Spain - Financial Information

Tuition fees

Public universities in Spain do charge registration and tuition fees. The costs are relatively low in comparison with other countries. However the prices vary according to institution and are charged per credit.

The average fee per credit for Master’s degree courses in 2014/2015 is €16.28 (£11.73). This is the figure published by the Spanish Ministry of Education, Culture and Sport. This means a Master’s degree at a public university in Spain costs around €977 (60 credits) to €1,950 (120 credits) (£704 - £1,400). Tuition fees at private universities can be higher.

Loans, Grants and Scholarships

Scholarships / funding packages are known as becas in Spanish. Some major scholarship schemes include:

  • Santander Formula Awards:Each year the Santander Formula Awards offer 100 scholarships of €5000 each for undergraduate and postgraduate students to study in a variety of countries including Germany, Belgium and Spain. You can find more information here:

https://www.agora-santander.com/profil/5316ea80cbf48780048b456d

  • Sainsbury Management Fellows’ Society Scholarship for full-time MBA courses: The scheme awards British engineers pursuing graduate degrees a scholarship covering 100% of tuition fees at IESE in Spain, SDA Bocconi in Italy, HEC in France, INSEAD in France and Singapore, RSM in The Netherlands and IMD in Switzerland.

http://www.smf.org.uk/scholarship/criteria.aspx

Student Loans

Bank loans are a common means of financing postgraduate study in Spain. Banks to look at: Banc Sabadell, BBVA, CatalunyaCaixa, La Caixa. However many Spanish universities encourage prospective students to apply for a loan in their home country first as many bank loans require evidence of Spanish residency or a long-standing relationship with that bank.

You will need to obtain an NIE (Spanish residence permit) for applying for a Spanish loan or other financial activities, such as opening a bank account.

Many loans require monthly payments during the study period.

IESE Financial Aid Office best practices and advice on student loans:http://www.iese.edu/en/multimedia/FAO%20advices_tcm41-126744.pdf