Grants for Foreign Students in Madrid! - Collegiate

Studying abroad is a fantastic opportunity to broaden your horizons and gain valuable skills and experience which will look great on your CV. If you’re excited about the idea but concerned about the costs, don’t worry! There are plenty of grants available to help you make the most out of your time abroad.

Here’s a quick guide to the various funding options out there.

Why Apply for a Grant?

Studying abroad can incur lots of extra costs, whether that’s by paying for your visa, booking flights, trains and buses, adding extra luggage, and paying rental deposits. These expenses can add up quickly. However, everyone should have the opportunity to study abroad, regardless of their financial situations. Grants are designed to alleviate the financial burden, ensuring that studying abroad can be accessible to all.

What are the Aids for Foreign Students?

Your university’s study abroad department should be your first port of call. They can provide information on available scholarships, grants and bursaries. It’s a good idea to ask about these on open days, or to find out when your university is holding a study abroad information workshop. Your university may even be able to partner you with someone who has recently returned from studying abroad, so that you can gain plenty of insight and advice from them.

Some questions you may want to ask can include:

How does student finance work for the year students are abroad? What tuition fees do you charge?
What scholarships, bursaries or grants do you offer students who are going to study or work abroad?
What criteria do students have to meet for these?
Will a student’s chances of successfully applying for or being eligible for a study abroad scholarship, bursary, or grant be affected by any other funding they might receive?
When do applications need to be in by?

The Erasmus+ Funding Programme

The Erasmus+ programme is open to all those in the EU, the wider EEA, Turkey, and North Macedonia. This does exclude Switzerland. With an estimated budget of €26.2 billion for 2021-2027, the programme offers opportunities for millions to study, train, volunteer and gain experience abroad.

The grant amount varies depending on how long you’re planning to stay abroad for, the academic year you’re going in, and the cost of living in your destination country. For example, countries with a higher cost of living such as Norway, Finland and Sweden offer higher grants, whilst countries like France, Italy and Spain offer lower grants. Payments are made in two installments with 70% of your grant being paid at the beginning of your time abroad, and 30% nearing the end of your placement.

To be eligible for the grant your time abroad must also last a minimum of 3 months and a maximum of 12 months, it must also be part of your degree.

Applications are considered on a first-come, first-served basis, so it’s essential to apply as soon as possible.

For more details speak to your university’s study abroad department or head over to the Erasmus+ website.

The Turing Scheme

Now that the UK has left the EU, UK students are no longer eligible for the Erasmus+ programme. However, the UK has now launched the Turing Scheme as its replacement. The scheme provides funding for over 41,000 students in study and work placements across more than 150 countries.

How much funding you’ll get depends on how long you’re going for, your household income, and the cost of living of your destination country. If you’re going for a short placement, that lasts between 4-8 weeks, you could be eligible for £120 per week. For placements lasting over 8 weeks, you could be eligible for £335 per month. This could be much more depending on your household income, or whether you have a disability.

Your university will guide you as to how and when to apply for this scheme.

To find out more, visit the UCAS website. Alternatively, contact your university’s study abroad department.

Collegiate Madrid Chamartín - Standard Studio

Discover the Advantages of Starting Your Experience with Collegiate

Planning your time abroad can take up a lot of time, so why not make finding accommodation easier for yourself? At Collegiate, we provide great student accommodation that’s designed to help our students make the most out of their time abroad.

At Collegiate, we have several locations across Europe that come with a whole host of facilities including quiet study rooms, a gym, an indoor swimming pool and shared dining rooms.

Click here to find out more about our locations across Europe!