ISB Increases Scholarships by 55% for Incoming Class

ISB Increases Scholarships by 55% for Incoming Class
A total of Rs. 3.3 crores to be awarded as scholarships

The Indian School of Business (ISB) has announced a range of scholarships for a total amount of Rs. 3.3 crores. The scholarships will be available for all the students who will be selected for the new Class of 2009. The total scholarship amount represents a significant 55% increase over the scholarships offered to the previous class.

Making the announcement, Prof. M. Rammohan Rao, Dean, ISB, said, "We have always focused on enhancing our talent pool and on making world class management education accessible to all bright young Indians. No deserving student has ever been turned away from the ISB for want of financial support .This additional funding will allow us to reach out to an even wider talent pool."

The scholarships are both merit and need-based and will be given to outstanding students, selected on the basis of exceptional academic and professional performance, as well as personal qualities such as leadership, integrity, and community service. In an attempt to attract students from various professional, ethnic, and gender backgrounds, several scholarships will be awarded to students who come from small towns in India, women students, and international students.

The scholarships include funding from the ISB as well as from private companies who have come forward to support excellence in education. 60% of the scholarships will be awarded by the ISB while the remaining 40% will be awarded by private companies. Companies such as Citigroup, Novartis, Sierra Atlantic, Ambit Finance, and others, will award scholarships to the ISB students.

The ISB has made concerted efforts to attract more women students to management education and the number has steadily increased to 25% this year, making the ISB a leading Indian B-school with the largest percentage of women in its class. Last year, 33% of the scholarships were awarded to women students at the ISB. This trend is likely to continue in the forthcoming year as well.

The ISB has also entered into special agreements with leading banks such as HDFC Bank, State Bank of India, Andhra Bank, and Punjab National Bank, to provide soft loans to its students. About 95% of ISB students avail of the loan facilities. The ISB students are charged lowered interest rates and are eligible to avail collateral free loans.

The ISB will continue its efforts to make world class management education available to deserving students in India in keeping with its vision of grooming business leaders for Asia and the world. Students at the ISB come with an average work-experience of 5 years in a variety of industries and functions and an average age of 27 years. The average GMAT score for the present class is 707, which is comparable to the top 5 B-schools in the world. The ISB attracts a wide range of professionals such as doctors, lawyers, defence officers, officers from the public services, chartered accountants, journalists, entrepreneurs, architects, marine engineers, lecturers, flight assistants, engineers, and IT professionals.

Concluded.

Contributed by -
Ms. Bhuvana Ramalingam,
Director - Communications,
Indian School of Business, Hyderabad.

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