Pursuing a Master of Business Administration (MBA) is a transformative step for many aspiring business leaders. The USA and Canada remain two of the most popular destinations for international students seeking high-quality MBA programs due to their globally ranked universities, diverse campuses, and strong connections to the global business community. However, studying abroad, especially at top-tier institutions, can be expensive. Fortunately, a wide range of MBA scholarships are available in 2025 for international students in both the United States and Canada.
These scholarships can significantly reduce the financial burden, often covering tuition, living expenses, and other costs. Whether you’re aiming for Harvard, Stanford, Rotman, or McGill, this guide highlights some of the top MBA scholarship opportunities you should consider in 2025.
Why Study an MBA in the USA or Canada?
United States
The U.S. is home to many of the world’s best business schools, including Harvard, Wharton, Stanford, MIT Sloan, and Columbia. The American MBA is globally recognized for its emphasis on leadership, entrepreneurship, and innovation.
Canada
Canada offers world-class education, a welcoming immigration policy for international students, and a growing economy. Business schools like Rotman (University of Toronto), Ivey (Western University), and Desautels (McGill University) are among the top-ranked globally.
Top MBA Scholarships for International Students in the USA (2025)
1. Harvard Business School – Need-Based Fellowships
Overview:
Harvard Business School (HBS) offers generous need-based fellowships to international MBA students based on financial need rather than merit.
Award Amount:
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Average of $40,000–$45,000 per year
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Can cover up to 70% of tuition depending on need
Application:
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No separate application required
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Students apply for financial aid after admission
2. Stanford GSB – Knight-Hennessy Scholars Program
Overview:
This prestigious scholarship is for high-achieving students who wish to pursue graduate studies, including an MBA, at Stanford.
Eligibility:
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International students eligible
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Must apply to both Stanford MBA and Knight-Hennessy
Award Includes:
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Full tuition
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Living stipend
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Academic and leadership enrichment
3. Wharton MBA Fellowships (University of Pennsylvania)
Overview:
Wharton offers both merit-based and need-based fellowships to MBA students, including international applicants.
Types of Scholarships:
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Emerging Economy Fellowships
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Joseph Wharton Fellowships
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Social Impact Fellowships
Award Amount:
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Varies widely; many cover full or partial tuition
4. MIT Sloan MBA Fellowships
Overview:
MIT Sloan School of Management offers multiple fellowships for outstanding international candidates.
Examples:
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Sloan Fellowships
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McKinsey Award
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Legatum Fellowship for entrepreneurial students
Award Amount:
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Ranges from $10,000 to full tuition
5. Columbia Business School – Columbia Fellowships
Overview:
Columbia Business School provides need- and merit-based fellowships for admitted MBA students.
Notable Opportunities:
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The Africa Fellowship
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The Forte Fellowship for Women
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Columbia Fellows Program
Award Amount:
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Partial to full tuition support
Top MBA Scholarships for International Students in Canada (2025)
1. Rotman School of Management (University of Toronto)
Overview:
Rotman offers a wide range of entrance scholarships and fellowships for exceptional MBA applicants.
Scholarships Include:
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Rotman Entrance Awards (up to $40,000)
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Forté Fellowships (for women in business)
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On-Campus Employment Bursaries
Application:
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Automatic consideration upon admission
2. Ivey Business School (Western University)
Overview:
Ivey offers merit-based scholarships and awards to high-performing MBA candidates, including international students.
Scholarship Types:
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Ivey Merit Scholarships
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Forté Foundation Awards
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Ivey Global Leader Award
Award Amount:
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Up to $50,000 CAD
3. Desautels Faculty of Management (McGill University)
Overview:
McGill provides competitive scholarships to MBA students based on academic merit, leadership, and community involvement.
Notable Awards:
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McGill MBA Entrance Fellowships
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Bensadoun Family MBA Scholarship
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Women in Business Award
Award Amount:
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Ranges from $5,000 to $30,000 CAD
4. Sauder School of Business (University of British Columbia)
Overview:
UBC offers several MBA scholarships for international students through the UBC Sauder Entrance Scholarship program.
Examples:
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Dean’s Entrance Scholarship
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Responsible Business and Community Spirit Scholarship
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Hari Varshney MBA Entrance Scholarship
Award Amount:
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$10,000 to $40,000 CAD
5. Schulich School of Business (York University)
Overview:
Schulich offers one of Canada’s largest MBA scholarship portfolios, including numerous awards for international students.
Notable Scholarships:
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International Entrance Scholarships
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Sustainable Business Scholarship
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Emerging Markets Entrance Award
Award Amount:
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Up to $40,000 CAD
How to Improve Your Chances of Winning an MBA Scholarship
Applying for an MBA scholarship in 2025 requires strategic preparation. Here are some expert tips to increase your chances:
1. Excel Academically and Professionally
A strong undergraduate GPA and significant professional achievements make your application stand out.
2. Craft a Compelling Personal Statement
Share your story, leadership experience, career goals, and how an MBA will help you achieve them. Be authentic and mission-driven.
3. Ace the GMAT or GRE
While some schools have moved to test-optional policies, a high GMAT or GRE score can improve your scholarship eligibility.
4. Demonstrate Leadership and Impact
Business schools and scholarship committees value leadership, innovation, and social responsibility—highlight this in your application.
5. Apply Early
Many scholarships are awarded on a rolling basis or during early application rounds. Apply early for the best chances.
Conclusion
An MBA from a top institution in the USA or Canada can open doors to global leadership roles, entrepreneurial ventures, and influential networks. Though tuition can be a major hurdle, the availability of MBA scholarships for international students in 2025 makes it more accessible than ever. From full tuition fellowships at Stanford and Harvard to generous entrance scholarships at Rotman and Ivey, there are numerous ways to fund your MBA dream.
Start your preparation early, research each program’s offerings carefully, and submit well-crafted applications. With determination and strategy, you could earn a scholarship that transforms your future.