Doing an MBA in Canada can be expensive; you must budget at least $CAD40,000 -$CAD 150,000. This is too much of a financial burden, especially if you are not financially buoyant.
However, there are a few MBA scholarship programs in Canada that can ease the financial burden of bagging an MBA degree in a prestigious institution. These programs provide financial aid that can cover as much as your tuition fees and living expenses. Some are fully and partially funded, while some come through Discounts and tuition waivers.
There are some basic requirements for MBA scholarships in Canada. These requirements include maintaining good grades, good GMAT and IELTS scores. Also, you will be required to have some kind of work/ internship experience. Your participation in extra curricular activities will also be considered.
Your best bet in getting an MBA Scholarship in Canada is to prepare yourself ahead of time. Put in your best during your interview.
Jatin Bhandari from Quora suggests that interested applicants should search for webinars hosted by business schools in Canada, plan to attend them as such webinars provides insider inside information that can help you put in your best while applying for MBA scholarships in Canada.
In this article, we have listed a few MBA scholarships for which you can apply in Canada.
Available MBA Scholarship in Canada
1. Rotman School of Management Scholarships
The Rotman School of Management Scholarship is offered by the University of Toronto and is considered one of the best business schools in Canada. Because it is a fully funded scholarship, applications are usually competitive.
The scholarship awards $10,000 to $25,000 to qualified students, who are selected based on the variety of scholarships they apply for.
To be eligible for this grant:
- You must be an academically upright candidate because academic excellence is greatly rewarded.
- Must be enrolled full-time in the institution’s MBA program.
- You must prepare the necessary documents and take tests, such as the IELTS and GMAT. Getting good scores in these tests will also help your application.
- Must have professional/work/internship experience.
Interested applicants can submit their applications online and await a response from the institution.
2. Schulich School of Business Scholarship
York University offers the Schulich scholarship to students from all over the world who are interested in an MBA program at the University. The scholarship is merit-based for both the Entrance Scholarship and the Continuing scholarship. Applicants for the entrance scholarship must have good academic records and pass the GMAT test with a perfect score.
Applicants for the continuing scholarship must have performed outstandingly during the duration of their course.
The scholarship awards as high as $25,000 to $40,000 to recipients, which can go a long way in covering their tuition fees.
To apply:
- You can submit applications via the Schulich fficial website, or contact the institution’s administrative department for further guidance.
- Ensure you understand the eligibility criteria before applying.
- GMAT and IELTS are required, so ensure you have a perfect score.
- Gather the necessary documents, which include a Personal Statement.
Submit your applications and wait for a response from the institution.
3. Ontario Graduate Scholarship Program
The Ontario Graduate Scholarship is open to international students interested in MBA programs in Canada.
To be eligible for this scholarship, applicants must already be enrolled in the MBA programs at the University of Ontario. Also, those who maintain an A average in academics have a good chance of being selected.
This scholarship awards CAD$5000 per semester to selected scholars to contribute towards their tuition fees. Applications are made through the official website.
4. Hasakayne Entrance Donor Scholarship
The Hasakayne School of Business at the University of Calgary offers an MBA scholarship to domestic and international students with higher GPAs and GMAT scores.
Hasakayne evaluates the applicants based on their GMAT scores, academic excellence, and professional experience. These documents will be submitted along with a personal statement letter.
The selected candidates will be awarded CAD$3000 to CAD$17000 during their study. This award covers their tuition fees.
5. Ivey MBA Scholarships Canada
Ivey Business School offers a partially funded scholarship for MBA students worldwide.
The eligibility criteria include good academic records, Perfect GMAT scores, leadership and entrepreneurial skills, and professional experience. You can get up to $10,000 in financial aid to help with your tuition fees. After making sure you meet the eligibility requirements, you can apply via the official website.
6. Alberta MBA Scholarship
The Alberta MBA scholarship offered by the Alberta Business School provides several scholarship awards to MBA aspirants. To qualify for this scholarship award, you would need a GPA of 3.5 and above, a Perfect GMAT score, and professional experience.
Selected recipients will be given $10,000 to help finance their MBA pursuit. Interested and eligible applicants can apply via the official website.
7. Sauder School of Business
Sauder Business School Canada offers exceptional students from all over the world top scholarship awards to help them with their academic pursuits in the MBA program.
The scholarship awards include:
- Asia Top Talent scholarship is open to Asian countries.
- Women in Business Leadership Scholarship.
- Hari Varshney MBA entrance scholarship.
- Dean’s Entrance Scholarship.
- International Talent scholarship.
These scholarships are merit-based, and good academic records, as well as great leadership and entrepreneurial skills, are taken into consideration. Previous business experience also gives you a boost.
The scholarship award ranges from $10,000 to $40,000, which can cover your tuition. The Hari Varshney Scholarship even pays up to half of your tuition fees. You can apply via the official website if you see that you meet the eligibility requirements.
8. Brocks Scholars Award
Brock University Canada offers interested students a scholarship award to complete their MBA programs. The award ranges from $1,600 to $13,600 to help students pay their way through their MBA program. A few waivers and discounts are also part of the package.
Applicants must be enrolled in a full-time program at the University and must have a good CGPA. Proficiency in English determined through the IELTS tests will also be considered in picking qualified candidates.
Requirement for MBA Scholarship in Canada
To be eligible for an MBA Scholarship in Canada. Interested applicants must fulfill some requirements. Some of these include:
- Passing the Graduate Management Admission Test with at least a score of 750 and above.
- Perfect IELTS/TOEFL scores.
- Maintain a high CGPA of 3.5 and above in their academic records.
- Participating in extracurricular activities.
- You will be required to have some work experience. Even an internship will do.
These are the basic requirements. Some institutions will have their requirements that applicants are expected to fulfill. You can read these requirements before applying for any of these scholarships.
FAQS | MBA Scholarships in Canada
How Can I Get Full Scholarship in MBA in Canada?
There are some complete scholarship programs for MBA studies in Canada. While most are partially funded. However, here are some listed top MBA scholarships in – -Canada that can help you financially to study in Canada:
– Rotman School of Management Scholarships.
– Sauder School of Business Entrance Scholarship.
– Ontario Graduate Scholarship (OGS) Program.
– Alberta MBA Scholarships.
– Ivey MBA Scholarships.
– Haskayne School of Business MBA Entrance Scholarships.
Is MBA Costly in Canada?
The cost of getting an MBA in a Canadian university varies. It all depends on the University you have chosen to study at. The average MBA costs 34,000 CAD and can reach 120,680 CAD for top schools like the Rotman School of Management.
However, some universities in Canada also offer low-cost MBAs to international students, such as the University of Waterloo and the University of Ottawa.
You can research through and apply for the ones that suit you.
How Do I Fund My MBA in Canada?
There are some Scholarship programs you can apply for that can enable you to fund your MBA in Canada. But if you fail to secure a university scholarship, you can apply for a government student loan or consider a private student loan to fund your MBA program instead. Many banks and credit unions are ready to offer large student loans and lines of credit, with flexible interest rates and conditions, to help you complete your MBA.
How Much Money Required for MBA in Canada?
Canada attracts many international students, mainly because some of the best educational institutions in the world are in Canada. The likes of the Rotman School of Management, University of Toronto, and Sauder Business School, amongst others. Because of this, the cost can be high. You must budget roughly up to CAD$ 100,000 towards an MBA. Or you can go to the low-cost schools. You can also utilize the part-time programs that allow students to find work opportunities in Canada while studying.
What GMAT Score Is Required for Scholarship in Canada?
The Graduate Management Admission Test (GMAT) is a required test that helps students gain scholarships in Canadian MBA programs. A GMAT score of 750 or higher is required if you intend to bag a scholarship.
Final Thought
Bagging an MBA Scholarship in Canada is not easy. These scholarships are usually competitive and dependent on merit. You must meet all criteria, including a good GMAT score, a high CGPA in your undergraduate studies, and work/entrepreneurial experience.
If you are interested in an MBA Scholarship in Canada, you should prepare beforehand. During your undergraduate studies, ensure you maintain good grades. A GPA of 3.64 upward is a good one. Also, volunteering will help you gain work experience which is a prerequisite for admission and MBA scholarship programs.
To increase your chances of getting an MBA scholarship in Canada, you must work extra hard to meet these requirements before applying. Align your pro
