Chicago Booth Scholarships

Chicago Booth, also referred to as the University of Chicago Booth School of Business, is the graduate-level business school of the University of Chicago, which is a private research university located in Chicago, Illinois. Booth is famous for its Full-Time MBA Program which provides a profound and immersive two-year journey that can have a lasting impact on your life. The program can be expensive, but the investment you make in it will yield returns throughout your career, giving you access to a powerful global network and the self-assurance to lead with conviction. There are numerous scholarships available to support Indian students who aspire to pursue an MBA at Booth School. This write-up aims to equip you with all the essential details necessary for you to benefit from the scholarships that best match your qualifications.

Scholarships at Chicago Booth for Indian Students

Booth Business School offers three scholarships specifically for Indian students:

The India Trust Fellowship

The India Trust Fellowship is a merit-based scholarship established through the contributions of individuals, corporate entities, alumni, and foundation donors. This scholarship recognizes students who have demonstrated exceptional academic and extracurricular accomplishments and are committed to advancing the interests of women in business. The fellowship awards USD 10,000 in tuition fees to two students who have lived and worked in India at the time of admission to the full-time MBA program at Booth School.

Akhtarali H. Tobaccowala Fellowship

The Akhtarali H. Tobaccowala Fellowship was created in memory of a 1952 Chicago Booth graduate. This scholarship is designed for students interested in pursuing an MBA in Business Management at the Chicago Booth School of Business. All eligible applicants are automatically considered for this scholarship. The selection process is based on a comprehensive evaluation of factors such as educational background, experiences, interests, geographic location, and goals as indicated in the admission application.

Ramakrishnan Family Scholarship

The Ramakrishnan family has generously donated $3 million to support a scholarship at the University of Chicago Booth School of Business for students from India. The Ramakrishnan Family Scholarship program provides tuition assistance to three incoming students from India who are enrolled in the full-time MBA program at Chicago Booth with each recipient receiving a total of 50,000 USD throughout the two-year program in the form of 25,000 USD per year.

Requirements for Chicago Booth Scholarships

There are no particular requirements for availing of these scholarship funds, other than being enrolled in the Booth School MBA programs. The requirements for enrolling in Chicago Booth School MBA programs:

  • Undergraduate transcripts and degrees as proof of academic qualifications
  • Proof of English language proficiency with a minimum score of 104 on TOEFL-iBT, 600 on TOEFL-PBT, 7.0 on IELTS, or 70 on PTE Academic
  • Two letters of recommendation, one from an academic source and the other from a professional source
  • Response to two application questions, with a minimum of 250 words for each answer
  • Standardized test scores such as GRE/GMAT.

Eligibility Criteria for Chicago Booth Scholarships

To qualify for scholarships at the University of Chicago Booth School of Business, you need to meet two conditions: 

  • first, you must be living and working in India at the time of your application, and 
  • second, you must meet the eligibility requirements for the full-time MBA program at Booth School of Business

The Application Process for Chicago Booth Scholarships

There is no separate application process for these fellowships and scholarships. All applicants are evaluated based solely on the information they provide within their application, and decisions are made accordingly.

Selection Process for Chicago Booth Scholarships

The selection process for these awards is rigorous, with competition among applicants being quite high. The recipients are selected based on a range of factors such as 

  • academic excellence, 
  • the intended area of study, 
  • competitiveness, 
  • career aspirations, and 
  • life experiences. 

The final decision is communicated at admission, and the awards are granted accordingly.

Benefits of Chicago Booth Scholarships

Scholarships based on merit are available for Full-Time MBA students at Chicago Booth, with amounts ranging from $10,000 to $30,000 per year and renewable for the two-year duration of the program.

The Akhtarali H. Tobaccowala Fellowship provides various advantages to Indian students, which include an annual scholarship grant of up to $25,000 for each chosen awardee. This financial support can be particularly beneficial for MBA students, who often encounter financial difficulties due to the program’s exorbitant expenses.

Two students who have resided and worked in India during their admission to Booth School’s full-time MBA program are eligible to receive a tuition fee grant of USD 10,000 each through the India Trust Fellowship.

The Ramakrishnan Family Scholarship initiative offers financial aid for tuition to three new students from India who have registered for the full-time MBA program at Chicago Booth. The program provides each awardee with a total of 50,000 USD for the two-year duration, with a yearly disbursement of 25,000 USD.


Chicago Booth is a hub for those who are willing to take risks and defy conventional norms. It is a place where individuals with grand aspirations not only imagine incredible feats but also strive to make them a reality. It is a breeding ground for visionary leaders, and if you want to be one, and avail of an MBA scholarship, we can help you.

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ALLEN Global Studies Division aims to unlock international prospects for Indian students. We provide students with a platform to discover academic avenues beyond traditional parameters. Our objective is to furnish students with the necessary knowledge, abilities, principles, and ethical guidance essential for a global profession, empowering them to become top-notch professionals. With our vast resources and specialized knowledge, we can assist you at every stage of the application process. If you want to stay well-informed and receive operational guidance throughout every phase of your global applications, consider enrolling in ALLEN Global Studies Division.

Frequently Asked Questions

How do I get a scholarship for Chicago Booth?

Booth School provides a wide range of merit-based MBA scholarships for talented students. These awards do not require a formal application process, as all applicants are evaluated based on the information provided in their applications. The final decision is solely based on this evaluation.

Does Chicago Booth give scholarships?

Booth School offers a limited number of merit-based scholarships to admitted students of the evening MBA and weekend MBA, thanks to the generosity of their alumni. These scholarships do not require an additional application, and the selection process is solely based on your MBA application.

What is the average scholarship at Chicago Booth?

The Merit-Based scholarships offered by Chicago Booth range from $10,000 to $30,000 per year, and are renewable for the duration of the two years that the students are enrolled in the Full-Time MBA program.

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