Online MBA Scholarships and Financial Aid - Here’s What You Need to Know!

Online MBA Scholarships and Financial Aid - Here’s What You Need to Know!

Edited By Arushi Pandita | Updated on Feb 14, 2025 04:58 PM IST | #MBA

Online MBA programmes are more affordable than regular ones. The fee of online MBA courses in India range from Rs 50,000 to Rs 5 lakhs. In IIMs, the average online MBA fee is Rs 10 lakhs - Rs 20 lakhs.

Several UGC-approved online MBA colleges in India, along with IIMs, offer scholarships and financial aid to help students manage their education costs without financial strain. Although online MBA fees are relatively lower, students still have to cover the costs. Scholarships and financial aid promote academic excellence, making online MBA courses more accessible.

Online MBA Scholarships and Financial Aid - Here’s What You Need to Know!
Online MBA Scholarships and Financial Aid - Here’s What You Need to Know!

Universities offer various types of online MBA scholarships, including merit-based scholarships, need-based scholarships, and diversity-based scholarships. Beyond scholarships, online MBA financial aid also encourages students to get education without worrying about excessive debt. The online MBA financial aid is offered in terms of educational loans, easy EMI options or installments.

An online MBA equips students with core business and management skills. Students can also gain specialised learning in areas such as entrepreneurship, digital marketing, human resources, and IT. Online MBA offers networking, career guidance, and alumni status, making the programme ideal for working professionals and graduates seeking career advancement.

K J Somaiya Institute of Management MBA Admissions 2025

Highest CTC: INR 28.25 LPA | Average for Top 100 offers: INR 17.34 LPA | Ranked #63 in India under Management category by NIRF | 148 Recruiters

SDA Bocconi IMB Admissions 2025 Open

Round 03 Extended Applications Deadline - 28th March 2025 | Average CTC 15.10 LPA

Types of Online MBA Scholarships

There are several types of scholarships offered by online MBA colleges in India. These online MBA scholarships are available to different categories of students.

Scholarships

Details

Merit-Based

This scholarship is awarded to students with strong academic records and achievements.

Need-Based

Provided to those students who come from weaker financial backgrounds.

Industry-Specific

This type of scholarship is awarded to different categories of students based on industry, including defence personnel and government employees

Top Colleges Offering Scholarships And Financial Aid for Online MBA

According to the University Grants Commission (UGC) 2022 data, online education saw a 170% rise, with online MBA enrolments reaching 28,956, showcasing a 50% increase from 2020 to 2023. With online MBA fees ranging from Rs 50,000 to Rs 5,00,000, scholarships and financial aid play a vital role in helping students manage costs effectively.

Universities such as Amity University Online, Manipal University Online, and MDI Gurgaon provide students with scholarship options. Manipal University, for instance, provides online MBA scholarships to different categories of students, including PWD, defence personnel, Manipal University alumni, meritorious students, and children of government employees.

On the other hand, Chandigarh University Online, D.Y. Patil Vidyapeeth Online, Manav Rachna University Online, IIM Ahmedabad, Amrita University, and IIM Udaipur provide students with the option to pay tuition fees in instalments, whereas IIM Kozhikode offers a loan option to cover their education costs for executive management programmes.

With fees varying widely, online MBA scholarships and financial aid are vital for students who come from weaker financial backgrounds. Top tier institutes such as IIMs, Amity University, and Manipal University Online, among others play a crucial role in making education more accessible and affordable.

Also Read: Top Online MBA Specialisations to Pursue in 2025

How To Maximise Online MBA Scholarships and Financial Aid?

Managing expenses for online MBA students can be challenging. However, with online MBA scholarships and financial aid offered by Indian universities, it is essential for aspiring graduates to know how to maximize these opportunities. The following points outline effective strategies to maximise scholarships and financial aid for online MBA students:

Read Terms And Conditions: Once you have been successfully awarded an online MBA scholarship or online MBA financial aid, make sure to always read the terms and conditions attached to them. Understand the renewal criteria, deadlines, and any academic requirements to ensure continuous support throughout the two-year online MBA curriculum.

Maintain A Good Academic Score: Indian universities prioritise academic merit for scholarships and financial aid. To qualify, students should maintain strong academic performance and stay committed to their curriculum. Consistently excelling in studies increases the chances of receiving financial support from the university.

Check And Monitor: Always stay vigilant of your online MBA scholarship disbursement. Ensure that the funds are credited on time as per the scholarship's terms. Students must maintain records of all the scholarship and financial aid documentation, including disbursement receipts, and should maintain communication with the financial aid officer for financial updates.

Utilise Professional Development Opportunities: Online MBA scholarships and financial aids help students cover additional expenses. The fund can be used on building their professional brand, including attending workshops or conferences that enhance their skills and make them more competitive in their careers.

Popular Colleges Offering Online MBA

Several top colleges in India offer online MBA in different specialisations. Students must visit the official website of their preferred college and enrol in an online MBA programme to fulfil their personal and professional goals. Here is the list of some of the popular online MBA colleges in India.

Top UGC Approved Colleges for Online MBA
Download this ebook and get all details related to the top UGC approved colleges for Online MBA.
Download List Here

Conclusion

Online MBA scholarships and financial aid help students continue their education without any financial constraints. By understanding the terms and conditions before applying, students can fully maximise the benefits of online MBA financial aid and scholarships, enabling them to excel in their careers.

Frequently Asked Questions (FAQs)

1. Who can apply for online MBA scholarships?

Anyone who meets academic performance, personal statement, and financial criteria can apply for online MBA scholarships.

2. How can I apply for financial aid in online MBA courses in India?

Students need to visit their preferred university, check all details and meet all the requirements for the online MBA financial aid.

3. Which Indian universities offer scholarships for online MBA in India?

Universities such as Amity University, Manipal University, and Chandigarh University offer scholarships and financial aid. IIMs also provide scholarships to meritorious students.

4. Are education loans available for online MBA programs?

Yes, universities such as IIM Kozhikode provide loan options for students seeking to enrol in an online MBA course.

5. Can working professionals apply for online MBA financial aid?

Yes, working professionals can apply for financial aid options available for online MBA courses. The online MBA financial aid is offered in  terms of educational loans, easy EMI options or installments.

Explore Top Universities Across Globe

University of Essex, Colchester
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Questions related to MBA

Have a question related to MBA ?

An MBA in HR can be pursued after a BA, but you must consider your interests , career goals and other circumstances. If you have a genuine interest in human resources, working with people and management , then MBA in HR can be a good choice. If unsure, please explore other specializations in MBA. However, every decision comes with pros and cons .


Pros:


  1. There is no restriction on background in MBA.
  2. HR professionals are need in every company, which provides a stable career.


Cons:

  1. If you are not particularly interested, then forcing yourself can lead to dissatisfaction.
  2. HR can be a very demanding position, requiring strong communication and conflict resolution skills.


Take your time to ensure that is a step that you want to take, not a step that you feel forced into.

Hello Bala chandar,

  • For pursuing a part-time PhD in Marketing, there are various institutions in Chennai offering flexible options. A PhD is a prestigious degree aimed at those who want to specialize in advanced research, academics, or consultancy. Here’s what you need to know:
  • Eligibility : Candidates must have completed an MBA or equivalent postgraduate degree in Marketing or related fields with a minimum of 55% marks from a recognized university. Some universities provide relaxation of 5% for SC/ST candidates. Additionally, candidates must have relevant work or research experience in some cases.


Institutions in Chennai:

  • University of Madras (https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.unom.ac.in/index.php%3Froute%3Dresearch/research&ved=2ahUKEwizjqC--amMAxX6d2wGHeWSDYQQFnoECBsQAQ&usg=AOvVaw2YroqEzEM0IpDiE6ARLDS7) : Offers a part-time PhD program in Management Studies.
  • Anna University (https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://cfr.annauniv.edu/&ved=2ahUKEwil-PCu-qmMAxUbSGwGHXaeJ2oQFnoECA0QAQ&usg=AOvVaw0KmaEwEJdK4XpSfg1vq3zk) : Known for its strong research orientation, it provides part-time PhD opportunities in business management.
  • Loyola Institute of Business Administration (https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://liba.edu/courses/doctoral-programme/&ved=2ahUKEwjO7JO--qmMAxX3UGcHHRwdLaQQFnoECA8QAQ&usg=AOvVaw0jCpGy-LIs2cmoAi0vFp95) (LIBA): Offers doctoral research opportunities with flexible schedules


  • Admission Process : Generally, you need to:
  • 1. Submit an online application through the respective university's portal.
  • 2. Appear for a university-level entrance test (if applicable), or through UGC-NET, CSIR-NET
  • 3. Clear an interview conducted by the institution's research committee.


  • Documents Required : Academic transcripts, work experience certificates, research proposal, and letters of recommendation.
  • Once admitted, candidates are expected to attend classes (if any) on weekends or as per the schedule, and the program duration typically ranges from 3 to 6 years. Research areas in Marketing may include digital marketing, consumer behavior, or brand management.

It’s advisable to contact the universities directly for updated information and to discuss part-time flexibility options.

Let me know if you need further assistance for any specific college.

Have a nice day !!

Delhi boasts several prestigious institutions for pursuing an MBA. The Faculty of Management Studies (FMS) at the University of Delhi stands out with an average salary of 34.10 LPA and affordable fees of 4.92 lakhs, accepting CAT scores. The Department of Management Studies at IIT Delhi offers an MBA program with an average salary of 17.60 LPA and fees of 11.20 lakhs, also accepting CAT scores. International Management Institute (IMI) Delhi provides a PGDM program with an average salary of 17.20 LPA and fees of 22.25 lakhs, accepting CAT, XAT, and GMAT scores.


Additionally, the Indian Institute of Foreign Trade (IIFT) in New Delhi is renowned for its specialized MBA in International Business.

Hello ,

I hope you are doing well. Choosing the good college for any course is really a difficult task. I am mentioning some best colleges for Mba in Banglore.

  • IIM Bangalore - Indian Institute of Management Bangalore
  • Christ University - Christ University, Bangalore
  • Alliance School of Business, Bangalore
  • Jain Deemed to be University, Bangalore - Jain Deemed to be University, Bangalore
  • XIME Bangalore - Xavier Institute of Management and Entrepreneurship, Bangalore
  • DoMS Indian Institute of Science - Department of Management Studies, Indian Institute of Science, Bangalore
  • JAGSOM - Jagdish Sheth School of Management, Bangalore
  • SIBM Bangalore - Symbiosis Institute of Business Management, Bengaluru
  • Welingkar Bangalore - Prin LN Welingkar Institute of Management Development and Research, Bangalore
  • MSRIM Bangalore - MS Ramaiah Institute of Management, Bangalore
  • SJIM Bangalore - St Joseph's Institute of Management, Bangalore

If you want to know more about these colleges and also to explore more colleges kindly go through the given link:

https://bschool.careers360.com/colleges/ranking/top-mba-colleges-in-bangalore

Revert for further query!

All the best !


Hello,

Bennet University MBA programme key points:

  1. Good Placements: Highest 33 LPA, Average 7 LPA ( Top recruiters are Microsoft, HCL, OYO )
  2. Fees: High Fees, ROI may not match top IIMs
  3. Good for industry connections and placements but compare with other options before deciding.
  4. Students have rated an overall rating of 4.3 out of 5.
  5. You can do MBA if you want good industry exposure
  6. Do not do if you are looking for a higher ROI or better ranked MBA colleges
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