How to Finance Your Study Abroad Program in Spain: Tips and Tricks

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how to finance your study abroad

Have you been researching how to finance your study abroad in Spain goals?

Maybe you’ve found the perfect university, but what about books? Housing? Are you still sorting out tuition?

Basically, are you wondering how to finance your education in Spain?

Look no further as we provide a few tips and tricks on how to finance your courses abroad!

How to Fund Your Education in Spain

Similar to how various types of financial aid are available to students in other countries, financial aid is an option for students pursuing higher education in Spain.

Options like loans, scholarships, and grants are available for prospective students.

If you’re lucky enough to count yourself among the thousands of students who study abroad in Spain each year, these options may help you finance your time in Spain.

Study Abroad Scholarships for Spain

Study abroad financial aid packages can come in various shapes and sizes – some of which are found in the form of scholarships through universities.

For example, the Complutense University of Madrid has a direct list of scholarships and grants on its website that students can peruse.

Scholarships with the university are based on a variety of parameters including academics and socioeconomic status.

A great way to find out if your ideal university offers study abroad scholarships is simply to navigate to their website!

Many universities list scholarship opportunities directly on their site.

For example, the Universidad Carlos III de Madrid has an entire page dedicated to scholarships and grants offered by the university.

Universidad Nebrija in Madrid is the same – they’ve got a dedicated scholarship and grants page for study abroad students specifically.

Study abroad scholarships are also available through sites like the Spanish Ministry of Education or the Cervantes Institute.

The site offers an entire listing of various scholarship opportunities for students.

study abroad scholarships

Apart from governments and universities, scholarships are also offered through private institutions such as Santander.

For example, they have an entire page dedicated to various scholarships and grants available around the world.

There are many private institutions who offer scholarships – your university may be able to refer you to specific reputable options.

You can also use online searches or referrals from friends or teachers to see which options might be a good fit!

Scholarships and Grants to Finance your Study abroad in Spain

Grants are another form of student finance for study abroad.

While scholarships are typically awarded based on merit, grants are awarded to individuals on a needs basis.

Grants are typically processed on a first-come, first-serve basis.

This means students who wish to obtain grant money to fund part of their study abroad program should plan to apply early.

One example of a study abroad grant is known as the CIEE Gilman Go Global grant.

This grant is offered to U.S. students hoping to study abroad who currently face a financial barrier to doing so.

The grant has two application dates depending on when you begin your studies: April 1 and October 15.

Study Abroad Loans for Spain

If you’ve applied for scholarships and grants, but you still find that you’re coming up short on funding, a student education loan for study abroad is another option.

Plenty of student loan funding options exist for eligible students hoping to extend their education overseas.

For example, some students may receive federal aid to pay for college tuition. This federal aid can also be applied toward study abroad programs!

You can contact the financial aid office at your current university to determine next steps.

For those who haven’t received or don’t qualify for government funding, a private education loan for abroad studies is another option.

There are many banking institutions that offer private student loans.

A major difference between federal loans and private loans is that a private lender will check an applicant’s credit.

For many students without a credit history, private loans may be difficult to obtain. However, students can apply with a co-signer such as a parent or guardian.

study abroad scholarships

Postgraduate Study Abroad Scholarships for Spain

For those coming to Spain from abroad, there is a branch of the Government of Spain known as the Ministry of Foreign Affairs and Cooperation that offers grants and scholarships for international applicants.

More specifically, these scholarships are known as MAEC-AECID scholarships.

The Ministry of Foreign Affairs also offers these scholarship opportunities for partner countries and Spaniards alike.

MAEC-AECID grants are awarded annually, with scholarships typically awarded to students at the postgraduate degree level.

The scholarship is offered to students who hope to work on projects related to Research and Development Cooperation at Spanish universities.

The scholarships allow students from Latin American, Asian, and African countries to study in Spain.

It is also open to other European Union and Spanish applicants who hold a Bachelor’s degree.

Financial Aid Packages

Whether you’re applying for scholarships, grants, loans, or a mixture of all three, it’s a good idea to reach out for detailed information.

Financing your time abroad is no small feat, but the process can be made much easier if you’re equipped with the proper information before you begin any applications.

For example, you can use the Spanish Embassy in your country to obtain further information about studying abroad in Spain, or you can contact the university where you hope to study.

International students will ultimately need to complete and submit financial aid packages through the Ministry of Foreign Affairs, the Ministry of Education, or the Instituto de Cooperacion Iberoamerican.

Completing and submitting your information on time (or even ahead of time!) will ensure you’ve got the best shot at receiving grants or loans that are available to you.

How to Finance Your Study Abroad in Spain – Budget Items

Scholarships are not only great ways to cover tuition, they are also a great way to cover costs like housing or food.

Food, accommodation, clothing, and entertainment are all a part of the budgetary needs of student life.

Scholarships can help ease the burden of cost of living so you can focus on your studies.

Not to mention, you’ll be studying in Spain, so having a little extra cushion on your finances will make your time there even more sweet.

how to finance your study abroad

Ready to Find Funding to Study in Spain?

Studying abroad can be one of the most fulfilling educational experiences you’ll have.

If you’ve been searching for things like ‘how to finance my studies in Spain’ or ‘study loan to study abroad’ but you’re not sure where to start, don’t hesitate to reach out.

Our team at Go! Go! España is dedicated to making your transition to life in Spain an easy one.

Need help understanding what documents to submit for a scholarship application?

Curious to know more about scholarship deadlines or what a university requires from you?

We’d love to help you sort through scholarship application questions or even answer questions about what Spanish universities you’re interested in.

Whatever the guidance may be, we’re here to help.

What are the best ways to get funding to study abroad in Spain?

There are a few options available to students looking to study in Spain! Scholarships, grants, and loans are all available options for those looking to fund their studies abroad.

Can international students receive financial aid from Spain?

Yes, financial aid is available to international students who wish to study in Spain.

Should I take out loans to study abroad?

While we can’t suggest whether loans will be the right course of action for you, many do use student loans to fund their education. Some students do say an education loan is worthwhile for the life-changing experience of studying abroad.

Where should I start my search for finding study abroad financing?

A great place to start is at your current university! Get in touch with the financial aid office at your university. They’ll be able to guide you through the first steps on how to finance your studies in Spain, including scholarship or grant opportunities.

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