IE Resilience Scholarship Fund (COVID19)
The ongoing health emergency caused by COVID-19 is fueling a major social and economic crisis across the world. One of the effects already impacting the IE community is that of the changing economic circumstances of current students and their families, and of highly qualified candidates who find themselves facing worsening conditions in an exceptionally uncertain economic environment.
The IE Foundation and IE University have created the “IE Resilience Scholarship Fund (Covid-19)” comprised of up to 5 million euros earmarked to help mitigate the negative economic impact this situation is having on current students and candidates.
The creation of this fund reflects the firm commitment of IE Foundation and IE University to the broader objective of providing the highest quality education to highly qualified candidates from around the world even at a moment of great difficulty that is already posing important challenges to IE University. By tackling the considerable problems generated by the current crisis we will emerge stronger and the long-term individual and social benefits of education will prevail.
FREQUENTLY ASKED QUESTIONS
Who may benefit from the IE Resilience Scholarship Fund?
The IE Resilience Scholarship Fund (Covid-19) will help talented candidates and current students of any of IE’s master or undergraduate programs who are facing unexpected financial difficulties as a result of the outbreak of the COVID-19 pandemic. Given that the ultimate aim of this initiative is that highly qualified students do not interrupt or postpone their studies due to extreme conditions caused by the pandemic, the Fund will prioritize students and candidates from areas or sectors which are particularly vulnerable to the resulting adverse effects.
We understand that a number of our incoming students may be suddenly facing unanticipated and significant change in their financial plans to attend IE, as a result of the outbreak of this pandemic. If you are requesting a reconsideration of your scholarship application outcome at IE due to the COVID-19, the appeal will be supported under the newly created IE Resilience Scholarship Fund (Covid-19).
What type of assistance will the selected applicants receive?
Selected applicants will receive financial assistance in the form of tuition support to start or continue their educational journey at IE University for the upcoming academic year 2020-2021. All tuition support awarded will be deducted from tuition fees. This support will not be redeemable for cash and will not cover living or traveling expenses.
What is the application process for candidates?
Candidates must complete the ordinary scholarship application process. Along with the required documents, they must additionally submit:
• An essay clearly explaining how your financial situation has been affected by COVID-19.
• Documentation that relates to the unforeseen problems or extraordinary circumstances faced because of the COVID-19 pandemic outbreak. Candidates must provide relevant evidence. This will depend upon individual/household circumstances, but some examples are:
- Income loss or reduction due to employment circumstances, affecting income earners in the household (student, spouse/partner, parents/guardian)
Type of evidence: An employer’s letter; Payslips reflecting change in income; Documentation of unemployment benefits
- Business income loss or reduction due to business interruption, closure or other negative impacts
Type of evidence: Documentation that might be relevant in each case
- Discontinuation of funding support from other sources (e.g. corporate sponsorship, external scholarship)
Type of evidence: Sponsorship letter and evidence of non-continuation
- Extraordinary and non-reimbursed significant medical expenses or extra costs incurred due to illness of an income earner (unpaid leave to take care of a family member)
Type of evidence: Medical expenses and letter from medical insurance regarding such expenses
- Death or disability of a parent/guardian/spouse/partner
Type of evidence: A death or disability certificate
- Exceptional currency fluctuation causing a significant negative impact in the student´s or household´s financial plan that could not have been anticipated
Type of evidence: Evidence of exceptional currency fluctuation, with explanation on how this has impacted your financial plan
For more information regarding the scholarship application process, please visit our website:
What is the application process for current students?
Currents students will have to complete and submit a formal application. Please contact the Financial Aid Office team to request the application form and corresponding guidelines.
What are the application deadlines?
Candidates must apply before the start of their program. Funds are still available for programs starting in Fall 2020.
Current students do not have a specific deadline, but we recommend you contact the Financial Aid Office as soon as possible for guidance.
Review and assessment criteria
The IE Resilience Scholarship Fund is administered by the Financial Aid Office in close coordination with the IE Foundation. All applications will be carefully reviewed on a case-by-case basis by a Special Committee, consisting of representatives from the IE Foundation, the Financial Aid Office, the Division of Finance and Administration, and Program Management.
The IE Resilience Scholarship Fund (Covid-19) tuition support will be awarded based on the following criteria:
• Financial need: Candidates and students must show that they have experienced an unexpected financial situation directly related to the COVID-19 pandemic that might put their ability to continue at IE in jeopardy.
• Merit: The candidates/student’s academic and/or professional record will be evaluated. In the case of current students, the student’s involvement in clubs and activities in the IE community will be viewed favorably.
Can candidates from IE’s Executive Education Programs benefit from this fund?
Any other questions?
IE´s Financial Aid Office is here to support you in identifying potential support options and providing you with guidance to complete the application process. If you prefer that we arrange a call to discuss your current circumstances before submitting an application for support, please let us know!
Reach out to us at:
Mon-Fri 9am to 6pm