MBA is a pivotal investment for aspiring business leaders and entrepreneurs that equips individuals with essential management skills, strategic thinking, and a comprehensive understanding of various business functions. Pursuing an MBA is a significant investment in one’s future and fortunately, there are numerous scholarships available to help ease the financial burden. This guide highlights the top 10 MBA scholarships in Canada for 2024, providing financial support to make your MBA aspirations more attainable, allowing you to focus on your studies and career goals.
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Benefits of MBA Scholarships in Canada
- Financial Relief: Scholarships provide financial assistance, reducing the burden of educational costs and making education more accessible.
- Merit Recognition: Scholarships acknowledge and reward academic or extracurricular achievements, recognizing and encouraging excellence.
- Increased Opportunities: By covering tuition and related expenses, scholarships open doors for individuals who might otherwise face financial barriers to education.
- Reduced Student Debt: Unlike loans, scholarships do not require repayment, helping students graduate with less debt and greater financial freedom.
- Enhanced Career Prospects: Scholarships can boost a student’s confidence and credentials, making them stand out to employers and contributing to future career success.
- Focus on Education: Financial support from scholarships allows recipients to concentrate on their studies without the distraction of financial worries.
- Networking Opportunities: Some scholarships come with networking opportunities, connecting students with mentors, professionals, and peers in their field.
- Community Recognition: Scholarships often come with recognition within the academic community, fostering a sense of accomplishment and pride.
Top 10 MBA Scholarships In Canada For International Students In 2024
1. Ontario Graduate Scholarship Program
Application deadline varies by universities
The Ontario Graduate Scholarship (OGS) Program is a merit-based scholarship program that recognizes academic excellence in graduate studies at the master’s and doctoral levels in all disciplines of academic study. The program is jointly supported by funds provided by the Ministry of Training, College and Universities and funds provided by the universities. The OGS program encourages excellence in graduate studies at publicly-assisted universities in Ontario.
The OGS awards are based on the number of terms of consecutive studies within an academic year. The award is CAD 10,000 for two consecutive study terms and CAD 15,000 for three consecutive study terms. Each OGS award is issued for a minimum of one academic year (two or three consecutive academic terms) and a maximum of two years (up to six consecutive academic terms).
The scholarship program at the University of Toronto is jointly funded by the provincial government and the university itself. The University of Guelph also offers the OGS Program, which is jointly supported by the provincial government and the university.
You may find complete details of this scholarship here.
| Award Amount | Number of Consecutive Terms | Minimum Academic Requirements |
|---|---|---|
| CAD 15,000 | 2 | Set by respective universities |
| CAD 10,000 | 3 | Set by respective universities |
Exams to look upon
| IELTS | GRE | TOEFL |
| PTE Academics | ACT | USMLE Exam |
2. Haskayne Entrance Donor Scholarships
March 2025 (submitted along with college applications)
Haskayne Entrance Donor Scholarships are merit-based scholarships offered to incoming students pursuing a Master of Business Administration (MBA) program at the Haskayne School of Business, University of Calgary. The scholarship is designed to attract high-achieving students to the program and provide them with financial assistance.
The scholarship is open to all national and international students who have been admitted to the MBA program at the Haskayne School of Business. The eligibility criteria for the scholarship include academic excellence, leadership potential, and community involvement. The value and number of scholarships awarded may vary from year to year, and the selection process is highly competitive. Recipients of the scholarship are expected to maintain a high academic standing throughout their studies.
The value of this scholarship is anywhere between CAD 1,500 and CAD 20,000 for an individual.
| Amount | Eligibility |
|---|---|
| CAD 1,500 | All international daytime visa students are eligible for this scholarship. This scholarship is based on merit and considers GMAT and GRE scores. |
| CAD 20,000 | All international daytime visa students are eligible for this scholarship. This scholarship is based on merit and considers GMAT and GRE scores. |
3. Ivey MBA Scholarships in Canada
Deadline: Sep 23, 2024
The Ivey Business School offers a number of scholarship opportunities for MBA candidates. One such program is the Ivey MBA Loan Program, which partners with Canadian banks to create competitive loan packages for Ivey MBA candidates. Repayment terms vary across institutions, with some banks allowing individuals to make interest-only payments for twelve months following graduation.
Apart from the loan program, Ivey also offers several merit-based scholarships, including the Ivey MBA Entrance Scholarship, which is awarded to high-achieving students with outstanding academic credentials, leadership skills, and work experience. The scholarship amount ranges from CAD 10,000 to full tuition fees, depending on the candidate’s profile. Additionally, the school offers the Ivey MBA Leadership Award, which provides financial assistance to students who have demonstrated outstanding leadership qualities in their careers and community involvement. The award amount is CAD 10,000.
| Amount | Description |
|---|---|
| CAD 10,000 to full tuition fee | awarded to high-achieving students with outstanding academic credentials, leadership skills, and work experience |
4. Alberta MBA Scholarships
Deadlines: July 11, 2024, and Nov 14, 2024 (deadlines also vary as per the university deadlines for admissions
The University of Alberta’s MBA program offers a range of scholarships, awards, and bursaries to academically strong students and those in need of financial support. In the last academic year, more than CAD 1 million was available to MBA students in the form of financial assistance.
The scholarships are awarded based on different criteria such as academic performance, leadership potential, work experience, and financial need. Some of the scholarships available to students include the Women in Business Scholarship, the Indigenous Business Leadership Award, and the Alberta MBA Leadership Award. The value of these scholarships varies, and some may also be renewable for subsequent years of study.
| Scholarship | Description | Value |
|---|---|---|
| AIMCo MBA Award | Full-time MBA students with a finance specialization are eligible to receive the scholarship on an annual basis. | CAD 10,000 |
| Claude Winspear MBA Award | Available to enrolled full-time MBA students at Alberta University who possess leadership abilities and strong academic qualifications. | CAD 10,000 |
Michael Lang MBA Award | A scholarship frequently sought after by MBA students in Canada, it is exclusively granted to individuals enrolled in a full-time program. | CAD 10,000 |
5. Sauder School of Business Scholarship
Deadlines corresponds with the college application deadlines in Jan, Mar or May, 2025
The Sauder School of Business, located at the University of British Columbia, is one of the top business schools in Canada, offering a range of scholarships to help MBA students achieve their academic and career goals. These scholarships are highly competitive and aim to attract top talent from across the globe.
One of the most prestigious scholarships offered by Sauder School of Business is the Global Leader of Tomorrow Award, which is aimed at international students who have demonstrated leadership potential, academic excellence, and community involvement. This award covers the full tuition and fees for the two-year MBA program and is awarded to two outstanding candidates each year.
In addition to the Global Leader of Tomorrow Award, Sauder School of Business also offers a range of other scholarships, including:
- Women in Business Excellence Scholarship: This scholarship is awarded to female MBA candidates who have demonstrated academic excellence and leadership potential, and who are committed to promoting gender equity in the workplace.
- Forté Fellowship: This fellowship is open to female MBA candidates who are members of the Forté Foundation, a non-profit organization that aims to empower women in business. Recipients of this fellowship receive a monetary award and are also given access to a range of career development and networking opportunities.
- Diversity and Inclusion Scholarship: This scholarship is aimed at MBA candidates who come from underrepresented backgrounds and who have demonstrated academic excellence and leadership potential. Recipients of this scholarship receive a monetary award and are also given access to a range of diversity and inclusion initiatives at Sauder School of Business.
The table below provides a summary of the key details for each of these scholarships:
| Scholarship | Eligibility | Award |
|---|---|---|
| Global Leader of Tomorrow Award | International students with leadership potential and academic excellence | Full tuition and fees |
| Women in Business Excellence Scholarship | Female MBA candidates with academic excellence and leadership potential | Monetary award |
| Forté Fellowship | Female MBA candidates who are members of the Forté Foundation | Monetary award and career development/networking opportunities |
| Diversity and Inclusion Scholarship | MBA candidates from underrepresented backgrounds with academic excellence and leadership potential | Monetary award and access to diversity/inclusion initiatives |
6. Rotman School of Management Scholarships
Deadlines: Oct, Nov, Feb, Apr, Jun
The Rotman School of Management at the University of Toronto offers a variety of scholarships and financial assistance options for students pursuing their MBA degrees. These scholarships are not only available for Canadian citizens but also for international students. The school provides over CAD 1 million in award funding and financing through a broad range of options.
One of the scholarships available to international students is the University of Toronto International Merit Award. This scholarship is awarded upon admission to selected international students on the basis of merit. The award is valued up to CAD 50,000 over four years of study, with CAD 20,000 awarded in the first year and renewable for CAD 10,000 in the second, third, and fourth years.
The table below summarizes some of the scholarships available to Rotman MBA students, including eligibility criteria and award values:
| Scholarship | Eligibility Criteria | Amount |
|---|---|---|
| University of Toronto International Merit Award | Selected international students on the basis of merit | Up to CAD 50,000 over four years of study |
| Rotman MBA Excellence Award | Outstanding candidates based on academic excellence, leadership potential, and extracurricular involvement | Up to CAD 40,000 |
| Forté Fellowship | Outstanding women pursuing their MBA degree | CAD 10,000 |
7. Schulich School of Business Scholarships
Application deadline varies by course admission schedule as well as universities
The Schulich School of Business at York University in Canada provides various scholarship options to assist students with their educational expenses. The school is committed to making it possible for students with financial needs to pursue their degree and offers a range of scholarships, awards, and bursaries to recognize academic achievement and extracurricular involvement in the school and wider community.
The scholarships, awards, and bursaries offered by Schulich are among the highest value offered to business students in Canada. The awards vary in value and are available to both domestic and international students. The scholarships are typically awarded on the basis of merit, and some scholarships require applicants to demonstrate financial need. Moreover, the school has a dedicated financial aid office to assist students in navigating the financial aid process and identifying scholarship opportunities that match their eligibility criteria.
| Scholarship | Eligibility Criteria | Award Amount |
|---|---|---|
| Global Leader of Tomorrow Award | Academic excellence, leadership qualities, and community involvement | Full-tuition scholarship |
| Schulich Graduate Entrance Scholarship | Academic excellence | Up to CAD 35,000 |
| York Graduate Scholarship | Outstanding academic achievement | CAD 15,000 |
8. Ted Rogers School of Management (Ryerson University)
Application deadline could vary according to universities
The Ted Rogers School of Management, located at Ryerson University, offers a range of undergraduate and graduate programs for students interested in pursuing careers in business management. The school is one of the largest business schools in Canada, with over 7,750 full-time and 300 part-time students enrolled.
The undergraduate program at the Ted Rogers School of Management offers students the opportunity to choose among seven majors and 14 minors, which is one of the largest selections offered by any Bachelor of Commerce program in Ontario. The undergraduate programs include 12 Bachelor of Commerce degrees and two Bachelor of Health Administration degrees. The graduate programs offered at the school include the Ted Rogers MBA, a Professional Master’s Diploma in Accounting, a Master of Health Administration (Community Care), a Master of Science in Management, and a PhD in Management
One of the notable features of the Ted Rogers MBA program is its strong emphasis on sustainability. The program has been ranked 2 in Canada in Corporate Knights 2022 Better World Ranking and 8th globally for integrating sustainability into its curriculum The ranking reflects the demand for sustainability in core courses and faculty research in MBA programs worldwide.
The Ted Rogers School of Management also offers a range of student awards to support and recognize student achievement. These awards are designed to provide financial assistance to students, foster leadership and community involvement, and recognize academic excellence. Some of the awards offered include:
- The Databroker Scholarship
- The D+H Scholarship
- The Deloitte Women’s Leadership Award
- The Rogers Youth Education Award
- The Scotiabank Management Scholarship
9. Desautels Faculty of Management
Deadline: June, 2025
The Desautels Faculty of Management at McGill University in Montreal, Canada is a renowned institution that has been offering innovative business programs for over a century. The faculty has a reputation for academic excellence and is ranked among the top international business schools in the world.
The faculty offers various undergraduate and graduate programs in business, including the Bachelor of Commerce, Master of Business Administration, and Doctor of Philosophy in Management degrees. The MBA program at Desautels is particularly noteworthy and is designed to provide students with a comprehensive understanding of management concepts and practices, as well as develop their critical thinking and leadership skills.
For students seeking financial assistance, Desautels Faculty of Management offers several scholarships and awards to help offset the cost of tuition fees. These scholarships and awards are awarded based on academic merit and achievement, leadership, and extracurricular activities. The faculty offers scholarships for both domestic and international students, and the amount of the scholarship varies depending on the program and the academic performance of the student.
One such scholarship is the Desautels MBA Merit Scholarship, which is awarded to students who demonstrate outstanding academic achievement, leadership, and extracurricular involvement. The scholarship amount ranges from CAD 5,000 to CAD 30,000 and is awarded based on the quality of the student’s application, their academic achievements, and their overall potential to succeed in the program.
Another scholarship offered by Desautels is the MBA Leadership Award, which is awarded to students who have demonstrated exceptional leadership qualities in their academic, professional, or personal life. This scholarship is valued at CAD 10,000 and is awarded to one student in each incoming MBA class.
| Scholarships | Description | Amount |
|---|---|---|
| Desautels MBA Merit Scholarship | awarded to students who demonstrate outstanding academic achievement, leadership, and extracurricular involvement | CAD 5,000 to CAD 30,000 |
| MBA Leadership Award | awarded to students who have demonstrated exceptional leadership qualities in their academic, professional, or personal life | CAD 10,000 |
10. Queen’s University, Smith School of Business
Deadline: Dec, Mar
The Smith School of Business at Queen’s University is a highly renowned business school in Canada. The school was established over a century ago and has since been a pioneer in offering innovative and cutting-edge programs in business education. The School offers a variety of undergraduate and graduate-level programs, including Bachelor of Commerce (BCom), Master of Business Administration (MBA), Executive MBA (EMBA), Accelerated MBA (AMBA), and Master of Science (MSc) programs in Management, Analytics, and Finance, among others.
In recognition of the generous gift of CAD 50 million from Queen’s alumnus Stephen Smith, the school was renamed the Stephen J.R. Smith School of Business at Queen’s University in 2015. This extraordinary gift is the largest ever made to a Canadian business school and will enable the school to continue to innovate and lead in business education.
The Master of International Business (MIB) program at the Smith School of Business is a highly sought-after program designed for individuals seeking a career in international business. The program offers a comprehensive curriculum that covers all aspects of international business, including international trade, global finance, and cross-cultural management, among others. The program also provides students with opportunities to study abroad, participate in case competitions, and network with industry professionals.
| Scholarship/Bursary | Eligibility Criteria | Value |
|---|---|---|
| The Donald R. Sobey Bursary | Awarded based on financial need | Up to CAD 25,000 |
| The Duncan Anderson Entrance Award | Awarded based on academic achievement and extracurricular activities | Up to CAD 10,000 |
| The Leslie H. MacLeod Memorial Award | Awarded based on academic achievement and extracurricular activities | Up to CAD 5,000 |
| The Overseas Study Award | Awarded to MIB students studying abroad | Up to CAD 5,000 |
| The Smith School of Business Graduate Awards | Awarded based on academic achievement and extracurricular activities | Up to CAD 10,000 |
What is the eligibility criteria for these scholarships?
The eligibility criteria for these scholarships can vary depending on the scholarship. However, most scholarships require applicants to have a strong academic background and relevant work experience. Some scholarships may also have specific eligibility criteria based on nationality, gender, or other factors.
How much funding do these scholarships typically provide?
The amount of funding provided by these scholarships can vary widely. Some scholarships may cover tuition and living expenses, while others may only provide a partial tuition waiver or a one-time grant. It’s important to research each scholarship carefully to determine the amount of funding that is available.
How can I apply for these scholarships?
The application process for these scholarships can vary depending on the scholarship. Some scholarships may require applicants to submit a separate application, while others may consider all applicants automatically based on their application for admission. It’s important to research each scholarship carefully to determine the application requirements and deadlines.
You may check How To Apply For Scholarships In Canada here
Can I get 100% scholarship for MBA in Canada?
It is possible to receive a full scholarship for an MBA program in Canada, but it is generally quite rare and competitive. Scholarships can be offered by the business school itself, by the government, or by private organizations. They may be based on financial need, academic achievement, leadership potential, or a combination of factors. To be considered for a scholarship, you will usually need to submit an application and additional materials, such as essays and transcripts. It is important to research the different scholarships available and apply to as many as you are eligible for to increase your chances of receiving one.
Which MBA offers most scholarships in Canada?
There is no definitive answer to which MBA program in Canada offers the most scholarships, as it can vary from year to year and depend on the specific qualifications of the applicants. However, some top MBA programs in Canada that are known to have a strong track record of offering scholarships include:
- University of Toronto, Rotman School of Management
- York University, Schulich School of Busines
- University of British Columbia, Sauder School of Business
- University of Alberta, School of Business
- Queen’s University, Smith School of Business
It’s worth noting that many MBA programs in Canada, including those listed above, offer a mix of scholarships and bursaries. Bursaries are financial awards based on financial need, whereas scholarships are awarded for academic or other achievements.
It’s always best to check the official website of the school you’re interested in and look for the financial aid option to see what scholarships are being offered and the criteria for them.
How much CGPA is required for fully funded scholarship?
The specific GPA requirements for a fully funded scholarship can vary depending on the institution and the scholarship program. Some scholarships may have a minimum GPA requirement, while others may not have any specific GPA requirement but may consider your GPA as part of their overall evaluation of your application.
Generally speaking, scholarships that are awarded based on academic achievement tend to have higher GPA requirements than those based on financial need or other factors. For example, some top MBA programs in Canada require a minimum GPA of 3.0 or 3.2 on a 4.0 scale, and a few even go as high as 3.5 or above.
It’s worth noting that even if your GPA is below the minimum required, you may still be considered for other scholarships or bursaries based on other factors such as leadership, community involvement, and professional experience. And also it’s always best to check the official website of the school you’re interested in and look for the financial aid option to see what scholarships are being offered and the criteria for them.
You may also read Fully Funded Scholarships In Canada For International Students
How much GMAT score is required to get MBA Scholarships in Canada?
The GMAT criteria for scholarships that are given out based on academic achievement are typically higher than those that are given out based on financial need or other considerations. For instance, several of Canada’s top MBA programmes require a minimum GMAT score of 600 or above. However, certain institutions might also have a range of scores that they take into account.
Additionally, it’s important to note that not all MBA programmes demand the GMAT. If you have a particular number of years of experience, as well as other academic achievements like a higher degree or other professional certifications, certain colleges will also waive the GMAT requirement.
Check out the top universities to do MBA without GMAT in Canada
Can an average student get full scholarship?
It is possible for an “average” student to receive a full scholarship, but it is generally quite rare and competitive. The term “average student” can refer to someone who has a decent academic record, but may not have particularly high grades or test scores. Scholarships are typically given out based on a number of criteria, including financial need, academic performance, leadership potential, or a combination of criteria.
However, there are also scholarships that are awarded based on financial need, which may be more accessible for students who have lower grades or test scores. Additionally, scholarships also may be awarded for other factors such as leadership potential, community involvement, or diversity.
It’s best to research the different scholarships available and apply to as many as you are eligible for. Even if you are not awarded a full scholarship, you may still be considered for partial scholarships or other forms of financial aid, which can still be helpful in paying for your education. Also, you can also check for schools or program specific scholarships or grants that are tailored for students with lower scores, but with potential and abilities to excel in their field of study.
Tips For Securing MBA Scholarships For International Students In Canada In 2024
- Explore various scholarship opportunities offered by Canadian universities, government programs, and private organizations to identify suitable options.
- Start the scholarship application process early, as many programs have deadlines that precede or align with the MBA admissions process.
- Emphasize your academic achievements and showcase a strong academic record to stand out in scholarship applications.
- Highlight leadership skills and involvement in extracurricular activities, demonstrating a well-rounded profile beyond academics.
- Write a persuasive personal statement that outlines your career goals, achievements, and how the scholarship aligns with your aspirations.
- Obtain strong letters of recommendation from professors, employers, or mentors who can vouch for your capabilities and potential.
- Some scholarships consider financial need. Clearly articulate your financial situation and how the scholarship will support your MBA journey.
- Engage with professionals in your field through networking events and online platforms, as some scholarships may consider your industry connections.
- Tailor your scholarship applications to align with the specific criteria and objectives of each program, showcasing how you fulfill their requirements.
- Consult with academic advisors, career counselors, and alumni who may provide valuable insights and guidance on scholarship opportunities.
By following these tips, aspiring MBA students can enhance their chances of securing scholarships in Canada, easing the financial aspects of their education.
Frequently Asked Questions
Plenty of top MBA universities in Canada provide good scholarships like the University of Canada West, the University of Toronto, etc. You may find some of the best ones shortlisted by us in this post: Top & best MBA Universities For MBA In Canada.
Studying for an MBA in Canada has numerous benefits, including abundant financial support through scholarships, a clear pathway to permanent residency, academic excellence, international recognition, a strong job market, post-graduation work permits for up to three years, and easier access to global job markets. These factors collectively make Canada an attractive destination for MBA education.
No, however, you may apply for affordable colleges like TSoM, CCTB, etc. You may also check fully funded scholarships based on your eligibility criteria.