Indian School of Business Doubles Scholarships
The Indian School of Business (ISB) in Hyderabad announced this week that it will double its MBA scholarships in a bid to attract the best and brightest students to study management education in India.
ISB will increase its total scholarship aid from rupees 4 crores ($816,000 USD) to rupees 8 crores ($1.6 million USD) for the incoming class of 2013. This increased outlay will mean that one in every seven students studying at the school will receive scholarships of between 25 and 50 percent of the total tuition fee. The scholarships will be awarded for both merit and financial need, the school announced. Recipients will be selected on the basis of their exceptional academic and professional performance as well as personal qualities such as leadership, integrity and community service.
“We take great pride in the diversity of our students,” ISB Deputy Dean Deepak Chandra said in a statement. “The doubling of our scholarship outlay reaffirms our commitment of grooming future leaders by opening gateways to world-class management education. We are confident that our efforts will continue to reap results in terms of attracting the best talent as well as strengthening the brand ISB.”
In addition to the increased school-wide scholarship awards, ISB also will offer entrepreneurial support through a special “Develop India” scholarship, awarded to students who aspire to start their own ventures. The “Develop India” scholarships, offered to aspiring entrepreneurs whose ideas are being incubated under the Entrepreneurs Development Initiative (EDI) at the Wadhwani Centre for Entrepreneurship Development (WCED) of the ISB, will cover the students’ loan EMI amount up to a period of two years.
Finally, several corporate organizations also offer their own scholarships to ISB students. Organizations including Citi Foundation, Novartis, IBF, Talentia, La Caixa and Casa Asia provide a variety of merit and need-based scholarships. The Novartis scholarship, for example, is specifically offered to encourage women students from small towns. The Citi Foundation scholarship, meanwhile, is one of the longest-running scholarships to be awarded at ISB.