Financing Options & Scholarships

Financing Options & Scholarships

Our track records show that a master degree from HHL will provide you with exceptional career opportunities that will make your financial investment well worthwhile. However, we are aware of the fact that pursuing a master program at HHL requires serious commitment and thorough financial planning. To help making your study at HHL possible, we offer different options to finance your tuition fee and living costs.


For the best students, to cover living costs in Germany (foreigners have to show financial resources of EUR 853 per month to obtain a student visa), HHL has established several links to private sponsors, companies and governmental organizations. These close relationships will help students to finance the stay in Germany. In addition, we recommend all foreign applicants for one of our programs to contact relevant national agencies in their respective home country. A lot of foreign governments have own scholarship programs to support a stay of their students abroad.

Program-Specific HHL Scholarships

At HHL we offer various program-specific scholarships for outstanding and exceptionally driven candidates. If you are applying for one of our study programs, you may be eligible for these scholarships. We recommend to choose the one that is most appropriate for you. How to receive it? Convince us not only with your outstanding academic and professional records but also with your personality and your ambition. Please check the detailed information on the program pages:

DAAD Scholarship Database

The scholarship database of the German Academic Exchange Service (DAAD) should be one of your most important sources for your scholarship application. Please visit the website of the German Academic Exchange Service’s scholarship database, and choose your country of origin. You must apply for most programs online. The German embassies in your home country will assist you. Please make sure to meet the application deadlines. For most programs, the German government will assist you with EUR 861 per month as a Master student or EUR 1,000 per month as a doctoral student.

National Scholarship Program (Deutschlandstipendium)


All students admitted to HHL as well as enrolled HHL students. Prerequisite for the scholarship payment is an enrollment at HHL.

About the Scholarship

Launched in 2011, the National Scholarship Program supports highly motivated excellent students. With this initiative the German federal government aims at establishing a new culture of giving and supporting education by companies, individuals and foundations. The initial amount of the scholarship is EUR 300 per month. The scholarship is financed by public funds (50 %) and private funds raised by HHL sponsors (50 %). This initial amount can be increased by the private sponsor.
The annual number of scholarships to be awarded will be published by the Director International Relations of HHL. In 2020, HHL can support 11 students.
The National Scholarship Program started at the beginning of the fall semester 2011 and continues on a semester basis. The scholarship requires a formal application.

Please add to the application form:
  • supporting documents to the additional questions in the form
  • updated CV

Application period is June 1-30 for the fall term (September) and February 1-28 for the spring term (April).
The duration of a scholarship is 12 months. The scholarship is renewable on application.

Selection Committee

The scholarships are awarded by a selection committee. This committee consists of the Director and the Manager International Relations, the Manager Corporate Relations ans a professor

Selection Criteria

  • A) Academic performance based on a competitive GMAT score (past scholarship holders often had a score of around 650)
  • B) Previous special successes, awards and prizes
  • C) Non-university or non-professional commitment such as voluntary work, community, social, university or political involvement
  • D) Special personal or family circumstances (e.g. sickness, caring for relatives)

Failure to meet the application criterion A) is an exclusion criterion, criteria B) to D) will be considered by the selection committee, provided they are adequately demonstrated by the candidate in German or English. For accompanying documents that are not written in German or English a certified translation must be submitted together with the original version. The applicant will be informed in writing about the scholarship decision.

Exclusion criterion for granting a scholarship is performance-based financial support from a domestic or foreign institution in case it exceeds a monthly average of EUR 30 per semester.

Academic Prerequisites

By the end of the first semester of the funding period HHL reviews the academic results of the scholarship holder for the continuation of the scholarship. The requirements are fulfilled with a GPA of 2.0.


Together with the financial award, scholarship holders receive a certificate stating the name of the scholarship, its prerequisites, its amount and duration. The certificate also includes the names and logos of the donors.


Within the award period, the scholarship will be paid also during a semester abroad, in case the academic results are transferable to HHL. The scholarship will not be paid out during a period of leave. The scholarship expires at the end of the granting period or in the month of the scholarship holder’s

  • last examination
  • withdrawal from his studies
  • expellation

Personal Data

Scholarship applicants agree that their personal data will be transmitted to the public donors for statistical purposes and for a review of the exclusion criteria. Furthermore, applicants accept that they may be asked by HHL to appear in press and publicity in connection with the scholarship. Scholarship holders have to notify HHL immediately about changes that are relevant to the approval of the scholarship.
Any violation of this requirement or in the case of determining a non-prolongation of the scholarship after the first semester will result in a revoke of the scholarship to the end of the calendar month, with a notification of a six week period for repayment of unjustified amounts received. In the case of an unjustified double funding, the scholarship will be revoked retroactively with an immediate repayment period.
There is no legal claim to the award of a scholarship as described above.

Prospective students should apply for the scholarship via regular mail. Current students can submit the application directly to the International Office.

Contact for Students

Julia Brodacki
Manager International Relations
Jahnallee 59
04109 Leipzig – Germany

Contact for Companies

Martina Beermann
T +49 341 9851-887


Erasmus+ is the program for education youth and sports of the European Union. Erasmus+ replaces seven programs with one. In order to achieve its objectives, the Erasmus+ Program implements the following actions:


The Program has an overall indicative financial envelope of EUR 14.774 billion for the seven years (2014-2020). More than 4 million young people, students and adults will gain experience and skills by studying, training or volunteering abroad through Erasmus+. Education, training and non-formal youth learning are keys to creating jobs and improving Europe’s competitiveness. That’s why Erasmus+ will make a key contribution to addressing these challenges. Information about Erasmus+ you may find on the Website of the European Commission.

Grants for most mobility programs and for strategic partnerships are given by national agencies. This is for 33 participating countries (28 EU countries, Iceland, Liechtenstein, Macedonia, Norway, Turkey). In Germany this national agency is the German Academic Exchange Service (DAAD)
Within the frame of Erasmus+ at HHL grants are given for the following mobilities:

Each institution participating in Erasmus+ 2014/20 must have a valid Charta for Higher Education (ECHE) This ECHE is awarded by the European Commission. It shows proof that the institution fulfills all prerequisites for a successful participation in Erasmus+

According to the guidelines of the EU, HHL has to publish this ECHE on the Internet (see links below).

Liability clause
„The project is financed with the support of the European Union. Liabilities for the content of this webpage are solely under responsibility of HHL, the EU Commission will not take liabilities for the further use of this content.“

Deutscher Akademischer Austauschdienst
Nationale Agentur für EU-Hochschulzusammenarbeit
Kennedyallee 50
53115 Bonn
Tel.: +49 (228) 882-8877
Fax: +49 (228) 882-555

Contact at HHL
Julia Brodacki
Manager International Relations
Phone: +49 341 985 1746

Student Loans


German applicants for the M.Sc. Program

Depending on financial needs there is the opportunity to apply for federal financial support according to Bundesausbildungsförderungsgesetz (BaföG). The maximum amount is currently EUR 853 per month given as a combination of grants and loans.

Studentenwerk Leipzig
Amt für Ausbildungsförderung
Goethestraße 6
04109 Leipzig
T +49 341 96595

Brain Capital

Applicants for all HHL programs

About the Loan
The Generation Contract of HHL Leipzig Graduate School of Management and Brain Capital is a flexible model to finance your studies at HHL.
This concept is a risk free and easy way of financing your time at HHL.
While you focus on your studies, the HHL Bildungsfonds pays your tuition fees. After your graduation you have a high degree of freedom and flexibility.

Brain Capital GmbH
Gordon Kirstätter
Heerstraße 31
56179 Vallendar
Tel: (0261) 450 934 950

Career Concept Education Fund

German applicants, all HHL programs

About the Loan
Students admitted into one of HHL’s programs may apply for the education fund offered by CareerConcept AG (up to EUR 30,000). After graduation the student has to pay back a fixed percentage (typically 4-10%) of his/her income over a period of 48-96 months.


  • Unlike a loan, students do not have to pay back a fixed amount of interest and redemption.
  • The concept considers personal income situation and individually calculates personal financing options.
  • The payback does not begin until the student has secured a job.

Deutsche Bank

German applicants (foreigners can be considered after two years of living in Germany, they must have an unlimited residence permit), all HHL programs

About the Loan
The Deutsche Bank offers student loans of up to EUR 800 per month (up to 60 months, max. EUR 30,000). Repayment starts 3 months (12 months at the latest) after graduation. Applicants with an above average Bachelor degree benefit from a reduced interest rate.

Deutsche Bildung


Applicants for all HHL programs (Candidates from Germany and candidates with unlimited residence permit)

About the Loan

The Deutsche Bildung offers you a loan of up to EUR 25.000 for a Master´s degree, up to EUR 25.000 for a Ph.D. and up to EUR 30.000 for an MBA with flexible payments as needed: monthly, biannual or one-off payments or a combination of all. The income-linked repayment only starts when you have successfully integrated into working life.

For periods such as job hunting, further studies or maternity leave, the repayment is deferred. In case of long-term unemployment or occupational disability, the repayment is offset. Deutsche Bildung offers you additional training opportunities and a helpful network.


Deutsche Bildung AG
Weißfrauenstraße 12-16
D-60311 Frankfurt a.M.
Telefon: +49 (0)69 920 39 45 0


Deutsche Bildung Studienfinanzierung (in German)

FIDERH loan program for Mexican students

FIDERH (Fund of Development for Human Resources) offers affordable loans to Mexican students admitted to HHL

Admitted HHL students, all programs

About the loan program
The loan is offered for studies of up to 24 months in duration with the maximum amount of 200 000 MXN. The loan amount may be used for tuition, living expenses and medical insurance.


  • Applicable to study programs already under way
  • No administrative costs
  • No payments and no interest during the studies
  • Students receive the resources in foreign currency and pay back in Mexican pesos
  • Start of repayment one year after graduation
  • 10 year repayment period
  • Discount in interest payments if students pay on time and return to work in Mexico
  • Interest payments are foregone if students return to work at a Mexican university as a researcher or professor

For more information and to apply for the loan, please visit the official website.

Juno Graduate Student Loans

Eligibility: Admitted students into any of the HHL Masters or MBA programs (including full-time and part-time programs), who are either US citizens or international students with a valid US cosigner.

What is Juno?
Juno (formerly LeverEdge) is a collective bargaining organization for student loans. They negotiate with lenders to provide a deal available for free to U.S. Citizens and International Students with a valid U.S. cosigner. They offer a “best rate guarantee” for everyone taking their deal.

Find out more about Juno

KfW Bankengruppe

German applicants, all HHL programs

About the Loan
The KfW Bankengruppe offers student loans at reduced interest rates of up to EUR 300 per month (max. EUR 7,200). The payback begins 4 years after the payment started.

Ontario Student Assistance Program (OSAP) for Canadian applicants

HHL is one of the few German universities approved by OSAP. OSAP provides a mix of loans and grants for your master program at HHL


  • Canadian citizens or permanent residents of Canada in all HHL programs

About OSAP The Ontario Student Assistance Program (OSAP) offers two kinds of money:

  • grants: money you don’t have to pay back
  • a student loan you need to repay

Both the Ontario government and federal government provide this money. Through one OSAP application, you have access to a mix of different financial aid programs, depending on your circumstances.

To estimate the amount you may eligible for, please use the OSAP amount estimator online

For more information and to apply, please visit the official website.

US Financial Aid

Applicants from the U.S. (U.S. citizens), Full-Time MSc, Part-time MSc (Leipzig), Full-time MBA, Part-time MBA (Leipzig), Doctoral program.

Not eligible

  • MBA- and MSc- options in Cologne/Munich: 34 CFR §600.54(c) “…an eligible foreign institution may not enter into a written arrangement under which an ineligible institution or organization provides any portion of one or more of the eligible foreign institution’s programs.”

About direct loans
Direct loans are low-interest student loans offered by the U.S. Department of Education rather than a bank or other financial institution.

With Direct Loans, you

  • can finance the full tuition fee at HHL as well as living expenses throughout your studies.
  • borrow directly from the U.S. federal government and have a single contact – the Direct Loan Servicing Center – for everything related to the repayment of your loans, even if you receive Direct Loans at different schools.
  • have online access to your Direct Loan Account Information 24/7.
  • can choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.

Please read the following pages carefully:

HHL’s Federal School Code is G38183 (you will need it to file your FAFSA – Free Application for Federal Student Aid).

Required Consumer Information

_Institutional and Financial Assistance Information

_Basic financial aid information

Frank Hoffmann
Director International Relations
T +49 341 985-1747
F +49 341 985-1810

Prodigy Finance

HHL offers access to the following loan program, as advertised by the provider below:

Prodigy Finance

Prodigy Finance is revolutionizing student finance. The innovative model offers alumni-funded loans to international students at the world’s top business schools, including HHL.

While banks base their loan decisions on historical salaries, Prodigy looks to the future. The loan affordability is determined by the assessment of applicants’ future earning potential (based on the past achievements of similar graduates).

The model is borderless, offering competitive rates to over 150 nationalities of students.


Accepted students into the Master’s in Management and Full-time MBA are eligible to apply for a loan with Prodigy.


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

Why choose Prodigy?

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

Prodigy Finance Ltd is incorporated in the United Kingdom (Company Number 05912562) and registered with the Office of the Information Commissioner (Reg. No. Z9851854). Prodigy Finance Ltd is authorized and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713. Prodigy’s registered address is Palladium House 1-4 Argyll Street, London, W1F 7L

US Department of Veterans Affairs

Applicants from the U.S. (U.S. citizens) with eligibility to use educational assistance of the Department of Veterans Affairs.

Educational assistance is offered under the following benefit programs:

  • Post-9/11 GI Bill chapter 33 of title 38, U.S. Code
  • Montgomery GI Bill (MGIB) chapter 30 of title 38, U.S .Code
  • Montgomery GI Bill -Selected Reserve (MGIB-SRl chapter 1606 of title 10, U.S. Code
  • Reserve Educational Assistance Program (REAP) chapter 1607 of title 10, U.S. Code
  • Post-Vietnam Era Veterans’ Educational Assistance Program (VEAP) chapter 32 of title 38, U.S. Code, or section 903 of Public Law 96-342

Please apply online or use the application form VA 22-1990.

Responsible for foreign schools is:
VA Regional Processing Office
130 South Elmwood Avenue
Buffalo, NY 14202

Frank Hoffmann
Director International Relations
T +49 341 9851-747


In Germany, 13 organizations offer scholarships for talented students. The target groups of the giving organizations differ with regard to their religious background or political and social mindset.

Please check the web pages of the foundations for application dates and procedures. Apart from a direct individual application, the Department of Student Affairs or an HHL professor (“Vertrauensdozent”) can suggest students for a scholarship.

Detailed information on the foundations (in German)