Government of Guatemala - Guatefuturo Student Loan Scheme

What you get

Guatefuturo funds postgraduate studies abroad through a ‘Crédito-beca’: a loan that is partially converted into a grant if you meet the conditions. The amount is based on your actual costs, up to a maximum of approximately 44,000 EUR (50,000 USD), and is paid out over a maximum period of 24 months. It covers tuition fees, flights, health insurance, study materials and living costs of up to approximately 1,150 euros (1,300 US dollars) per month, provided you are living alone. Interest of 7.5% per year is charged during your studies. When you complete your studies and return home, a large portion of the amount actually drawn down will be waived: for most degree programmes, 50% will be waived; for an MBA or a degree in Business Administration and Management, 25%. A further 10% of the remaining balance will be waived if, upon your return, you work for at least one year in the civil service, in university teaching or research, or outside the Department of Guatemala. Guatefuturo is a Guatemalan charitable foundation that trains professionals abroad.

Who can apply

• Nationality: You are a Guatemalan citizen.
• Residence: You are resident in Guatemala at the time of applying.
• Degree already held: You have obtained a first university degree (Licenciatura or an equivalent bachelor’s degree).
• Where you study: You are studying abroad at a recognised higher education institution, on a full-time, face-to-face course.
• Level: A Master’s degree, specialist medical training (in the healthcare sector only) or a PhD.
• Field of study: All fields of study are open. Medical disciplines are funded exclusively within the health sector.
• Admission: You have received a letter of acceptance from your chosen university.
• Language: You can demonstrate that you are proficient in the language in which your course is taught.
• Programme length: The programme lasts for at least 9 months. If you are already studying there, you can still apply as long as you have at least 9 months left.
• Age: There is neither a minimum nor a maximum age.

How to apply

Applications are made via the online form on the Guatefuturo website. This form becomes available at the start of the annual call for applications (convocatoria), usually between January and March. The selection process is anonymous and is based solely on the documents you submit: the quality of your university and your degree programme, your average mark in your Bachelor’s degree, and an essay. The results will be announced in July.

How realistic are your chances?

The pool of eligible applicants is small. You must be a Guatemalan citizen, live in Guatemala, already hold a first university degree, and be able to provide confirmation of admission from a foreign university. Selection is based solely on merit, taking into account your grades, your chosen degree programme and an essay; therefore, outstanding academic achievement and a well-reasoned essay are of the utmost importance. Please note that this is primarily a loan with partial debt forgiveness, rather than a free scholarship. Weigh up the interest rates and the obligation to return to Guatemala before committing yourself.