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Students will pay the tuition of the school where they are in residence, and that school will independently allocate any scholarships or financial aid to the student for its program.

Year 1 at HEC Paris (2020/2021) € 18,900 € 2,400 € 23,700  
Year 2 at TUM (2021/2022)   € 2,400   See Partner Website*


(*) Indicatives fees. May be subject to change.
For your information, in 2018 the tuition fees of the partner were € 14 000.

NB: The annual HEC Student service fees and Administrative fees (€ 1600 + € 800) are payable for any additional year until graduation.

In order to be part of the community life, students are offered the possibility to live on HEC Paris' campus in one of the 1,350 individual rooms during the first year of the Master & Innovation. Remaining costs include housing and food (approximately 1000€/month in 2016) for housing, student restaurant, sports and and leisure.

Recent calculations indicate that living in the capital of Bavaria costs about 900€ per month, including rent, health insurance, public transportation, etc. Students are advised to have sufficient funds available to ensure a pleasant stay and stress-free studies at the Technical University of Munich.

For many years now, HEC Paris has been committed to enabling the most talented international students to pursue their studies within our elite business school.
HEC Foundation Excellence Scholarships have been made possible thanks to the considerable support from the community of alumni and businesses related to the HEC Paris Foundation. 

Eligibility: All candidates with a non-French diploma (Bachelor’s or Master’s Degree) admitted to one of our master programs

Process: All admitted candidates with a non-French diploma (Bachelor’s or Master’s Degree) are automatically considered for HEC Foundation Excellence scholarship. No additional document is required

Deadline: Results from this scholarship are announced by email within 2 weeks after your admission and before the confirmation deadline.

HEC Foundation Excellence Scholarships' final decision is based on academic excellence, the overall strength of the application, the results of the selection interview and the candidate’s GMAT/GRE/TAGE-MAGE performance. Scholarships are deducted from tuition fees.


The Eiffel Excellence Scholarship was established by the French Ministry for Europe and Foreign Affairs to enable French higher education establishments to attract top international students to their master’s and PhD programs. On the masters level, the scholarship encourages applications from emerging countries to shape the future decision-makers of the private and public sectors in priority areas of study. 

Application deadline :  

  • Opening of the call for applications: week of October 21th 2019
  • Deadline for the reception of applications by Campus France:  January 9th 2020.
  • Publication of results: week of March 23th 2020.


Candidates aged 30 years old or below 

Non-French nationality candidates only (applicants with dual nationality, one of which is French, are not eligible). 

Candidates who have already been awarded the Eiffel scholarship at master’s level (not eligible at the same level, but can nevertheless reapply at a doctoral level). 

Candidates who have applied previously and been rejected, even if their application is submitted by a different establishment or in another field of study. 

N.B.: The Eiffel scholarship can not be cumulated with any other French government scholarship or award. 


Monthly allowance of €1181. The scholarship also covers: one international return ticket, social security and cultural activities. 

Publication of results:  

The list of laureates will be published on the Campus France website during the week of March 23, 2020. 

The Eiffel Scholarship covers my daily expenses in France, which allows me to focus on my studies and career development without any financial preoccupations eating into my energy and schedule. Zeyu Li, Master in Management

The Volkswagen - HEC Women in Leadership Scholarship is a 15 000 € scholarship open to high-profile, German-speaking women with a strong sense of leadership applying to the following programs: 

  • HEC Paris Grande Ecole Master in Management 
  • Master in Management & Innovation HEC - TU Munich 
  • Master in Management & Public Affairs HEC - FU Berlin

In order to apply, students must submit a 350-word response to only one of the two following prompts:

  • What will innovation in the auto industry look like?
  • What innovations to you imagine for VW?

The short essay should be sent as a Word Document or PDF to one week after the admissibility results are published. See 'Admissions' tab for admissibility dates.  

HEC-Volkswagen scholarship holders will also be offered diverse internship opportunities adapted to interest in various locations.

We referenced a number of local scholarships allocated by country.

Most banks will provide loans for study at HEC Paris to French nationals or residents with pre-established banking credentials at very low interest rate (around 1% in 2016). We have excellent relationships with local branches of national banks :

BNP PARIBAS 50 avenue Jean Jaurès 78350 Jouy-en-Josas
CAISSE D'ÉPARGNE 7 rue Oberkampf 78350 Jouy-en-Josas
SOCIÉTÉ GÉNÉRALE 10 rue Oberkampf 78350 Jouy-en-Josas
HSBC 8 rue de l'Eglise 91570 Bièvres
LCL 66 rue de la Paroisse 78000 Versailles
BRED 13 rue Oberkampf 78350 Jouy-en-Josas


Furthermore, information sessions with bank representatives are organized on campus every year during the first 3 weeks of September.

Finally, the European Commission Erasmus+ Program allows students following a master abroad to benefit from soft loans until 18.000€ (2-year programs). To be eligible students must live in a programme country and their study destination cannot be in their country of residence or the country where they received their first qualification. More information on the European Commission website.