Scholarships and Financing - Studium München

Scholarships
and Financing

Scholarships & Financing

As a state accredited university in private sponsorship, Munich Business School charges tuition which exceeds that of public universities. The practice-oriented program aligned with the needs of the industry, the short length of studies, and the associated early and qualified entry into work life also make the investment in your own qualification worthwhile from a financial perspective. The following points should provide you with information about the financial assistance options available. Whether supported by the government, foundations, or MBS directly. There are also numerous student loans, and we will briefly introduce you to the best-known.

Financing
Possibilities

Domestic and International State Grants

Students of Munich Business School as a basic principle are entitled to financial support according to the Federal Education and Trainings Assistance Act (BAföG).

Whether state grants are issued in individual cases depends on the income and asset of the applicant and his/her parents. A support independent of parental income requires the applicant to either have been employed for 5 years after age 18, or to have been employed for 3 years after a 3-year vocational training (or for shorter training periods an suitably longer period of employment).

BAföG services are provided as one half being a grant not requiring payment, and the other as an interest-free loan, with part of the loan repayment also potentially being waived depending on the study term and outcome. BAföG support is currently available for up to 735 EUR per month and on principle is limited to the phase of the standard period of study for the respective academic program.

The BAföG authority responsible for MBS applicants is:

Studentenwerk München Anstalt des öffentlichen Rechts Amt für Ausbildungsförderung
Leopoldstr. 15
80802 Munich
Germany
Phone +49 (0)89 38196-0
Fax +49 (0)89 38196-111
E-Mail: muenchen@bafoeg-bayern.de
www.studentenwerk.mhn.de

 

Financing Semesters Abroad

Even for students not receiving BAföG it may be worth inquiring about the conditions of the international BAföG. Due to the increased financial expenses of studying abroad, the limits of the imputed income may change compared to the domestic BAföG calculation. The respective application should be submitted to the responsible grant authority no less than 6 months prior to leaving the country.

Details about the conditions can be found at http://www.das-neue-bafoeg.de/.

Foundations and Scholarships

Scholarships oftentimes present the most beneficial option for financing studies, as they generally do not require repayment. However, the number of scholarships is limited and they therefore generally require successfully passing an application process.

The criteria in the awarding of scholarships vary. In many cases they are used to promote the gifted, but there are also other purposes, making applying worth while for many students.

The addresses listed below are merely a selection of the best-known foundations in Germany.

Further information is available at www.stiftungsindex.de.

Find an overview of the various types of scholarships for students and graduates offered by selected organisations here:

For international students who want to study in Germany: DAAD ("Deutscher Akademischer Austauschdienst")

Loans and Education Funds

In addition to scholarships, various loan programs are available. Providers include public and private banks. The Kreditanstalt für Wiederaufbau (KfW) plays a special role, as in addition to its own products – the KfW-Studienkredit [student loan] and the KfW-Bildungskredit [education loan] – it is also a lender for the BAföG bank loan.

KfW-Studienkredit
The KfW-Studienkredit is a limited term, low interest loan for initial degrees that requires no securities and is granted regardless of the student's or his/her parents' income. The monthly disbursement is between 100 and 650 Euros. The interest is adjustable and is adjusted to the capital market development semi-annually. At signing, however, the borrower is issued a guaranteed interest cap for a period of 15 years. Interest is typically deferred. The grace period is 18 to 23 months following the last date of disbursement. The subsequent repayment term may be extended to a maximum of 25 years. Unscheduled repayments may be made at any time and without penalty. Further information is available here: KfW-Studienkredit

KfW-Bildungskredit
The KfW-Bildungskredit is another low-interest loan product specifically for students in advanced study phases. This loan is granted regardless of assets and income of the applicant and his/her parents. Even the receipt of BAföG benefits does not influence eligibility for the KfW-Bildungskredit. Its term is limited to 24 months during which a maximum of 300 Euros per month is disbursed. Detailed information is available here: KfW-Bildungskredit.


BAföG-Bankdarlehen [bank loan]
This loan product is aimed toward students whose study term is extended following a change in majors or dropping out. Even second degrees can be financed in part with this option. The low interest BAföG bank loan does not require securities. The loan amount is determined by the respective Amt für Ausbildungsförderung [grant authority]. Since the loan is handled by the Kreditanstalt für Wiederaufbau, detailed information about this loan is also available here: KfW-Bankdarlehen.

Comparison of student loans & education funds (German)

 

Financing Possibilities and Support for Part-Time Courses of Study

Munich Business School offers MBA General Management as part-time study program. Students continue to draw on an income during the period of their studies. However, it is often not possible to cover all costs incurred.

The portal “studieren-berufsbegleitend.de” offers comprehensive information about various models of student financing and explains how a course of studies becomes tax-deductible. In addition, the charitable organization SBB, “Stiftung Begabtenförderung berufliche Bildung – Gemeinnützige Gesellschaft mbH” offers on behalf of and with funds of the Federal Ministry for Education and Research two scholarship programs, one for persons entering a profession (training scholarship) and one for those who are experienced (upgrade scholarship). The SBB is also the first place to contact for all those who rely on competent information and advice regarding all aspects of the funding of occupationally talented people.

Scholarships

The declared goal of Munich Business School is to facilitate high-performance prospects access to studies regardless of their economical situation. In addition to various financing options, Munich Business School offers partial scholarships to committed prospective students. In order to apply for one of these limited scholarships, you will probably have to attach a personal statement and additional proofs to your application.

 

Bachelor-Programs

MBS Bavarian Scholarship

The MBS Bavarian Scholarship supports talented and committed future students who are enrolled in the program Bachelor Bilingual Track. The scholarships have a maximum amount of 2,600 € per semester (10-50% on the first and second Bachelor semesters).  Students with special commitment can continue to receive support after the second semester. The scholarship is also aimed at Pre-Bachelor students.

To apply for one of these scholarships, enclose a personal statement (one page with title “MBS Bavarian Scholarship”) together with your application for the Bachelor program and convince us you are eligible. Applications for this scholarship are considered only if the following requirements are met:

  • Average grade of “good” in school diploma
  • Willingness to commit to MBS (e.g. student initiative, MBS ambassador at trade fairs and events)

Please note: Early application is recommended as the number of scholarships is limited.

MBS Explorer Scholarship

The MBS Explorer Scholarships are intended for future students who do not have the financial resources required for a private education. The scholarships contribute up to 2,600 €  per semester (10-50% on the first and second Bachelor semesters). Students with special commitment can continue to receive support after the second semester. The scholarship is also aimed at Pre-Bachelor students.

To apply for one of these scholarships, enclose a personal statement (one page with title “MBS Explorer Scholarship”) together with your application for the Bachelor program at MBS and convince us you are eligible. Applications for this scholarship are considered only if the following requirements are met:

  • Justification and proof of economic circumstances
  • Willingness to commit to MBS (e.g. student initiative, MBS ambassador at trade fairs and events)

Please note: Early application is recommended as the number of scholarships is limited.

MBS BEST Scholarship

The MBS BEST scholarship is intended for top-performing, committed future students. The scholarships have a maximum amount of 2,600 € per semester (10-50% on the first and second Bachelor semesters). Students with special commitment can continue to receive support after the second semester. The scholarship is also aimed at Pre-Bachelor students.

To apply for one of these scholarships, enclose a personal statement (one page with title “MBS BEST Scholarship”) together with your application for the Bachelor program at MBS and convince us you are eligible. Applications for this scholarship are considered only if the following requirements are met:

  • Average grade of “very good” in school diploma
  • Willingness to commit to MBS (e.g. student initiative, MBS ambassador at trade fairs and events)
  • Voluntary commitments (proof is desirable)

Please note: Early application is recommended as the number of scholarships is limited.

Master-Programs

MBS Bavarian Scholarship

The MBS Bavarian Scholarship supports talented and committed future students who are enrolled in the Master International Business Bilingual Track. The scholarships have a maximum amount of 4,000 € per semester (10-50% on the first and second Master semesters). The scholarship is also aimed at Pre-Master students.

To apply for one of these scholarships, enclose a personal statement (one page with title “MBS Bavarian Scholarship”) together with your application for the Master International Business Bilingual Track program at MBS. Applications for this scholarship are considered only if the following requirements are met:

  • Average grade of “good” in bachelor diploma
  • Willingness to commit to MBS (e.g. student initiative, MBS ambassador at trade fairs and events)

Please note: Early application is recommended as the number of scholarships is limited.

MBS Explorer Scholarship

The MBS Explorer Scholarships are intended for future students who do not have the financial resources required for a private education. The scholarships have a maximum amount of 4,000 € per semester (10-50% on the first and second master semesters). The scholarship is also aimed at Pre-Master students.

To apply for one of these scholarships, enclose a personal statement (one page with title “MBS Explorer Scholarship”) together with your application for the Master program at MBS and convince us you are eligible. Applications for this scholarship are considered only if the following requirements are met:

  • Justification and proof of economic circumstances
  • Willingness to commit to MBS (e.g. student initiative, MBS ambassador at trade fairs and events)

Please note: Early application is recommended as the number of scholarships is limited.

MBS BEST Scholarship

he MBS BEST Scholarship is aimed at particularly high-performing and committed future students. The scholarships have a maximum amount of 4,000 € per semester (10-50% for the 1st and 2nd Master semester). The scholarship is also aimed at Pre-Master students.

When applying for one of the scholarships, submit a personal statement (1 page with the keyword "MBS BEST Scholarship") and convince us of your suitability. The prerequisites for this scholarship are: 

  • Very good grade average for Bachelor's degrees
  • Willingness to commit to MBS (e.g. student initiative, MBS ambassador at trade fairs and events)
  • Voluntary commitments (proof is desirable)

Please note: Early application is recommended as the number of scholarships is limited.

MBS Sport Stipendium

The MBS Sports Scholarship supports top-performing, committed students with completing the Master Sports Business and Communication. The scholarship grants a reduction of tuition of 10-50% on the first and second master semesters for a maximum of 4,000 € instead of 8,000 € per semester. The scholarship is also aimed at Pre-Master students.

To apply for one of these scholarships, enclose a personal statement (one page with title “MBS Sports Scholarship”) together with your application for the Master Sports Business and Communication at MBS and convince us you are eligible. The prerequisites for this scholarship are:

  • Average grade of “good” in bachelor diploma
  • Willingness to commit to MBS (e.g. student initiative, MBS ambassador at trade fairs and events)
  • Voluntary commitments (e.g. as a coach in a sports club)

Please note: Early application is recommended as the number of scholarships is limited.

MBA Programs

MBA Scholarship

The MBA Scholarship supports future MBA students with special professional achievements. Munich Business School offers them a limited number of partial scholarships between 5 and 25 % of the program fee.

When applying for this scholarship, please submit a personal statement (1 page with the keyword "MBA Scholarship") and convince us of your suitability. The prerequisites for this scholarship are:

  • Justification and proof of special achievements during professional life
  • Willingness to get involved at MBS (e.g. Student Initiative, MBS Ambassador at trade fairs or events)

Please note: Early application is recommended as the number of scholarships is limited.