Top study abroad scholarships for business master’s students

Studying a master’s abroad means experiencing a new country, meeting people from around the world, and making global career connections.

Yet studying abroad can be expensive because you may need to account for things like travel, health care, insurance, accommodation and visa costs.

That’s why it’s a good idea to research study abroad scholarships that can alleviate the financial burden of studying a master’s in a new country.

So, here are 15 study abroad scholarships for business master’s students across Europe, Asia, Australia, and North America.

Study abroad scholarships for business schools in Europe

Educations.com Study a Master’s in Europe Scholarship

For applicants wishing to study a master’s degree anywhere in Europe, Educations.com offers a scholarship of up to €5,000 (US$5,770) to make this a reality.

The fund is open to those of any nationality who are applying to study in a European country of which they are neither a resident nor a citizen. Even those studying an online course are eligible to apply.

If you are already studying abroad, you are ineligible to use this scholarship in your current study country.

Erasmus Mundus Scholarships

The Erasmus scheme has been the Europe Union’s flagship international study scheme since 1987. The Erasmus Mundus Joint Master’s Degree involves studying your degree in at least three different institutions in three different Erasmus program countries around Europe.

Scholarships cover your participation costs and contribute to your travel and visa expenses, as well as providing a living allowance. Applications should be sent off between October and January for courses starting the following academic year.

United Kingdom

Chevening Scholarship

If you’re from a Chevening-eligible country, you can apply for a Chevening Scholarship that will fully fund a master’s degree at a UK university.

Eligibility criteria include applying to three different UK master’s courses. You must have received an unconditional offer from at least one of these courses.

The Netherlands

The NL Scholarship (formerly known as the Holland Scholarship)

The NL Scholarship is a one-time grant of €5,000 (US$5,770) available to students outside the European Economic Area who are starting a full-time bachelor’s or master’s program at a participating Dutch university.

The scholarship, which is funded by the Dutch government and various national institutions, is intended to help students in their first year of studies. Applicants must apply directly to their university; note that the requirements and deadlines differ between universities.

Germany

The DAAD Scholarship

The German Academic Exchange Service (DAAD) offers scholarships for international students to study or research in Germany, covering living costs, travel, and insurance.

For master’s students, the exact amount of the award varies, but it tends to be either a monthly stipend of €934 (US$1,080) for the duration of your studies or a one-off payment of up to €2,151 (US$2,500).

As well as covering PhDs and short-term research, the scholarship is open to business master’s applicants. Applications are submitted via the DAAD portal, with details varying by program.

France

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 €1,200 (US$1,400) for applicants to pursue a master’s degree in France.

Study abroad scholarships for business schools in Asia

China and HKAR

The Belt and Road Scholarship

This scholarship was created 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 China or Hong Kong.

Recipients could receive 100 percent tuition fee cover as well as contributions toward living expenses and accommodation costs.

The award applies to master’s degrees as well as undergraduate and PhD programs.

Japan

ADB-Japan Scholarship Program

These are fully funded master’s scholarships for students from the Asian Development Bank’s 40 developing member countries. Available at top Asian institutions (including Japan, Thailand, and the Philippines), the program covers tuition costs, living allowance, travel, and health insurance. Fields include economics and management, as well as science and technology.

Study abroad scholarships for business schools in Australia

UQ Faculty International Scholarship

International students can apply for this scholarship to study for their business master’s at the University of Queensland.

Successful applicants will receive a 10 percent reduction in tuition fees per semester.

Sydney Scholars India Scholarship Program

The Sydney Scholars India Scholarship is a competitive program for Indian students pursuing undergraduate or postgraduate coursework at the University of Sydney.

Each year, 28 scholarships are awarded—ranging from AU$10,000 (US$7,160) to full tuition coverage—to students who exhibit academic excellence and a commitment to making a positive impact in India.

Applicants must be Indian citizens, residing in India, and hold an unconditional offer to study full time.

Curtin Global 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 20 percent off the course cost.

Study abroad scholarships for business schools in North America

United States

The Knight-Hennessy Scholars Program

The Knight-Hennessy Scholars Program at Stanford University offers one of the most prestigious and comprehensive scholarships for MBA students. Providing full funding for tuition, living expenses, and a travel stipend, this program also fosters leadership, innovation, and civic engagement.

With a focus on multidisciplinary collaboration, the scholarship encourages international students to apply and provides significant opportunities for personal and professional growth.

Forté Fellows Program

Designed to increase the number of women in business leadership, this program offers fellowships to women pursuing MBAs at partner schools such as Harvard Business School, MIT Sloan School of Management, and Tuck School of Business at Dartmouth. It also provides leadership development and networking opportunities.

The exact amount of the award varies depending on the school, but it typically ranges from US$10,000 per year up to full tuition coverage.

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. About 4,000 foreign students receive one of these scholarships each year.

The scholarship covers full or partial tuition costs, a stipend toward living expenses, travel expenses to the US, and health insurance.

Canada

Ontario Graduate Scholarship (OGS) Program

The Ontario Graduate Scholarship (OGS) Program is for master’s and doctoral students enrolled in full-time degrees at participating Ontario universities.

This program offers CA$10,000 (US$7,200) for two consecutive terms or CA$15,000 (US$10,760) for three, with a maximum of two years of funding available for master’s students. Eligibility and application processes are managed by individual universities, so applicants should consult their target institutions for specific details.

This list of master’s scholarships is not exhaustive, so make sure you take time out to research all available study abroad scholarships for international students.

This list mainly covers scholarships awarded by external bodies rather than universities themselves, so you should also explore scholarship opportunities at the schools you’re planning on applying to.