Scholarships That Also Pay a Monthly Stipend

For most students, scholarships are a lifeline. They cut down tuition costs, remove financial stress, and open doors to education that might otherwise feel out of reach. But not all scholarships are created equal. While many cover only tuition fees, a select few go further by offering a monthly stipend — extra financial support for living expenses, books, and day-to-day needs. These programs are especially valuable for international students who face higher costs abroad. Let’s look at some of the most well-known scholarships that provide this kind of support.

DAAD Scholarships (Germany)

Germany’s DAAD (Deutscher Akademischer Austauschdienst) is one of the most generous scholarship bodies in the world.

Coverage: Tuition (where applicable), health insurance, and travel allowance.
Monthly Stipend: Around €850–€1,200 depending on the degree level.
Why it stands out: DAAD doesn’t just support tuition — it helps students fully live and study in Germany without constantly worrying about money.

Chevening Scholarships (UK)

Funded by the UK government, Chevening is a prestigious award for future global leaders.

Coverage: Full tuition fees, travel to and from the UK, and visa costs.
Monthly Stipend: Covers accommodation and living expenses (varies by location).
Why it stands out: Beyond money, Chevening builds a strong international alumni network, opening career opportunities long after graduation.

Erasmus+Program (Europe)

Erasmus+ is widely known for exchange programs, but it also funds full Master’s degrees across Europe.

Coverage: Tuition and travel costs.
Monthly Stipend: About €1,000 for living expenses.
Why it stands out: It’s flexible — students can study in multiple European countries during one degree.

Fulbright Scholarships (USA)

The Fulbright Program is the US government’s flagship scholarship for international students.

Coverage: Tuition, airfare, health insurance, and research allowance.
Monthly Stipend: Varies by location, but typically $1,000–$2,000.
Why it stands out: It’s more than financial help — Fulbright scholars gain prestige and access to top US universities.

Australian Awards Scholarships (Australia)

These scholarships are designed to support students from developing countries.

Coverage: Tuition, travel, establishment allowance, and health insurance.
Monthly Stipend: Around AUD $2,000.
Why it stands out: The stipend is generous enough to comfortably cover living costs in Australia.

Swiss Government Excellence Scholarships (Switzerland)

Highly competitive but rewarding, these scholarships support postgraduate researchers.

Coverage: Tuition, health insurance, and travel allowance.
Monthly Stipend: CHF 1,920 (approx).
Why it stands out: Switzerland is expensive, but this stipend ensures scholars can focus on research instead of survival.

Eiffel Excellence Scholarship (France)

Run by the French Ministry for Europe and Foreign Affairs, this scholarship targets Master’s and PhD students.

Coverage: Tuition, travel, and health insurance.
Monthly Stipend: €1,181 (Master’s) and €1,700 (PhD).
Why it stands out: Eiffel helps France attract top global talent while offering enough support to live decently in French cities.

Why Monthly Stipends Matter

For many students, tuition fees are only half the battle. Rent, food, transport, and study materials can overwhelm even the most hardworking scholar. Scholarships that offer stipends remove this stress, allowing students to focus on academics and research instead of juggling multiple part-time jobs.

Conclusion

Whether you’re applying to study in Europe, the US, or Australia, scholarships with stipends provide not just education but freedom. They’re competitive, yes, but with careful preparation and strong applications, they can change the course of a student’s life. Education becomes more than just affordable — it becomes sustainable.