Fully Funded Master's in Europe: Erasmus Mundus vs National Scholarships Compared
By Muntasir Minhaz • Published Aug 03, 2026 • Education Planning, Study in Europe, Erasmus & Exchange, Scholarships & Funding
Erasmus Mundus Joint Masters pay about 1,400 euros a month plus full tuition for up to 24 months, while national scholarships like DAAD pay less but are easier to combine with a lower-cost university.
💶 Erasmus Mundus pays around 1,400 euros a month, up to 33,600 euros total over 24 months, plus tuition and insurance.
💶 DAAD pays 992 euros a month for study in Germany, where public universities often charge little or no tuition.
💶 Swedish Institute Scholarships pay 12,000 SEK a month plus full tuition, but only students from specific eligible countries qualify.
💶 The Holland Scholarship pays a one-off 5,000 euros, not a monthly stipend, and only covers non-EU/EEA applicants.
🎓 Erasmus Mundus asks you to study in two or more countries, national scholarships usually keep you in one.
Erasmus Mundus Joint Masters: full funding across two or more countries
An Erasmus Mundus Joint Master (EMJM) degree is run by a consortium of universities in at least two European countries, and you study at two or more of them during the program. Scholars typically receive a monthly living allowance of 1,400 euros, or 1,275 euros a month if you choose the payment option that pays travel and installation costs separately, according to official EMJM scholarship terms published by a participating consortium . Over a typical 24-month program, that adds up to a maximum of 33,600 euros. Tuition, health insurance, and a travel or installation contribution come on top of the monthly allowance, and the consortium pays your tuition directly to the universities, so you never see a tuition bill.
The trade-off is competition and logistics. Each EMJM program funds a fixed, small cohort, and you move between countries mid-degree, which means new housing searches, new visas or residence permits if you leave the EU or Schengen area, and adapting to a new university system partway through your studies.
National scholarships: DAAD, Swedish Institute, Holland Scholarship
National governments and cultural agencies run their own master's scholarships for international and European students. Three common examples show how different the terms are.
| Scholarship | Country | Amount | Tuition | Who qualifies |
|---|---|---|---|---|
| DAAD Study Scholarship | Germany | 992 euros/month plus insurance | Public universities charge little or no tuition | Open internationally, subject and course specific |
| Swedish Institute Scholarships | Sweden | 12,000 SEK/month | Full tuition paid | Citizens of specific eligible countries only |
| Holland Scholarship | Netherlands | 5,000 euros, one-off, first year only | Not covered, paid separately | Non-EU/EEA students only |
The DAAD figure and eligibility come from DAAD's published scholarship terms , the Swedish Institute figure from the Swedish Institute's Scholarships for Global Professionals page , and the Holland Scholarship figure from Study in NL's official scholarship page .
DAAD's lower monthly figure goes further than it looks, since German public universities generally charge no or minimal tuition for most master's programs, so the scholarship mainly needs to cover living costs. The Swedish Institute scholarship pays more and adds full tuition, but the eligible-country list changes yearly and excludes most EU nationals, so check the current list before you plan around it. The Holland Scholarship is a partial award, meant to reduce your first-year cost rather than fund a full degree, and it only applies if you hold a non-EU or non-EEA passport.
What each application process expects from you
Erasmus Mundus consortiums select candidates through a joint committee that reviews your full academic transcript, a motivation letter tailored to the specific program, and usually two academic references, then ranks applicants against that program's own published criteria. Apply directly through the individual joint program's own portal, not a general Erasmus Mundus office, since each consortium sets its own deadline and selection process.
DAAD splits its master's funding across dozens of individual programs by subject and sometimes by home country, so search its database for the specific course type you want rather than treating it as one general scholarship. The Swedish Institute's Global Professionals scholarship targets applicants with some work experience and leadership potential rather than students moving straight from a bachelor's degree, so check the current applicant profile before you commit time to it.
Funding amount is not the only cost factor
A higher monthly allowance does not guarantee an easier budget. Amsterdam and Paris cost noticeably more to live in than Warsaw or Porto, so weigh a scholarship's amount against your specific destination's living costs, not only the headline euro figure. An Erasmus Mundus program split across a lower-cost country and a higher-cost one averages out differently than a national scholarship tied to a single city.
Which route fits your situation
Choose Erasmus Mundus if you want full funding without a separate tuition search, you are open to living in two or more countries during your degree, and you commit significant time to a competitive, detailed application built around a joint program's own selection criteria.
Choose a national scholarship if you already have a specific university or country in mind, you would rather stay in one place for the full degree, or you fall inside a scheme's specific nationality or subject requirements that give you a real chance of selection.
Can you apply for more than one at the same time
Apply to as many of these programs as your eligibility allows, since applying does not commit you to accepting an offer. Most scholarships prevent you from holding two funded offers at once, so once you accept one, decline or withdraw the others so another applicant on the waiting list has a chance. Keep a simple tracker of deadlines, since Erasmus Mundus, DAAD, and national scholarship calendars rarely line up, and a missed document deadline for one does not extend the others.
How to apply
Search the Erasmus Mundus catalogue directly through the EU's official course database, since each joint program runs its own selection process and deadline.
Apply to DAAD through the subject-specific program listed in its database, since eligibility depends on your field and sometimes your home country.
Check the Swedish Institute's current eligible-country list before you start an application, since it changes from year to year.
Treat the Holland Scholarship as a top-up, and line up a second funding source for the rest of your tuition and living costs.