Funding a postgraduate degree abroad is one of the primary concerns for international applicants. Fortunately, European governments, the European Union, and private philanthropic foundations offer billions of euros annually in fully funded and partial scholarships.
These awards cover tuition fees, monthly living stipends, international flight allowances, and health insurance. Here is a definitive overview of the most prestigious Master’s scholarships available across Europe for the 2026–2027 academic year.
Flagship Fully Funded European Scholarships
1. Erasmus Mundus Joint Master Degrees (EMJMD)
The Erasmus Mundus program is funded directly by the European Union. Selected candidates study across at least two or three different European countries during their two-year degree program.
- Coverage: Full tuition waiver, comprehensive health insurance, travel allowance, and a €1,000/month living stipend for up to 24 months.
- Eligibility: Open to students worldwide holding a recognized Bachelor’s degree.
- Application Window: Opens in October and closes between December and January annually.
2. DAAD Scholarships (Germany)
The German Academic Exchange Service (DAAD) offers specialized scholarships for postgraduate courses with relevance to developing and industrializing countries (EPOS framework).
- Coverage: €934/month living stipend, full coverage of health insurance, travel allowances, and study/research subsidies.
- Eligibility: Applicants must possess a Bachelor’s degree and at least two years of relevant professional work experience.
3. Chevening Scholarships (United Kingdom)
Chevening is the UK government’s global scholarship program, funded by the Foreign, Commonwealth & Development Office (FCDO) to develop future global leaders.
- Coverage: Full university tuition fees (including high-tier universities), monthly living allowance, return economy flight tickets, and visa application fees.
- Key Condition: Recipients must return to their home country for a minimum of two years following their studies.
Key Funding Comparison
| Scholarship | Target Destination | Monthly Allowance | Tuition Coverage | Work Experience Required? |
| Erasmus Mundus | Multiple EU Countries | ~€1,000 / month | 100% Covered | No |
| DAAD EPOS | Germany | €934 / month | 100% Covered | Yes (2 Years) |
| Chevening | United Kingdom | Variable (~£1,300/mo) | 100% Covered | Yes (2 Years) |
| Holland Scholarship | Netherlands | One-time €5,000 grant | Partial Tuition |
