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Study loans and other sources of funding

Financing options for ESMT students

Study loans

An ESMT degree is an excellent investment into your future. Nevertheless, financing your studies is not always an easy endeavor. To cover the gap between potential scholarships and savings, and the cost of attendance, ESMT Berlin offers access to the loan programs listed below.

  • Prodigy Finance


    Accepted students of the

    • Master in Global Management 
    • Master in Analytics and Artificial Intelligence 
    • Full-time MBA
    • Part-time MBA
    • Executive MBA


    What is Prodigy?

    Prodigy Finance is revolutionizing student finance. The innovative model offers alumni-funded loans to international students at the world’s top business schools, including ESMT. While banks base their loan decisions on historical salaries, Prodigy looks to the future. They assess applicants’ future earning potential (based on the past achievements of similar graduates) to determine loan affordability.

    Prodigy’s model is borderless, allowing them to offer competitive rates to over 150 nationalities of students.


    Why choose Prodigy?

    • 150 nationalities covered
    • Competitive interest rates
    • No collateral or guarantees required
    • Easy online process
    • No repayments while you study



    Interest rates vary depending on individual applicants. The representative APR is 8.16%. See more detail about the terms and conditions, and how to apply for a loan on Prodigy’s website.

    For additional information, download the latest brochure in the download section below.

  • Brain Capital


    Students who are accepted into the

    • Full-time MBA
    • Part-time MBA
    • Executive MBA
    • EU citizens, including residents from UK, Iceland, Liechtenstein, Norway, Switzerland, Canada, USA, Australia, and New Zealand

    • Admission letter from the university

    • Highschool GPA of at least 2.9 (German Scala)

    The selection process and discussion of the funding agreement are conducted by Brain Capital GmbH.


    What is Brain Capital?

    Income Share Agreement by Brain Capital

    The ESMT Education Fund is an Income Share Agreement (ISA) model. Brain Capital GmbH has been offering this alternative form of financing since 2005.

    The students can decide between 100% coverage of tuition fees or partial financing, which gives them the freedom and flexibility to focus on their studies without having the financial burden of tuition fees.

    The funding can be combined with BaföG and other financing options.

    Income-based repayments are only made after graduation and only if a minimum income is reached. The income-based repayments ensure that graduates are only charged within the limits of their financial capacity.

    Due to its principle of solidarity: The repayments made by students who have graduated and are earning above the minimum income, enable new students to finance their education. This cycle creates a safe funding option for new students at their university.


    STUDY FIRST – PAY LATER. How does the Income Share Agreement work:

    • Students sign a financing contract with Brain Capital for their tuition fees. Brain Capital uses its education funds to pay the tuition directly to the university.

    • After graduation and only when a minimum income of at least 30,000 € has been reached, beneficiaries start to pay a fixed percentage of their income for 10 payment years.


    How to apply?

    Please visit their website or download the flyer in the Downloads section below for more information. To apply or if you have questions, you can contact Brain Capital directly via email.

    Please feel free to contact ESMT, if you have any specific questions.

  • Juno Graduate Student Loans


    Accepted students of the

    • Master in Management
    • Full-time MBA
    • Part-time MBA
    • Global Online MBA
    • Executive MBA

    In addition, you must fulfill the following requirements:

    • You are U.S. citizen or a non-US citizen with a U.S. citizen as a cosigner

    What is Juno?

    Juno (formerly LeverEdge) is a collective bargaining organization for student loans. They negotiate exclusive deals with their lending partners to provide low rates or cash back options to U.S. citizens or international students with a valid U.S. citizen cosigner. Juno offers a "best rate guarantee" for borrowers. Check the latest rates.

  • Deutsche Bildung Student Funding


    Accepted students into the

    • Master in Management
    • Full-time MBA
    • Part-time MBA
    • Global Online MBA
    • Executive MBA

    In addition, you must fulfill the following requirements:

    • You have obtained your university entrance qualification in Germany or Austria, or at a German school abroad.
    • You are a German citizen or you have a permanent residence permit.
    • You (plan to) study at a research university (a state-recognized university in Germany or a comparable university abroad).
    • You do not have a negative credit report (SCHUFA).
    • You are motivated to study and convinced that you have chosen the right subject.


    What is Deutsche Bildung Student Funding?

    Deutsche Bildung Student Funding is the biggest student financing offer organized by the private sector of Germany.

    As a social business since 2007, Deutsche Bildung supports thousands of German students with financing and through our extra-curricular Academy.

    • Since 2013, Deutsche Bildung is top ranked in Germany.
    • Monthly, single or returning payments (in total up to €15,000 for a Bachelor degree, up to €25,000 for a Master's degree and up to €30,000 for an MBA / Ph.D.) guarantee financing for students of almost all disciplines in Germany and abroad.
    • The extra-curricular Academy focuses on the development of personal skills and professional competencies. A broad network of contacts to companies, universities and NGOs adds value to all granted students.
    • The repayment is income-related: granted graduates pay back a fixed amount of their future income for a certain period of time when they have started their first employment. By this, students are protected from debts and also support following future students. This assures a sustainable model of student financing.

    The online-application is possible throughout the whole year via


    How to apply?

    You can simply apply online and follow the step-by-step application process on

    Please have the following documents at hand:

    • Two-sided copy of your ID or residence permit for Germany
    • Curriculum Vitae (CV)
    • Conditional offer from your future university or a certificate of enrollment if you are already studying
    • Current transcript of records if you are already studying (grades, certificates, intermediate certificates or certificate of a completed Bachelor)
    • Copy of your university entrance qualification
    • Internship certificates (if available)
    • Examination regulations (list of all modules and exams that you have to complete in your studies)



    There is no application deadline. You can apply anytime during your studies or up until three months before the beginning of your studies.

Tax deductions

Many countries allow tuition for higher education, and related costs, to count as tax-deductible expenses. You can learn more about the requirements in Germany, for example, here. Please check with your tax advisor to assess your personal situation.

Possible deductions might include:

  • Tuition fees

  • Travel required by the program

  • Temporary housing expenses

  • Cost of prep courses - English, special courses, etc.

Other sources of funding

We also encourage you to explore further financing possibilities in your home country during the application process.

Often your home country or region has opportunities for loans and scholarships to complete an accredited program abroad. 

Contacting your local education ministry or your country or region's embassy in Berlin may provide further scholarship and loan options.

As a start we have have gathered a non-exhaustive list of funding and financing options that  that previous ESMT students have used. We are continuously expanding the list and always welcome suggestions.

Please check with the respective financing option directly if it applies to the program you are applying to or have already been accepted for.

Loans and scholarships by region

  • All countries and regions

    The German Academic Exchange Service (DAAD) offers a wide range of support instruments for participants from all over the world to study in Germany. They offer a very extensive database of available financial aid for both foreign and German students. Using the Scholarship Database search filter you will find a list of applicable scholarships for you.


    Award amounts and eligibility varies by country. Please visit or contact your national DAAD office for more information.

  • Brazil

    Fundação Estudar is an educational resource that offers a limited number of graduate fellowships for Brazilian business students each year. Deadlines are in March, and scholarships are eligible for both applicants and current students. Please review the foundation's website for more information.

  • Colombia

    COLFUTURO is a private financial aid foundation (scholarships and loans) for Colombians pursuing a postgraduate degree abroad. With funding from both the Colombian government as well as leading Colombian companies, they have successfully helped over 9,000 Colombian students fulfill their education goals. COLFUTURO collaborates with the DAAD offering financial aid to students enrolled in a German university. Further information is available in this document.

  • Germany

    German applicants to ESMT may qualify for student loans from German banks. Many of these loans offer special interest rates and payment terms, depending on your application and qualifications. We encourage you to check with your local bank branch for more information.

  • India

    • Credila is a loan program for Indian citizens pursuing graduate studies abroad. Students apply for a minimum of 100,000 INR on their own without collateral or up to the maximum cost of attendance (as defined by ESMT) with a consignor that is an Indian citizen with an Indian bank account.
    • Bank of India’s educational loans have been a financing source for former ESMT students.
  • Mexico

    Banco de Mexico – FIDERH: The Fund for Development of Human Resources (FIDERH) is a federal trust managed by the Central Bank of Mexico, which has been helping to finance graduate studies for over 40 years. ESMT is an official partner, and they offer very reasonable loans for Mexican students pursuing studies abroad. The requirements are simple: if you have been accepted into our program, you are eligible.



    ESMT Berlin offers a 20% tuition reduction for candidates of the Full-time MBA program who are supported by Fundación Mexicana para la Educación, la Tecnología y la Ciencia (FUNED).

    The minimum requirements are:

    • Mexican nationality
    • A minimum GPA of 8.0 (out of 10) in the first degree AND a first Mexican "Título" degree
    • An official Certificate of Admission by ESMT Berlin
    • An application to FUNED no later than 90 days before leaving to study the MBA


    Contact FUNED directly to apply for this scholarship.

  • Peru

    Banco de Credito de Peru offers educational loans to Peruvian students of up US$30,000.

  • Russia

    Rosinterbank provides a loan scheme for MBA studies to Russians at competitive interest rates. ESMT’s admissions team will be glad to provide accepted students with a contact person at the bank.

  • Spain

    Various financial institutions will consider loans for students studying in the EU. The following is a list of banks which offer educational loan programs.


  • Taiwan, China

    The Ministry of Education administers a loan program with the Central Bank of Taiwan and seven other Taiwanese banks.

  • United States

    US Department of Education Loans Program

    ESMT participates in the US Department of Education direct loan scheme, which is part of the Title IV loan programs. ESMT students who are US citizens, citizens of the Freely Associated States, or belong to certain categories of non-citizens may be eligible to receive Title IV funds.

    Please note that not all programs at ESMT are eligible for the US federal financial aid program. Only students admitted to all Master programs, Full-Time MBA, or Executive MBA programs are eligible to apply.

    Participants in ESMT’s non-degree programs and students admitted to the Part-time, Global Online MBA, and Ph.D. programs are, unfortunately, NOT eligible for US federal financial aid.

    Please note that most US students are eligible for Title IV funding, and this funding is usually much cheaper than private loan options.

    Interested students should inform themselves about the loan program and relevant policies by reading our US Financial Aid Information PDF, as well as the Consumer Information provided below. They should then inform ESMT’s Student Services Office that they plan to apply for federal loans via the following address:

    To ensure the funding is available when the program starts, the application deadline for students applying for US financial aid is at least three months prior to program's start. Find more information about US federal student loans here.

    Private loans are available for American students at the students' preferred banking institution.

    Consumer Information

    Data security and privacy of student records

    Students’ rights under the General Data Protection Regulation (GDPR) are outlined on ESMT’s Data privacy page. In order to process your loan application and comply with US regulations, the Student Services Office will request personal data from you. ESMT will hold any sensitive data that you submit to us in compliance with the GDPR and US federal regulations.

    If you have a complaint about how the Student Services Office has handled your data, you have the right to file a complaint with the US Department of Education, although it would be preferable for you to contact ESMT first so we can discuss the problem with you and try to find an acceptable resolution.

    US Financial Aid Information Sheet

    This document contains the following information:

    • Terms and conditions of the US Department of Education’s Title IV loan program at ESMT
    • Criteria for determining eligibility and award amounts
    • Procedures for applying for Title IV funding, changing loan amount, or cancelling a loan request
    • Rights and responsibilities of Title IV funding recipients
    • Repayment options and obligations
    • Information about disbursement of funds
    • ESMT’s Satisfactory Academic Progress (SAP) Policy
    • ESMT’s Title IV Return (R2T4) Policy
    • Institutional refund policy

    Information for students with disabilities

    Information for students with disabilities can be found here.

    Price of attendance

    Tuition costs can be found on the relevant program pages. Estimated costs of attendance can be found on p. 16 of ESMT’s Student Handbook.

    Academic program information

    All relevant academic information can be found on the respective Master, MBA, or EMBA program pages.

    Code of Conduct for education loans

    Agents at ESMT dealing with private education loans and the US Loans are prohibited from:

    • revenue-sharing arrangements with any lender;
    • receiving gifts from a lender, a guarantor, or a loan servicer;
    • contracting arrangements providing financial benefit from any lender or affiliate of a lender;
    • directing borrowers to particular lenders* or refusing or delaying loan certifications;
    • offers of funds for private loans;
    • call center or financial aid office staffing assistance;
    • advisory board compensation.

    Anyone at ESMT with responsibility for US loans must review this code at least once per year.

    * If you are applying for a private US student loan, ESMT will work with whatever loan provider you decide to use, if they are willing to work with us. None of the private loan providers listed on our websites are preferred lenders, and ESMT has no preferred lender agreements.