Earning a master’s degree overseas in the U.S. or Canada is an exciting opportunity that can open doors to career growth, cutting-edge research and an international network of peers. However, the cost of tuition and living expenses can be overwhelming for many Bangladeshi students. As you consider pursuing a degree abroad, an overseas master’s scholarship can help pay for your education without taking on more debt. Knowing how to apply for a scholarship to study abroad can increase your chances of securing funding and making your dream of studying overseas a reality.
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Types of overseas master's scholarship
There are several types of education scholarships available for Bangladeshi students pursuing a master’s degree in the U.S. and Canada. Each type of scholarship has different eligibility requirements and benefits.
Scholarships based on merit
These scholarships are awarded to students who have demonstrated outstanding academic performance, leadership skills or contributions to their field. Many universities offer these scholarships to attract top Bangladeshi students. For graduates from premier Bangladeshi institutions like University of Dhaka, Bangladesh University of Engineering and Technology (BUET) and other leading universities, these scholarships can significantly reduce tuition costs and sometimes even cover living expenses. Bangladeshi students with strong academic records often have excellent chances at securing merit-based scholarships.
Scholarships based on need
Designed for students who demonstrate financial need, these scholarships help make education more accessible. Many institutions assess needs based on family income, assets and other financial factors. For Bangladeshi students, the significant difference in currency values (BDT to USD/CAD) often makes them eligible for need-based support. Some scholarships cover full tuition, while others offer partial funding ranging from US$5,000 (BDT 550,275) to US$25,000 (BDT 2,751,375).
Scholarships for students in specific fields
Many scholarships are available for Bangladeshi students pursuing degrees in high-demand fields such as STEM, business and health care. These are often provided by universities, private companies or industry organisations looking to invest in the next generation of professionals. Bangladeshi students in STEM fields particularly benefit from scholarships like the MPOWER Global Citizen Scholarship, which provides up to US$8,000 (BDT 880,440) for selected students.
Diversity and regional scholarships
Some scholarships are created to support students from underrepresented backgrounds or specific regions. For example, U.S. scholarships for Bangladeshi students provide funding opportunities for Bangladeshi nationals studying in the U.S. Several international foundations specifically support Bangladeshi students pursuing higher education abroad. Many of these scholarships aim to promote cultural exchange and academic excellence.
University scholarships
Many universities offer their own scholarships for master’s degrees, including U.S. postgraduate scholarships for international students. These awards may be based on merit, financial need or a combination of both. Some institutions automatically consider applicants for scholarships during the admissions process, while others require separate applications.
Government-funded scholarships
Both Bangladeshi and host governments provide scholarships for a master’s abroad to promote higher education and international collaboration. Examples include Fulbright Bangladesh Fellowships, the Ministry of Education’s Higher Studies Scholarships and Canada’s Vanier Graduate Scholarships. The Bangladesh government also offers various scholarships for Bangladeshi students studying abroad.
How international scholarships fit into funding your studies
While an overseas master’s scholarship can reduce tuition and living costs, you may need to combine scholarships with other funding sources to cover all educational needs. Here are some additional ways Bangladeshi students can finance their education.
Tips for securing an international scholarship
Applying for an overseas master’s scholarship requires careful planning and preparation. Follow these tips to boost your chances of success:
MPOWER Financing: Scholarships and support for Bangladeshi students
MPOWER Financing is a leader in providing financial resources for international students, empowering students from around the world to achieve academic and career success. Along with a variety of overseas master’s scholarships, MPOWER offers no-cosigner student loans that can help to finance a degree in the U.S. or Canada. MPOWER’s loans range from US$2,000 (BDT 220,110) to US$100,000 (BDT 11,005,500) and feature an easy application process, fast approval decisions and interest-only payments while you’re pursuing your degree.
MPOWER also offers career support to help students find internships and jobs, and visa services that include a visa support letter, a visa preparation course, personalised mock interviews and live Q&A webinars. These services can be especially valuable for Bangladeshi students looking to gain work experience through optional practical training (OPT) in the U.S. or the post-graduation work permit program (PGWPP) in Canada. With MPOWER, Bangladeshi students can find the resources they need to make their dreams of studying abroad a reality.
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FAQs
No-cosigner loans are education loans that don’t require a guarantor. MPOWER Financing offers no-cosigner loans designed for Bangladeshi students who may not have access to traditional loan options. This can be particularly valuable for Bangladeshi students who may not have family or connections in North America who could serve as cosigners.
Yes! Applying for multiple overseas master’s scholarships increases your chances of securing funding. Many successful Bangladeshi students combine several smaller scholarships to fund their education. Keep track of different application requirements and deadlines with a spreadsheet or similar tool.
You can find scholarships for master’s degrees through university websites and online scholarship databases, including www.internationalscholarship.com, IEFA.com, eduPass.org. The EducationUSA Bangladesh maintains offices in major Bangladeshi cities like Dhaka and provides free advising services on scholarship opportunities for Bangladeshi students.
Each scholarship has specific eligibility requirements, such as academic merit, financial need, nationality or field of study. Be sure to review each scholarship’s criteria carefully. For Bangladeshi students, additional requirements may include specific standardised test scores like GRE, GMAT or TOEFL, as well as authenticated academic transcripts from Bangladeshi institutions.
Most scholarships require transcripts, a personal statement, recommendation letters and proof of financial need (for need-based scholarships). Bangladeshi students should prepare for additional documentation requirements such as degree equivalency certificates, financial affidavits and passport verification. For many scholarships targeting Bangladeshi students, you may also need to provide proof of Bangladeshi citizenship or permanent residency.
While some scholarships are fully funded, most only cover part of the costs. Students often combine scholarships with other funding sources such as personal savings, family contributions, loans, or part-time work. For Bangladeshi students, the significant currency conversion rate makes it especially important to secure multiple funding sources. A comprehensive financial plan might include scholarships, Bangladesh government subsidies for education loans and university assistantships.
DISCLAIMER – Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.
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