Year on year, the number of students opting to study in Germany has steadily risen. Germany has become a prime location for foreign students to pursue their dreams. High standards of German Universities in academics and research, low costs of education and ample funding opportunities make Germany a favorable destination. Besides living in Germany offers great career prospects for students in technology, engineering, business and pure sciences.
DAAD or German Academic Exchange Service is a national agency of 365 German institutions. Funded by the German government and EU, DAAD offers 1,40,000 scholarships and grants annually around the world. In fact, DAAD is the largest such organization in the world. It supports doctoral scholars, researchers and even students financially to study abroad and in German universities. Since its establishment in 1925, DAAD has funded around 2.6 million scholars. Those wanting to study in Germany should stay updated through its official website for funding and scholarships. Click here for the information.
One such scholarship provided through DAAD is the ERP Study Scholarship of Economics and Business Administration. The Federal Ministry of Economics and Technology is providing sponsorship to foreign graduates of Economics and Business Administration to complete a master’s degree in the same at a public or a state-organized university in Germany. Applicants must have completed their bachelor’s degree or diploma by the time they commence their scholarship support study programme. They must have excellent grades in Bachelors, Diploma etc. in Economics or Business Administration.
Applicants need to provide degree certificates, a personal statement and a full curriculum vitae. A letter of admission needs to be provided to avail of the scholarship. It must be submitted before the commencement of the scholarship-supported programme if it is not available at the time of application. Students can fill their applications online on the DAAD platform over here.
The duration of the scholarship is 18-24 months or 3-4 semesters. Students are required to maintain consistent academic performance to receive funding after the first year. An amount of 850 euros is awarded monthly to the applicants as part of living expenses and 450 euros are given as study allowance every year. The scholarship also covers travel allowance and payments toward health, accident and personal liability insurance. If required and approved by the selection committee, DAAD provides funds to pursue a two-month German language course at a language school in Germany, before the start of the scholarship-supported studies. For further information on the scholarship programme, one can look here for the same.