Deciding to invest in education can be an expensive decision for some people and is not to be taken lightly. Being awarded a scholarship to contribute to some or all of the costs can make a real difference between the dream remaining just that and it actually becoming reality.
At Imperial College Business School we recognise the financial burden that studying places on the individual student in addition to their family, and for some, it is simply not an option to study without a scholarship. All of our MSc programmes have partial tuition fee scholarships available and some programmes also have additional awards such as those on MSc Finance for Brilliant Minds and Future Leaders or the Forté Fellowships on the Full-Time MBA. All offer holders will be considered for the Business School specific scholarships providing they apply by our scholarship deadline and meet any eligibility requirements.
Prospective students can use the Imperial College London scholarships search tool to find funding opportunities administered by the university and there are also a host of external scholarship providers. Remember that this is not an exhaustive list and Imperial College Business School students receive scholarships from a range of funding bodies located around the world so it would also be sensible to do some research in your own country for options that may be available to you. Some of the scholarships administered by Imperial College London do still require a separate application and have deadlines in late October and early November 2016 for entry in September 2017. This means that you need to start preparing your application now if you need or want to apply for a scholarship that covers all or the majority of your expenses.
Commonwealth and Chevening Scholarships
The Commonwealth Scholarships and Chevening Scholarships are highly competitive awards for both Masters and PhD students. Chevening’s aim is to develop the global leaders of tomorrow and recipients are personally selected by the British Embassies and High Commissions throughout the world. This is why recipients are required to return to their home countries after studying in the UK to utilise the skills that they have learnt. Similarly, the Commonwealth Scholarships are for Commonwealth citizens (outside of the UK, Isle of Man and Channel Islands) with strong academic backgrounds who have the potential to contribute to the needs of their home countries. Both of these awards are funded by UK Government departments and their partners, which includes universities. For 2017 entry, the Commonwealth Scholarships have a deadline of 15 November 2016 whilst the Chevening Scholarships deadline is slightly earlier on the 8 November 2016.
At Imperial College Business School we have seven students who are Chevening or Commonwealth scholars for the 2016/17 year. Zhimin Chen is currently studying MSc Risk Management and Financial Engineering as a Chevening scholar. Before joining Imperial he studied for his Bachelor and Master qualification in his home country, China. He said that in addition to providing “generous funding to cover my tuition fees and living costs” he had benefited from being part of “an international elite community” at both the Business School and also within the Chevening community. He benefits greatly from Imperial’s location in London as he is able to attend events hosted by prestigious organisations such as Chatham House where he has networked with other scholars who may become co-authors for papers in the future.
What to do if you are applying for a scholarship
If you are applying for scholarships then you need to adhere to any deadlines set by the awarding body for things like providing confirmation that you have an offer for the programme. Some of the programmes in the Business School use admissions rounds and release the majority of admissions decisions on a set date. If you haven’t already done so, check if there are admissions rounds for the Business School programme you plan to apply for and ensure that you submit your application in time to get a decision by your funding body’s deadlines. Usually, you will want to submit your application in the first round.
If you receive an offer for the programme then let the admissions team know that you have applied for a scholarship. It would be useful for us to know the name of the scholarship that you have applied for and the exact date that you are expecting to receive a decision. We may be able to extend your deposit deadline until you have heard from the awarding body and if you are successful in being awarded a scholarship you may not have to make a deposit payment at all. However, this is decided on a case by case basis as it depends on the exact nature of the scholarship. If you think you will have difficulties making your deposit payment as you are waiting for a scholarship decision then it is important to discuss your situation with the admissions team as soon as you receive an offer.
In order to confirm that the organisation will be paying your tuition fees on your behalf you need to provide us with an acceptable proof of award. There are very specific requirements for this letter and full details, including the postal address, are included on our website.