Alternative Funding

Beca del Presidente de la República 

The Peruvian government offers a number of scholarships every year. This option is available only for Peruvian nationals who have been living in Peru for a year prior to the application. The scholarship covers full tuition costs, living expenses, and airplane tickets. In addition to that, it includes a yearly stipend for study materials, and a one-time allowance for insurance.

For la Beca del Presidente de la República, you will need an acceptance letter from the University of Glasgow. Therefore, you must first apply to the program and once you have been accepted (as a self-funded student) you may put in an application for the scholarship. The application is done via PRONABEC web portal.

Scholarship requirements, priority areas, monthly allowance, and application deadlines vary each year according to budget availability. For further information visit PRONABEC website under “Becas Pronabec” section.

www.pronabec.gob.pe

COLFUTURO 

An option for Colombians to fund their international postgraduate studies is COLFUTURO. It is an entity with public and private resources that offers a loan-scholarship. The loan can be up to 25,000 USD per year in a two-year program (total maximum 50,000 USD). This budget can be used to cover tuition fees, living expenses, flight tickets, books, or other expenses. The management of the budget is completely under the responsibility of the beneficiary. In fact, the loan can be for less amount of money as well.

It is not mandatory for Colombians to return to the country, but when they return 40% of the loan will be condoned (here it becomes a scholarship). With some other conditions (i.e. working outside of Bogota, with the government, or in education), the scholarship can cover up to 80%; having to pay only the remaining 20% with an interest rate. Additionally, COLFUTURO has more than 70 agreements in which its beneficiaries can access to extra discounts. For the University of Glasgow, a 20% discount on the tuition fee is offered for the first year.

Applications are made once per year only. It is not necessary to have a letter of acceptance from the university in order to apply, only proof that the application for the program is in process. The requirements are to be Colombian, have a Bachelor’s degree, and proficiency in a second language. There, judges will look into the GPA obtained during undergraduate studies, final GPA ranking among same cohort, the program, and university chosen to undertake postgraduate studies (through international rankings). An essay will also be required. The best applicants will be given the loan-scholarship according to COLFUTURO’s annual budget. In 2017 there were 1280 beneficiaries.

www.colfuturo.org