Bank of Spain - Scholarships for Further Education

Bank of Spain Scholarships for Further Education

You will receive 21,500 EUR per year if you are studying in Spain or another European country. The amount will be paid out for one or two academic years, depending on the duration of your Master’s programme. If you are studying elsewhere, the annual amount is set in the relevant local currency: for example, approximately 27,500 EUR for the USA (29,000 US dollars) or approximately 21,600 EUR for the UK (18,500 pounds). The Banco de España will also reimburse your enrolment and tuition fees upon presentation of proof, with no upper limit set. In addition, you may be invited to work at the Banco de España in Madrid for one or two months (June to September). There, you will be able to make use of the Bank’s data and research resources and get to know its experts; for the two months, you will also receive an additional 3,100 EUR gross. The scholarship is awarded annually by the Banco de España, the Spanish central bank, to support postgraduate studies in economics and finance.

Who can apply

• Nationality: You are a Spanish national.
• Degree: You hold a university degree (Bachelor’s, Licenciatura or equivalent) or are in your final year of study and will graduate by 1 September of the funding year.
• What you study: An official master’s degree programme in economics, finance or technological innovation within these fields. The choice of university, degree programme and subject area is entirely up to you.
• Where you go: Every country, including Spain itself.
• Language: You can demonstrate sufficient knowledge of the language spoken in the country where you will be studying.
• First time only: You have not yet received a training grant from the Bank of Spain.

How to apply

Applications must be submitted online via the Bank of Spain’s web portal. You must attach your academic transcript, your degree certificates, a personal statement and proof of admission to your chosen university. In addition, at least two of your university lecturers must send their letters of recommendation directly to the Bank by email. The application deadline is 10 February at 14:00 Spanish mainland time. The decision will be made on the basis of the documents submitted; there will be no interview.

How realistic are your chances?

The target group is relatively small: applicants must be Spanish nationals, hold a university degree or be about to graduate, and be seeking to enrol on a Master’s programme in economics or finance. As there are only up to 10 places available each year, there is fierce competition for these places amongst the top economics graduates. Good grades and two strong references from professors are what set a suitable candidate apart from the rest.