4 Tips to Help You Finance Your INSEAD MIM
These are exciting times - the INSEAD Europe campus is getting ready to welcome its first Master in Management (MIM) class. As the school celebrates its 60th anniversary it is only getting younger, more energetic and more innovative!
Our MIM candidates are busy working on their admission applications. Once your application is complete and submitted, you will surely take a hard look at your budget, and it will be time to work out a financing plan for your studies.
The tuition fees for the MIM are currently €47,500. Fees will be payable in three instalments and the first instalment of €8,000 will be required to reserve your seat on the programme. Your payment deadline for the first instalment will be one month after admission.
Below I will outline some financing options that will help to get you started.
1. Loan Programmes
First, consider some loan programmes to finance tuition fees. INSEAD MBA alumni have established Prodigy Finance, an international loan programme that offers financing of tuition fees without security or guarantees (some restrictions apply).
MBA Alumni have also brought another funding scheme called Brain Capital which can help you to finance tuition fees and living expenses. Repayments of the tuition fees will be completely income dependent, giving you some flexibility for your future career and life choices
2. INSEAD Scholarships
Three INSEAD MIM scholarships are currently available: Diversity Scholarship, Financial Fellowship and Achievement Scholarship. All admitted candidates will be automatically considered for these scholarships, so there is no separate application required. If you've been successful in securing one of the scholarships, you will be notified following the admission to the programme. Head to our financing pages to find out more.
3. Other scholarships and grants
There is some great news for those of you applying in the first two rounds of admissions. We will choose several applications to participate in the Eiffel scholarship scheme. This prestigious programme is provided by the French Ministry for Europe and Foreign Affairs and provides support to foreign students selected by French institutions.
The Eiffel scholarship will provide monthly stipend of €1,181 for the duration of the programme. It will cover health insurance, a round trip ticket to the school, and some cultural activities. It may also be possible to apply for some housing allowance. You will have to be admitted to the INSEAD MIM programme to be considered for this grant.
In addition, there are some further resources that you can explore. This website will equip you with a number of useful tools; provide information about transportation, social insurance, European Youth Card and some possible scholarship support.
My advice is to also do your own research to explore funding options available in your home country.
To get started, you may take a look at our list of MIM funding options by country.
4. Budgeting for life in France
Many of you will be moving to France from abroad. This may imply changing the currency you are used to and adjusting your budget. This website will provide you with information on the cost of living in France and basic budget items you will need to foresee (we will focus separately on the expenses you will incur in Singapore).
As the MIM Programme is short and intense, advance planning will be essential for success. Good luck with your application and we look forward to welcoming you on campus soon!