Scholarships & Financing

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. Currently, the maximum amount is 752 euros for students who do not live with their parents and have family insurance. If students have health insurance, they receive up to 861 euros (from the age of 30: 941 euros). For students who live with their parents and have family insurance, the maximum amount is 483 euros.

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-muenchen.de/finanzierung

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/.

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:

• www.mystipendium.de
• e-fellows.net

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

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)

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.

You might be eligible to redeem your GI Bill benefits at Munich Business School. For further information please contact our accounting team on accounting@munich-business-school.de

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 2,850 € per semester (10-50% on the first and second Bachelor semesters). 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:

• Good average grade 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.

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 2,850 €  per semester (10-50% on the first and second Bachelor semesters). 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.

The MBS BEST Scholarship is intended for top-performing, committed future students. The scholarships have a maximum amount of 2,850 € per semester (10-50% on the first and second Bachelor semesters). 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.

You are courageous and take new paths, e.g. by volunteering in an association, by committing yourself to social diversity, inclusion and belonging, by being the first child in your family to take the step to university or by starting your own business at a young age?

The MBS Explorer Scholarship is aimed at committed future students and all those who do not have the financial means to afford private studies. The scholarships amount up to EUR 4,000 of the overall tuition fee. (Up to EUR 2,000 on the 1st and 2nd master's semester).

The following requirements must be met in order to be considered for the scholarship:

• voluntary commitment (e.g. in politics, environment & sustainability, religion or in sports, e.g. as an active athlete or as a trainer in a club (proof desirable)) and/or
• founding of a company/engagement in a family business and/or
• justification of the economic situation as well as
• willingness to get involved at MBS (e.g. participation in student initiatives or as MBS Ambassador at trade fairs or events).

The application for this scholarship is made together with the study place application. Please attach a personal statement (one page with subject "MBS Explorer Scholarship") and convince us of your eligibility.

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

The MBS BEST Scholarship is aimed at particularly high-performing and committed future students of all master's programs. The scholarships amount up to EUR 4,000 of the overall tuition fee. (Up to EUR 2,000 on the 1st and 2nd master's semester).

The requirements for this scholarship are:

• very good grade average in the bachelor's degree certificate as well as
• willingness to get involved at MBS (e.g. participation in student initiatives, MBS Ambassador at fairs or events)

The application for this scholarship is made together with the study place application. Please attach a personal statement (one page with subject "MBS BEST Scholarship") and convince us of your eligibility.

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

Are you globally minded with a cultural awareness to act consciously in an international environment?

Please explain what globally minded means to you personally and to what extend it is shaping your professional life.

In order to apply for one of our MBA scholarships, please answer the question in a personal statement. Please upload the document within your initial online application (Full-time) for a study place. A subsequent application is not possible.

Due to the limited number of scholarships an early application is recommended. Applicants who convince us of their suitability will be granted up to EUR 4,000 on the overall tuition fee.

Do you act responsibly by incorporating ethical and sustainable considerations into your decisions?

Please describe which activities from your personal and professional life are related to responsibility or responsible actions.

In order to apply for one of our MBA scholarships, please answer the question in a personal statement. Please upload the document within your initial online application (Full-time) for a study place. A subsequent application is not possible.

Due to the limited number of scholarships an early application is recommended. Applicants who convince us of their suitability will be granted up to EUR 4,000 on the overall tuition fee.

Do you have an entrepreneurial mindset and the ability to create innovative and creative solutions?

Please describe in what way entrepreneurship and innovation plays a role in your professional life and tell us more about your personal entrepreneurial skills.

In order to apply for one of our MBA scholarships, answer the question in a personal statement. Please upload the document within your initial online application (Full-time) for a study place. A subsequent application is not possible.

Due to the limited number of scholarships an early application is recommended. Applicants who convince us of their suitability will be granted up to EUR 4,000 on the overall tuition fee.