Introduction
Studying in Europe has been a target destination for a lot of students and rightly so. With world-class universities, globally recognized degrees, and strong post-study work rights, Europe offers a blend of academic excellence and career opportunity unmatched by most regions.
Yet, the biggest barrier remains cost. Tuition fees for master’s programs range between $15,000-$45,000 per year, and even though that’s often lower than the US, it’s still a significant investment for most students and their families
That’s where scholarships come in - and if you plan strategically, you can cover up to 100% of your tuition and living costs through them.
At SG Masters Pathways, we help students not only shortlist universities but also maximize funding opportunities. In this blog, we’ll break down the top 10 scholarships for Indian students pursuing a master’s in Europe, along with insider tips on how to actually get them.
Why Europe Is a Great Destination for Indian Students
Before jumping to the list, let’s understand why Europe remains one of the most ROI-friendly destinations for master’s degrees.
1. Lower Tuition: Most European programs (even top-ranked ones) are far more affordable than their US counterparts.
2. Upto Two-Year Post-Study Visas: France, Germany, Netherlands, and Spain allow international graduates to work after graduation.
3. Diverse Funding: Many universities and governments actively fund Indian students through merit-based or need-based grants.
4. Cultural & Professional Diversity: Students build global networks across industries and regions.
(1) Erasmus+ Joint Master Degree Scholarship (All of Europe)
The Erasmus+ is the holy grail of scholarships for Indian students. It’s funded by the European Commission and covers:
· Full tuition
· Monthly living allowance (€1,000-€1,400)
· Travel and insurance
Each Erasmus+ program is jointly offered by 2-4 European universities. If selected, you’ll study across multiple countries and graduate with a joint master’s degree.
Eligibility: Excellent academics, motivation letter, and references.
Success Tip: Apply early - only 3-5% of applicants get selected. Highlight leadership and intercultural adaptability in your essays.
(2) DAAD Scholarships (Germany)
DAAD is Germany’s official academic exchange program. It offers fully funded scholarships for international students pursuing master’s and PhD programs.
Coverage:
· Full tuition (public universities often have zero tuition)
· Monthly stipend (€992)
· Health insurance + travel grant
Eligibility: 2 years of work experience, strong academic record, and clear study-to-career alignment.
Example Programs: Master in Management (ESMT Berlin), MSc Data Science (TU Munich), Master in Finance (Frankfurt School).
(3) Eiffel Excellence Scholarship (France)
Funded by the French Ministry of Foreign Affairs, the Eiffel Excellence Scholarship targets top international students pursuing master’s or PhDs in France.
Coverage:
· Monthly allowance (~€1,200)
· International travel
· Health insurance
Eligibility: Age below 25 for master’s programs, strong academic standing, and sponsorship by a French university (you can’t apply directly).
Tip: Get your university to nominate you early - most French schools have their own internal Eiffel deadlines between October and December.
(4) Chevening Scholarship (United Kingdom)
Among the world’s most prestigious scholarships, Chevening is funded by the UK government and covers:
· Full tuition
· Monthly living expenses
· Travel to/from the UK
Eligibility:
· Minimum 2 years of work experience
· Exceptional leadership potential
· Clear post-study goal of contributing to India’s development
Chevening alumni include policymakers, entrepreneurs, and global leaders - a strong fit for candidates aiming for impact.
(5) Swedish Institute Scholarships (Sweden)
The Swedish Institute for Global Professionals (SISGP) awards fully funded scholarships for master’s programs in Sweden.
Coverage:
· Full tuition + SEK 12,000 monthly stipend
· Travel grant of SEK 15,000
Eligibility: Professional experience, academic excellence, and leadership in sustainability or innovation.
Key Advantage: Sweden offers English-taught master’s programs even in niche fields like climate finance, social innovation, and AI ethics.
(6) Holland Scholarship (Netherlands)
If you’re targeting Dutch universities such as Erasmus, Tilburg, or Maastricht, the Holland Scholarship is a great start.
Coverage: €5,000 one-time grant toward tuition.
Eligibility: Non-EU students with excellent academic profiles.
Combine this with university-specific merit scholarships (like the Maastricht University High Potential Scholarship) for full coverage.
SGMP Tip: The Netherlands offers high employability and English-speaking work environments - a smart ROI pick for MiM, MSBA, and MEM students.
(7) ESCP Business School & HEC Paris Merit Scholarships (France)
Both HEC Paris and ESCP offer extensive merit-based funding to Indian students, often covering 20-50% of tuition fees.
HEC Paris:
· Merit-based and diversity scholarships for MiM & MBA students.
· Awarded automatically during admission consideration.
ESCP Business School:
· “Women in Leadership,” “Entrepreneurial Excellence,” and “Emerging Market” awards.
· Combine with partial aid or external grants.
SGMP Take : As a graduate of IE Business School, I’ve personally seen how French schools recognize Indian talent - your essays and early application timing make a real difference.
(8) IE Foundation Scholarships (Spain)
IE Business School offers multiple scholarships for Indian students in MiM, MBA, and finance programs.
Coverage: 10-50% tuition fee reduction depending on merit, leadership, and financial need.
Types:
· IE High Potential Award
· IE Women in Business Scholarship
· IE India Talent Award
SGMP take: As an IE alumnus, I’ve seen Indian students receive up to €25,000-€30,000 in aid. Strong GMAT/GRE scores and social impact work help you stand out.
(9) ESSEC & Bocconi International Scholarships (France & Italy)
ESSEC Business School offers the “Academic Excellence Scholarship” (up to 50%) and “Diversity of Geography” scholarships for MiM/MBA students.
Bocconi University in Italy provides full tuition waivers for exceptional international profiles.
Both are highly ranked and career-focused - perfect for Indian students seeking consulting or finance careers in Europe.
ROI Snapshot: Bocconi MiM graduates earn ~€65,000 average starting salary - among the highest in Europe.
(10) ETH Zurich Excellence Scholarship (Switzerland)
For STEM or data-driven students, ETH Zurich offers a competitive Excellence Scholarship & Opportunity Programme (ESOP).
Coverage: Full tuition + CHF 12,000 living stipend per semester.
Eligibility: Top 10% of your class, strong academic references, and research motivation.
Though Switzerland isn’t an EU member, its master’s programs are globally ranked and immigration-friendly for STEM graduates.
Need-Based Scholarships & Country Snapshots
Even if you don’t secure one of the above, many countries offer smaller grants or university-specific bursaries:
|
Country |
Key Examples |
Typical Funding |
|
Germany |
Deutschlandstipendium |
€300/month |
|
France |
Campus France, Charpak |
50 - 100% |
|
Spain |
Banco Santander |
€4K |
|
Italy |
MAECI scholarships |
€900/month |
|
UK |
GREAT, Commonwealth |
100% (fully funded) |
How to Increase Your Scholarship Chances
1. Apply Early:
Most scholarships close 3-6 months before the program deadline. For 2026 intake, start by August-October 2026.
2. Show Purpose, Not Just Performance:
Scholarships value impact stories - leadership, community work, or unique contributions beyond academics.
3. Tailor Every Application:
Don’t reuse one essay for all - mention how that program or country aligns with your vision.
4. Leverage Your Story:
Indian applicants often underestimate how personal stories (small-town backgrounds, first-generation grads) stand out globally.
5. Ask Universities About Hidden Funds:
Many European schools have departmental or alumni-funded awards not listed on their websites.
Common Mistakes Master’s Applicants Make
1. Waiting till you get an admit before applying - most scholarships are application-linked.
2. Underestimating essays - 70% of scholarship decisions depend on your personal statement.
3. Ignoring smaller grants - multiple €3K-€5K awards can collectively cover 40-60% of tuition.
4. Copying templates from the internet - authenticity beats perfection.
Our Commitment At SGMP - We work with each student to:
· Map the right scholarship mix (country + university + private funds)
· Craft authentic essays that reflect both intellect and intent
· Build an overall funding plan that reduces financial stress
Also To make this process easier, we also have a scholarship tracker that lists:
· 100+ active scholarships by country and intake
· Eligibility filters (GMAT, GPA, nationality, degree type)
· Application deadlines and links
Link to Scholarship finder
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