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Scholarships to study business administration abroad

Find out here about the updated list of scholarships to study business administration abroad, with their benefits and deadlines.

Studying business administration at a university abroad is a unique opportunity to gain knowledge in a global setting while learning from diverse cultural and economic perspectives. It helps you develop essential skills such as leadership and strategic management, among others. Still, we know that deciding to study business administration abroad can be expensive, which is why today we are sharing some of the best scholarships available so you can apply and make your academic goals a reality.

These scholarships not only ease the financial burden but also offer additional benefits, such as access to international networks, specialized mentoring, and job opportunities in other countries. While studying abroad, it’s essential to stay connected to make the most of your academic and professional experience. With Holafly’s global plans, staying online will be effortless, giving you reliable internet access 24 hours a day.

In this article, we’ll tell you about the scholarships available to study business administration abroad, so be sure to take note and apply for the ones that best match your goals and interests.

In this article

How much does it cost to study business administration abroad?

To begin with, studying business administration abroad can involve significant costs, depending on the country and the university you choose. The main expenses to keep in mind include:

Tuition: Tuition fees can range anywhere from $10,000 to $50,000 per year, depending on the university’s reputation and location. For instance, in the United States, universities such as Harvard and Stanford charge around $45,000 annually. In contrast, many public universities in European countries like Germany offer free or low-cost programs, with tuition ranging from about $320 to $3,200 per year.
Accommodation: Housing costs can range from about $500 to $1,500 per month, depending on whether you choose to live in a university residence, rent a private apartment, or share accommodation with others.
Transportation: Depending on the country, public transportation can cost between $50 and $200 per month.
Living expenses: Monthly food expenses can vary between $200 and $600, depending on the local cost of living.
Other expenses: Expenses such as books, materials, and health insurance can add up to between $1,000 and $2,000 per year.

In summary, total annual costs can range from around $15,000 to $60,000, depending on your destination and lifestyle. That’s why scholarships play such a key role for students who want to study this field abroad.

The best scholarships for studying business administration abroad

Exploring available scholarships is the first step toward making your dream of studying business administration abroad a reality. Below, we highlight five outstanding options that could help you achieve your academic and professional goals.

Scholarships for studying business administration abroad: Stanford Fellowship Program, United States

This scholarship program from Stanford University is designed for international students who want to pursue an MBA at one of the world’s most prestigious business schools.
General requirements: Applicants should hold a university degree with an excellent academic record, have at least two years of work experience, present competitive GMAT or GRE scores, and show strong leadership skills along with a commitment to social impact.
Coverage and benefits: Partial or full tuition coverage (up to $80,000), access to mentoring and exclusive alumni networks, and support for social entrepreneurship projects.
Type of studies offered: Master of Business Administration (MBA).
Aimed at: International students with significant work experience and a commitment to global leadership.
How to apply: Through the official Stanford Graduate School of Business website.
Opening date: Usually in July.
Closing date: January of the following year.

Another option: Eiffel Excellence Scholarships, France

This program, sponsored by the French government, supports international students pursuing master’s or doctoral degrees at French institutions, including prestigious business schools.
General requirements: Be under 30 years old for master’s programs or under 35 for doctoral studies, have an outstanding academic record, and present a clear study plan along with a well-defined professional project.
Coverage and benefits: A monthly stipend of about $1,250 for master’s students and $1,800 for doctoral candidates, along with coverage for travel expenses, health insurance, and cultural activities, plus partial tuition or special discounts.
Type of studies offered: Master’s and doctoral degrees in various fields, including administration and business.
Aimed at: International students interested in studying in France.
How to apply: Applications must be submitted through participating French universities.
Opening date: October.
Closing date: January.

Schwarzman Scholarships, China

This scholarship program at Tsinghua University in Beijing is designed to prepare future global leaders through a master’s degree focused on global leadership and business.
General requirements: Ages 18 to 28, completion of an undergraduate degree before the program begins, advanced English proficiency, and a genuine passion for leadership and international affairs.
Coverage and benefits: Full tuition, room and board, personal stipend, study trips, and health insurance.
Type of studies offered: Master’s degree in global leadership and business.
Aimed at: Young individuals with leadership potential of any nationality.
How to apply: Directly through the official Schwarzman Scholars website.
Opening date: April.
Closing date: September.

Rotary Peace Fellowships, Global

Although these scholarships focus on studies related to peace and conflict resolution, they also include master’s programs in business administration with an emphasis on global leadership and social entrepreneurship.
General requirements: At least three years of professional experience in a relevant field, strong command of English and, in some cases, the host country’s local language, along with a demonstrated commitment to community or social projects.
Coverage and benefits: Full tuition, room and board, travel expenses, and medical insurance.
Type of studies offered: Master’s degrees in various areas related to business and leadership.
Aimed at: International professionals committed to solving global problems.
How to apply: Through local Rotary clubs or the official Rotary International website.
Opening date: February.
Closing date: May.

Australia Endeavour Leadership Program Scholarships, Australia

This government program provides funding for international students who want to pursue master’s or doctoral degrees at universities in Australia.
General requirements: Acceptance into an Australian educational institution, a strong academic record, and a research or study proposal with regional or global impact.
Coverage and benefits: Full tuition coverage, a monthly living stipend, travel expenses of up to $2,000, and comprehensive health and travel insurance.
Type of studies offered: Master’s and doctoral degrees.
Aimed at: Students of any nationality who wish to study in Australia.
How to apply: Through the official Endeavour Scholarships portal.
Opening date: March.
Closing date: June.

Chevening Scholarships, United Kingdom

This prestigious scholarship program, funded by the UK government, supports outstanding international students who wish to pursue a master’s degree at any university in the United Kingdom.
General requirements: Citizenship from a Chevening-eligible country, a university degree that qualifies for admission to a master’s program, at least two years of work experience, and strong leadership skills paired with clear professional ambition.
Coverage and benefits: Full tuition coverage, a monthly living allowance, travel expenses to and from the United Kingdom, visa application fees, and health insurance.
Type of studies offered: Master’s degrees in various fields, including business administration.
Aimed at: Emerging leaders with the potential to make an impact in their home countries.
How to apply: Through the official Chevening website.
Opening date: August.
Closing date: November.

Among the scholarships for studying business administration abroad: DAAD Scholarships, Germany

The German Academic Exchange Service (DAAD) offers scholarships for international students who wish to pursue master’s or doctoral degrees at universities in Germany.
General requirements: Strong academic performance, relevant professional experience (for certain programs), and proficiency in either German or English, depending on the program.
Coverage and benefits: Monthly stipends of about $1,000 for master’s students and $1,300 for doctoral candidates, along with health, accident, and liability insurance, plus a travel allowance and additional expense support.
Type of studies offered: Master’s and doctoral degrees in administration and related areas.
Aimed at: Students from developing countries and other specific regions.
How to apply: Through the DAAD portal and participating universities.
Opening date: Depends on the program.
Closing date: Varies depending on the institution.

Fulbright Program, United States

This leading U.S. government scholarship program helps international students pursue graduate and doctoral studies at top universities throughout the United States.
General requirements: A university degree in a related field, advanced English proficiency (TOEFL or IELTS), relevant professional experience, and a clear record of leadership potential and commitment to social impact.
Coverage and benefits: Full tuition, living stipends, medical insurance, travel costs.
Type of studies offered: Master’s and doctoral degrees in multiple disciplines, including business administration.
Targeted at: International students with outstanding academic achievements.
How to apply: Through the Fulbright commissions in each country.
Opening date: May.
Closing date: October.

Discover the ranking of the 10 best scholarships for studying business administration abroad @unsplash

MEXT Scholarships, Japan

These scholarships, offered by Japan’s Ministry of Education, Culture, Sports, Science and Technology (MEXT), are aimed at international students who want to pursue graduate studies at Japanese universities.
General requirements: Under 35 years of age for graduate programs, a strong academic record, and proficiency in either English or Japanese, depending on the program.
Coverage and benefits: Full tuition, monthly stipend of approximately $950, round-trip transportation to Japan.
Type of studies offered: Master’s and doctoral degrees.
Target audience: International students of any nationality.
How to apply: Through the Japanese embassy in the candidate’s country or directly at the universities.
Opening date: March.
Closing date: June.

Knight-Hennessy Scholars, Stanford, United States

This global leadership program at Stanford University aims to develop innovative leaders through its master’s and doctoral programs, including the MBA.
General requirements: A bachelor’s degree earned within the past four years, a strong commitment to leadership and social impact, and an outstanding academic and professional record.
Coverage and benefits: Full tuition coverage, a monthly living stipend, travel allowance, and funding for leadership projects and global networking opportunities.
Type of studies offered: Master’s and doctoral degrees in multiple areas, including the MBA.
Aimed at: International students with leadership vision.
How to apply: Through the official Knight-Hennessy Scholars website.
Opening date: April.
Closing date: October.

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Tips for winning scholarships to study business administration abroad

Highlight your leadership skills and strategic vision

Business administration scholarships often prioritize students with strong leadership abilities and strategic decision-making skills. To showcase this:

Participate in group projects, volunteer activities, or entrepreneurial initiatives.
Include specific examples in your application where you have led a team or designed innovative solutions to complex problems.
Reflect these experiences in your cover letter and interviews.

Adapt your profile to the global demands of the career

The field of business administration is constantly evolving and demands an understanding of global trends such as sustainability, digital transformation, and diversity. For that reason:

Enroll in complementary courses on topics such as digital marketing, circular economy, or AI applied to business.
Relate your interest in these areas to the values and objectives of the scholarship you are applying for.

Research the institution’s values and tailor your application

Each scholarship program has specific values it seeks to promote, such as innovation, social impact, or academic excellence. For example:

If the scholarship values business innovation, highlight your achievements related to disruptive ventures or projects.
Customize each application, mentioning how your goals align with the mission of the institution awarding the scholarship.

Build a strong academic and professional profile

Having an outstanding academic record is essential, but you also need to strengthen your professional experience. To do this:

Do internships at well-known companies or relevant startups.
Participate in business case competitions, innovation contests, or networking events.
Request recommendation letters from academic mentors or business leaders who can vouch for your abilities in the field of business administration.

Perfect your ability to communicate in different languages

Most international programs require an advanced level of English and, in some cases, proficiency in other languages. In addition to earning certifications such as TOEFL or IELTS:

Develop your business communication skills, such as public speaking and report writing.
Show how your knowledge of multiple languages will enable you to excel in multicultural environments.

Show your commitment to social and business impact

Business administration programs look for students who apply their knowledge to create a positive impact in society. To stand out:

Participate in corporate social responsibility initiatives or community projects.
Describe how you plan to use the knowledge gained through the scholarship to address social, economic, or environmental challenges in your region or globally.

study abroad — Find out here the most frequently asked questions about studying business administration abroad @unsplash

Frequently asked questions about scholarships to study business administration abroad

What grade point average is required to apply for these scholarships?

Most scholarships require a minimum GPA of 8.5 out of 10 or its equivalent, although some highly competitive awards expect even higher academic performance.

What type of work or professional experience is most valued?

Experience in leadership, project management, entrepreneurship, strategic volunteer work, or internships at reputable companies is highly valued.

How far in advance should I start preparing my application?

We recommend starting at least 12 months in advance in order to meet all the requirements, obtain certificates, and write a strong application.

Do scholarships cover all expenses associated with studying?

It depends on the scholarship. Some provide full coverage, including tuition, housing, living expenses, and travel, while others cover only a portion of the costs.

What should I do if my profile does not meet all the scholarship requirements?

Focus on strengthening your weaker areas, such as improving your GPA, earning language certifications, or gaining relevant experience. Consider applying for less competitive scholarships while you continue building your profile.

Can I apply for several scholarships at the same time?

Yes, this is a recommended strategy. Make sure you meet the requirements for each scholarship and tailor your applications to maximize your chances.

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