Searching for the best master’s scholarships? This guide highlights fully funded, merit-based scholarships worldwide, helping high-achieving students find financial support to pursue their global education dreams and advance their careers.
Earning a master’s degree can transform your career, but financing it can be challenging. Fortunately, some of the world’s top universities and organizations offer merit-based scholarship awards to exceptional students. These scholarships for graduate students recognize academic excellence, leadership potential, and professional achievements.
Merit-based scholarships are ideal for students with a strong academic record, extracurricular interests, and career aspirations that align with global leadership and innovation. Many scholarships also require candidates to demonstrate social impact or contributions to their field.
This guide explores top master’s scholarships, their eligibility criteria, and how to maximize your chances of securing financial aid.
Pursuing a master’s degree abroad can be an impactful experience, but tuition and living expenses can be a significant barrier. Fully funded, merit-based scholarships help exceptional students by covering these costs, enabling them to focus on their academic and leadership pursuits without financial worries. These scholarship opportunities also offer networking, mentorship, and career development support to help scholars thrive in their chosen fields.
The Erasmus Mundus Joint Master’s Degree funds international students who wish to study in European universities. It covers tuition, travel expenses, and a generous living stipend.
This program is perfect for students seeking diverse academic experiences and is available across multiple European institutions. Funded by the European Union, Erasmus+ is an international network of peers and professionals. Scholars benefit from multicultural learning environments, exposure to different education systems, and enhanced career opportunities through the program’s extensive industry and academic partnerships.
The Vanier Canada Graduate Scholarships support international students with outstanding academic achievements pursuing research-based master’s or PhD programs in Canada.
Vanier scholars receive mentorship, research funding, and financial assistance, making it one of Canada’s most esteemed academic awards. In addition to covering tuition and living expenses, the program emphasizes leadership development and cutting-edge research, equipping scholars with the skills to drive innovation in their respective fields.
The Australia Awards Scholarships fully cover tuition, travel, and living expenses for students from 55 eligible developing countries.
These scholarships aim to develop graduates who will drive economic and social progress in their home countries by providing them with world-class education and professional networking opportunities in Australia.
Outstanding students from outside the European Union can apply for an Amsterdam Merit Scholarship (AMS) at The University of Amsterdam (UvA). This award aims to attract the world’s brightest students to its international classrooms in the Netherlands.
Students from countries outside the EU can obtain full funding for a Master’s program from a broad range of vocational areas such as Economics and Business, Law, Communication Science, and Child Development and Education.
The Yenching Academy Scholarship is a fully funded master’s degree program in China Studies at Peking University for outstanding global scholars. The program integrates diverse coursework, cultural immersion, and research opportunities, equipping students with a deep understanding of China’s history, politics, and global influence.
Scholars also benefit from mentorship, academic conferences, and networking with leading experts, fostering cross-cultural dialogue and leadership development.
The SISGP supports international students pursuing master’s degrees in Sweden. The program seeks future global leaders with strong professional and leadership experience in fields that contribute to sustainable development.
In addition to covering tuition fees and living expenses, the scholarship also provides access to networking opportunities, leadership training, and mentorship programs to help scholars make a lasting impact in their home countries.
The Clarendon Fund Scholarships provide full tuition as well as a generous stipend for international students pursuing graduate studies at the University of Oxford in the United Kingdom. These highly competitive scholarships are available to students displaying academic excellence and potential.
Recipients become part of the Clarendon Scholars community, which offers a research-driven academic community, cross-discipline collaboration, and mentorship from Oxford’s esteemed faculty. The program supports students across various disciplines, making it an excellent choice for those pursuing research-intensive master’s and doctoral degrees. Additionally, scholars benefit from various academic and professional development events, enhancing their global impact.
The Chevening Scholarships cover full tuition, travel, and living expenses for one year for international students. This highly competitive program targets future leaders with outstanding academic and leadership records.
Applicants must have at least two years of work experience and commit to returning to their home country after graduation to drive positive change. In addition to financial support, scholars gain access to an extensive alumni network, career mentorship, and high-impact policy and diplomacy exposure, empowering them to make a lasting global impact in politics, business, and other key sectors.
Operating in more than 160 countries worldwide, this prestigious scholarship offers full funding for graduate studies in the United States. The Fulbright Program supports exceptional international students, covering tuition, living stipends, and travel costs. Strong academic performance, leadership, and community engagement are key selection criteria.
With Approximately 4,000 foreign students receiving Fulbright scholarships annually, the Fulbright Foreign Student Program is a highly competitive scholarship. The Applicants undergo a rigorous selection process based on their academic achievements, leadership potential, and commitment to fostering mutual understanding between nations.
The DAAD scholarship is exclusively available for bachelor’s, master’s, or Ph.D. studies at top German universities. This fully funded scholarship for international students allows you to pursue your academic education in Germany with a scholarship funded by the German Federal Foreign Office.
Scholarships for a Master’s degree are available for students from industrial countries. However, some study scholarship programs specifically target students from developing and emerging countries. Programs such as the “Study Scholarships for STEM disciplines“ and “Development-related Postgraduate Courses (EPOS)” programs can aid students working in emerging economies to drive growth and bilateral cooperation.
Merit-based scholarships offer a lifeline for students seeking graduate degrees without the cost of tuition causing financial strain. These funding options offer scholarships recognizing academic potential, leadership skills, and career aspirations.
Whether you’re an aspiring leader, a future STEM innovator, or a business executive, these scholarships can help realize your global education dream.
For more insights into scholarships, funding, and success stories, visit our Financing Your Masters page.
