Fulbright MBA Scholarships - Amount, Criteria and Countries

Fulbright Scholarships are offered by almost 165 nations worldwide and accepted by ten schools from the top US MBA programs.

The scholarship is awarded on the academic strength of the students.

Unlike other scholarships, students do not have to apply for the University before applying for the Scholarship program. IIE (Institute of International Education) does the application procedure for the students in some countries, while in others, applicants must apply in parallel or take ownership of the entire application process, with IIE just offering administrative support.

Based on the student’s Fulbright application form, IIE (Institute of International Education) either applies or recommends the student to top U.S. universities based on competitiveness. This could be good or bad, depending on how you communicate your career goals.

Business Schools covered by the scholarship

For applicants from South Korea, the UK, France, and Germany, students can apply to universities on their own. The scholarship covers the following top 10 MBA programs:

1.    Stanford Graduate School of Business
2.    Wharton
3.    Harvard Fulbright (Only UK Fulbright Program)
4.    Dartmouth Tuck
5.    Johnson Graduate School of Business
6.    Yale
7.    UCLA Anderson School of Management
8.    Duke Fuqua
9.    Foster School of Business
10.    McDonough School of Business (Fulbright US Program)

Amount

Since most schools offer MBA admission through IIE university selection, they try to negotiate the lowest cost of attendance for the students. All countries provide travel allowances. But only some countries offer full-time awards for two-year courses, including India, Indonesia, and the UK, which may provide full degree funding.  

Canada offers nine months of funding at a maximum of $25,000.

Germany offers $34,500 for nine months and up to $15,300 for four months.

Taiwan and South Korea also offer one-year awards. However, these awards can be extended for one more year, depending on the recipient's academic achievement and budget.

UK has launched the Opportunity Fund option for those students who still, after receiving the Fulbright scholarship through IIE Placement Mode, cannot fulfil their expenses to study in the USA.

Eligibility

Citizenship: Eligibility for maximum Fulbright Scholarship remains the same, i.e., to be the national and resident of the respective place. This is the primary eligibility criteria for all the countries.

India Fulbright: In the case of India, to participate in the Fulbright program, one must complete the equivalent of a US bachelor’s degree with 55% marks. Again, the requirement of a US equivalent bachelor’s degree is made mandatory for all the Fulbright programs. One unique requirement of the India Fulbright program is that students must have at least three years of full-time paid experience.

UK Fulbright: Apart from the primary requirement, as mentioned, for the UK Fulbright program, students must hold an undergraduate degree with at least a 2:1 overall undergraduate result that is 60-70% marks.

Not a US Citizen/Green Card Holder

Other Fulbright programs in Canada, Indonesia, Japan, Germany, South Korea, Taiwan, UAE, and France, also demand eligibility criteria.

Eligibility: Undergraduate degree, proficiency in English, not a US citizen, No green card, and no prior degree from the US.

GMAT/GRE: Submission of the GMAT or GRE scores along with TOEFL scores is compulsory for MBA aspirants as indicated by their preferred Universities.
 

Return to Country: Students who apply through Fulbright Program must demonstrate a strong commitment to return to their nation after completing the scholarship period and work in the respective field for at least two years. Hence, this makes the students unable to take up the placements in the US. In the case of Indonesia, students must serve in their nation for at least five years before retirement.    

Criteria

The Fulbright-Nehru Master’s Fellowships (For Indians) provide no financial support for dependents.

The Institute of International Education (IIE) places the chosen applicants. IIE/Fulbright Program will submit applications to four different institutions on their behalf while considering the candidates' top institutions and competitiveness. The fellowship is for one to two years.

Similar is the case for the UK, where the IIE handles financial package negotiations on the student's behalf and covers the cost of admission and test fees. It can be fully funded under the opportunity fund, which is available only for the IIE Placement model. Before beginning an award, students who select the Independent Placement option must independently and directly apply for admission to a U.S. university. Students willing to apply to the Harvard MBA program can be majorly benefited from this program.

Students must seek admission simultaneously as they apply for a Fulbright Canada Award, which lasts for nine months.

Fulbright Program allows German students to apply to the university of their own will.

South Korea Fulbright Program has the longest wait period. Students must apply for the Fulbright Graduate School Scholarship Program approximately one and a half years before entering graduate school in the United States. After being selected as a scholarship candidate, applicants will apply to graduate schools in the United States with administrative support from the Korean American Education Commission.

IIE again plays a role in applying to the universities for Taiwan Fulbright Program. In contrast, France gives this responsibility to students where an application for the Student Program must be made in parallel with the admission procedures for American universities. Even though Taiwan and France offer one-year awards, Taiwan is given the opportunity to students to renew the program after one year through excellent academic performance.     

Reference

Fulbright Scholarship