If you are thinking of studying MBA abroad, then China is the best place to go. Being one of the fastest developing countries in the world and having a good number of world-class MBA programs, this may be one of the best decisions you could ever make.
But how much does it cost to study MBA in China and is there a way to fund it? Learn all about it here!
How Much Does it Cost to Study MBA in China?
Studying in China is generally cheaper than studying in most Western universities. This is because of the abundance of universities, wealth of scholarships and low cost of living.
Although the tuition fee of MBA programs vary from one university to another, the tuition is very affordable. Below are some examples of the tuition cost of some universities in China:
- Peking University, Guanghua School of Management – $56,272 USD in total
- Tsinghua-MIT Global MBA – $30,276 USD in total
- Shanghai Jiao Tong University – $31,806 USD in total, if you are unable to pay it all at once, you can pay it in two installments
- Cheung Kong Graduate School of Business – $68,505 USD in total, the MBA program takes 14 months to complete
- Fudan University – $48,901 USD in total
- China Europe International Business School – $66,976 USD in total, the MBA program runs for 18 months
How To Get A Scholarship To Fund Your MBA In China
Although tuition fees for MBA are cheaper in China, it can be a bit costly to cater for all expenses especially when one is starting out in a new country. But there a wide range of MBA scholarships that international students can apply to.
A. Enterprise Scholarship
Enterprise scholarships aim to promote cross-cultural exchanges and friendly communication between China and other counties. This is usually offered by Chinese universities.
B. University Scholarships
Scholarships offered by business schools and universities. Here are popular examples of scholarships offered by MBA schools in China:
CEIBS’ Women Leadership Scholarship covers 222,000 RMB ($33,000 USD) of tuition fees. Offered to all female students so no need for separate application. This is awarded based on your academic performance.
CEIBS also offers merit-based scholarships to first year students. It is awarded based on academic and professional achievements, personal achievements, interview performance and contributions to the MBA program. All candidates admitted to CEIBS are automatically considered. Here are some of the merit-based scholarships at CEIBS:
- Company-sponsored Scholarships – some of the companies sponsoring students in partnership with CEIBS include Greenwoods Asset Management, DongDu International and Omnicom Group
- MBA Fellowship
- Entrepreneurship Scholarship
- Women Fellowship
- Middle East and Central Asia Talent Scholarship
- Diversity Fellowship
- Business Leadership Scholarship
- Excellence Scholarship
- Young Talent Scholarship
- Business Fellowship
Tsinghua University’s Female Leader Scholarship awards 55000-99000 RMB ($8,172-14,710 USD) to the applicant. All female applicants are considered for this scholarship. Tsinghua University’s MBA program has more scholarships that you can check here.
C. Chinese Government Scholarships
Each year the Chinese government awards thousands of Chinese Government Scholarships (CSC) to deserving international students. The CSC scholarship usually covers all your expenses from your tuition fees to accommodation. Read more about the CSC scholarship here.
D. GMAT Scholarship
In some universities, applicants for the International GMAT who score 730 or higher are awarded a scholarship of 50% of the full program fee. Scores of 680 or higher are awarded a scholarship of 25% and 630 or higher are awarded a scholarship of 20,000 RMB ($2,791 USD). An example of a university that offers this scholarship is Antai College Of Economics and Management at Shanghai Jiao Tong University
E. Other Available Scholarships For MBA Programs
- AMBA 50th Anniversary Scholarship
- ACYA-RBS International MBA Scholarship
- Forté Fellows Program Scholarship
- University Scholarships
How To Apply For Chinese Scholarships
To get a scholarship in a university, you will have to apply directly to the university. However, if you want to apply for the Chinese Government Scholarship, you need to send the application to the Chinese embassy. You can do so online.
Once you give all the details and documents required, the application will be reviewed and you will get a confirmation if you meet all the qualifications. Read more about the process here.
Apart from scholarships, you can finance your MBA studies by applying for a loan. Prodigy Finance is one place you can get a loan. In fact, you can get 1/3 of your tuition cost at CEIBS. You will start paying back the loan after you graduate and start earning.
Study MBA In China Now!
Start applying for your MBA program in China here.