How to Finance My Exchange Studies?
Funding of exchange studies
Exchange scholarship from Hanken
All students going on an exchange within the Hanken exchange programme are entitled to a scholarship from Hanken. The scholarships are intended to function as partial financing of the exchange. The amount of the scholarship according to each university and semester can be found in the Mobility Online Portal.
- You can only receive one grant for either exchange studies or an internship during each study level.
- You can only apply for either exchange studies or an internship grant during one application round (December-March).
- Scholarships are not automatically given to students who have already been abroad once within the Hanken exchange programme.
- If you choose to study abroad as a freemover (at a university that is not a partner university of Hanken) you will not be entitled to a scholarship from Hanken
Study grant from FPA/KELA
If you are entitled for a study grant from KELA you can also apply for the grant for exchange studies. More about the study grant on the KELA website.
You can also try to apply for scholarships from foundations and organisations outside Hanken. At Fyrk.fi (in Swedish only) you can find various grant resources.
Erasmus+ additional grant for students with families
Students with families that go on exchange within the Erasmus+ program (i.e. to one of Hanken’s partner universities in another EU-country) may get an additional grant amounting to 200 euro/month. The requirement is that the student is a parent to a child under the age of 18. The additional sum may be granted even if the child stays in Finland during the exchange.
If you would like to apply for this additional grant, you need to be able to prove that you are a parent and you also have to fill in a separate application form. Please contact the International coordinator at Hanken for more information.
Erasmus+ accessibility grant for students with special needs
Special needs or disabilities do not rule out the opportunity of going on exchange. If you do have a special need/disability you need to contact the International Coordinator at Hanken well in advance of applying for an exchange place. This will enable us to sort out which universities would be appropriate for you to choose between.
Students with special needs that go on exchange within the Erasmus+ program (i.e. to one of Hanken’s partner universities in another EU-country) may apply for an accessibility grant for the exchange period (in addition to the Erasmus grant that all Erasmus students get). Please read the information that the Finnish National Agency for Education has compiled about the accessibility grant within the frame of the Erasmus+ program.
You will find information about who is eligible to apply for the accessibility grant, how to apply and a “Checklist for Exchange Students and Higher Education Institutions”. You will also find the application form, which is to be filled in both by you and by the International Coordinator. It will then be sent by the International Coordinator to the Finnish National Agency for Education, who makes the final decision about the approval/disapproval of the application.
Erasmus+ additional grant for green travel
From the autumn semester 2022 onwards, students receiving an Erasmus+ grant can apply for a Green Travel top-up if they use environmentally friendly, sustainable means of transport for their trip to and from their host country. Green travel is defined as travel that uses low-emission modes of transport such as bus, rail, or carpooling. Environmentally friendly mobilities are supported with a one-time top-up of 50 euro and up to 4 days of additional individual support to cover for travel days (approx. 16€/day).
The top-up travel support is paid after the exchange once the student has submitted an application and a receipt or similar evidence confirming the travel arrangements. Please note that the main part of the travel or at least one direction of the round trip has been made using low-emissions means of transport.
How to apply for the Green Travel top-up
When you have paid for all your travel expenses you should fill out the compensation form below. Fill out the fields under Details of green travel and Travel plan. You do not need to fill out the project number. Remember to also sign the form. Please attach all receipts/other evidence of the means of transport to your application.
After you have filled out the form send it as well as the receipts to firstname.lastname@example.org. The application must be sent in by 28 February if you were on exchange during the autumn semester. If you were on exchange during the spring semester it must be sent in by 31 July. The Green Travel top-up is paid to the bank account you specified in Mobility Online.