For many students, a scholarship is more than just a way to pay tuition—it can also help cover living expenses while studying. Some of the most competitive and generous scholarships don’t just waive fees; they provide a monthly stipend or allowance to support your housing, food, books, and personal needs. These programs make it easier for students to focus on their education without worrying about part-time jobs or financial stress.
Below is a curated list of well-known scholarships around the world that offer a monthly allowance, along with an overview of their benefits and eligibility requirements.
1. Chevening Scholarships (United Kingdom)
Overview:
Funded by the UK government’s Foreign, Commonwealth & Development Office, the Chevening Scholarships are awarded to outstanding students from over 160 countries to pursue a one-year master’s degree in the UK.
Monthly Allowance:
Chevening provides a monthly stipend to cover living costs, which varies depending on location, but is typically enough for rent, food, and transport in the UK.
Other Benefits:
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Full tuition fees
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Travel costs to and from the UK
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Arrival and departure allowances
Eligibility:
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Strong academic background
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At least two years of work experience
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Commitment to return to your home country after studies
2. Erasmus Mundus Joint Master Degrees (Europe)
Overview:
This program is funded by the European Union and allows students to study a master’s degree in at least two European countries.
Monthly Allowance:
Recipients receive €1,000 per month for living costs throughout the program, in addition to tuition coverage.
Other Benefits:
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Full tuition fees
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Travel and installation allowances
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Insurance
Eligibility:
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Bachelor’s degree or equivalent
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Acceptance into an Erasmus Mundus partner university program
3. DAAD Scholarships (Germany)
Overview:
The German Academic Exchange Service (DAAD) offers fully funded scholarships for international students to pursue master’s or doctoral degrees in Germany.
Monthly Allowance:
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€934 per month for master’s students
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€1,200 per month for doctoral candidates
Other Benefits:
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Health insurance
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Travel allowance
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Research subsidies
Eligibility:
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Bachelor’s degree for master’s programs
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Strong academic performance and relevant professional experience
4. Fulbright Foreign Student Program (USA)
Overview:
This flagship program of the U.S. government supports graduate study and research for students from over 155 countries.
Monthly Allowance:
The stipend amount varies by location but is designed to cover living expenses, housing, and books.
Other Benefits:
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Tuition fees
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Health insurance
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Airfare to and from the USA
Eligibility:
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Bachelor’s degree or equivalent
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Strong leadership qualities and community involvement
5. MEXT Scholarship (Japan)
Overview:
The Japanese Government’s MEXT (Monbukagakusho) Scholarship supports undergraduate, master’s, and doctoral students from around the world to study in Japan.
Monthly Allowance:
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¥117,000 per month for master’s students
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Slightly higher for doctoral candidates
Other Benefits:
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Full tuition fees
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Round-trip airfare
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Preparatory Japanese language training
Eligibility:
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Good academic performance
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Willingness to learn Japanese language and culture
6. Australia Awards Scholarships (Australia)
Overview:
Funded by the Australian Government, these scholarships aim to promote development in partner countries.
Monthly Allowance:
Students receive a contribution to living expenses (CLE) every fortnight, which is meant to cover accommodation, food, and utilities.
Other Benefits:
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Full tuition fees
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Health coverage for the duration of the program
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Pre-course English training if needed
Eligibility:
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Citizen of an eligible partner country
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Meets English language and academic requirements
7. Rhodes Scholarships (United Kingdom)
Overview:
The Rhodes Scholarship, one of the most prestigious awards globally, funds exceptional students to study at the University of Oxford.
Monthly Allowance:
The stipend is paid monthly and is designed to cover all living costs in Oxford, including housing and meals.
Other Benefits:
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University and college fees
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One economy class airfare to the UK and return after studies
Eligibility:
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Outstanding academic achievements
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Leadership potential and commitment to making a positive impact
8. Swiss Government Excellence Scholarships (Switzerland)
Overview:
These scholarships support postgraduate researchers in any discipline to study in Switzerland.
Monthly Allowance:
Approximately CHF 1,920 per month to cover living expenses.
Other Benefits:
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Health insurance (for non-EU students)
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Travel allowance
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Tuition fee exemption at some institutions
Eligibility:
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Master’s degree or equivalent
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Strong research proposal and academic track record
9. Holland Scholarship (Netherlands)
Overview:
Funded by the Dutch Ministry of Education, Culture, and Science, this scholarship is for non-EEA international students.
Monthly Allowance:
Some universities within the program provide additional monthly stipends alongside the main scholarship amount.
Other Benefits:
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One-time grant towards tuition
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Possible extra financial support from the hosting university
Eligibility:
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Non-EEA nationality
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Admission to a participating Dutch higher education institution
10. CSC Scholarships (China)
Overview:
The China Scholarship Council (CSC) funds international students to study in Chinese universities.
Monthly Allowance:
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CNY 3,000 per month for master’s students
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CNY 3,500 per month for doctoral candidates
Other Benefits:
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Full tuition fees
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Free accommodation or housing allowance
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Comprehensive medical insurance
Eligibility:
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Non-Chinese nationality
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Strong academic background and research interest
Final Thoughts
Scholarships that include a monthly allowance can be life-changing. They don’t just reduce tuition costs—they provide financial security during your studies, making it easier to focus on academic success and personal development.
When applying, pay close attention to each program’s eligibility criteria, deadlines, and documentation requirements. The competition is high, but with careful preparation, a compelling personal statement, and proof of your academic and leadership potential, you can secure one of these coveted awards.
A monthly allowance may seem like just a number, but in reality, it is a stepping stone to a more focused, fulfilling, and debt-free education.