IUM Merit-Based Scholarship (International University of Monaco)
A merit-based tuition award from the International University of Monaco covering 10-15% of tuition fees for admitted Bachelor's, Master's, and MBA candidates, judged on academic record, essays, and extracurricular achievement rather than financial need.
Quick Facts
Status
Applications OpenFunding
Partial FundingDeadline
Rolling — scholarship form must be requested within 15 days of admission and returned within 30 days; final cutoff is the start of classes for the intake
Country
MonacoAbout the IUM Merit-Based Scholarship
The International University of Monaco (IUM), part of the OMNES Education group and based in Monte-Carlo, runs a Merit-based Scholarship program open to newly admitted international students across its Bachelor of Business Administration, Master of Science, and MBA programs. Unlike need-based aid, the award is decided purely on the strength of the candidate's application: academic performance, language proficiency, an admissions essay, a letter of recommendation, extracurricular record, and professional or entrepreneurial experience. It is one of the few concrete tuition-reduction routes IUM publishes for its small, highly international student body, which draws from over 60 nationalities to a campus tucked into the Principality's financial and business district.
Because IUM is a private, English-taught institution with fees in the higher range typical of European business schools, the scholarship functions as a tuition discount rather than a full-ride package. Successful applicants receive a reduction of roughly 10% to 15% off their program's tuition fees, applied after formal admission and confirmed through a separate scholarship application submitted on a tight post-admission timeline. The number of awards each intake is limited, and IUM is explicit that a student already receiving another institutional discount, fee waiver, or scholarship cannot stack a merit award on top of it.
The evaluation looks across four areas: the quality and completeness of the scholarship application itself (essay, recommendation letter, supporting documents); academic performance, including grades and recognized school or language-proficiency achievements; extracurricular involvement such as club leadership, volunteering, sports, arts, or media activities; and practical experience, covering internships, work history, entrepreneurial projects, and international exposure. Candidates with a demonstrably international background or cross-border work and study experience tend to score well, reflecting IUM's own positioning around global business education in Monaco's luxury, finance, yachting, and sports-business sectors.
The process is deliberately compact once a student is admitted. IUM emails admitted candidates instructions for requesting the scholarship application form, which must be requested within 15 days of the admission confirmation and returned, fully completed, within 30 days of receiving it. The final cutoff for any scholarship submission is the start date of classes for that intake, so students who delay their admission decision or miss the request window forfeit the opportunity for that cycle. There is no separate scholarship-specific deadline calendar published outside this admission-triggered window, so applicants should treat scholarship interest as part of the admissions conversation from the outset rather than an afterthought.
Eligible Levels
Eligible Fields
Why Choose This Scholarship?
Direct tuition savings on an accredited AACSB and AMBA business education in a low-tax, highly secure European microstate
Small, highly international cohort (60+ nationalities) inside Monaco's own finance, luxury, and yachting business ecosystem
No financial-need documentation required — purely a merit and profile-based evaluation
Available across undergraduate, graduate, and MBA levels, so career-changers and early-stage students both qualify
Campus location in Monte-Carlo gives direct access to internships and networking within Monaco's finance and luxury sectors
What the Scholarship Covers
Studying in Monaco
Monaco is a tiny, ultra-wealthy sovereign city-state on the French Riviera with no personal income tax, a stable and secure environment, and an economy anchored in finance, tourism, real estate, and luxury goods. It has no public universities of its own; the International University of Monaco is the Principality's only degree-granting higher education institution, making it the sole formal study-in-Monaco route for international students, alongside limited exchange or short-course options through Monaco's business and cultural institutions.
Eligibility Requirements
5 requirements
Documents Checklist
6 documents required
How to Apply - Step by Step
Step 1: Apply to and receive formal admission into an IUM Bachelor's, Master's, or MBA program through the standard admissions process.
Step 2: Upon receiving the official admission confirmation email, request the scholarship application form from IUM admissions within 15 days.
Step 3: Complete the form, including the essay and recommendation letter, and gather all supporting documents.
Step 4: Submit the completed scholarship application within 30 days of receiving the form, ensuring it arrives before the start of classes for that intake.
Step 5: Await IUM's scholarship committee decision, which evaluates application quality, academic record, extracurriculars, and practical experience.
Application Timeline
Rolling, ahead of Fall/Spring intake deadlines
Program application
Admission must be secured before scholarship eligibility begins
Within 15 days of admission confirmation
Scholarship form request
Triggered by IUM's official admission email
Within 30 days of receiving the form
Scholarship submission
Hard cutoff: start date of classes for that intake
Communicated by IUM admissions after submission review
Decision
Insider Tips & Pro Tips
Request the scholarship form the same day you receive your admission email — the 15-day window is strict and not typically extended
Draft the essay to highlight international exposure, since IUM's own evaluation criteria explicitly reward a global/cross-border background
Choose a recommender who can speak concretely to leadership, initiative, or academic distinction, not just general character
Document quantifiable achievements (awards, leadership titles, measurable project outcomes) rather than listing activities without detail
If you already qualify for another IUM discount or waiver, confirm with admissions whether it is more valuable than the merit scholarship before applying, since the two cannot be combined
Apply to your intended intake early — because the process is triggered by admission, earlier applicants effectively get more runway before the start-of-classes cutoff
Important Links & Contacts
Frequently Asked Questions
6 questions - click any to expand
No. It is a partial tuition reduction, typically 10% to 15% off the program's published fees, not a full-ride award.
No, the IUM Merit-based Scholarship is awarded purely on merit — academic record, essay, recommendation, extracurriculars, and experience — regardless of family income.
No. You must first receive formal admission to a Bachelor's, Master's, or MBA program at IUM before you can request the scholarship application form.
No. IUM states that students already benefiting from another university-granted discount are not eligible for the merit-based scholarship.
The scholarship applies across IUM's Bachelor of Business Administration, its Master of Science programs, and its MBA (Full-Time and Part-Time).
Yes, Monaco has one of the highest costs of living in Europe; most IUM students commute from or share housing in nearby French towns such as Beausoleil or Nice to manage costs.
Ready to Apply?
Head to the official portal and start your application today.
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