ISB Mohali Scholarships 2026: Application, Loans & Eligibility

ISB Mohali scholarships cover 25% of every PGP batch, with tuition waivers ranging from 25% up to a full 100% of the fee, depending on which scholarship a candidate qualifies for. The Indian School of Business runs this financial aid programme across several tracks: merit-based scholarships for strong all-round applicants, need-cum-merit waivers for candidates below a set family income, diversity scholarships for those from under-represented academic or professional backgrounds, and a set of donor-funded scholarships backed by ISB alumni, companies, and foundations. There's also a separate scholarship track for international applicants and a post-graduation support scheme for students moving into social impact roles. Together, these make ISB's flagship Postgraduate Programme (PGP) financially reachable for candidates who'd otherwise opt out of this top b-school for the tuition fees only.

Indian School of Business Mohali Scholarships Overview

Indian School of Business Mohali offers 29 scholarships across merit, need, donors, etc. Depending on the type, the scholarships are available for all applicants, waiving 25% to 100% of the tuition fees. Merit-based waivers range from INR 660,000 to full tuition coverage. Need-based scholarships are available for candidates from economically disadvantaged backgrounds. ISB diversity scholarships support candidates from varied educational and professional domains.

This premium business school automatically considers all applicants for merit scholarships during the admission process, eliminating the need for separate applications in most cases. Scholarships are disbursed either as tuition waivers or direct refunds depending on the category, with each candidate eligible to receive only one scholarship or waiver to make sure that the batch receives equal distribution of the scholarships. All these scholarships reduce the burden of the ISB Mohali fees, considering the PGPM course at this institution costs over INR 40,00,000.

Types of Scholarships Available at ISB Mohali

Primarily, ISB Mohali scholarships are available in three categories, namely merit, need-cum-merit, and diversity. According to the official website of ISB scholarship, the financial aids are available for all students irrespective of financial background. However, the disbursement of certain scholarships is based on certain financial backgrounds.

ISB Mohali Merit-based waivers

The ISB merit-based scholarships are available for applicants with a strong overall admission profile, which includes academic merit, extracurricular activities, and overall appearance of the profile.

The following table represents the merit-based waivers available at the Indian School of Business Mohali:

ISB Mohali Need-Cum-Merit waivers

The need-cum-merit scholarships are available for applicants whose family income falls below a set threshold. The following table represents the need-cum-merit-based waivers available at the Indian School of Business Mohali:

ISB Mohali Diversity Waivers

ISB Mohali diversity scholarships are available for applicants from under-represented academic, professional, or geographic backgrounds. The Ishwar Prakash Agarwal Scholarship is only available for the differently-abled candidates or, failing that, women returning to work after a career break.

The following table represents the diversity-based waivers available at the Indian School of Businesss Mohali:

Donor-Funded Scholarships at ISB Mohali

Beyond ISB's own funding, a long list of alumni, companies, and foundations sponsor named scholarships each year. Most need an essay and supporting documents; a few need no separate application. Here is the full, current list:

ISB Mohali Scholarship for Defence Personnel and Armed Forces Families

Indian School of Business Mohali offers an Armed Forces Scholarship to recognise the contribution of serving and retired defence personnel. It provides a 50% tuition fee waiver, and eligible applicants are automatically considered during the admission process, so there is no need to submit a separate application.

The Brigadier V.H.M. Prasad (Retd) Scholarship is a donor-funded award worth INR 10 lakh. It is available to serving and retired armed forces personnel and their dependants (children, spouses, or siblings) as well as those expected to retire within the next six to eight months. Unlike the Armed Forces Scholarship, applicants must submit a separate application along with the required supporting documents.

ISB Mohali Scholarship for Women Candidates

Two scholarships specifically favour women applicants:

• The Prof. Manasa Mandava Memorial Scholarship, covering 50% of the tuition fee, is reserved for a woman applicant high in merit.
• The Deepak Parayanken Tuition Waiver, a donor-funded scholarship worth INR 15 lakh, where at least one of the two awards each year goes to a female student.

Women applicants also remain fully eligible for every other merit-based and diversity waiver. These two are simply reserved specifically for them.

ISB Scholarship for International Students

International applicants have their own dedicated pool of scholarships, separate from the domestic merit and need-based waivers:

The AIESEC and Bridge to India scholarships need an essay submitted along with the admission application. The La Caixa/Casa Asia and Talentia awards are run by those respective organisations, so applicants need to follow the process on the sponsor's own website.

ISB Develop India Scholarship (For Graduating Students)

Indian School of Business Mohali also offers a scholarship for the students who are about to graduate from ISB, under the name of the Develop India Scholarship. If a student starts a social-impact start-up, a non-profit, an NGO, or the development sector or returns to a government or PSU role, and the student has taken an education loan, ISB's Develop India Scholarship helps by paying that loan's EMIs for up to 24 months directly into your loan account. The students need to apply with a statement of purpose explaining their career move.

ISB Mohali Scholarships Eligibility

Depending on the type, the ISB scholarship eligibility varies.

ISB Mohali Merit Scholarships Eligibility

ISB Merit Waiver is the broadest scholarship ISB offers, and it is also the easiest to get, in the sense that you do nothing extra for it. Every applicant is automatically considered for a merit-linked tuition waiver as part of the regular admission review.

There is no minimum GMAT or GRE score published as a cut-off for this waiver — ISB looks at your whole application, including academics, work experience, and interview performance, and decides the waiver percentage on that basis. The waiver can be anywhere between 25% and 100% of the tuition fee.

Alongside the general merit waiver, ISB also runs the Prof. Manasa Mandava Memorial Scholarship, reserved for a woman applicant who ranks high on merit. The Prof. Manasa Mandava Memorial Scholarship covers 50% of the tuition fee in total. This one is paid out in two parts:

• A quarter of the tuition fee at the start of the programme
• The rest once the core terms are completed.

ISB Mohali Need-Based Scholarships Eligibility

Offering 6 scholarships under the need-cum-merit category at the Indian School of Business Mohali, the eligibility criterion is to have an annual income below a certain threshold.

• If the family income of the candidate, including his/her own pre-ISB income, is up to INR 8 lakh a year, you can be considered for a 100% tuition fee waiver.
• If the family income of the candidate is above INR 8 lakh and up to INR 20 lakh a year, he/she can be considered for a 75% tuition fee waiver.

Unlike the merit waiver, the need-cum-merit scholarships at ISB are not automatic. The candidates need to submit a written essay along with proof of income for themselves and their family. ISB reviews both the essay and the documents before deciding the award.

ISB Mohali Diversity Scholarships Eligibility

ISB Merit by Diversity Waiver is for those applicants who bring in a different academic or professional background into the classroom, and it rewards that through two diversity-linked waivers:

• ISB Merit by Diversity Waiver
  • For applicants from academic streams or professions that are less common in the PGP batch, combined with a strong merit profile.
  • Covers 25% to 100% of the tuition fee.
• International Diversity Waiver
  • For applicants who hold an international passport and also rank high on merit.
  • Also covers 25% to 100% of the tuition fee.

Both waivers are considered automatically; there is no separate diversity scholarship form to fill in.

ISB Mohali Scholarships Required Documents

The documentation requirements for Indian School of Business Mohali scholarships ensure proper verification of eligibility and need. Candidates typically must submit the following documents during the admission or scholarship application process:

• Income certificates and tax returns (for need-based scholarships demonstrating family income below INR 18 lakh)
• Academic transcripts and degree certificates from undergraduate and previous educational institutions
• GMAT/GRE scorecards reflecting entrance examination performance
• Professional experience letters and employment verification documents
• Essays or statements of purpose (for specific donor-supported or diversity scholarships as requested)

How to Apply for the ISB Mohali Scholarship?

To apply for the ISB Mohali scholarship, the candidates should follow the following steps:

Step 1: During the ISB Mohali admission, the candidates should apply for the ISB Postgraduate Programme (PGP) by completing the online application form.

Step 2: Review the eligibility criteria for the scholarships offered by ISB, including merit-based, need-based, diversity, and partner scholarships.

Step 3: Submit all mandatory documents such as academic transcripts, GMAT/GRE scores (if applicable), work experience details, essays, and recommendation letters along with your admission application.

Step 4: If the scholarship requires a separate application (such as need-based or partner scholarships), complete the additional scholarship form and upload the required documents, including financial proof or Statement of Purpose (SOP), before the specified deadline.

Step 5: For merit-based scholarships that mention "No separate application required", the candidate will automatically be considered based on the strength of their admission application.

Step 6: Submit their applications within the admission round to maximise the scholarship consideration, as some scholarships are evaluated during the admission process.

Step 7: Shortlisted candidates may be asked to provide additional information or documents if required by the admissions committee.

Step 8: Scholarship decisions are communicated along with or after the admission offer, depending on the scholarship category. Tuition fee waivers are adjusted against the programme fee for selected candidates.

Documents Required for ISB Mohali Scholarship

Applicants applying for ISB scholarships that require a separate application should keep the following documents ready:

• Scholarship Essay: A written essay based on the scholarship requirements. Topics may include your career journey, long-term goals, commitment to social impact, or reasons for returning to India.
• Income Proof: Valid income documents of the applicant and/or family members, as applicable, for need-based or need-cum-merit scholarships.
• Supporting Certificates: Relevant documentary evidence, such as AIESEC membership proof, armed forces service records, disability certificates, or other documents specified under the scholarship criteria.
• Admission Documents: All documents required for the ISB PGP admission process, including academic transcripts, standardised test scores, work experience details, essays, and letters of recommendation, as scholarship applications are evaluated alongside the admission application.

ISB Mohali Fee Waiver vs Education Loan: Which Should You Choose?

The fee waivers and scholarships of ISB Mohali reduce the amount a student is required to pay, whereas an ISB education loan helps finance the programme by allowing repayment over a fixed tenure. For candidates with an annual family income below INR 20 lakh, applying for the Need-cum-Merit Waiver is advisable, as eligible students may receive a 75% to 100% tuition fee waiver.

Any remaining expenses, including hostel fees, living expenses, and the uncovered portion of tuition fees, can be financed through an education loan for ISB. Many leading banks and financial institutions offer ISB PGP education loan options with competitive interest rates and flexible repayment terms. As a result, many admitted students fund their studies through a combination of an ISB scholarship and an education loan, helping reduce their overall financial burden while pursuing the programme.

The following are some options in the ISB education loan category:

ISB Mohali Scholarship FAQs