ISB Scholarships (2026): Eligibility, Types, & How to Apply

The Indian School of Business (ISB) is renowned for its world-class Post Graduate Programme (PGP), which combines academic rigor with real-world relevance. However, pursuing an ISB PGP is also a significant financial commitment.  For the Class of 2026, the total fees for the ISB PGP stand at approximately INR 38-42 lakhs, including tuition, accommodation, and other charges.

Recognizing the importance of reducing financial barriers for deserving candidates, ISB offers an extensive range of scholarships to support students in their journey toward professional excellence. Whether you’re a high-performing professional, a returning Armed Forces personnel, an international applicant, or someone looking for financial assistance, ISB scholarship offerings have something for everyone. 

This guide provides a comprehensive overview of ISB’s scholarships, their eligibility criteria, application process, and benefits, helping you navigate the financial aspect of your ISB journey with confidence.

Why ISB Scholarships Are Crucial for Your MBA Journey

Pursuing an MBA at ISB is a strategic career move, but the financial commitment is substantial. ISB scholarships and financial aid programs serve a critical purpose: they democratize access to world-class education by ensuring that talent, not just financial capacity, is the primary criterion for attendance. For many students, these scholarships are the deciding factor that makes attending ISB possible. They reduce reliance on high-interest personal loans, minimize post-MBA debt stress, and allow you to make career choices based on passion and potential, not just salary requirements for loan repayment.

Types of ISB Scholarships: A Comprehensive Breakdown

Let’s take a quick look at the different categories of ISB scholarships:

Now lets discuss the each scholarship category in detail:

Merit-Based Scholarships

ISB recognizes academic and professional excellence through several merit-based scholarships:

1. Prof. Manasa Mandava Memorial Scholarship

• Description: Exclusively for high-merit women applicants, awarded in two phases – 25% at the start of the program and 25% after completing core terms.
• Eligibility: Automatically considered.
• Scholarship Coverage: 50% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

2. ISB Merit Waiver

• Description: All applicants are automatically eligible for merit-linked tuition waivers.
• Eligibility: Automatically considered.
• Scholarship Coverage: 25%-100% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

Diversity Scholarships

ISB values diversity in educational, professional, and cultural backgrounds. Scholarships in this category include:

1. ISB Merit by Diversity Waiver

• Description: Recognizes high-merit applicants from diverse professional or educational backgrounds.
• Eligibility: Automatically considered.
• Scholarship Coverage: 25%-100% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

2. International Diversity Waiver

• Description: Awarded to international applicants holding a non-Indian passport.
• Eligibility: Automatically considered.
• Scholarship Coverage: 25%-100% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

3. AIESEC – ISB Waivers

• Description: Exclusive to applicants with AIESEC membership.
• Eligibility: Submit an essay and proof of AIESEC membership.
• Scholarship Coverage: 25% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

4. Bridge to India Waiver

• Description: Tailored for candidates working abroad and planning to return to India.
• Eligibility: Submit an essay explaining intent and goals.
• Scholarship Coverage: 25% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

5. Armed Forces Scholarship

• Description: Honors the sacrifices of armed forces personnel.
• Eligibility: Automatically considered.
• Scholarship Coverage: 50% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

Need-Cum-Merit Scholarships

Designed to support candidates with financial constraints, these scholarships focus on need and merit.

1. ISB Need-cum-Merit Waiver

• Description: For applicants with a family income of less than INR 8,00,000 (including pre-ISB income).
• Eligibility: Submit an essay and income proofs for self and family.
• Scholarship Coverage: 100% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

2.  ISB Need-cum-Merit Waiver

• Description: Family income higher than INR 8 lakhs and up to INR 20 lakhs (including applicant’s pre-ISB income)
• Eligibility: Submit an essay and income proofs for self and family.
• Scholarship Coverage: 75% of tuition fee.
• Mode of Disbursal: Tuition fee waiver.

Key Points to Note

1. Automatic Consideration for Merit-Based Scholarships: All applicants are automatically considered for merit-based scholarships unless specified otherwise.
2. One Scholarship Per Candidate: Each candidate can avail of only one scholarship or tuition waiver.
3. Dynamic Policies: ISB reserves the right to modify, withdraw, or add scholarships at its discretion.

ISB scholarships are designed to support and reward exceptional candidates, ensuring that financial constraints do not hinder access to world-class education. Evaluate your eligibility, prepare your essays (if needed), and make the most of the opportunities ISB provides!

ISB Scholarships Supported by Donors

Merit-Based Scholarships

• Bajaj Auto Scholarship
  • Description: Bajaj Auto sponsors three full-tuition merit-based scholarships. Recipients are titled “Bajaj Auto Scholars.”
  • How to Apply: No separate application required.
  • Scholarship Coverage: 100% tuition fee.
  • Mode of Disbursal: Waiver.
• Deepak Parayanken Tuition Waiver
  • Description: Sponsored by Deepak Parayanken, an alumnus from the PGP Class of 2011, this scholarship offers two merit-based awards, with at least one allocated to a female student.
  • How to Apply: No separate application required.
  • Scholarship Amount: INR 15 lakhs.
  • Mode of Disbursal: Waiver.
• Alumni Endowment Fund Tuition Waiver
  • Description: Awarded to two merit-based students annually under the Alumni Endowment Scholarship.
  • How to Apply: No separate application required.
  • Scholarship Coverage: 25% tuition fee.
  • Mode of Disbursal: Waiver.
• Tapariya Family Scholarship
  • Description: The Taparia Family has committed to supporting five PGP candidates annually through merit-based scholarships. Each awardee receives a 100% tuition fee waiver amounting to INR 25.62 lakh.
  • How to Apply: No separate application required.
  • Scholarship Coverage: 100% tuition fee.
  • Scholarship Amount: INR 25.62 lakhs.
  • Mode of Disbursal: Waiver.

Need-Cum-Merit Scholarships

• Need-Cum-Merit Scholarship (Anonymous Donor)
  • Description: Sponsored by an anonymous donor, this scholarship supports students based on financial need and merit. Awarded amounts are transferred to the student’s account post-enrollment.
  • How to Apply: Submit an ISB need-cum-merit-based application.
  • Scholarship Coverage: 25%-100%.
  • Mode of Disbursal: Paid to the student’s account.
• Anonymous Donor Scholarship
  • Description: A need-based scholarship sponsored by an anonymous donor under ISB’s need-cum-merit criteria.
  • How to Apply: Submit an ISB need-cum-merit-based application.
  • Scholarship Coverage: 25%.
  • Mode of Disbursal: Waiver.
• Vidula Jalan Scholarship
  • Description: Established by the Anshuman and Vidula Jalan Foundation in memory of Late Vidula Jalan (PGP Class of 2003), this scholarship is awarded to one male and one female student based on need-cum-merit criteria.
  • How to Apply: Submit an essay and supporting documents.
  • Scholarship Coverage: 100%.
  • Mode of Disbursal: Waiver/Refund.
• Aditya Shembekar Scholarship
  • Description: As a commemorative gesture, the alumni of PGP Class of 2013, Aditya’s family, and friends instituted a scholarship known as Aditya Shemberkar scholarship which is awarded to a student of PGP programme every year. ISB Need based criteria.
  • How to Apply: No separate application required
  • Mode of Disbursal: Waiver

Need-Based Scholarships

• Ramesh C. Khanna Nurture India Scholarship
  • Description: Instituted by Amit Khanna (PGP Class of 2004), this scholarship is awarded to a student who is the sole earning member of their family.
  • How to Apply: Submit an essay and supporting documents.
  • Scholarship Coverage: 25%.
  • Mode of Disbursal: Waiver.
• PGPMAX Co 2012 Scholarship
  • Description: Sponsored by PGPMAX Class of 2012 alumni, this scholarship is awarded to candidates from the social sector based on an essay on “Giving back to society.”
  • How to Apply: Submit an essay and supporting documents.
  • Scholarship Coverage: 25%.
  • Mode of Disbursal: Waiver.
• Jagannath Arora Scholarship
  • Description: Sponsored by Neeraj Arora (PGP Class of 2006), this scholarship supports students based on need. Recipients are titled “Jagannath Arora Scholars.”
  • How to Apply: Submit an ISB need-cum-merit-based application.
  • Scholarship Amount: INR 5 lakhs.
  • Mode of Disbursal: Waiver.

Diversity Scholarships

• Visiting Faculty Scholarship
  • Description: Awarded to one international PGP student annually, based on merit and diversity.
  • How to Apply: No separate application required.
  • Scholarship Coverage: 25%.
  • Mode of Disbursal: Waiver.
• Ishwar Prakash Agarwal Scholarship
  • Description: Instituted by Alok Aggarwal (PGP Class of 2004), this scholarship is for differently-abled candidates. If no suitable candidate qualifies, it is awarded to women returning to work after raising a family.
  • How to Apply: Submit an essay and supporting documents.
  • Scholarship Amount: INR 6 lakhs.
  • Mode of Disbursal: Waiver.
• Indira – Vasudha Scholarship
  • Description: Sponsored by Yashraj Erande (PGP Class of 2006), this scholarship is awarded to a female PGP candidate based on merit and diversity.
  • How to Apply: Submit an application for the tuition waiver.
  • Scholarship Coverage: Up to 25%.
  • Mode of Disbursal: Waiver/Refund.

Merit or Need-Based Scholarships

• Aakash Tuition Grant
  • Description: Sponsored by Aakash Chaudhry (PGP Class of 2004), this scholarship is awarded based on either merit or financial need.
  • How to Apply: No separate application required.
  • Scholarship Amount: INR 5 lakhs.
  • Mode of Disbursal: Waiver.

Scholarships for Graduating Students

• ISB’s Develop India Scholarship
  • Description: For graduating students joining social impact start-ups, NGOs, or returning to public sector roles with educational loans.
  • How to Apply: Submit an SOP.
  • Scholarship Coverage: EMI support for up to 24 months.
  • Mode of Disbursal: Paid to the student’s loan account.

Eligibility Criteria for ISB Scholarships

General Eligibility Prerequisites

To be considered for any ISB financial aid, you must:

1. Hold an admission offer for the ISB PGP (Post Graduate Programme in Management).
2. Have submitted a complete application for the specific scholarship or loan.
3. Maintain satisfactory academic progress once enrolled.

Specific Criteria by Scholarship Type

• Merit-Based: While there’s no separate form, a strong GMAT/GRE score (typically 700+ for GMAT), an excellent undergraduate GPA, outstanding career progression, and leadership accolades strengthen your case.
• Need-Based: Requires honest disclosure of family income, assets (property, investments), liabilities (existing loans), and number of dependents. The ISB financial aid committee conducts a thorough, confidential review.
• Special Category: You must belong to the defined category (e.g., woman entrepreneur, armed forces background) and often submit an essay or statement outlining your experience and contribution.

How to Apply for ISB Scholarships: A Step-by-Step Guide

Follow this clear process to navigate your ISB scholarship application.

1. Secure Your Admission: All financial aid is contingent on first receiving an offer to join the ISB PGP.
2. Access the Financial Aid Portal: After admission, you will receive credentials for the dedicated ISB financial aid portal.
3. Review All Options: Carefully go through every scholarship and loan scheme listed. Note deadlines and specific requirements.
4. Prepare Documentation: This is critical. Gather:
   • Income tax returns (ITR) of the last 2-3 years for self, parents, and spouse.
   • Salary slips, Form 16.
   • Bank statements, proof of assets and liabilities.
   • For merit/special scholarships: have your achievements and essays ready.
5. Submit Separate Applications: Apply for each relevant scholarship (need-based, diversity, etc.) through the portal before the deadline.
6. Complete Loan Applications (if needed): If opting for a partner loan, initiate the process separately with IDFC First, InCred, or Prodigy Finance, using your ISB admission letter.
7. Await Decision & Accept Award: Scholarship decisions are communicated via the portal. You must formally accept the award as per instructions.

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Final Thoughts

Pursuing an ISB PGP is a transformative step toward achieving your career goals, but financial investment can be a concern for many. ISB’s extensive range of scholarships ensures that deserving candidates, regardless of their background, have the opportunity to join this prestigious program. 

By recognizing academic excellence, promoting diversity, and providing financial aid to those in need, ISB creates an inclusive learning environment that nurtures future leaders. 

Whether you’re applying based on merit, diversity, or financial need, these scholarships can significantly ease your financial burden. Explore the options, prepare your applications thoughtfully, and take a step closer to realizing your MBA aspirations at ISB.

FAQs – ISB Scholarships