Studying a graduate program as an international student is a difficult decision to make. One of the main constraints is that it can be very expensive. However, before assuming that this is a completely unaffordable experience, I suggest exploring all the opportunities available for financing your studies. In this post I will share the options available for Mexican Students I found when I was applying to LSE. Keep in mind that for applying to most of these opportunities it is required to have an unconditional offer from LSE, so the best tip I can give you, is not leaving everything until the last minute. The sooner you apply, the more chances you have of securing a scholarship!
NATIONAL COUNCIL OF SCIENCE AND TECHNOLOGY (CONACYT)
CONACYT is the Mexican government´s organisation in charge for promoting Science and Technology in the country. It offers scholarships to Mexican students willing to study abroad. It usually launches two rounds of application each year, one in January and the other in May. This scholarship covers health insurance, a proportion of the total tuition, and a monthly stipend for housing and food. For applying you´ll have to write a cover letter explaining how you will contribute to Mexico after finishing your studies. and gather recommendation letter from your former professors. This scholarship is only awarded to students whose program is aligned to a list of research areas which are a priority for the country. For example, during 2021 the only programs that were funded where the ones related to Health and Culture. Make sure your program fits in one of the categories before applying!
The Bank of Mexico (FIDERH)
This is a trust managed by the Bank of Mexico that offers loans to Mexican students for studying a graduate program abroad in a top university. The interest rate is considerably lower than the one offered at commercial banks, plus you have 10 years for repaying the loan. In addition, LSE offers a 25% reduction in the tuition fee to taught master’s (excluding executive and modular programmes) and PhD students that have taken this loan. There are 4-5 rounds of applications every year starting in January, having the last one in July. It is very important to start preparing the file in advance, because you´ll have to include financial statements of yourself and a bank guarantee. Some documents needed for the application may take time to obtain so it is crucial to begin early.
This a program of the British Government that support future leaders willing to study a master´s program in the UK. At the end of the program, students are expected to return to their home countries and give back to the society. There is only one round of applications every year (the application must be started one year before your expected year of study). It opens in August and closes in November. For applying to this opportunity, you need to have at least 2 years of professional experience. The whole application process lasts 10 months and you´ll have to write some essays and have some interviews during the process. This a fully funded scholarship that includes living expenses, tuition, visa application and even the air ticket. In case you are interested in applying to it, I recommend reaching out to former recipients of this program. You can easily find them on Twitter. Some of them provide free counselling for making strong applications or have blogs and YouTube videos sharing their experience in every stage of the application process.
This is a non-profit organization that supports Mexican students that want to study a graduate program abroad in a top university, by providing them with student loans at a fixed interest rate. FUNED has a partnership with LSE that gives beneficiary students an additional 25% discount in the tuition fee for full-time master’s programmes (excluding executive and modular programmes). The rounds of applications are in January and May. This can be a good alternative or supplement of the Bank of Mexico loan. The application process is completely online.
Hope this information was helpful and if you have any comments or questions let me know by the comments!
Explore the range of financial support available for LSE graduate students here. This information was valid at time of writing. For the latest updates on LSE financial support and scholarships for Mexican Students, visit the website.