Loans and scholarships | IESE Business School

Loans and scholarships

Ways to finance your studies

IESE’s Financial Aid Office will help you find the financing options available to you. Thanks to years of accumulated experience built with help from student feedback, we’re able to guide you through the options and help you elect the best option for your specific needs.

Scholarships and agreements for IESE students

Completing a Master in Management (MiM), MBA, Executive MBA, Global Executive MBA, PhD or Executive Education program is one of the best possible investments in your future personal and professional growth. As such, deciding how to finance your studies calls for rigorous planning. We have arrangements in place with public and private institutions, which are available to benefit the majority of our students, although of course they can choose other options.

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IESE Ambassadors Scholarship

The IESE Ambassadors Scholarship awards 20 to 30 scholarships to students with outstanding academic records, excellent professional experience and personal merit. These students have exemplified a strong fit with IESE’s values.

IESE Women in Business Scholarship

IESE is committed to increasing the number of women leaders in business. These scholarships support women with a track record of outstanding professional accomplishment.

IESE Excellence Scholarship

This scholarship is awarded to the top performers in our application process and recognizes their outstanding achievements, personal merit and strong fit with IESE’s values.

IESE Young Leaders in Africa Scholarship

IESE awards up to 3 scholarships covering up to 90% of the MiM tuition fees. To be eligible, candidates must be nationals of Africa and have outstanding academic records, leadership potential and personal merit.

IESE Young Leaders in Emerging Markets Scholarship

The MiM program welcomes professionals from developing economies. These scholarships support outstanding candidates who live and work in a developing country.

IESE Social Entrepreneurship Scholarship

IESE awards one scholarship covering 10-50% of the tuition fee to a recently graduated student with a relevant experience in social entrepreneurial projects and a strong desire to have a positive impact in the world.

IESE Diversity Scholarship

IESE is committed to creating a diverse community for our students. This scholarship supports exceptional candidates from under-represented nationalities or unique profiles who can contribute positively to the classroom learning experience.

IESE Social Impact Scholarship

IESE values students who have made a significant social impact through their personal or professional experience. These scholarships are awarded to those who have made an outstanding contribution to society, by being involved in the non-profit sector or have helped to solve social or environmental issues.

IESE Young STEM Talent Scholarship

IESE supports students who have a strong background in science or technology and have the potential to drive innovation and technological advancements in their communities. These scholarships awards applicants who have shown interest and aptitude in areas such as big data, digital transformation, programming and artificial intelligence.

IESE University of Navarra Alumni Scholarship

IESE is the graduate business school of University of Navarra (UoN), and welcomes alumni from the UoN family to our programs. The MiM program has select scholarships available to outstanding applicants from UoN who have a strong academic record, high leadership potential and excellent personal merit. To find out more about this scholarship, please get in touch with csanchezg@iese.edu.

IESE Young Italian Talent Scholarship – Fondazione RUI

IESE awards 4 scholarships covering 50% of the tuition fee to Italian students with academic excellence and strong commitment to their country. To be eligible candidates must submit a recommendation letter from a staff member of Fondazione RUI. Please email Cristian Ciardelli c.ciardelli@fondazionerui.it.

IESE Legacy Scholarship

The IESE MiM program offers select scholarships available to the immediate family of IESE alumni and current students. To be eligible for a Legacy Scholarship, an applicant must have at least one parent or sibling who is an alumni or current student. The applicant must have a strong academic record, high leadership potential and excellent personal merit to be considered.

Heinrich J. Klein Foundation Scholarship – External Scholarship

The objective of the Heinrich J. Klein Foundation is to sponsor science and international exchange by granting scholarships to people during their training and further education period.

The Board of Trustees of the HJK Foundation selects the applicants and defines the amount of funding the person receives (the decision will be made in June/July each year). Submit your application directly to the HJK Foundation here.

IESE’s Young Christian Leaders Scholarship 

These scholarships are awarded to those youngsters who have made an outstanding contribution to society, by their social and cultural dedication within their communities to expand the core values of the Christian message. 

We recommend that you describe: the particular activities, together with which institutions and the length you have been involved with them, when submitting your scholarship application. 

Foundation Jose M Bosch Aymerich 

The Foundation Jose M Bosch Aymerich grants scholarships to Engineering and Architecture students with strong academic results, who are also in need of financial support, to undertake our Master’s in Management program.  

University of Navarra International Case Competition (UNICC) Scholarship  

IESE is the graduate business school of University of Navarra (UNAV). This scholarship is awarded to the winners of the University of Navarra International Case Competition that takes place annually. 

The scholarship applies to the winners of this current year´s competition and subsequent years to come. 

 

APPLICATION PROCESS

Most scholarships at IESE are merit-based, meaning that they are awarded for outstanding academic and professional achievements. All scholarship candidacies require one cover letter within the application  

Due to the continuous admissions process, scholarships are granted on a rolling basis – therefore, you will increase your chances of receiving a scholarship the sooner you apply!

A number of scholarships are available to incoming IESE MBA students. IESE scholarship applications should be completed and submitted within the MBA application form to the Admissions Department.

IESE Excellence Scholarship

This scholarship is awarded to the top performers in our application process and recognizes their outstanding achievements, personal merit and strong fit with IESE’s values. IESE Excellence Scholars will benefit from special engagement with senior leadership at IESE and will have the opportunity to share their ideas on developing our program for future students.

IESE Trust Scholarship

The IESE Trust awards 20 to 30 scholarships to students with outstanding academic records, excellent professional experience and personal merit. These students have exemplified a strong fit with IESE’s values.

Forté Fellowship

Forté Fellowships are open to all female applicants. Candidates should exhibit exemplary leadership through academic, team, community and creative leadership. Candidates should demonstrate a commitment to women and represent diverse educational and work backgrounds, career goals, ethnicities and citizenship. The maximum amount of the scholarship is one year’s tuition fees.

IESE Women in STEM (Science, Technology, Engineering and Math) Scholarship

This scholarship is meant for women who have a background in STEM or who have significant accomplishments in this field. They have the potential to serve as advocates to encourage and strengthen female representation in STEM.

IESE Women in Management Scholarship

This scholarship supports exceptional female applicants who have 5 years of work experience or more, have attained managerial experience and have demonstrated exceptional leadership qualities.

IESE Diversity Scholarship

IESE is committed to creating a diverse community for our students. This scholarship supports exceptional candidates from under-represented nationalities or unique profiles who can contribute positively to the classroom learning experience.

IESE Leaders in Africa Scholarship

IESE awards up to three scholarships covering up to 90% of the MBA tuition fees. To be eligible, candidates must be nationals of Africa and have demonstrated exceptional work experience and personal merit. This scholarship is available to those who apply within our ER, R1, R2 & R3 application deadlines.

IESE Leaders in Emerging Markets Scholarship

The MBA program welcomes professionals from developing economies. These scholarships support outstanding candidates who live and work in a developing country.

IESE Entrepreneurship Scholarship

These scholarships are awarded to professionals who have displayed a high level of entrepreneurial spirit, creativity and resilience. Applicants should demonstrate a proven track record of entrepreneurship and a commitment to contribute to the entrepreneurial ecosystem at IESE.

IESE Technology & Innovation Scholarship

IESE supports professionals who have a strong background in science or technology and have the potential to drive innovation and technological advancements in their communities. These scholarships award applicants who have shown expertise in areas such as big data, digital transformation, programming and artificial intelligence.

IESE Leaders in Sustainability Scholarship

This scholarship supports applicants who have shown a high level of achievement and passion in leading sustainable business causes. They have the potential to inspire others as champions of sustainable business.

IESE Leaders in Non-Profit & Public Sector Scholarship

This scholarship is primarily for applicants who have dedicated their careers to non-profit or government organizations, helping people on a societal level.

IESE Family Scholarship

IESE welcomes students with families and grants scholarships for students who, in the opinion of the Scholarship Committee, deserve financial aid.

IESE Alumni Association Scholarship

The IESE Alumni Association awards five scholarships covering up to 50% of tuition fees for the first and second year of the MBA program. These scholarships are for future MBA students who have demonstrated exceptional work experience and personal merit.

 

APPLICATION PROCESS

  • All scholarship candidacies require one cover letter within the application. You do not have to indicate which scholarship you are applying for. 
  • If you intend to apply for a scholarship, we strongly recommend that you complete the cover letter and submit it together with your application. Your scholarship application will only be considered after you have been accepted into the program and does not affect the outcome of your submission. 
  • The Scholarship Committee meets at least once for each round of applications. The Committee will review your application and, if approved, will award you with a specific scholarship. 
  • When possible, scholarship decisions will be announced with the admissions decisions, although some scholarships are awarded at a later stage (no later than June 30th). 
  • Generally, scholarships at IESE are merit-based, meaning that they are awarded based on outstanding academic and professional achievements. The GMAT or GRE score also plays an important role in securing a successful application. 
  • Individual scholarships typically range from 10% to 50% of tuition fees. Please note that living expenses are not covered by any of the scholarships. In exceptional cases, candidates may be awarded a combination of scholarships (e.g. Forte Foundation + Family scholarship). 
  • We have a specific pool of need-based scholarships, mainly for candidates from emerging markets. If you have any exceptional financial circumstances that you would like us to take into consideration, please provide a clear explanation in your scholarship cover letter and include any relevant supporting documentation. You may be asked to provide documentation such as income tax returns, proof of salary, bank statements for the past 3 months, medical care etc. 
  • We discourage candidates who are fully company sponsored from applying for scholarships, as our scholarships are exclusively intended to support those who have financial limitations. 

Candidates already admitted into the Executive MBA program and those whose application process is nearing completion, i.e.: online application, test results, academic transcript completed and admission interview completed, may apply for a scholarship. In order to be eligible for these scholarships, it is necessary to submit the scholarship application within the established deadlines. 

  • Candidates may apply for more than one category, but only one scholarship per candidate will be awarded.
  • In case of a candidate’s withdrawal before the start of the program, admission may be extended, but not the scholarship.
  • The Scholarship Award Committee will make its decision in two calls. 

The scholarships are endowed with an amount of €10,000 applicable to the tuition of the Executive MBA program. They are divided into the following categories: 

Excellence Scholarship

Scholarships will be awarded to those students who demonstrate academic merit together with an outstanding professional background.

Woman Talent Scholarship

Scholarships available to women with a high leadership potential.

Entrepreneurship Scholarship

Scholarships will be awarded to entrepreneurship students who have launched or are launching a new business.

Mitsubishi Entrepreneurship Scholarship 

Support for entrepreneurs who have started or are developing a new business. With the collaboration of Mitsubishi Electric.  

IESE and ONCE Foundation  Scholarships 

IESE and the ONCE Foundation grant unique annual scholarships of up to 65% of tuition fees to people with disabilities who wish to study the Executive MBA. The scholarships are offered to people with a legally recognized disability of at least 33%, who must present a copy of their disability certificate and fill out a scholarship application form in order to be evaluated. A committee made up of members of the ONCE Foundation and IESE’s EMBA will select the candidates. The deadline for submitting the application is June 1st, and the scholarship awards will be announced one month later. 

 

REQUIREMENTS AND JURY 

Candidates admitted to the Executive MBA program are eligible to apply for a scholarship; special consideration will be given to those who, for various reasons, are in a more difficult financial situation; candidates may apply for more than one category, but only one scholarship will be awarded per candidate; in the event of withdrawal before the start of the program, admission may be extended, but not the scholarship; and the jury is made up of prestigious business leaders, and IESE alumni who actively collaborate with the school. 

Jury members will base their decisions on the following criteria: 

  • The candidate’s academic merit (including the candidate’s GMAT score or IESE admissions test).
  • The candidate’s experience and leadership in his or her professional field.
  • The candidate’s impact on his or her company and society.
  • Entrepreneurial initiative, capacity for innovation and international track record.
  • The evaluation report of the admissions interview. 

IESE’s mission is to help develop outstanding business leaders across the world. We offer a range of scholarships for the Global Executive MBA program to managers, executives and entrepreneurs who have demonstrated the potential to make a positive impact on the global business community.

IESE is particularly interested in contributing to the development of:

  • entrepreneurs and innovators who can create economic and social value.
  • women who lead and inspire.
  • public sector leaders who contribute to shaping society.
  • business leaders in growth markets with the skills and expertise to grow their companies.
  • senior executives of global organizations who seek to fulfill their real potential in leadership positions.

Women in business scholarship 

These scholarships, covering up to €30,000, are awarded globally. Open to female candidates with significant experience in management roles and currently holding or aspiring to hold a leadership position in either the private or public sector. 

Global leader scholarship 

These scholarships, covering up to €30,000 are awarded globally. Applicants should be leaders working or intending to work in a global context, be it public or private, corporate or entrepreneurial. They must have significant experience in management roles and currently holding or aspiring to hold a leadership position in the private or public sector. 

 

GUIDELINES

As a prerequisite, scholarship applicants must have already been admitted to the IESE Global Executive MBA program. On admission, eligible candidates will be invited to apply for the scholarship of their choice.

Key rules:

  • Admitted candidates who are fully or partially sponsored by their companies will not be eligible for scholarships.
  • Applications can only be submitted for one specific scholarship.
  • Although admission to the program is deferrable, scholarships are not.

JURY

Jurors are global business leaders who collaborate actively with IESE. They will base their decisions on the candidate’s:

  • academic merit
  • leadership experience
  • impact on his/her company and society
  • admissions interview evaluation

For our executive education programs, we offer scholarships for entrepreneurs, women in business, and NGO employees. You can apply here for the AMP and PMD scholarships. 

Women in Leadership Scholarship 

Each academic year, the AMP program offers a Women in Leadership Scholarship to support women with outstanding accomplishments. The scholarship covers up to 20% of the tuition fee. 

Entrepreneurship Scholarship 

Each academic year, the AMP program offers an Entrepreneurship Scholarship to support entrepreneurs and innovators who can create economic and social value. The scholarship covers up to 15% of the tuition fee. 

Development Scholarship 

Each academic year, the AMP program offers a Development Scholarship to support candidates from non-profit organizations (NGOs) and IESE associated schools in the effort to have a positive impact in the world. The scholarship covers up to 40% of the tuition fee. 

Global Support Scholarship 

Global Support Scholarship covers 10% of the tuition fee, with the purpose of supporting candidates impacted by recent and ongoing global events.  

Scholarship Committee 

Decisions will be based on the applicant’s: 

  • Academic merit 
  • Significant career development 
  • Personal challenges overcome 
  • Impact on his/her company and society 
  • Admissions interview evaluation 

 

GENERAL CONDITIONS

  • Candidates who are fully or partially sponsored by their companies will not be eligible for scholarships. 
  • Scholarship applications can only be submitted for a specific program. This means that, once awarded, a scholarship can only be used for the chosen program. 
  • Although admission to the program is deferrable, scholarships are not.
  • Scholarship applicants must have already been admitted to one of the General Management Programs. 

 

GENERAL MANAGEMENT PROGRAMS FINANCIAL AID

IESE Business School offers a range of scholarships for the AMP and PMD programs to CEOs, C-suite executives, functional managers and entrepreneurs who have financial restrictions but have demonstrated the potential to make a positive impact on the global business community. 

Global Loans 

All participants who are admitted to our program can apply for the Global Loan, offered by Sabadell bank. For more information, click here (financing for international participants) or click here (financing for Spanish participants)  

Military (USA) (just for AMP) 

IESE Business School is committed to supporting U.S. military service members and veterans to take on leadership roles in the business world. Whether just beginning to think about your transition from active duty or already moved forward, it is essential to capitalize on the skillset you already have. 

Tax Benefits for Education 

PIF (Spain) 

PIF is an economic incentive offered to companies who allow their employees to pursue higher education. It is applicable under Spanish legislation for any employee that paying into the Spanish social security system. Contact us for more information. 

Other Countries 

Please contact the corresponding authorities in your home country to confirm if any tax benefits apply. 

IESE’s Focused Programs offers different types of scholarships for:

  • Entrepreneurs.
  • Executive women.
  • NGOs.

Contact us to find out more about eligibility and how to apply.

In addition to IESE scholarships, many students finance their studies through scholarship programs funded and administered by external organizations. Though IESE does not administer or select for these organizations, we are ready to support students in any aspect of their application process. Some foundations also rely on IESE to carry out an initial screening of candidates.

You will find all scholarships available for you in FAO Search engine.

MBA Private loan options

MBA Public loan options

More Loans and Scholarships for MBA


Additional funding options include among others: Lendwise (loans for all countries on a case-by-case basis), Gyan Dhan (loans for Indian students), Juno/Earnest (platform for private loans for US students), Colfuturo (loans and scholarships for Colombian students), FUNED (Mexican students), The Romanian Education Trust (scholarships for Romanian students). Check the browser to find more sources of funding specific to your program and nationality.

Other Programs Funding Options

 

Browse Loans & Scholarships

Recommendations regarding scholarships and loans for students

1. Explore and analyze all financial options for financing your IESE program.

2. Get several rate quotes on MBA loans and compare them in order to choose the best offer.

3. Check your local finance providers and consider taking a loan in your local currency. Take into account exchange rate fluctuations, which may impact your loan repayment in the future.

4. Check out this website to look at different financing options.

5. Prepare a spreadsheet of your living costs and tuition fees, including the loan payments. Be aware that some loans require monthly payments during the study period. These payments can be interest only or principal plus interest.

6. Prepare all documents required for securing a loan before leaving your home country and bring them to Barcelona.

7. Apply for your loans as early as possible. Full-time MBA students should secure funding and send a financial proof to the Financial Aid Office before July 15.

8. For Spanish loans and other banking operations, obtain your NIE (Spanish residence permit) as soon as you arrive in Barcelona.

9. Remember that IESE’s Commitment and Reservation Fees are not covered by loans offered at IESE.

10. All full-time MBA students should send their financial plan, according to dates provided by the Financial Aid Office.

11. Take into account that loan amounts and interest rates depend on the risk profile of each candidate: a student’s loans, debt and savings, along with country risks such as an exchange rate volatility.

1. Establish a good and stable relationship with your loan/scholarship provider. Whether it’s a bank or private lender, know who your contact person is and keep your contact data updated, especially when leaving Barcelona.

2. Make sure you know your tuition payment due dates (monthly) and exact amount. In the case of loans, make sure that the bank has all information and is transferring the funds by the deadline.

3. Pay tuition according to the school tuition deadline.

4. In case you opt for the Bank Sabadell loan, remember to sign the loan in October (first week) and not before. From that moment, you will have to pay interest and your deferment period starts.

5. In case of the Bank Sabadell loan, check that you have authorized the bank to send payment for the second year tuition.

6. In case of the U.S. Federal loans, remember about restrictions regarding the international module in New York, internship and exchange program in the U.S. and in any other ineligible school.

7. If your loan is in a different currency than your national one, take measures to ensure future payments regardless of exchange rate fluctuations.

1. Meet your loan repayment schedule. If you’re going to miss a payment for any reason, be proactive and work with the lender in advance to find solutions before it triggers any procedure against you.

2. School loan conditions for incoming students depend on the payment behavior of all IESE students.

Q&A

It’s possible to cover the full cost through a mix of loans and scholarships.

All candidates, including international candidates, can apply for scholarships available and all admitted students can apply for loans.

We recommend you start planning your funding at the same time as you decide to do an MBA.

The Financial Aid Office supports all students in their relationship with banks. If you need our help, contact us at Financial Aid Office. Regarding scholarships, contact the MBA Admissions team in order to receive more information about scholarships available.

Once you are admitted to the program, you can apply for one of the loans available at IESE. You will receive a letter with further instructions from the Financial Aid Office soon after being admitted.

Yes, international students have various loan options.

You should apply for loans as soon as you are admitted to the program and at least 2-3 months before your program starts. For the incoming students of the full-time MBA program, you will receive a letter from the Financial Aid Office including deadlines for submitting your financial plan.

Please contact the Financial Aid Office at the email faohelp@iese.edu and we’ll provide you with all the necessary information.

It is not usually required, but if you can provide a bank guarantee (in the case of the Bank Sabadell loan), conditions of the loan may be more attractive with guarantees.

Contact the Admissions Department of the program for which you are applying.

The bank evaluates the student’s credit capacity on a case-by-case basis prior to granting a loan. Loan amounts and interest rates depend on the risk profile of each candidate: a student’s loans, debt and savings, along with country risks such as exchange rate volatility.

Yes. IESE is registered with the U.S. Department of Education as an accredited foreign school and is eligible to disburse U.S. Federal Loans (Stafford Loan and Graduate PLUS Loan) through the Direct Loan Program for full-time MBA program students.

The fee for the full-time MBA program starting in September 2023 is €99,500.

Learn more about the cost of living in Barcelona.