University of Aalto Scholarships, Internships & Other Funding Opportunities

About the Aalto University

• Country: Finland
• Location: Espoo (Greater Helsinki Area)
• Status: Public (Government University)
• Campuses: Otaniemi (Main Campus – Espoo), Töölö (Helsinki), Mikkeli
• Type: Multidisciplinary – Engineering, Technology, Business, Art & Design (Not a medical university)
• Study Programs: Bachelor’s, Master’s, PhD, MBA, Executive Education (Strong in AI, Engineering, Business Analytics, Sustainability, Design)
• QS World Ranking: Top 110–120 globally (QS World University Rankings)
• National Ranking (Finland): Consistently Top 2–3 universities in Finland
• Acceptance Rate: Approximately 15–25% (competitive, varies by program)
• Application Portal: Studyinfo.fi (National Finnish Application System)

Why Study at Aalto University?

Aalto University is one of Europe’s most innovative and multidisciplinary universities, located in Espoo, Finland. The university was formed through the merger of top Finnish institutions in technology, business, and art & design, creating a globally respected hub for research, entrepreneurship, and academic excellence.

Aalto consistently ranks among Europe’s leading institutions for engineering, technology, business analytics, sustainability, artificial intelligence, and design. It is particularly attractive to international students because of its structured scholarship schemes, English-taught Master’s programs, strong industry collaboration, and startup ecosystem linked to the Nordic innovation landscape.

For non-EU/EEA students, tuition fees apply, but Aalto provides multiple scholarship routes that significantly reduce or fully eliminate tuition costs.

1. University-Wide Aalto Scholarships (Merit-Based Tuition Waivers)

These scholarships are automatically considered when applying for admission. There is no separate scholarship application; students simply indicate interest during the program application process.

Aalto University Excellence Scholarship (Category A – 100%)

The Aalto University Excellence Scholarship is the institution’s highest merit-based award. It provides a full 100% tuition fee waiver and is granted to the most academically outstanding applicants in each Master’s program. Selection is highly competitive and based entirely on academic performance, motivation, and overall application strength.

This scholarship does not include a living stipend, but it completely removes tuition fees, making it one of the most attractive for its funding options, Although technically a tuition waiver rather than a cash grant, it significantly reduces the overall financial burden for international students.

Only top-ranked candidates receive this award, and decisions are announced alongside admission results.

Aalto University Scholarship (Category B – 50%)

The Aalto University Scholarship (Category B) covers 50% of tuition fees and is also merit-based. It is awarded to strong applicants who demonstrate excellent academic records but may not rank at the very top of the admission pool.

This partial tuition waiver makes studying in Finland considerably more affordable and is one of the most common scholarship outcomes for international Master’s students. Like the Excellence Scholarship, it requires no separate application and is decided during the admissions evaluation process.

Finland Scholarship (Government-Funded Master’s Support)

The Finland Scholarship is funded by the Finnish Ministry of Education and Culture and is designed to attract top global talent to Finnish universities, including Aalto University.

This scholarship covers 100% of tuition fees for the full two-year Master’s degree and additionally provides a €5,000 relocation grant paid during the first academic year. The relocation grant is particularly helpful for covering initial costs such as accommodation deposits, winter clothing, and settlement expenses.

Students apply for this scholarship by selecting the scholarship option within the Aalto application form. Selection is competitive and based on academic merit.

Aalto Reserve Scholarships

Aalto Reserve Scholarships are designed as a protective mechanism for students whose residency or tuition fee status changes during their studies. For example, if a student loses fee-exempt status due to immigration or residency adjustments, this scholarship may cover 100% of tuition fees to ensure continuity of studies.

This scholarship reflects Aalto’s commitment to academic fairness and student stability.

2. Program-Specific & Incentive Scholarships at Aalto

In addition to university-wide scholarships, Aalto offers program-specific grants and performance-based financial incentives.

Pekka Mattila Excellence Scholarship

The Pekka Mattila Excellence Scholarship is awarded to selected students enrolled in the Master’s programs in Marketing or International Management. It provides a €3,000 relocation grant intended to support students with initial living and settlement expenses in Finland.

This scholarship is competitive and reflects Aalto’s emphasis on supporting high-performing students in business-related disciplines.

Aalto Incentive-Based Scholarships

Aalto also rewards academic progress through incentive-based scholarships. Students who complete at least 60 ECTS credits within an academic year may receive financial rewards ranging between €250 and €1,500, depending on the program and academic year.

These scholarships are designed to encourage timely graduation and sustained academic performance. They are particularly attractive for students aiming to maintain high GPAs while progressing efficiently through their studies.

Dean’s Incentive Scholarships

Certain schools within Aalto University, such as the School of Electrical Engineering and the School of Science, offer Dean’s Incentive Scholarships. These awards typically range from €250 to €500 and are granted when students reach specific academic credit milestones.

Such scholarships strengthen academic motivation and reflect Aalto’s merit-driven culture.

3. Erasmus Mundus & Joint Degree Scholarships at Aalto

Aalto University participates in prestigious European Union-funded joint degree programs that offer fully funded study opportunities.

Erasmus Mundus Joint Master Degrees

Erasmus Mundus scholarships are among the most competitive and prestigious fully funded opportunities in Europe. These programs provide complete tuition coverage, a monthly living stipend, travel allowances, and insurance.

Aalto participates in Erasmus Mundus programs such as SECCLO (Cybersecurity) and Bioceb (Biological and Chemical Engineering). Students enrolled in these joint programs typically study in multiple European countries during their degree, gaining international exposure and interdisciplinary training.

EIT Master School Scholarships

The European Institute of Innovation and Technology supports Master’s programs in Digital Technology, Raw Materials, and Urban Mobility. These programs often combine technical education with entrepreneurship training and industry placements.

Students receiving EIT scholarships may obtain tuition coverage, monthly stipends, and support for mobility across partner universities in Europe. These programs are particularly appealing to students interested in innovation-driven careers.

4. Finnish Government & Doctoral Research Funding

Finland provides strong support for doctoral research and academic mobility.

EDUFI Doctoral Fellowship

The Finnish National Agency for Education manages the EDUFI Fellowship program. This funding is designed for PhD students and young researchers who wish to conduct research in Finland for a period of 3 to 12 months.

The fellowship provides a monthly stipend to support living expenses during the research stay. It is particularly beneficial for international doctoral candidates collaborating with Finnish supervisors.

CIMO Doctoral Fellowships

CIMO fellowships, historically connected with Finnish academic mobility programs, support doctoral-level research and academic exchange. These programs enable international researchers to engage with Finnish institutions and strengthen global research collaboration.

5. International Government & Country-Specific Scholarships

Many students finance their Aalto education through national government or foundation-sponsored scholarships.

Fulbright-Aalto University Graduate Award

The Fulbright Program offers funding for U.S. citizens pursuing a Master’s degree at Aalto. This award typically includes a living allowance, travel support, and academic integration services.

Fulbright awards are prestigious and highly competitive, recognized globally for academic excellence and cultural exchange.

COLFUTURO (Colombia)

COLFUTURO provides scholarship-loans of up to $50,000 for Colombian students. Aalto University supports COLFUTURO recipients by offering a 25% tuition fee discount, reducing financial pressure.

FUNED & CONAHCYT (Mexico)

FUNED and CONAHCYT provide Mexican students with funding for graduate studies abroad. Aalto complements this support with tuition discounts, making Finland more accessible to Latin American applicants.

Inlaks Shivdasani Foundation (India)

Inlaks Shivdasani Foundation offers full funding to exceptional Indian students pursuing postgraduate degrees at leading European institutions. This highly competitive scholarship may cover tuition and living expenses.

Aga Khan Foundation (AKF)

Aga Khan Foundation provides a unique 50% grant and 50% loan funding model for students from developing countries who demonstrate financial need and academic excellence.

Rotary Global Grants & World Bank Scholarships

Rotary International funds graduate-level students in areas aligned with its global development focus. Similarly, World Bank scholarships target mid-career professionals pursuing development-related degrees.

6. Aalto PhD Funding & Research Employment

Unlike Master’s scholarships, PhD funding at Aalto often operates through employment contracts. Doctoral candidates are typically hired as research staff and receive a monthly salary instead of a traditional scholarship. This structure ensures financial stability and access to social benefits within Finland.

Additionally, doctoral researchers may combine employment funding with short-term grants such as the EDUFI Fellowship or international mobility funding programs.

7. Internships, Innovation Grants & Training Opportunities

Aalto strongly integrates industry collaboration into its academic ecosystem. Students have access to research internships, startup incubators, and industry-sponsored innovation programs. Through partnerships with European and Nordic companies, students may obtain paid internships or project-based funding.

Participation in Erasmus+ mobility programs may also provide financial assistance for internships conducted in other European countries. Innovation-driven programs under EIT often include funded industry placements.

8. Cost of Living in Finland for Aalto Students

Although tuition may be waived, students are responsible for living expenses unless they hold a fully funded external scholarship such as Erasmus Mundus.

International students are generally expected to demonstrate access to approximately €800 per month to cover accommodation, food, transport, health insurance, and personal expenses. Finland maintains a high standard of living, and careful financial planning is essential.

9. How to Apply for Aalto Scholarships

Applicants must first apply for admission to their selected Master’s or doctoral program. During the online application process, they indicate whether they wish to be considered for scholarships. Required documents typically include academic transcripts, degree certificates, English proficiency proof, motivation letters, and a CV.

Scholarship decisions are announced together with admission results. Because scholarships are merit-based, academic excellence and a strong motivation statement significantly increase chances of selection.

10. Application Timeline

The main application window for Master’s programs usually opens in December for studies beginning in the autumn semester. Erasmus Mundus deadlines vary by program, and external scholarships follow their own national timelines. Applicants are encouraged to prepare documents well in advance.

11. Summary of Scholarship Coverage

Aalto University offers one of the most diverse scholarship ecosystems in Northern Europe. Whether you aim for a tuition waiver, a fully funded Erasmus program, a government-backed national scholarship, or doctoral employment funding, there are multiple financial pathways available.