Yet studying abroad can often incur high expenses, since—depending on where you study—you may need to account for various factors such as travel, healthcare, insurance, and visa costs.
That’s why it’s a good idea to research study abroad scholarships that can alleviate the financial burden of studying for a master’s in a new country.
So, here are 16 study abroad scholarships for business master’s students across Europe, Asia, Australia, and North America.
Study abroad scholarships for business schools in Europe
Educations.com Study a Master’s in Europe Scholarship
For applicants wishing to study a master's degree anywhere in Europe, Educations.com offers a scholarship of €5,000 ($5,715) to make this a reality.
The fund is open to students from any country who are applying to a country they do not have citizenship with and do not reside in. Those who are already an international student in that country are ineligible.
The Erasmus scheme has been Europe's flagship international study scheme since 1987. The Erasmus Mundus Joint Master's Degree involves studying your degree in at least three different institutions in three different Erasmus program countries around Europe.
Scholarships cover your participation costs and contribute to your travel and visa, as well as providing a living allowance. Application submissions should be completed between October and January for courses starting the following academic year.
United Kingdom
If you’re from a Chevening-eligible country, you can apply for a Chevening Scholarship that will fully fund your master’s degree at a UK university. Eligibility criteria includes applying to three different eligible UK university courses. You must have received an unconditional offer from at least one of these course choices by the deadlines on their website.
Applications are closed for 2025/26, and the opening for applications for 2026/27 are announced via the Chevening newsletter.
The Netherlands
The NL Scholarship (formerly known as the Holland Scholarship)
The NL Scholarship is a one-time grant of €5,000 ($5,715) available for non-EEA students starting full-time bachelor or master's programs at participating Dutch universities.
The scholarship is funded by the Dutch government and various national institutions, and is intended to help students in their first year of studies. Applicants must apply directly to their respective university, and requirements and deadlines differ between universities.
Germany
The German Academic Exchange Service (DAAD) offers scholarships for international students to study or research in Germany, covering living costs, travel, and insurance.
As well as covering PhDs and short-term research, business master’s applicants can make use of the scholarship. Applications are submitted via the DAAD portal, with details varying by program.
France
Eiffel Scholarship Program of Excellence
Formed by the French Ministry for Europe and Foreign Affairs to attract international talent to top French institutions, the Eiffel scholarship provides a monthly allowance of $1,340 for applicants to study a master’s degree in France.
Study abroad scholarships for business schools in Asia
China and HKAR
This scholarship was formed to attract talented students from eligible countries along the Belt and Road—a global infrastructure development plan created by the Chinese government—to study in China or Hong Kong.
Recipients can benefit from full tuition fee cover. Funded by the Chinese government and HKSAR, it covers tuition fees and, in many cases, living expenses and accommodation—for master's degrees as well as undergraduate and PhD programs.
Japan
The Otsuka Toshimi Scholarship supports international graduate students in Japan studying business, as well as health or medicine. Applicants must be under 39, hold a student visa, and be enrolled in full-time programs.
Scholarships range from ¥1 million to ¥2 million per year ($7,040- $14,000), covering tuition and living expenses. Selection is based on academic merit and future goals.
These are fully funded master’s scholarships for students from multilateral development bank ADB’s 40 developing member countries. Available at top Asian institutions (for example in Japan, Thailand, and The Philippines), the program covers tuition, living allowance, travel, and health insurance. Fields include economics and management, as well as science and tech.
Study abroad scholarships for business schools in Australia
Global Leaders Scholarship at the University of Queensland
International students can apply for this scholarship to study for their business master’s at the University of Queensland.
The award covers 15% to 100% of tuition fees.
Sydney Scholars India Scholarship Program
The Sydney Scholars India Scholarship is a competitive program for Indian students pursuing undergraduate or postgraduate coursework at the University of Sydney.
Each year, 28 scholarships are awarded—ranging from AU$10,000 (USD$ 6,400) to full tuition coverage—to students who show academic excellence and a commitment to making a positive impact in India. Applicants must be Indian citizens, residing in India, and hold an unconditional offer to study full-time.
Global Curtin Scholarships – Merit Scholarship
Interested in studying for a business master’s at Curtin Business School in Perth, Western Australia? This scholarship is aimed at talented international students, providing 20% off the course.
Study abroad scholarships for business schools in North America
United States
The Knight-Hennessy Scholars Program
The Knight-Hennessy Scholars Program at Stanford University offers one of the most prestigious and comprehensive scholarships for MBA students. Covering full funding for tuition, living expenses, and a travel stipend, this program also fosters leadership, innovation, and civic engagement.
With a focus on multidisciplinary collaboration, the scholarship encourages international students to apply and provides significant opportunities for personal and professional growth.
Forté Fellows Program
Designed to increase the number of women in business leadership, this program offers fellowships up to $20,000 for women pursuing MBAs at partner schools like Harvard Business School, MIT Sloan School of Management, and Dartmouth Universty’s Tuck School of Business. It also provides leadership development and networking opportunities.
To date, schools have dished out $142 million to more than 6,300 Forte Fellows.
Fulbright Foreign Student Program
This popular government-funded scholarship offers grants for international graduate students who wish to study for a postgraduate degree in the US for one year. Around 4,000 foreign students receive one of these scholarships each year.
Canada
Ontario Graduate Scholarship (OGS) Program
The Ontario Graduate Scholarship (OGS) Program is for master's and doctoral students enrolled in full-time degrees at participating Ontario universities.
This program offers $10,000 for two consecutive terms or $15,000 for three, with a maximum of two years of funding available for master’s students. Eligibility and application processes are managed by individual universities, so applicants should consult their target institutions for specific details.
Remember, that this list of master’s scholarships isn’t exhaustive so make sure to plan and take time out to research all available study abroad scholarships for international students.
You might even want to browse LinkedIn to see who has been successful for one of these awards and reach out to them to ask some questions to inform your application
