International students can fund a business degree abroad through a combination of university scholarships, government programs, and private foundation awards, and most of these opportunities are open to applicants from outside the host country. This guide covers ten well-established international business scholarships, explains what each one typically supports, and shows you how to compare them and put together a competitive application.
Top 10 International Business Scholarships at a Glance
The list below focuses on scholarships that are genuinely international in scope and relevant to business, management, or economics study. Some are full-ride awards; others cover tuition, living costs, or specific program fees.
- Chevening Scholarships (UK government, one-year master’s degrees including business programs)
- Erasmus Mundus Joint Masters (European Union, multiple countries, includes business and management tracks)
- Commonwealth Scholarships (UK, for students from Commonwealth countries)
- Fulbright Foreign Student Program (United States, graduate study and research)
- Australia Awards (Australian government, for students from eligible partner countries)
- Rhodes Scholarship (University of Oxford, postgraduate study including the MBA)
- Knight-Hennessy Scholars (Stanford University, graduate study across disciplines)
- DAAD Scholarships (Germany, for international students at German universities)
- Swiss Government Excellence Scholarships (Switzerland, for foreign scholars and researchers)
- Rotary Peace Fellowships (professional development and master’s programs tied to peace and development)
How to Compare Scholarships Before You Apply
Not every award covers the same costs, and a scholarship that looks generous on paper may leave you covering living expenses yourself. Compare the essentials side by side before investing time in an application.
| Scholarship | Typical Level | What It Usually Covers | Who Can Apply |
|---|---|---|---|
| Chevening Scholarships | One-year master’s | Tuition, living allowance, travel, and some additional costs | Citizens of eligible Chevening countries |
| Erasmus Mundus Joint Masters | Master’s (multiple countries) | Tuition, travel, and a monthly living allowance (varies by program) | Applicants worldwide, including non-EU students |
| Commonwealth Scholarships | Master’s and PhD | Tuition, stipend, and travel (varies by scheme) | Citizens of eligible Commonwealth countries |
| Fulbright Foreign Student Program | Graduate study and research | Tuition, living stipend, and insurance (varies by country program) | International students applying through their home country |
| Australia Awards | Undergraduate and postgraduate | Tuition, stipend, and travel (varies by country) | Citizens of eligible partner countries |
| Rhodes Scholarship | Postgraduate at Oxford | University fees and a stipend | Applicants from eligible countries and regions |
| Knight-Hennessy Scholars | Graduate study at Stanford | Funding toward tuition and living costs | Applicants to Stanford graduate programs worldwide |
| DAAD Scholarships | Master’s, PhD, and research | Monthly stipend, travel, and insurance (varies by program) | International students and researchers |
| Swiss Government Excellence Scholarships | PhD and postdoctoral research | Monthly stipend and related allowances | Foreign researchers and artists from eligible countries |
| Rotary Peace Fellowships | Master’s and certificate | Tuition, living expenses, and travel | Applicants committed to peace and development work |
Use this table as a starting point, then confirm the current terms on each provider’s official page, because coverage and eligibility change between application cycles.
Government-Funded Business Scholarships
Governments run some of the most reliable scholarship schemes for international students, and many of them accept business and management applicants. These awards usually come with conditions such as returning home after study or committing to a specific field.
Chevening Scholarships
Chevening is the UK government’s international scholarship scheme, funding one-year master’s degrees at UK universities. Business and management courses are commonly funded, and the award typically covers tuition, a living allowance, and travel.
Applicants usually need work experience and must meet English language requirements, so check the official Chevening scholarship page for eligibility and deadlines before you start.
Erasmus Mundus Joint Masters
Erasmus Mundus programs are joint master’s degrees delivered by consortia of European universities, and several focus on business, economics, or management. Students often study in more than one country during the program, which makes them attractive for anyone wanting an international business education.
Each joint master’s program runs its own application, so review the official Erasmus Mundus catalogue to find relevant programs and their funding rules.
Commonwealth Scholarships
Commonwealth Scholarships support students from Commonwealth countries studying in the UK, and some schemes cover master’s degrees in business-related fields. Eligibility depends on your home country and the specific scheme.
Details are published by the Commonwealth Scholarship Commission, including which countries and subjects are supported in each round.
Australia Awards
Australia Awards are funded by the Australian government and support students from eligible partner countries, including postgraduate business study. The awards generally cover tuition, a stipend, and travel, but terms vary by country program.
Check the official Australia Awards page for the country-specific application process.
University-Led Business Scholarships
Many leading universities run their own scholarship programs for international students, and business schools often have dedicated funding. These awards tend to be more competitive but can be combined with other funding in some cases.
Rhodes Scholarship
The Rhodes Scholarship funds postgraduate study at the University of Oxford, and the Oxford MBA is among the eligible courses. It covers university fees and a stipend, and selection is based on academic achievement, leadership, and character.
Applicants apply through their country or region’s selection process, explained on the official Rhodes Scholarship page.
Knight-Hennessy Scholars
Knight-Hennessy Scholars at Stanford University funds graduate study across disciplines, including the Stanford Graduate School of Business. The program provides funding toward tuition and living costs and emphasizes leadership development.
Applicants apply to a Stanford graduate program and the scholarship together, so review the official Knight-Hennessy Scholars page for the process.
Country-Specific Scholarships for Business Study
Several countries run national scholarship schemes aimed at international students, and business and economics are often eligible subjects. These are worth checking if you have a specific destination in mind.
Fulbright Foreign Student Program
The Fulbright Foreign Student Program brings international students to the United States for graduate study and research, and business programs are commonly supported. Funding and application procedures are managed by the Fulbright commission or US embassy in your home country.
Start with the official Fulbright Foreign Student Program page to find your country’s process.
DAAD Scholarships
DAAD, the German academic exchange service, offers scholarships for international students at German universities, including master’s and research programs in business and economics. Awards typically include a monthly stipend, travel allowance, and insurance.
Browse the official DAAD scholarship database to filter by subject and level.
Swiss Government Excellence Scholarships
These scholarships support foreign researchers and artists studying in Switzerland, and some are relevant to doctoral or postdoctoral work in economics and management. They typically provide a monthly stipend and related allowances.
Eligibility and application routes are listed on the official Swiss government scholarships page.
Rotary Peace Fellowships
Rotary Peace Fellowships fund master’s degrees and professional development certificates at Rotary Peace Centers, with a focus on peace and development. Some fellows pursue related fields such as international relations and development economics.
Review the official Rotary Peace Fellowships page for eligibility and application timing.
Private and Foundation Scholarships
Beyond governments and universities, foundations and professional organizations offer funding that can be relevant to business students. These awards are often smaller but can be combined with other sources of funding.
- Professional bodies in accounting, finance, and management sometimes offer student awards or grants.
- Corporate foundations occasionally fund scholarships for students in specific regions or fields.
- Alumni associations of business schools may offer partial scholarships to incoming students.
- Local charitable trusts in your home country sometimes support overseas study.
Search each organization’s official site directly rather than relying on third-party lists, and confirm that business study is an eligible field.
What These Scholarships Usually Cover
Coverage varies widely, and understanding the difference between a full award and a partial one helps you plan your budget realistically.
- Full funding: tuition, living allowance, travel, and sometimes insurance or books.
- Partial funding: tuition only, or a fixed contribution toward costs.
- Stipend-based awards: a monthly payment that you use for living costs.
- Fee waivers: a reduction in tuition rather than a cash payment.
- Travel grants: funding for flights or relocation costs only.
Always read the award conditions, because some scholarships cannot be combined with others and some require you to return home after graduation.
Documents You Will Typically Need
Most international business scholarships ask for a similar set of documents, and preparing them early saves time across multiple applications.
- Academic transcripts and degree certificates
- English language test scores where required
- A personal statement or statement of purpose
- Letters of recommendation from academic or professional referees
- A CV or resume showing work experience
- Proof of citizenship or residency
- A study plan or proposed program of study
- Sometimes a portfolio or essay specific to the scholarship
Requirements differ by provider, so check the official eligibility criteria for each scholarship rather than assuming a single checklist applies.
How to Build a Competitive Application
Strong applications connect your past experience to a clear future goal, and they show why the specific program and country make sense for you. Reviewers read many applications, so specificity matters more than length.
- Explain why you chose this program and this country, not just why you want to study abroad.
- Show leadership through concrete examples from work, volunteering, or projects.
- Link your study plans to a realistic career goal after graduation.
- Ask referees who know your work well and can give specific examples.
- Tailor your personal statement to each scholarship’s stated values.
- Proofread carefully and follow word limits exactly.
Common Mistakes to Avoid
Many strong candidates are rejected for avoidable reasons rather than a lack of merit.
- Missing the deadline because you waited for a reference letter.
- Submitting a generic statement that could apply to any scholarship.
- Ignoring eligibility rules such as nationality, age, or work experience.
- Applying to a program that is not on the scholarship’s eligible list.
- Failing to check whether English language requirements are met.
Planning Your Timeline
Scholarship applications often open many months before the course begins, and some require you to apply to a university first. A simple timeline helps you avoid last-minute pressure.
- Research scholarships and shortlist programs well ahead of the academic year.
- Register for English language tests early if you need them.
- Request references with plenty of notice.
- Submit university applications before scholarship deadlines if required.
- Keep copies of every submission and confirmation email.
Conclusion
The strongest international business scholarships come from governments, universities, and foundations, and each has its own eligibility and coverage rules. Start by shortlisting awards that match your nationality, study level, and career goals, then verify the current terms on the official pages before applying. Careful preparation of documents and a specific, honest personal statement will do more for your chances than applying to every scheme you find.
Frequently Asked Questions
Can international students get scholarships for business degrees?
Yes. Many governments, universities, and foundations fund international students in business and management programs. Eligibility usually depends on nationality, study level, and the specific program, so check each provider’s official page.
Do these scholarships cover living costs as well as tuition?
Some do, especially full awards like Chevening and the Rhodes Scholarship, which typically include a stipend as well as fees. Others cover tuition only or provide a fixed contribution, so read the award terms carefully.
Can I apply for more than one scholarship at the same time?
Often you can apply to multiple scholarships, but some awards do not allow you to hold more than one at once. Check the conditions of each scholarship before accepting an offer.
Do I need work experience to qualify?
Some programs, such as Chevening, typically require relevant work experience, while others focus mainly on academic achievement. Requirements vary, so confirm the eligibility rules for each award.
Are there scholarships specifically for MBA study?
Yes. Business schools often offer their own MBA scholarships, and some external awards such as the Rhodes Scholarship can fund an MBA at eligible universities. Check the business school’s official funding page as well as external providers.
Is an English language test required for these scholarships?
Most scholarships require proof of English proficiency if your degree was taught in another language, but the accepted tests and score requirements vary. Confirm the specific requirement on the scholarship and university pages.
Can I combine a scholarship with part-time work?
Many student visa rules allow limited part-time work, but scholarship conditions and visa rules differ by country. Check both the scholarship terms and the official student visa requirements for your destination.
How competitive are international business scholarships?
Competition varies widely by award and applicant pool. Well-known schemes attract large numbers of applicants, while smaller foundation or university awards may have fewer. A specific, well-prepared application improves your chances.
Do I have to return to my home country after graduation?
Some government scholarships require or expect scholars to return home for a period after study, while others do not. This is a key condition to check before accepting an award.
Where can I verify scholarship details?
Always use the official provider’s website, such as the government scholarship page or the university’s funding page. Third-party lists can be outdated, so confirm deadlines, eligibility, and coverage directly with the source.