The key is understanding which scholarships you may be eligible for and whether you need to apply separately.
Types of scholarships at ISB
For the flagship PGP, ISB offers:
- Merit-based scholarships, awarded based on your overall application (academics, test scores, work experience, essays, recommendations and interview).
- Need-cum-Merit scholarships for applicants with a family income of up to ₹18 lakh, which require an essay and income documents.
- Diversity scholarships, including waivers for women, Armed Forces personnel, AIESEC members, international applicants and Indians returning from overseas ("Bridge to India").
- Donor-funded scholarships, supported by alumni and corporate partners, with eligibility varying by scholarship.
For PGP YL (Young Leaders), scholarships include:
- Merit-Based Scholarships of up to 100% tuition waiver.
- Need-cum-Merit Scholarships, offering up to 100% tuition waiver for applicants with family income up to ₹8 lakh, and up to 75% tuition waiver for family income between ₹8 lakh and ₹20 lakh.
- The Develop India Scholarship, along with several donor-funded scholarships supported by organizations such as the Bharti Airtel Foundation, DSP, MPS Limited, Regal Rexnord, Taparia Family and J.C. Flowers ARC.
Do you need to apply separately?
Not always.
If you're applying for merit-based scholarships, you're automatically considered as part of the admissions process, there's no separate application.
However, Need-cum-Merit and certain category-specific scholarships require additional information, such as financial documents, proof of eligibility and, in some cases, a short essay. For PGP YL, applicants seeking Need-cum-Merit support must also complete an additional scholarship section after submitting the application, followed by a scholarship interview if shortlisted.
Common misconceptions
A common myth is that scholarships are awarded solely on the basis of your GMAT or GRE score. In reality, ISB evaluates your overall profile—including your academic record, leadership, work experience, essays, recommendations and interview performance.
Another misconception is that every scholarship requires a separate application. In fact, many of ISB's merit scholarships automatically consider all admitted applicants, while only specific scholarships require additional documentation or essays.
Final takeaway
The best way to maximize your scholarship chances isn't to chase a particular GMAT score, it's to build the strongest application possible. A compelling overall profile, combined with an understanding of the scholarships you're eligible for, gives you the best chance of reducing the cost of your ISB journey.