Archive for April/2009


Monthly Top 10 FAQ: April 2009

Written on April 30, 2009 by Joël McConnell in Monthly Top 10 | Top 10 Mensuales

Below are the answers to April’s most pressing and frequently asked questions.

Question 01: How long does it take to hear back regarding my scholarship application?

Answer 01: Generally scholarship applications are decided between 2 and 4 weeks from the time we receive a complete scholarship application.  Scholarship applications are not complete until we have all required documentation, in English or Spanish, and that you the potential student has received a confirmation from Financial Aid that your applications is complete.

Question 02: Where did the listings for the MET Fellowships, MBR Foundation and Multilingual Professionals Scholarships Go?

Answer 02: Some of the listings for scholarships available through Financial Aid were temporarily deactivated due to a glitch in the process related to the recent updating of the Financial Aid web page.  This situation has been corrected.

Question 03: Should I apply for one schoalrship, wait for a decision, and then if I am not awarded a scholarship apply for another scholarship?

Answer 03: No.  You can apply for up to 3 scholarships plus a fellowship, but once the Scholarship Committee has reviewed your case, it will not be considered again.  Be sure to take the time to apply for the best options given your profile, and apply for all scholarships at once.

Question 04: Is there a listing of Fellowship projects I can use when applying for a fellowship?

Answer 04: No.  The process works as follows: the candidate applies for a fellowship, then the Scholarship Committee decides whether or not to award a fellowships, and then the Financial Aid officer works with the various internal areas at IE to place fellows in projects where fellows are needed.

Question 05: Are IE Fellows and Fellowships the same?

Answer 05: Yes.  IE Fellows is the formal name for the program, but award recipents are referred to as fellows, and fellows complete fellowships during their program of study.

Question 06: Is the Caja Madrid loan program back up and running?

Answer 06: Yes.  But lending policies have become more stringent so we are recommending interested applicants see this Financial Aid option as a plan B.  Non-Spanish fiscal residents can only apply for up to a maximum of 30.000€.

Question 07: If I am married, does my wife/husband need to provide all the same documentation?

Answer 07: Yes, if you’re married under the shared asset regime.

Question 08: Do I need a NIE number to apply for a Caja Madrid loan?

Answer 08: Yes.  Without a Spanish residency number it is not possible to apply for a Caja Madrid loan.  In some cases it is possible to get a temporary residency number that allows for loan applications.

Question 09: How long does it take to have a loan decision for a Caja Madrid loan application?

Answer 09: It can take between 6 and 12 weeks, so apply early.

Question 10: I missed the AIESEC Scholarships Information sessions, how can I learn more about?

Answer 10: See the recording by copying and pasting the following link into a new browser: 


On 29 April we hosted two information sessions for candidates interested in the IE – AIESEC Scholarship program for the 2009-2010 academic year, and we had 29 participants who joined from various countries globally to learn more about IE’s partnership with AIESEC, about IE’s programs and about the scholarship program itself.  If you missed the sessions, feel free to watch the recording from the morning session here:  Please keep in mind that only the formal presentation is included, not the Q&A period.

If you would like to attend the next Virtual Information Session, please send an email to that includes your name, preferred email address, and the program you are interested in.  We’ll then send you a reminder email and the link to the next virtual session the day of the event.  The next session will take place:

Thursday 14 May
11h00 CET
18h00 CET 


Odette Carey recently joined IE Business School’s Master in International Management program (April 2009 intake), and was able to do so thanks to a partnership between IE Business School and the Organization of American States whereby both organizations invest in top candidates coming from the Americas, who post-program will return to their countries to contribute to activities there.  Here’s what Odette had to say about coming to IE: 

“My name is Odette Carey, and I’m from The Bahamas.  Before coming to Madrid for studies, I worked for three years as a Sales and Marketing Manager at one of the largest and most fascinating resorts in the world: Atlantis Resort & Casino.  In my capacity as Manager at Atlantis, I contributed to many successful promotional campaigns and sales driven strategies to sustain my job, and many others during this tough economic crisis.  

As tourism is one of the most important industries in The Bahamas, I’ve been privileged to have worked in a sector that for the most part has been stable – and not to mention very exciting – which is why I feel the need to protect and sustain it.  Being offered this great opportunity from IE and the Organization of American States (OAS) to attend IE in the Masters in International Management program allows me to gain the exposure and knowledge I need to become an effective leader, creating the necessary change to lead the tourism sector in The Bahamas. 

My goal after completing the Masters in International Management program is to use the international exposure gained and the professional network I am building now at IE, to inject new ideas and expand new product offerings within my country.  This award from the OAS and the IE Foundation will provide me with all the necessary tools to make this happen, for which I am very appreciative. ”

Learn more about the IE – Organization of American States scholarship program and other Financial Aid options at


Join IE Financial Aid next week, April 29, 2009 to learn more about scholarship and fellowship opportunities for AIESEC members and alumni by logging in to at one of the following times:

  1. 10h00 CET (Madrid time)
  2. 18h00 CET (Madrid time)

On the agenda will be the details of how to apply for one of the 8 scholarships we are offering for AIESECers for the 2009-2010 academic year.  The total budget for the program amounts to 100.000€.


As an IE student with a Caja Madrid account, you now have access an sms alert service that allows you to know when a charge is made to your debit or credit card, and when funds are withdrawn from your account. 

While the terms are listed below, the main value for you is peace of mind: if you are worried that someone may make an unauthorized charge to your account, or want to be sure that if for some reason you lose your card (or in the case of theft) that you are aware of transactions being made in your name, this service allows you to keep tabs on your Caja Madrid bank account.

What’s more: you can set up the alert service so that you are notified of other transactions as well such a bill payments, alerts when your bank account balance reaches a certain level, periodic account balance updates, alerts when your account has been accessed online, and many other options as well.

Language: while the service is only available in Spanish, the messages are basic and short, so even if you aren’t fluent in Spanish, this is a service that could be very valuable for you.


  1. No set up fee or monthly charge for the service.  Once maximum “free” alerts have been reached, low rate is charged on a “pay per use” basis.
  2. Maximum of 50 “free” alerts every 6 months (more or less 8 monthly, 100 SMS alerts included annually).
  3. Additional alerts over and above 50 cost just 0.15€ (again, you have 50 alerts every 6 months).
  4. When you are alerted, and if you have questions about the specific transaction, the number to call is 902.246.810 (operator assistance in Spanish) or 902.114.015 (operator assistance in English, French and German between 8h00 and 21h00).

To set up the service on your account, stop the our Caja Madrid branch located at Calle Serrano, 114 Monday-Wednesday + Friday from 08h00 to 14h00, or Thursdays from 08h00 to 14h00 and 17h00 to 19h00.  You will need to see one of the customer service representatives to set up the service.


You can get an up to date snapshot of where your Caja Madrid bank account loan is by doing the following:

If you have questions about the specific transaction, the number to call is 902.246.810 (operator assistance in Spanish) or 902.114.015 (operator assistance in English, French and German between 8h00 and 21h00).

Directions in Spanish:

  • Siga los pasos del 1 al 5 para entrar.
  • Haga clic en “07 PRÉSTAMOS” en la parte superior izquierda → simulaciones → cuadro de amortización → aceptar.

The way to go about making a bank transfer is:

  • Have your International Bank Account Number or IBAN ready.
  • Follow steps 1 to 5 to log on to your online account access.
  • Click “02 ACCOUNTS” in the top left corner.
  • Click “IBAN” in the top right corner and then “Accept”.

If you have questions about the specific transaction, the number to call is 902.246.810 (operator assistance in Spanish) or 902.114.015 (operator assistance in English, French and German between 8h00 and 21h00).

Directions in Spanish:

Con el número internacional bancario de la cuenta o IBAN en mano:

  • Siga los pasos del 1 al 5 para entrar.
  • Haga clic en “02 CUENTAS” en la parte superior izquierda
  • Haga clic en “IBAN” en la parte superior derecha y luego en “Aceptar”.

The 6-step process for accessing your Caja Madrid account online is:

  1. Go to
  2. Click”Entrar” under “Oficina Internet” in the top left corner.
  3. Click “English” in the top right corner.
  4. Enter your user code: passport or ID number (without letters).
  5. Enter your password: debit card PIN (4 digit number) click “Enter” and then on the Enter button again.
  6. You can change your password and your signature (8 digit number – code to confirm operations on line) by clicking on “14. MULTI-ACCESS”. If you change your password, this will automatically change your debit card PIN at the same time.

If you have questions about the specific transaction, the number to call is 902.246.810 (operator assistance in Spanish) or 902.114.015 (operator assistance in English, French and German between 8h00 and 21h00).

Directions in Spanish:

  1. Vaya a
  2. Haga clic en “Entrar” debajo de “Oficina Internet” en la parte superior izquierda.
  3. Haga clic en “Castellano” o “English” en la parte superior derecha.
  4. Teclee su identificador: número de DNI/ID o pasaporte (sin letras).
  5. Teclee su clave: PIN de la tarjeta de débito (número de 4 dígitos) y haga clic en “>Anotar” y luego “Entrar”.
  6. Puede cambiar su clave y su firma electrónica (número de 8 dígitos – código para confirmar operaciones on line) haciendo clic en “14. MULTIACCESO”. Si usted cambia su clave, esto hará que automáticamente se cambie el PIN de la tarjeta de débito al mismo tiempo.

If you’re an American student coming to IE and plan on funding your program with a student loan, you may want to have a read of this article which recently appeared in the Washinton Post.  Below is the link to the artile and a brief clip from the article itself.


“With the Obama administration proposing to overhaul the programs a majority of American students use to finance their college education, the student loan industry is fighting back.

The administration is calling for sweeping changes to the decades-old approach of providing federal subsides to private loan companies, arguing that the revamp will save $94 billion that can be redirected to needy borrowers and help even more people go to college. But the industry and its congressional allies are countering that it would add billions to the national debt, put thousands of industry employees out of work and provide shoddy service for borrowers.

The result of the growing confrontation will determine the way students across the country pay for college and, potentially, the fate of dozens of student lending firms…”


If you’re a Peruvian national, take 5 minutes to read this article on Financing Options for Peruvian nationals (article in Spanish), that recently was published in both the paper and online versions of El Comercio de Perú – one of the countries leading business dailies:

Useful Take-Aways:

  1. Banco del Crédito de Perú (BCP) offers up to 100% tuition loans.
  2. Banco BBVA Banco Continental also offers sizeable education loans for students coming to IE, from Peru.
  3. Get in touch with our IE Peru Office for assistance on navigating the admissions and loan process:

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