvement in relevant causes can be helpful.

5. Leadership potential‍

MBA scholarships in the UK often seek candidates who have demonstrated leadership potential in their previous roles, so highlighting your leadership experience and skills can give you an advantage.

Eligibility Criteria for MBA Scholarships in the UK

The candidates who want to receive financial aid for their higher studies abroad need to fulfill some criteria. The qualification criteria for MBA scholarships are very important to be considered. Below are the eligibility criteria for an MBA scholarship application in the UK:

1. Two exceptional Letters of Reference or LOR 

2. Must be an international student

3. Unparalleled Academic track record

4. Must be eligible to apply for MBA courses in the UK

5. Must present your GMAT scorecard

6. Must present your GRE scorecard.

Trying to pursue an MBA in the UK can be pricy, but there are a number of MBA scholarships in the UK available that can help. Plenty of types of scholarships exist for students who meet the specific requirements of the scholarships. To increase your chances of getting an MBA scholarship in the UK, it is important to have good grades and work experience that are relevant. It's also necessary to show a commitment to diversity and inclusivity. By following these tips and researching available scholarships, you can find the right one to support your academic and professional goals. Check out our blog on MBA in the UK Vs MBA in the USA and the difference between MBA and MIM. You can also read our blog on what is a scholarship.