Hanken school of economics scholarships

Hanken School of Economics Scholarships: Application Guide

Hanken School of Economics Scholarships are available to students who are required to pay tuition. Hanken offers merit-based scholarships. All scholarships are given out following the applicant’s academic achievement from their prior courses and any relevant exam results.

The Hanken School of Economics offers three scholarships. They are:

  • Hanken Premium GBSN Scholarship
  • Hanken Honors Scholarship
  • Finland Scholarship

Who sponsors Hanken School of Economics Scholarships?

The scholarships given to students at Hanken School of Economics are divided into two categories based on sponsorship. They are:

  • Scholarships sponsored by Hanken School of Economics: The scholarships under this category include; Hanken Premium GBSN Scholarship and Hanken Honors Scholarship.
  • Scholarships sponsored by a Governmental Organization: The Finland Scholarship falls under this category.

Overview of Hanken School of Economics 

With more than a century of expertise in economics instruction and research, Hanken School of Economics is a renowned, globally recognized university. Hanken, established in 1909, is the country’s first business school. The university has been awarded the Triple Crown accreditation, which is a quality assurance evaluation conducted by the three main business school accreditation organizations: AACSB, AMBA, and EQUIS. It belongs to the world’s 1% of triple-accredited business schools.

The MSc in Economics and Business Administration Program which the scholarships cover is a two-year program with specializations including:

  • Business and Management
  • Economics 
  • Financial Analysis and Business Development
  • Intellectual Property Law

About Finland 

Finland is one of the northernmost and most distant nations in the world because of its proximity to the Arctic Circle. While the north of Finland has harsh, lengthy winters and brief summers, the southern region experiences rather pleasant weather. It is one of the richest nations in the world and Europe.

The higher education system in Finland is divided into two distinct sectors: universities and polytechnics. Hanken School of Economics is a university that, like the majority of Finnish colleges and universities, provides education in both Swedish and English.

The capital and most populated city of Finland is Helsinki, which is also the location of Hanken’s headquarters. It serves as the primary hub for politics, education, finance, culture, and research in the nation.

Scholarship Benefits

What is the value of the Hanken School of Economics Scholarship?

The value of Hansen School of Economics Scholarships differs according to the type. The Hanken Premium Scholarship covers the full tuition fee for two academic years equivalent to 12,500 EUR/year plus 8,000 EUR per year for living expenses. That is about 20,500 EUR per year. 

What does the Hanken School of Economics Scholarships cover?

Hanken Premium GBSN Scholarship: This scholarship covers the full tuition fee and living expenses worth 8000 EUR per year for two academic years

  • Hanken Honors Scholarship: This scholarship only covers the full tuition fee for two academic years
  • Finland Scholarship: This scholarship also covers the full tuition fee valued at 12,500 EUR for the first academic year plus a 5000 EUR relocation grant. 

How many students are awarded the Hanken School of Economics Scholarships?

Different Hanken School scholarships have different number of eligible candidates each year. However, the Hanken premium GBSN Scholarship is given to only two candidates with outstanding academic performance.


Applicable Courses

Fields of Study Eligible for Hanken School of Economics Scholarships

Hanken School of Economics scholarships are exclusive to the school. Hence, only students studying there can apply for scholarships. This means the fields of study eligible for the Hanken School scholarships are the four major fields in the school; Business and Management, Economics, Financial Analysis and Business Development, and Intellectual Property Law.

Levels of Study Eligible for the Hanken School of Economics Scholarships?

The Hansen School of Economics scholarship is only available for graduate-level students who wish to study for their master’s degree at the Hanken School of Economics.


Eligibility Criteria

To apply for Hanken School of Economics scholarships, you must fulfill the following application conditions:

  • You must hold a Bachelor’s or Master’s degree, equivalent to at least 180 ECTS credits, from an accredited college or polytechnic.
  • If you’re applying for a program specialization or track, your degree program must include at least 30 ECTS in topics related to that specialization or track.
  • Applicants must pass an English language test like IELTS or TOEFL. However, you could be exempted if your secondary education was completed in English and you received your bachelor’s or master’s degree from Australia, Canada, Ireland, New Zealand, the United Kingdom, or the United States. The following grades are necessary for applicants who are applying based on a degree they received outside of the EU/EEA.
  • a minimum total GMAT score of 550 OR 
  • a GRE with a minimum score of 150 on verbal and quantitative reasoning, and a minimum score of 3.5 on the analytical writing portion.

Other eligibility requirements for specific scholarships are seen below;

1. Hanken Premium GBSN Scholarship

You must be a graduate student enrolled at a GBSN member institution in a developing country at the time of application or an alumnus of a GBSN member school to be eligible for the Hanken Premium Scholarship.

Candidates from GBSN member schools in the following countries are eligible to apply:

  • Afghanistan
  • Brazil
  • Cambodia
  • China
  • Colombia
  • Egypt
  • Ghana
  • India
  • Kenya
  • Kyrgyzstan
  • Lebanon
  • Mexico
  • Morocco
  • Nigeria
  • Peru
  • Philippines
  • Pakistan
  • Senegal
  • South Africa
  • Tunisia
  • Turkey

2. Finland Scholarship

The Finland Scholarship assists foreign students from outside the EU/EEA in financing their university education in Finland. 


Fees & Funding

Are the Hanken School of Economics scholarships transferable?

Besides the living allowance provided by the Hansen Premium GBSN Scholarship and the Finland Scholarship, the tuition waiver is not transferable. It is applied directly towards tuition fees at Hansen School of Economics. 

Is there a scholarship for international students at the Hanken School of economics?

Yes, the Finland scholarship is for international students from non-EU/EEA member countries. The list of eligible countries is available above.

Is the Hanken School of Economics Scholarship renewable?

Yes, the Hanken Premium GBSN Scholarship is valid for the duration of the Master’s Degree program, which is two years. However, you must remain in good academic standing for the scholarship to be renewed. 

Is Hanken School of Economics Scholarships only open to master’s degree students?

Yes, the scholarships offered by Hanken School of Economics are only applicable to Master’s students at the institution.

What is the language of instruction at Hanken School of Economics?

The Bachelor’s degree courses at Hanken School of Economics are taught entirely in Swedish while the Master’s and PhD courses are taught in both English and Swedish.

Application Procedure

There is no need to submit a separate application because the Hanken School of Economics Scholarships application is incorporated within the university’s Master’s Degree application. Applicants who are accepted and are awarded a scholarship are notified in their admissions letter and are also provided with more information on the scholarship’s rules in a separate scholarship letter.