Fully Funded Finance Scholarships in Europe

Finance degrees in Europe open doors to high‑impact careers—in banking, quant roles, fintech, risk, and policy. But tuition and living costs can be steep, especially in top hubs like London, Paris, Zurich, and Amsterdam. The good news: fully funded finance scholarships in Europe do exist. The challenge is knowing which awards cover tuition and living costs, which are open to finance, and how to apply on time.

This guide solves the search. We map the most reliable fully funded finance scholarships in Europe for 2025 across Master’s and PhD routes, including government awards (Erasmus Mundus, DAAD, Chevening, Eiffel, Swedish Institute), university fellowships, and funded PhD positions. You’ll also get timelines, documents checklists, and application strategies tailored to finance (quant readiness, internships, and certifications).

What you’ll get:

• A curated list of fully funded finance scholarships in Europe by level and country
• Tables with benefits, eligibility, and typical deadlines
• A month‑by‑month application plan and essay tips that work for finance profiles
• High‑ROI tactics to stack awards and graduate debt‑free

Note: Always verify coverage and eligibility on official pages—details change year to year.

What “Fully Funded” Means for Finance Degrees

For this guide, a fully funded finance scholarship typically covers:

• 100% tuition (or a full tuition waiver)
• A monthly stipend for living costs (or an equivalent allowance)
• Often: health insurance, visa fees, and travel support

Reality check:

• Fully funded packages are most common at the PhD level in Finance/Economics (fully salaried PhD positions are standard across much of Europe).
• For taught Master’s in Finance (MSc/MA/MFE), fully funded awards exist via government schemes (Erasmus Mundus, Chevening, Swedish Institute, Eiffel) and a few university/region programs (e.g., Italian DSU regional grants), but they are competitive. Many elite schools offer “full tuition” awards (no stipend). You can stack a stipend from a government scholarship or regional grant to become effectively fully funded.

Focus keyword use: If your goal is fully funded finance scholarships in Europe, prioritize EU‑backed programs (Erasmus Mundus), national awards (DAAD, Chevening, Swedish Institute, Eiffel), and funded PhD positions.

Fully Funded Finance Scholarships in Europe

2025 Shortlist: Fully Funded Finance Scholarships in Europe (At a Glance)

These programs consistently fund international students. Next, we dive deeper by degree level.

Fully Funded Finance Scholarships in Europe: Master’s Route

1) Erasmus Mundus Joint Masters (EMJM)

• What it funds: Joint master’s taught by a consortium across 2–3 countries. Popular finance‑adjacent options include quantitative economics, econometrics, quantitative finance/financial engineering, and data science for finance.
• Coverage: Full tuition, monthly stipend (~€1,000–€1,400), travel/settling‑in, insurance.
• Finance fit: Look for consortia with finance/quant tracks (e.g., QEM – Models & Methods of Quantitative Economics; economics/finance programs with strong quantitative syllabi).
• Tips:
  • Align your profile with the consortium’s specialization (e.g., econometrics, risk, quantitative finance).
  • Show quant readiness: linear algebra, probability, econometrics, coding (Python/R/Matlab).
  • Apply early; each consortium has its own essays and references.

CTA:

• Browse Erasmus Mundus programs with finance/quant tracks and check 2025 deadlines

2) Chevening Scholarships (UK)

• What it funds: One‑year taught Master’s, including MSc Finance and MSc Financial Economics at many UK universities (subject to tuition cap).
• Coverage: Tuition (up to program cap), monthly stipend, visa fees, UK IHS, travel.
• Eligibility: Leadership potential, at least two years’ work experience, home‑country residency criteria; open to many nationalities.
• Strategy:
  • Make a policy/sector impact case: how your finance skills will drive growth, inclusion, sustainability, or fintech in your home market.
  • Secure unconditional offers from target UK programs early.

3) Commonwealth Scholarships (UK)

• What it funds: Master’s for eligible Commonwealth citizens; STEM, policy, and development‑relevant programs prioritized.
• Coverage: Tuition, stipend, flights, allowances.
• Finance fit: Choose finance programs tied to development priorities (e.g., financial inclusion, risk management for infrastructure, public financial management).

4) Swedish Institute Scholarships for Global Professionals (SISGP)

• What it funds: Full tuition and stipend for selected master’s at Swedish public universities.
• Finance fit: Economics/finance programs at universities such as Stockholm University, Uppsala, Lund, Gothenburg (check eligible program list each year).
• Tip: Emphasize leadership and sustainability; Sweden expects societal impact.

5) Eiffel Excellence Scholarship (France)

• What it funds: Monthly stipend, travel, and insurance; tuition is typically waived by public universities and many Grandes Écoles for Eiffel awardees.
• Finance fit: MSc in Finance or Financial Economics at top French institutions (e.g., Paris‑Saclay/Paris Dauphine/PSL, Toulouse School of Economics; some business schools partner).
• Strategy: Apply via your target French institution; they nominate you for Eiffel.

6) DAAD Study Scholarships (All Fields) – Germany

• What it funds: Master’s in any field (including Finance) at German universities; offers monthly stipend, insurance, travel, and tuition support (if applicable).
• Finance fit: Public universities often have low/no tuition; DAAD stipend covers living, making this effectively fully funded.
• Tip: Propose a clear study plan and supervisor/course fit; highlight quant and applied projects.

7) Stipendium Hungaricum (Hungary)

• What it funds: Tuition, monthly stipend, accommodation contribution, insurance.
• Finance fit: MSc in Finance and Banking at several Hungarian universities (e.g., Corvinus University of Budapest).
• Tip: Confirm instruction language (English), faculty research strengths, and career services.

8) Türkiye Bursları (Türkiye Scholarships)

• What it funds: Tuition, monthly stipend, accommodation, flights, health insurance.
• Finance fit: MBA/Finance, Banking & Finance MScs in leading Turkish universities.
• Tip: Position your goals in regional development—capital markets, fintech, Islamic finance.

9) Italy DSU Regional Scholarships (Lazio/Emilia‑Romagna/Lombardy etc.)

• What it funds: Need‑based grants for students at public universities (and Bocconi via ISU Bocconi), often including tuition waiver plus stipend/housing and meals—effectively fully funded for low‑income students.
• Finance fit: MSc Finance at Bocconi (ISU), Bologna, Sapienza, Politecnico di Milano (MSc Management Engineering finance tracks).
• Tip: Apply early; DSU requires financial documents and family income certifications.

Honorable mentions (tuition‑heavy scholarships that can be stacked):

• Bocconi Graduate Merit Awards (Italy): Tuition waivers up to 100%; add DSU for living costs to get fully funded.
• SSE (Stockholm School of Economics) MSc Scholarships: Tuition waivers; pair with SISGP (if eligible) for living stipend.
• Aalto University & Finland scholarships: 100% tuition waivers + €5,000 relocation grant (first year) for non‑EU/EEA; low cost of living cities help budgets; Aalto has a top M.Sc. in Finance.

Fully Funded Finance Scholarships in Europe: PhD Route (Best Odds)

PhD funding in Europe is robust—most Finance PhDs are salaried research jobs or fully funded studentships.

Top options:

• London School of Economics (LSE) PhD in Finance: Full funding (fees + stipend) for admitted students; competitive.
• University of Oxford DPhil in Finance (Saïd/Department of Economics): Scholarships + ESRC studentships; often full funding for top candidates.
• HEC Paris PhD in Finance: Full tuition waiver + stipend; strong placements.
• INSEAD PhD in Finance: Tuition waiver + stipend; research‑intensive.
• Bocconi PhD in Economics and Finance: Fully funded with stipend; Milan finance hub.
• Swiss Finance Institute (SFI) PhD: Fully funded via partner universities (Zurich, Lausanne, Geneva).
• Stockholm School of Economics (SSE) PhD in Finance: Fully funded; top Nordic placements.
• Rotterdam/Tilburg/Amsterdam (Netherlands): Funded PhD researcher positions (salaried) in finance/econometrics.
• Goethe‑Frankfurt GSEFM (Germany): Funded doctoral track; RA/TA contracts (TV‑L E13).
• EDHEC‑Risk Institute doctoral tracks: Note EDHEC PhD in Finance is typically executive and fee‑based (not funded)—focus on public uni programs for funding.

Other pan‑EU routes:

• MSCA Doctoral Networks (Marie Skłodowska‑Curie): Fully funded PhD positions with a salary and mobility allowance on finance‑related topics (risk, econometrics, fintech).
• National Research Council/ESRC/DFG studentships: Country‑specific doctoral funding streams.

PhD fit signals:

• Strong math/statistics/econometrics
• Coding (Python/R/Matlab), empirical finance projects, and research assistant experience
• Publications or high‑quality working papers are a plus

CTA:

• Search funded PhD positions in Finance across Europe and set alerts for MSCA calls

Country Highlights: Where Finance Funding Is Strongest

• United Kingdom: Chevening/Commonwealth (Master’s), Gates/Clarendon (select programs), ESRC/departmental studentships (PhD). Top finance departments: LSE, Oxford, Cambridge, LBS (MFA scholarships mostly partial), Imperial, Warwick.
• Germany: DAAD Study Scholarships for Master’s, low/no tuition at public universities, funded PhD/RA roles. Frankfurt/Mainz/Mannheim/Munich/Cologne strong in finance.
• France: Eiffel (Master’s stipend + institutional tuition waivers), public tuition is low; TSE/PSL/Paris‑Saclay strong in financial economics; HEC/ESSEC/EDHEC merit awards (often tuition only).
• Sweden: SISGP (Master’s) + university waivers; SSE PhD fully funded; Lund/Uppsala/Gothenburg/KTH have econ/finance tracks.
• Switzerland: ETH/UZH (Quant Finance), SFI network for PhD funding; ETH Excellence Scholarships (Master’s) can be fully funded; Swiss Excellence for research visits (not routine Master’s).
• Netherlands: Funded PhD researcher roles; strong econometrics/finance (Tilburg, Erasmus, UvA, VU).
• Italy: DSU regional grants (need‑based) + school waivers (Bocconi merit); Polimi/Bologna/Sapienza viable for finance tracks.
• Hungary/Türkiye: National scholarship programs (Stipendium Hungaricum; Türkiye Bursları) offering full packages.
• Finland: Aalto tuition waivers; Finland Scholarship €5,000 grant; University of Vaasa/Hanken in finance/economics (check waivers).

How to Win a Finance Scholarship: What Committees Look For

Finance‑specific edge:

• Quant readiness: courses (calculus, linear algebra, probability, statistics), high grades
• Tools: Python/R/SQL/Matlab/Stata, Excel/VBA; CFA Level I (optional but strong signal), FRM/PRM for risk
• Impact: internships in banking/fintech, research assistantships, trading competitions, Kaggle/quant projects, case competitions
• Clarity: career plan with specific finance roles (e.g., risk analyst → quant → portfolio manager; or corporate finance → CFO track)

Documents checklist (Master’s & PhD):

• Academic transcripts and degree certificates (translated if needed)
• CV (2–3 pages; metrics‑first; GitHub/SSRN/Google Scholar links if relevant)
• Statement of purpose/motivation letter (tailored to finance program; show quant + impact)
• Two to three recommendations (faculty + employer; specific examples)
• Test scores (IELTS/TOEFL; GRE/GMAT if required/beneficial)
• Research proposal (PhD); writing sample (some Master’s ask for essays)
• Passport, financial declarations (for need‑based awards), country‑specific forms

12–18‑Month Timeline (Master’s & PhD in Finance)

• 18–15 months:

  • Shortlist 12–15 programs (balance: UK, EU, Nordics) + scholarships.
  • Book IELTS/TOEFL and GRE/GMAT (finance programs often value quant scores).
  • Contact potential supervisors (PhD) with a 1–2 page concept note.

• 15–12 months:

  • Draft SOP and scholarship essays; request recommendations.
  • Apply for Erasmus Mundus, Eiffel (via institutions), SISGP, DAAD, Chevening/Commonwealth.

• 12–9 months:

  • Submit university applications; target early rounds for scholarships.
  • Prepare for interviews (STAR method; discuss models, datasets, and outcomes).

• 9–6 months:

  • Compare offers: tuition, stipend sufficiency, career support, visa timelines.
  • Appeal for top‑ups (provide evidence and competing offers).

• 6–0 months:

  • Finalize visa, housing, and insurance; open a blocked account if Germany.
  • Start pre‑course refreshers (math camp, Python for finance).

Budget, Proof of Funds, and Insurance (Don’t Miss These)

• Proof of funds: Scholarship letters often satisfy visa requirements; otherwise, national rules apply (e.g., Germany’s blocked account).
• Health insurance: Included in many awards (DAAD, SISGP, Stipendium Hungaricum, Türkiye Bursları). If not, budget for student health insurance or national coverage.
• Housing: Dorms and university residences are often cheaper; apply early in high‑cost cities.

Monetization‑friendly CTAs:

• Compare student health insurance by country
• Open a Germany‑approved blocked account online
• Book student flights with extra baggage for relocation

Scholarship Stacking: Build a Fully Funded Package

• Combine a tuition waiver with a government stipend:
  • Example: Tuition waiver (Bocconi Merit) + DSU grant = fully funded.
  • Example: Tuition waiver (SSE/Aalto) + SISGP stipend = fully funded.
• Pair Erasmus Mundus tuition with its stipend—already fully funded.
• Ask about “co‑funding” rules; some awards require disclosure or reduce amounts if you stack.

Common Mistakes (and Fixes)

• Applying to “any finance program” without a focused track (e.g., quant finance, risk, financial economics) that matches your profile.
• Weak quant evidence—fix with online courses (linear algebra, probability, econometrics) and coding projects before applying.
• Missing early scholarship deadlines (often precede university deadlines).
• Generic SOP without concrete finance outcomes (roles, sectors, tools).
• Ignoring visa timing and proof‑of‑funds requirements.
• Assuming tuition waivers equal fully funded—budget for living costs unless a stipend is confirmed.

FAQs: Fully Funded Finance Scholarships in Europe (Schema‑Friendly)

Q1: Are there fully funded scholarships for Master’s in Finance in Europe?

A1: Yes—most reliably via Erasmus Mundus Joint Masters (tuition + stipend), Chevening/Commonwealth (UK), Swedish Institute (Sweden), Eiffel (France, with tuition typically waived by hosts), Stipendium Hungaricum (Hungary), Türkiye Bursları, and DAAD Study Scholarships (Germany). University/regional grants (e.g., Italy DSU) can top up tuition waivers to make a package fully funded.

Q2: Which countries are best for fully funded finance scholarships?

A2: The UK, Germany, France, Sweden, Switzerland, the Netherlands, Italy, Hungary, and Türkiye offer strong funding routes. For PhD, funding is pervasive across Europe—most Finance PhDs are fully funded or salaried.

Q3: Is PhD in Finance fully funded in Europe?

A3: Generally yes. Top programs (LSE, Oxford, HEC, INSEAD, Bocconi, SSE, SFI network, Dutch/German schools) provide full tuition and a stipend or salary. MSCA Doctoral Networks also fund finance‑related topics.

Q4: Do these scholarships cover insurance and visa costs?

A4: Many do. Examples: Chevening covers UK IHS and visa; DAAD and Stipendium Hungaricum include health insurance; Sweden (SISGP) includes insurance; Eiffel covers insurance and travel. Always check the benefits section of each program.

Q5: Do I need GRE/GMAT for finance scholarships?

A5: Requirements vary by program. Competitive quant scores can boost admissions and scholarship chances for finance. If tests are optional, demonstrate quant readiness via coursework (calc/probability/econometrics), projects, and certifications (CFA/FRM).

Q6: Can I stack scholarships to become fully funded?

A6: Often yes, but read co‑funding rules. A common approach is stacking a tuition waiver (university merit) with a government stipend (e.g., DSU, SISGP) to cover living costs.

Q7: What makes a strong application for finance scholarships?

A7: Evidence of quantitative ability, relevant internships/research, clear career outcomes (roles, sectors, geographies), impact stories with metrics, and tailored essays aligning with each funder’s mission.

Your 2025 Roadmap to a Fully Funded Finance Degree in Europe

Fully funded finance scholarships in Europe are real—especially if you target the right routes. For Master’s, prioritize Erasmus Mundus, Chevening, Commonwealth, SISGP, Eiffel, DAAD, Stipendium Hungaricum, Türkiye Bursları, and Italy’s DSU grants. For PhD, focus on fully funded/salaried positions at top finance departments and MSCA Doctoral Networks.