Other financing options

Other financing sources

ESMT's Master's in Management program represents an excellent value for money. Students are encouraged to research a variety of ways to fund their education goals. Many programs exist in Germany or in the student's home country to fund educational endeavors.

MIM candidates may also find the list on the MBA funding page helpful, as many of the sources are also viable for master's students.

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All countries

All countries

The German Academic Exchange Service (DAAD) remains the most famous and popular resource for foreign students looking to study in Germany.

The DAAD offers a wide range of support instruments for participants from all over the world to study in Germany. They offer a very extensive database of available financial aid for both foreign and German students. You will find a list of applicable scholarships for yourself by using the Scholarship Database search filter.

Award amounts and eligibility vary by country. Please visit or contact your national DAAD office for more information.

German citizens and residents

German citizens and residents

German applicants and some foreign residents in Germany applying to ESMT may qualify for student loans from German banks. Many of these loans offer special interest rates and payment terms, depending on your application and qualifications. We encourage you to check with your local bank branch for more information.

Bildungsfonds - ESMT applicants are eligible to apply.

Bundesausbildungsförderungsgesetz (BAFöG) - Is the Federal Training Assistance Act for students in Germany. The act offers federally supported scholarships and loans to German citizens and some non-Germans under specific conditions.

Deutsche Bildung - ESMT applicants are eligible to apply.

KfW-Studienkredit - Available for students who are not eligible for government education grants.

Mexico

Mexico

Banco de México

The Fund for Development of Human Resources (FIDERH) is a federal trust managed by the Central Bank of Mexico which has been helping to finance graduate studies for over 40 years. ESMT is an official partner, and they offer very reasonable loans for Mexican students pursuing studies abroad. The requirements are simple: if you have been accepted into our program, you are eligible.

CONACYT Scholarships

The Consejo Nacional de Ciencia y Tecnología offers scholarships for studying abroad. Preference is given to students pursuing a doctorate, but master-level applications are also accepted.

The minimum requirements are:
•    Notification of admission from ESMT
•    Completed application for a scholarship
•    Previous academic degree
•    Minimum average grade of 8 (out of 10) in previous studies
•    Official documentation proving Mexican nationality and CURP
•    TOEFL (>550 PBT, >213 CBT, >90 IBT) or IELTS (>6.0)

It is important to note that this is an organization that offers several scholarships for studies abroad, each with different requirements and different deadlines. Applicants should take a close look at the available scholarships to see which one would fit them best.

United States (Federal Financial Aid Program)

United States (Federal Financial Aid Program)

ESMT participates in the US Department of Education direct loan scheme. You are eligible for a direct loan if you are a US citizen or a permanent resident (green card holder) of the US and a student at ESMT. The school borrower code is G41765 when filling out the FAFSA application.

Interested students should inform ESMT's MBA Program Coordinator that they plan to apply for federal loans via the following address: mba-office@esmt.org.

To ensure the funding is available when the program starts, the application deadline for students applying for US financial aid is October 1 of each year.

For more information regarding US federal student loans please visit: http://www.studentaid.ed.gov/

Private loans are available for American students at the students' preferred banking institution.

Crowdfunding

Crowdfunding

Are you looking for an additional way of financing your living costs? Crowdfunding is an innovative way to raise some extra cash. Here is one of our suggestions: StudentBackr.