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Other sources of funding

Funding for studying in Germany

ESMT recommends that MBA candidates investigate funding opportunities in their home country before starting their studies in Germany. Many candidates will need funding in addition to ESMT’s scholarships.


Often a student’s home country has opportunities for loans and scholarships to complete an accredited program abroad. A non-exhaustive list of funding sources can be found below. Further scholarship and loan availability may be found by contacting your country's education ministry or your country's embassy in Berlin.


The following are financing options that past ESMT MBA students used. We are continuously expanding the list and always welcome suggestions.

  • All countries

    The German Academic Exchange Service (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. Using the Scholarship Database search filter you will find a list of applicable scholarships for you.


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

  • Colombia

    COLFUTURO is a private financial aid foundation (scholarships and loans) for Colombians pursuing a postgraduate degree abroad. With funding from both the Colombian government as well as leading Colombian companies, they have successfully helped over 9,000 Colombian students fulfill their education goals. COLFUTURO collaborates with the DAAD offering financial aid to students enrolled in a German university. Further information is available in this document.

  • Germany

    German applicants 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.


  • India

    • Credila is a loan program for Indian citizens pursuing graduate studies abroad. Students apply for a minimum of 100,000 INR on their own without collateral or up to the maximum cost of attendance (as defined by ESMT) with a consignor that is an Indian citizen with an Indian bank account.
    • Bank of India’s educational loans have been a financing source for former ESMT students.
  • Mexico

    Banco de Mexico – FIDERH: 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.



    ESMT Berlin offers a 20% tuition reduction for candidates of the Full-time MBA program who are supported by Fundación Mexicana para la Educación, la Tecnología y la Ciencia (FUNED).


    The minimum requirements are:

    • Mexican nationality
    • A minimum GPA of 8.0 (out of 10) in the first degree AND a first Mexican "Título" degree
    • An official Certificate of Admission by ESMT Berlin
    • An application to FUNED no later than 90 days before leaving to study the MBA


    Contact FUNED directly to apply for this scholarship.

  • Peru

    Banco de Credito de Peru offers educational loans to Peruvian students of up US$30,000.

  • Russia

    AVESA: Russian citizens accepted to ESMT are eligible to apply for Russian government-backed loans.


    Rosinterbank provides a loan scheme for MBA studies to Russians at competitive interest rates. ESMT’s admissions team will be glad to provide accepted students with a contact person at the bank.

  • Spain

    Various financial institutions will consider loans for students studying in the EU. The following is a list of banks which offer educational loan programs.


  • Taiwan

    The Taiwanese government currently offers loans for studying abroad. The Taiwanese Ministry of Education administers the program with the Central Bank of Taiwan and seven other Taiwanese banks.

  • United States

    ESMT participates in the US Department of Education federal financial aid program. 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:


    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. Find more information about US federal student loans here.


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