Pursuing an MBA at the Indian School of Business (ISB) is a significant investment, but the school offers a wide range of scholarships and financial aid options to make the programme more accessible. For the 2026 intake, ISB provides scholarships based on merit, diversity, financial need, and special applicant categories, along with donor-funded awards and post-MBA financial support.
In this guide, we cover every major ISB scholarship, eligibility criteria, tuition waivers, and application process.
ISB PGP Scholarship Categories
ISB offers financial assistance through four major categories:
- Merit-Based Scholarships
- Diversity Scholarships
- Need-cum-Merit Financial Aid
- Donor and Alumni Sponsored Scholarships
Most merit scholarships are awarded automatically during the admissions process, while a few require separate essays or supporting documents.
Merit-Based Scholarships
ISB Merit Waiver
All admitted applicants are automatically considered for the ISB Merit Waiver.
Scholarship Amount
- 25% to 100% tuition waiver
Application Required?
- No. Automatic consideration during admissions.
Prof. Manasa Mandava Memorial Scholarship
This scholarship recognises an outstanding female applicant demonstrating exceptional merit.
Scholarship Amount
- 50% tuition waiver
Selection Process
- Automatic consideration.
Diversity Scholarships
ISB actively encourages diversity across industries, educational backgrounds, and nationalities.
ISB Merit by Diversity Waiver
Applicants from diverse educational or professional backgrounds may receive:
- 25% to 100% tuition waiver
Selection is based on the overall admission evaluation.
International Diversity Waiver
Available for international applicants holding non-Indian passports.
Coverage
- 25% to 100% tuition waiver
Armed Forces Scholarship
Offered to current and former Armed Forces personnel.
Coverage
- 50% tuition waiver
AIESEC–ISB Scholarship
Available for current or former AIESEC members.
Coverage
- 25% tuition waiver
Requirements
- Essay
- Proof of AIESEC membership
Bridge to India Waiver
Designed for Indian professionals currently working overseas who wish to return to India.
Coverage
- 25% tuition waiver
Requirement
- Personal essay explaining the transition.
Need-cum-Merit Financial Aid
Applicants with financial constraints can apply for need-based assistance.
Family Income up to ₹8 Lakhs
- 100% tuition waiver
Family Income between ₹8 Lakhs and ₹20 Lakhs
- 75% tuition waiver
Documents Required
Applicants must submit:
- Income proof of applicant and family
- Personal financial essay
- Supporting financial documents
These documents must be submitted along with the MBA application.
Donor & Alumni Scholarships
Several scholarships are funded by ISB alumni and corporate partners.
Full Tuition Scholarships
Bajaj Auto Scholarship
- Three merit-based awards each year covering full tuition.
Taparia Family Scholarship
- Five scholarships worth approximately ₹25.62 Lakhs each.
J.C. Flowers ARC Scholarship
- Five full tuition scholarships awarded on merit.
Partial Scholarships
| Scholarship | Coverage | Eligibility |
|---|---|---|
| Deepak Parayanken Waiver | ₹15 Lakhs | Two awards; at least one female candidate |
| Alumni Endowment Fund | 25% Tuition | Merit-based |
| PGP Co2005 Waiver | 25% Tuition | Merit-based |
| Aakash Tuition Grant | 25% Tuition | Need and merit |
| Vidula Jalan Scholarship | Full tuition, admission and accommodation | Need-cum-merit |
| Ramesh C. Khanna Scholarship | 25% Tuition | Sole earning member of family |
| Ishwar Prakash Agarwal Scholarship | 25% Tuition | Preference to differently-abled candidates, then women returning after a career break |
| Jagannath Arora Scholarship | 25% Tuition | Need-based |
| PGPMAX Co2012 Scholarship | 25% Tuition | Social sector applicants |
| Indira–Vasudha Scholarship | Up to 25% Tuition | Female candidate |
| Aditya Shembekar Scholarship | 25% Tuition | Need-based |
| Brigadier V.H.M. Prasad Scholarship | ₹10 Lakhs | Armed Forces personnel and dependents |
Scholarships for International Students
ISB also offers scholarships specifically for international applicants.
Visiting Faculty Scholarship
- 25% tuition waiver
Selection is based on merit, diversity, and financial need.
La Caixa & Casa Asia Scholarship
For Spanish citizens graduating from Spanish universities.
Coverage includes the entire cost of studying at ISB.
Talentia Scholarship
Available to applicants from Spain’s Andalusia region.
Covers the total cost of the programme.
Develop India Scholarship
Unlike traditional scholarships, this initiative supports graduates after completing the MBA.
It is designed for students who choose careers in:
- Social enterprises
- NGOs
- Development sector organisations
- Government organisations
- Public Sector Undertakings (PSUs)
Benefit
The scholarship provides EMI support for educational loans for up to 24 months after graduation. Payments are made directly towards the student’s education loan.
Important Scholarship Rules
Before applying, applicants should keep the following points in mind:
- ISB allows only one tuition waiver per student. If multiple scholarships are awarded, the highest-value scholarship will be applied.
- Scholarships requiring essays or financial documents must be submitted along with the MBA application.
- Merit scholarships generally do not require separate applications.
- Scholarship policies, eligibility criteria, and award amounts may change each admission cycle.
Final Thoughts
ISB offers one of the most comprehensive scholarship ecosystems among one-year MBA programmes in India. Whether you are applying based on academic excellence, financial need, diversity, or professional background, there are multiple opportunities to reduce the cost of your MBA.
The key is to understand the eligibility requirements early and submit all necessary documents before the application deadline. A strong application not only improves your chances of admission but also significantly increases your chances of receiving scholarship support.
Frequently Asked Questions (FAQs)
Does ISB automatically consider applicants for scholarships?
Yes. Most merit-based scholarships are awarded automatically during the admissions process. Some specialised scholarships require additional essays or supporting documents.
What is the maximum scholarship available at ISB?
Eligible applicants may receive up to a 100% tuition waiver through merit-based, need-cum-merit, or donor-funded scholarships.
Can I receive more than one ISB scholarship?
No. ISB allows only one tuition waiver. If you qualify for multiple awards, the scholarship with the highest value will be granted.
How do I apply for Need-cum-Merit Financial Aid?
You must submit a financial aid essay along with supporting income documents for yourself and your family when you submit your MBA application.
Does ISB offer scholarships for international students?
Yes. ISB offers International Diversity Waivers and several country-specific scholarships for eligible international applicants.
Are Armed Forces personnel eligible for scholarships?
Yes. ISB offers a 50% tuition waiver for Armed Forces personnel along with additional donor-funded scholarships for service members and their dependents.
What is the Develop India Scholarship?
It is a post-MBA financial support programme that helps graduates pursuing careers in the social sector by providing EMI assistance for educational loans for up to 24 months.
When should I apply for ISB scholarships?
Any scholarship requiring essays or financial documents should be submitted along with your ISB PGP application. Waiting until after receiving an admission offer may make you ineligible for certain awards.
