Affordable MBA Abroad For Indian Students
Pursuing an affordable MBA abroad for Indian students is a dream for many Indian students. This dream, however, often comes with a hefty price tag, making it seem out of reach for those with financial constraints. But here's the good news: studying for an affordable MBA abroad for Indian students doesn't always have to drain your bank account.
With the right planning, careful selection of countries, and understanding of various financial aids, you can make this dream a reality without burdening yourself with overwhelming debt.
Key Highlights: Affordable MBA Abroad For Indian Students
Before moving ahead with the details of studying for an MBA in abroad for Indian students at low cost, let's check the key highlights of this article:
| Aspect |
Details |
| Top Affordable MBA Destinations |
Canada, China, Switzerland, Germany, Norway, Ireland, Netherlands, Singapore, France, Sweden |
| Average Tuition Fees |
Ranges from INR 5.17 lakhs to INR 77 lakhs per year |
| Average Cost of Living |
Varies by country, ranging from INR 34,783 to INR 1.6 lakhs per month |
| Scholarships Available |
Over 950 scholarships for MBA programs globally |
| Post-Study Work Permit |
Available in many countries with specific eligibility criteria |
| Average Salaries in Top Countries |
France: USD 118,500
USA: USD 117,028
Australia: USD 112,714 |
| Student Visa Costs |
Europe: 90 Euros
Canada: CAD 150
USA: USD 185
Australia: INR 5,000 - INR 6,000 |
| English Proficiency Requirements |
TOEFL or IELTS for non-native English speakers |
| Common Admission Requirements |
Bachelor’s degree, 2-5 years of work experience, GMAT/GRE scores, letters of recommendation |
Top Countries for Affordable MBA Abroad For Indian Students
Several countries offer top-quality education at an affordable price, making it possible to earn a prestigious degree without breaking the bank. Here's a look at the top 10 cheapest countries to study MBA abroad for Indian students, focusing on tuition fees and cost of living.
| Country |
Average Cost of Living |
Average Tuition Fees |
| France |
€400-€800 (INR 34,783-69,567) |
€14,930 -€89,000 (INR 12.9-77 lakhs)/per year |
| China |
RMB 3816 (INR 45,086) |
RMB 188,000 to RMB 438,000 (INR 22.28-5.17 lakhs)/per year |
| Ireland |
€590-€1,000 (INR 51,300-86,940) |
€8,000- €30,000 (INR 6.95-26 lakhs)/per year |
| Canada |
CAD 1000 (INR 60,478) |
CAD 30,435 – CAD 31,856 (INR 81.5-19.2 lakhs)/per year |
| The Netherlands |
€800-€1,100 (INR 69,542-95,637) |
€14,930 -€89,000 (INR 12.9-77 lakhs)/per year |
| Germany |
€850 (INR 73,915) |
€19,000 to €45,000 (INR 16.5-39.13 lakhs)/per year |
| Singapore |
SD 1400 (INR 85,186) |
€8,000- €1,100 (INR 6.95 lakh -95,631)/per year |
| Sweden |
SEK 12,000 (INR 95,831) per month |
SEK 330,000 (INR 26.35 lakhs)/per year |
| Norway |
NOK 12,352 (INR 1,02,160) |
No tuition fees |
| Switzerland |
CHF 1,850 (INR 1.6 lakhs) |
CHF 28,500- CHF 70,000 (INR 25-61.6 lakhs)/per year |
We can see that France, Germany and Ireland offer the cheapest MBA in Europe for Indian students in terms of cost of living. Some universities offer free education in Germany.
Common Tips to Manage Living Costs for an Affordable MBA Abroad for Indian Students
Want to know some real tips for managing your living costs in a foreign country during MBA? Read on:
1. Accommodation
Renting a room in a shared apartment or opting for student housing can significantly reduce accommodation costs worldwide.
2. Food and Dining
Preparing your meals at home is often much cheaper than dining out, especially in countries with high dining costs. This is a practical way to save money no matter where you study.
3. Transportation
Reduce transportation costs by using public transportation passes or student discounts. Bike or walking can also be cost-effective and healthy in some countries.
4. Part-Time Work
Working part-time can help cover living expenses without interfering with studies, making it a viable option to ease financial pressure.
Top MBA Colleges With Low Fees in World
Pursuing an MBA abroad can be a significant financial investment, but several high-quality institutions offer affordable programs. For Indian students seeking a cost-effective yet reputable MBA degree, the following list highlights some top colleges with low tuition fees.
| QS World Ranking 2024 |
MBA Colleges |
Tuition Fees Per Annum |
| 641-650 |
Memorial University of Newfoundland, Canada |
₹22.56 lakhs |
| 322 |
University of Victoria, Canada |
₹33.07 lakhs |
| 81-90 |
EU Business School |
₹6.34 lakhs |
| 37 |
Technical University of Munich, Germany |
₹1.21 lakhs |
| 213 |
University of Tuebingen, Germany |
₹2.60 lakhs |
| 1001-1200 |
Deusto Business School |
₹20.83 lakhs |
| 35 |
EAE Business School, Spain |
₹19.2 lakhs |
These top MBA colleges with low fees in world offer excellent MBA programs at a fraction of the cost of many top-ranked global universities, making them ideal options for students looking to balance quality education with affordability.
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Eligibility for Affordable MBA Abroad For Indian Students
When considering an affordable MBA abroad, Indian students need to be aware of specific eligibility criteria that most institutions require. Below is a breakdown of the key criteria that prospective students must meet:
| Criteria |
Description |
| Bachelor’s Degree |
An undergraduate degree from a recognised institution. |
| Work Experience |
Typically 2-5 years of professional experience, especially for top-tier programs. |
| Standard Tests |
A valid GMAT or GRE score is usually required. Some programs may accept the Executive Assessment (EA) for seasoned professionals. |
| Language Proficiency |
TOEFL or IELTS scores are generally required for non-native English speakers. |
| Academic Transcripts |
Official transcripts from all previously attended academic institutions. |
| Letters of Recommendation |
2-3 letters from professional or academic referees. |
| Essays or Statement of Purpose |
An essay or statement outlining your career goals, achievements, and motivation for pursuing an MBA. |
Steps to Apply for an MBA Abroad
Applying for an MBA abroad involves several steps, from selecting the right university to preparing for entrance exams and securing financial aid. A well-organised approach can streamline the process and increase your chances of success.
| Step |
Details |
| Step 1: Research and Shortlist Universities |
- Identify universities that align with your career goals, budget, and preferred specialisations.
- Consider factors like tuition fees, location, job placement rates, and alumni networks. |
| Step 2: Prepare for Entrance Exams |
- GMAT/GRE: Begin early preparation to achieve a competitive score.
- English Proficiency Tests (IELTS/TOEFL): Ensure you meet the required score for chosen universities. |
| Step 3: Gather Required Documents |
- Academic Transcripts: Obtain certified copies of your academic records.
- Letters of Recommendation: Secure strong recommendations from academic or professional mentors.
- Statement of Purpose (SOP): Craft a compelling SOP outlining your career goals and program choice.
- Resume: Update your resume to highlight relevant work experience and achievements. |
| Step 4: Apply for Scholarships and Financial Aid |
- Research and apply for scholarships and financial aid well before deadlines. |
| Step 5: Submit Applications |
- Submit your application through the university’s online portal with all the documents. |
| Step 6: Prepare for Interviews |
- Research common interview questions and practice responses.
- Highlight your strengths, experiences, and reasons for choosing the MBA program. |
| Step 7: Secure Your Funding |
- If accepted, begin securing funding through scholarships, education loans, or personal savings.
- Ensure you have sufficient funds for tuition and living expenses. |
| Step 8: Visa Application |
- Start the visa application process with your acceptance letter, financial proof, and passport.
- Ensure you have all the necessary documents for a successful application. |
| Step 9: Plan Your Arrival |
- Arrange accommodation and plan your travel to the destination country.
- Attend pre-departure orientations provided by the university or educational consultants. |
To fund your education, let’s talk about scholarships and how to get them.
Student Visa Costs for MBA Abroad
When pursuing an affordable MBA abroad for Indian students, securing a student visa is essential. Below is a quick overview of visa costs for popular destinations:
| Country |
Visa Cost |
| European Countries |
90 Euros |
| Canada |
CAD 150 |
| USA |
USD 185 (all three visa types) |
| Australia |
INR 5,000 - INR 6,000 |
It's recommended to verify the visa fees during the application process to ensure timely payment and a smooth application experience. This planning will help you study in the best country to study MBA in low cost.
Scholarships and Financial Aid Opportunities for MBA in Abroad for Indian Students at Low Cost
Leveraging scholarships will ease the financial burden of pursuing an affordable MBA abroad for Indian students. Many countries and universities offer generous scholarships to international students, including Indians. Let’s learn about them.
| Country |
Scholarship Name |
Description |
| Germany |
DAAD Scholarships |
Covers tuition fees, living expenses, and health insurance |
|
Deutschlandstipendium |
Financial and non-material support for high-achieving students |
|
University-Specific |
Many universities offer scholarships for MBA students |
| France |
Eiffel Excellence Scholarships |
Covers tuition fees, living expenses, and international travel |
|
Campus France Scholarships |
Various scholarships for Indian students |
|
HEC Paris Scholarships |
Merit-based and need-based options |
| Canada |
Vanier Canada Graduate Scholarships |
Significant financial aid for international graduate students |
|
Ontario Graduate Scholarship (OGS) |
Available to international students in Ontario |
|
University-Specific Scholarships |
Offered by universities like McGill and Toronto |
| Spain |
IE Foundation Scholarships |
Various scholarships based on merit and need |
|
ESADE Scholarships |
Scholarships for diversity, merit, and financial need |
|
Fundación Carolina Scholarships |
Primarily for Latin American students, sometimes extended to Indians |
| Australia |
Australia Awards Scholarships |
Covers full tuition, living expenses, and more |
|
Endeavour Scholarships |
Merit-based, comprehensive financial aid |
|
University-Specific Scholarships |
Offered by universities like Melbourne and ANU |
| Norway |
Norwegian Quota Scheme |
Some universities still offer scholarships under this program |
|
Tuition-Free Education |
Public universities don't charge tuition fees |
|
University-Specific Grants |
E.g., NHH offers grants to international students |
| Sweden |
Swedish Institute Scholarships |
Covers tuition fees and living expenses for qualified students |
|
University-Specific Scholarships |
E.g., Stockholm School of Economics offers MBA scholarships |
|
Visby Programme |
For students from certain countries, including India |
| Finland |
Finnish Government Scholarship Pool |
For doctoral-level studies, some benefits for MBA candidates |
|
University-Specific Scholarships |
E.g., Aalto University provides various scholarships |
|
Tuition Fee Waivers |
Many universities offer waivers for international students |
| New Zealand |
New Zealand International Scholarships |
Covers tuition, living expenses, and travel |
|
University-Specific Scholarships |
E.g., University of Auckland offers scholarships |
|
Commonwealth Scholarships |
Available for students from Commonwealth countries |
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How to Apply for Scholarships for Affordable MBA Abroad For Indian Students?
Understanding the scholarship application process is key to securing the funds you need for your affordable MBA abroad for Indian students. Here's a streamlined guide to help you navigate the journey with confidence.
1. Apply Early
Begin your scholarship search as soon as possible and identify scholarships that match your profile.
2. Tailored Applications
Customise your application for each scholarship and craft compelling personal statements.
3. Supporting Documents
Obtain strong letters of reference and all necessary paperwork.
4. Quality Check
Proofread your application before submission.
5. Timely Submission
Ensure everything is submitted before the deadline.
6. Follow-up
Confirm receipt and stay engaged.
Even with scholarships, there might still be some costs to cover. Propelld's education loans can complement your scholarship, ensuring you have all the financial support you need for an affordable MBA abroad for Indian students.
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Post-MBA Employment Opportunities for Affordable MBA Abroad For Indian Students
One of the significant advantages of pursuing an affordable MBA abroad for Indian students is the opportunity to work in the country post-graduation. Graduates are often eligible for a Post Study Work Permit, allowing them to gain valuable international work experience.
Countries Offering the Highest Salaries for MBA Graduates
| Countries |
Average Salary |
| France |
USD 118,500 or INR 99 L |
| USA |
USD 117,028 or INR 98 L |
| Australia |
USD 112,714 or INR 94.13 L |
| UK |
USD 110,735 or INR 92.48 L |
| Italy |
USD 99,333 or INR 83 L |
| Brazil |
USD 68,000 or INR 56.80 L |
| China Mainland |
USD 49,056 or INR 41 L |
Common Job Profiles for MBA Graduates
| Job Profiles |
Average Salary |
| Human Resources (HR) Manager |
USD 73,732 / year |
| Senior Financial Analyst |
USD 85,986 / year |
| Financial Controller |
USD 93,811 / year |
| Chief Financial Officer (CFO) |
USD 153,683 / year |
| Director of Operations |
USD 111,518 / year |
Propelld’s pay-as-you-earn repayment plan is ideal for MBA graduates, aligning perfectly with the post-study work opportunities in these countries.
Pursuing an affordable MBA abroad for Indian students is a significant step toward a successful global career, and with the right planning, it can be both achievable and affordable. You can ensure a top-quality education without overwhelming financial strain by carefully selecting your destination, leveraging scholarships, and managing your living costs.
With hassle-free, collateral-free education loans up to ₹50 lakhs, quick approval in just 7 days, and flexible repayment options, Propelld ensures that financial concerns don't hold you back from achieving your global ambitions. Propelld can provide the financial support you need to focus on your studies and career goals.
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Some benefits of using Propelld for your student loan are as follows:
| Feature |
Details |
| Max Loan Amount | 50 Lacs |
| Collateral | Not Required |
| Moratorium | Available |
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