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US B-Schools Increase Scholarships By 40% To Attract Indian Students

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B-Schools in the USA are eager to attract the best of the candidates and they are finding most of them in India. Candidates themselves are leveraging their networks and putting together application packages that stand out.

According to some study abroad admission consultants reports, B schools are keen on offering about 35-40% rise in scholarships on admitting candidates who they seem fit to maintain their academic credentials.

Quality of Indian students is one of the main reasons why foreign universities want more of them. Scholarships now awarded to these students have become more meaningful and are in the range of $60,000 - $135,000 from the earlier $10,000 - $30,000.

Also read: Top 25 Business Schools in USA

In the 2015-16 academic year, Yale University spent approximately $5 million on scholarships for Indian students alone.

Candidates like Rashmita Redkar and Shreya Mathai were showered with scholarships when they applied for MBA programmes this year.

Redkar got four offers - $100,000 from Harvard, $120,000 from Kellogg, $60,000 from Tuck and $54,000 from Wharton. Mathai had offers of $100,000 from Harvard and $120,000 from Kellogg. Both picked Harvard Business School and Redkar even became one of six to get the Horace W Goldsmith Fellowship.

Also read: Know more about Financial Aid for Students in USA

Other beneficiaries include Rohit Sudheendranath, who was offered $100,000 by Harvard and $120,000 by Kellogg; he picked the first. Swagnik Bhattacharya was offered $100,000 by Kellogg.

The University of Virginia Darden School of Business' Sara Neher, who is admissions dean, said it's focused on providing scholarships to more students and Indians in particular.

40% Rise In Scholarships At US B-Schools

Merit-based scholarships awarded to Indian students have risen across the board at the Massachusetts Institute of Technology, University of Virginia, Dartmouth and other schools.

For most of the Indian students applying to US B-schools, the annual tuition fee is too high and nearly 95% of the candidates will apply for financial aid from the top 30 US B-schools.

Informative read: How much does it cost to study in the US?

The increase in number of scholarships on offer, is due to the quality of Indian students, say reports. Also, "An average Indian student is often perceived to be better than an average Western one," claims, Narayanan Ramaswamy, partner, education and skill development sector, KPMG India.

When it comes to business schools, Harvard Business School provides scholarships worth about $31.5 million; Wharton $17 million; Stanford $16 million; Michigan $16 million, according to sources.

Several schools have also adopted a common-application model, which means students can use one form for seeking aid, making the process much less cumbersome. However, some schools still require students to apply separately for each scholarship.

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