Yet studying abroad can often incur high expenses since—depending on where you study—you may need to account for various factors such as travel, healthcare, insurance, and visa costs.
That’s why it’s a good idea to research study abroad scholarships that can alleviate the financial burden of studying for a master’s in a new country.
Here are 14 top study abroad scholarships for business master’s students across the US, Europe, and Asia-Pacific.
Study abroad scholarships for business schools in the US
Aimed at international undergraduate students who wish to study at a college or university in the US, the #YouAreWelcomeHere Scholarship, which first began as a social campaign, offers recipients a minimum of 50% reduction in tuition fees.
To be successful, you’ll need to submit a short essay or video project outlining your motivations for supporting intercultural learning in your host country.
Fulbright Foreign Student Program
This popular government-funded scholarship offers grants for international graduate students who wish to study for a postgraduate degree in the US for one year. Around 4,000 foreign students receive one of these scholarships each year.
Civil Society Leadership Awards
Recipients of a Civil Society Leadership Awards scholarship can receive fully funded scholarships to study for a master’s in the US. You’ll need to prove be a high-achieving individual and demonstrate an intertest in creating positive social change.
Study abroad scholarships for business schools in Europe
Educations.com Study a Master’s in Europe Scholarship
For undergraduate students wishing to study anywhere in Europe, Educations.com offers a scholarship of €5000 to make this a reality. The fund is open to students from any country.
Erasmus Mundus Scholarships
The Erasmus scheme has been Europe's flagship international study scheme since 1987.
The Erasmus Mundus Joint Master's Degree involves studying your degree at three or more institutions, located in Erasmus program countries around Europe. Students can apply for various scholarships to cover essential degree costs. Scholarships include up to €4,500 per year to cover tuition fees for students in program countries—usually programs within the EU—or up to €9,000 per year tuition fee payments for students from partner countries. Students could also be awarded a maintenance scholarship of up to €1,000 per month, a travel grant of up to €3,000 per year, or scholarships of up to €1,000 to help students from partner countries to relocate.
If you’re from a Chevening-eligible country, you can apply for a Chevening Scholarship that will fully-fund your master’s degree at a UK university.
These scholarships are highly competitive—successful candidates will need to show leadership potential and a strong academic background.
Imperial Business School scholarships
Imperial Business School offers scholarships for students from all across the world who are applying for any of its business master's degrees. The Africa Regional Scholarship and the LATAM Regions Scholarship automatically consider all master's degree students from these regions to be awarded up to $19,000 (£15,000).
Eiffel Scholarship Program of Excellence
Formed by the French Ministry for Europe and Foreign Affairs to attract international talent to top French institutions, the Eiffel scholarship provides a monthly allowance of €1,181 for applicants who are up to 25 years old and from a developing country to study a master’s degree in France.
Study abroad scholarships for business schools in Asia
SP Jain School of Global Management Academic and Leadership Scholarships
Master’s students can apply for this scholarship to study abroad at one of SP Jain School of Global Management’s campuses in either India, Singapore, Sydney, or Dubai. The funding is eligible for the tuition fees of the Master of Global Business or the Global MBA.
Chinese Government Scholarships
Students from the EU who wish to study for their master’s in China can apply for government-funded scholarships through this initiative.
The Belt and Road Scholarship
Formed to attract talented students from eligible countries along the Belt and Road—a global infrastructure development plan created by the Chinese government—to study in Hong Kong, recipients can benefit from full tuition fee cover.
Study abroad scholarships for business schools in Australia
Global Leaders Scholarship at the University of Queensland
International students from eligible countries in Asia and Europe can apply for this scholarship to study for their business master’s at the University of Queensland. The award covers 15% to 100% of tuition fees.
Sydney Scholars India Scholarship Program
This scholarship is aimed at strengthening Australia’s bonds with India, offering students with Indian citizenship a reward of up to $20,000 (AUD$) to study a coursework-based degree at the University of Sydney. Recipients of this program have used the reward to study for a Master of Management.
Global Curtin Scholarships – Merit Scholarship
Interested in studying for a business master’s at Curtin Business School in Perth, Western Australia? This scholarship is aimed at talented international students, providing 25% off their first-year tuition fees.
Remember, that this list of master’s scholarships isn’t exhaustive so make sure to plan and take time out to research all available study abroad scholarships for international students. You might even want to browse LinkedIn to see who has been successful for one of these awards and reach out to them to ask some questions to inform your application.