Posts Tagged ‘financial aid#8217;


Euronews: Master in Management and Financial Aid.

Written on December 4, 2012 by Joël McConnell in Global News on Financial Aid

MBA degrees have historically gotten all the attention, but Master in Management is a degree designed for a more junior profile who wants a postgraduate degree in manangement. Euronews correspondent Maha Barada interviews Dr. Martin Boehm, Associate Dean of Programs at IE Business School, on this degree option and how admitted candidates can fund their program.  See the full interview here or click on the image below.


We’ve been getting a lot of questions lately about payment schedules, payment processing and financial assistance and so Financial Aid wanted to clarify which departments are responsible for which aspects of your tuition payment responsibilities at IE.  This information is useful for admitted candidates to an IE master degree program.

Admissions Department: Payment Schedule and Admissions Contract.

The Admissions Department at IE is responsible not only for selecting the best candidates and offering them admissions to an IE degree program, they are also responsible for formalizing the enrollment process via the Admissions Contract.  As the payment schedule is a component of the Admissions Contract, setting your payment schedule is something you need to discuss with the Admissions Department.  Financial Aid does not handle tuition payment scheduling.

Financial Aid Department: Processing Applications for Financial Assistance and Awarding Assistance to Degree Candidates.

Financial Aid receives applications for scholarships, fellowships and student loans, and decides which admitted candidates receive assistance from IE directly.  Financial Aid also manages all national and international agreements with program co-sponsors.  Financial Aid does not handle payment schedules and/or payment processing issues.

Administration Department: Payment Processing Issues.

Once a student has been admitted to their program, have had their financial assistance request processed and signed their admissions contract, any subsequent payment issue needs to be handled by the Administration Department.  Students who are going to have a delay in the sending of payment are highly recommended to proactively contact the Administration Department.  Late payments are subject to penalty.  Financial Aid does not handle payment processing issues of any kind, including the Place Reservation payment of 5.000€ and the IE Foundation Contribution of 1.200€.


As an admitted degree candidate at IE, you’ll likely want to set up a bank account ahead of your arrival so that you have funds ready and waiting upon arrival.  Having your bank account ready and with a positive balance upon touchdown at Barajas means that you will more quickly be able to sign an apartment lease, get gym memberships, make that necessary trip to IKEA…  However do keep the following policy in mind:


IE Financial Aid has banks it works directly with, but we can only support students who open their bank accounts directly through our department.  If you open an account through a third party service provider you do so at your own risk, and IE Financial Aid will not be able to help you should there arrise a problem with your account or bank transfers.

We strongly recommend students do not use these third party service providers, and that they instead open their accounts through our central Financial Aid service. If there are problems related to funds transfer not being received, unpaid fees or other issues, IE Financial Aid will not support students who have not opened their account through IE Financial Aid.

For more information, contact us at


Nexos Magazine es la revista en español que todos los viajeros de vuelos American Airlines leen, y en la edición de Agosto-Septiembre 2012 el director del departamento de Financial Aid de IE, Joël McConnell, sale como experto sobre temas de como financiar sus estudios de MBA.  Otros expertos que salen en el artículo incluye José Antonio Cruzado de QS y Jaime Contreras de América Economía.

Para ver el artículo pasar a la página 46 de la revista Nexos, en su formato digital dando click aquí.


If you are a Master degree candidate currently in the admissions process, or a candidate that has been admitted and is thinking of applying for financial assistance from IE, please keep in mind that IE Financial Aid will be open daily from 8h30 to 20h30 CET (Madrid local time), Monday to Friday, for the entire month of August.  During this period, in addition to being able to call, email or stop by the Financial Aid Office in Maria de Molina, 11, we’ll also be processing scholarship and fellowship applications as pero our usual bi-weekly basis. We’ll also be working with candidates who’ve applied for a loan to process their loan applications.

Important reminder: If you are planning on applying for a loan from one of IE’s banking partners, the deadline for application is 30 July, 2012.  No late loan applications will be accepted.

If you are an Bachelor degree candidate please note all selection rounds have now been completed and we’ll will not be accepting any new scholarship applications for the 2012-2013 academic year.

IE Financial Aid will continue to work with outside funding organizations as well during the month of August, so if you are applying for a loan through an organization such as Sallie Mae, your application will be processed as usual.

For more information on Financial Aid, make sure to check the web site at


Recently during a market development trip to Ukraine, we met with several high potential candidates to discuss their profiles, motivations in choosing IE Business School and how they planned to fund their studies.  We met with 17 candidates in total, and most of the candidates we met with were very well prepared, and had a very clear financial plan in place.

As part of our activities in Ukraine we worked with MBA Strategy, a local firm that focuses on helping top candidates join elite international schools, to interact with top candidates in Kiev.  We also recorded an interview with them, and it’s now available on YouTube.  To see the video, click here.


Como a menudo nos piden ayuda sobre cuestiones relacionadas con el procesamiento de pagos, con este post queremos aclarar la relación entre el estudiante, la Oficina de Ayuda Financiera y el Departamento de Administración.

¿Quién hace qué?

1)      El estudiante: se relaciona con la Oficina de Ayuda Financiera antes de comenzar el curso para tratar temas relacionados con la financiación del programa, ya sea mediante becas, becas de colaboración o fellowships o préstamos. Los estudiantes deben disponer de un plan de financiación antes de empezar el curso, de ahí que la Oficina de Ayuda Financiera les sirva de apoyo siempre antes del comienzo del mismo. Mientras, para cuestiones de pagos (de matrícula u otros asociados al programa seleccionado), los estudiantes deberán dirigirse al Departamento de Administración.

2)      La Oficina de Ayuda Financiera: guía a los estudiantes a la hora de financiarse el curso mediante becas, fellowships o préstamos según sea necesario. Asimismo, desde la Oficina tramitamos todas las solicitudes de becas proporcionadas por la Fundación IE (incluidas las becas de colaboración), así como los préstamos ofrecidos por entidades colaboradoras de IE, además de gestionar la apertura de cuentas bancarias antes de la llegada del estudiante a Madrid. La dirección de contacto de la Oficina de Ayuda Financiera es

3)      El Departamento de Administración: es el encargado de gestionar los pagos realizados por el estudiante, incluidos los pagos de matrícula, la donación a la Fundación IE, los originados por la contratación de la Beyond Borders Experience u otros relativos al programa cursado. Para cualquier consulta sobre pagos (como pagos pendientes o el envío de un comprobante de pago) el estudiante debe contactar con el Departamento de Administración. También deberá dirigirse a este departamento si quisiera notificar un retraso en el pago con respecto a las fechas reflejadas en el contrato de matrícula. La dirección de contacto del Departamento de Administración es

Conclusión: la Oficina de Ayuda Financiera presta sus servicios antes del inicio del curso y en todo lo concerniente a becas, fellowships o préstamos, mientras que los estudiantes deberán recurrir directamente al Departamento de Administración una vez comenzado el programa y para cualquier asunto relacionado con la tramitación de pagos.


IE Financial Aid helps students by ensuring they have a bank account ready for use as soon as they get to Madrid, and now we’ve expanded the options for IE students.  Below you will find links to the full information regarding the bank accounts available through our financial partner Banca March.

Banca March Student Account (Click here for English document)
Banca March Student Account (Click here for Spanish document)

To open an account, simply fill in and send us the account application form (download it here), send us a copy of the photo page in your passport and a copy of your Admissions letter.



Written on March 2, 2009 by Joël McConnell in Scholarships | Becas

To apply for a scholarship, candidates must have begun the admission process for an IE Business School program, and scholarships will only be awarded to candidates admitted to a master program. Also, the Scholarship Committee will grant a maximum of one scholarship per applicant, and applicants can only apply for up to three different scholarships.

IE Foundation Scholarships

The Instituto de Empresa (IE) Foundation facilitates access to education provided by IE Business School to students with extraordinary merits and proven economic need for said scholarship. There are several types of scholarships, each with specific characteristics and application deadlines.

Additionally IE Business School awards scholarships to students admitted to a master program through agreements with various institutions. The management and definition of the process and selection criteria is made by each respective institution and the conditions of these agreements may vary over time.

Outside Organization Scholarships

In addition to Instituto de Empresa (IE) Foundation scholarships and agreements, there are other scholarship opportunities for postgraduate studies. On our website you will find a selection of public Institutions, transnational organizations, foundations or other private institutions whose aim is to promote and support management education.

All applications for scholarships sponsored by the IE Foundation should be submitted through the following email address:, while outside organization scholarships should be submitted directly to the sponsoring organization.

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