Get Paid $40,000 to Study Abroad: 15 Scholarships That Cover Tuition, Housing and Living Expenses

Studying abroad can cost tens of thousands of dollars each year once you combine tuition, accommodation, food, transportation, insurance and flights. But you do not always have to pay those costs yourself.

The important distinction is that these scholarships do not normally “pay you a $40,000 salary.” Instead, the total financial value of the scholarship can reach or exceed $40,000 when tuition, living expenses, accommodation, travel and other benefits are added together. Some awards provide annual stipends worth tens of thousands of dollars, while others cover tuition directly and provide additional money for living expenses.

In this guide, you will discover 15 major international scholarships, what they cover, who can apply, what level of study they support, and how to find the official application route. You will also learn how to build a stronger application and avoid common scholarship mistakes.

What Does “Get Paid $40,000 to Study Abroad” Actually Mean?

“Get paid $40,000 to study abroad” is best understood as a description of the potential financial value of a fully funded scholarship, rather than a promise that every successful student receives $40,000 in cash.

A fully funded scholarship generally covers some or all of the following:

University tuition fees
Monthly living allowance or stipend
Accommodation or housing allowance
Health insurance
Airfare
Visa-related expenses
Books and study materials
Relocation or establishment allowance
Research or conference funding

For example, Stanford’s Knight-Hennessy Scholars program provides funding for tuition and associated fees, a stipend for living and academic expenses such as room and board, and a travel stipend.

Similarly, the University of Melbourne’s Graduate Research Scholarships can provide a full fee offset and a living allowance of A$39,500 per year for 2026, depending on the scholarship and degree.

Therefore, a scholarship can easily have a total value above $40,000 when tuition and living costs are combined, particularly in countries such as the United States, United Kingdom, Australia and Switzerland.

The key point: you should look at the total funding package, not just the cash stipend.

Get Paid $40,000 to Study Abroad With These 15 Scholarships

The scholarships below are among the strongest options for international students. However, their eligibility rules, deadlines and funding packages differ considerably.

Scholarship	Country/Region	Study Level	Main Funding	Housing/Living Support
Chevening	UK	Master’s	Tuition, stipend, travel	Stipend covers accommodation/living
Commonwealth Master’s	UK	Master’s	Tuition, stipend, airfare	Living allowance
Erasmus Mundus	Europe	Master’s	Scholarship up to €1,400/month	Living support
DAAD EPOS	Germany	Master’s/selected PhD	Monthly stipend, insurance, travel	Possible rent allowance
MEXT	Japan	Undergraduate/Graduate	Tuition, stipend, airfare	Monthly allowance
Global Korea Scholarship	South Korea	Undergraduate/Graduate	Tuition, airfare, allowances	Living support
Türkiye Scholarships	Türkiye	Bachelor’s/Master’s/PhD	Tuition, stipend, accommodation, airfare	Accommodation included
Stipendium Hungaricum	Hungary	Bachelor’s/Master’s/PhD	Tuition, stipend, accommodation support	Dormitory or housing contribution
Clarendon	UK	Master’s/DPhil	Full fees + living grant	Living grant
Cambridge Trust International	UK	Master’s/PhD	Tuition + maintenance	Maintenance support
Cambridge Africa Changemakers	UK	PhD	Tuition, maintenance, visa, travel	Maintenance support
Knight-Hennessy	USA	Graduate	Tuition + living + travel	Stipend includes room/board
Schwarzman Scholars	China	Master’s	Tuition, room/board, travel, stipend	Room and board included
ETH ESOP	Switzerland	Master’s	Tuition waiver + living/study costs	Living costs covered
Melbourne Graduate Research	Australia	Research Master’s/PhD	Fee offset + living allowance	Living allowance

1. Chevening Scholarships – United Kingdom

The Chevening Scholarship is one of the most recognized UK government-funded scholarships for international students.

It is primarily designed for one-year taught master’s degrees in the United Kingdom.

The award normally includes:

Full tuition fees
Economy return airfare
Monthly personal living allowance
Arrival allowance
Departure allowance
Visa application costs
Travel top-up allowance
Other approved benefits

The Chevening programme specifically states that its monthly stipend is intended to cover accommodation and living expenses.

This makes Chevening particularly attractive for applicants who cannot afford UK tuition and living costs independently.

Best for: Students with strong leadership, professional experience and a clear plan for creating impact after graduation.

How to apply: Apply through the official Chevening application system when the relevant annual application window opens.

Official Chevening Scholarships application information

2. Commonwealth Master’s Scholarships – United Kingdom

The Commonwealth Master’s Scholarship is another major UK funding opportunity for eligible citizens of Commonwealth countries.

The scholarship provides approved tuition fees, airfare and a monthly stipend. The current official information lists a living allowance, with the rate depending on the applicable scholarship terms.

The funding package can also include study travel grants and additional allowances in qualifying circumstances.

Because Nigeria is a Commonwealth country, Nigerian applicants should pay particular attention to Commonwealth Scholarship Commission calls and eligibility requirements.

Best for: Students from eligible Commonwealth countries pursuing development-focused master’s study.

Commonwealth Master’s Scholarships – official application information

3. Erasmus Mundus Joint Masters – Europe

The Erasmus Mundus Joint Masters programme is one of Europe’s best opportunities for students who want to study in multiple countries.

These are integrated master’s programmes delivered by international university partnerships. Students can spend different parts of their degree in different countries.

The EU currently provides scholarships calculated at €1,400 per month for up to 24 months, depending on the programme duration.

That means the scholarship component alone can reach €33,600 over 24 months, before considering the broader benefits and value associated with the programme.

Not every Erasmus Mundus programme has identical arrangements, so applicants must examine the specific master’s programme before applying.

Best for: Students interested in international master’s programmes and studying across multiple European countries.

Erasmus Mundus Joint Masters – official information and application guidance

4. DAAD EPOS Scholarships – Germany

Germany is particularly attractive because many public universities have relatively low tuition compared with countries such as the United States and United Kingdom.

The DAAD Development-Related Postgraduate Courses (EPOS) scholarship goes further by providing financial support to selected international students from eligible developing and emerging countries.

For the current programme information, graduates can receive €992 per month, while doctoral candidates receive €1,400 per month from February 2026, together with insurance and a travel allowance under applicable conditions. Some recipients may also qualify for rent or family allowances.

EPOS programmes generally require applicants to have relevant professional experience; the official database states that eligible graduates normally need at least two years of professional experience.

Best for: Professionals from developing countries who want a development-related postgraduate degree in Germany.

DAAD EPOS scholarship database and application information

5. MEXT Scholarship – Japan

The Japanese Government MEXT Scholarship provides opportunities for international students at several levels, including undergraduate and graduate study.

Official information lists:

Monthly scholarship payments
Tuition exemption
Round-trip airfare

The monthly amount varies according to the category and level of study.

MEXT applications can generally involve either the Japanese Embassy/Consulate route or a university recommendation route, depending on the scholarship category.

Best for: Students interested in Japan, technology, engineering, science, research, business and other academic fields.

Study in Japan – official MEXT Scholarship information

6. Global Korea Scholarship – South Korea

The Global Korea Scholarship (GKS) is funded by the Korean government and supports international students pursuing undergraduate and graduate education in South Korea.

The programme can include:

Airfare
Korean language training
Tuition
Monthly allowances

The official Study in Korea portal confirms funding for both undergraduate and graduate programmes.

For graduate applicants, the programme can cover master’s and doctoral study and includes Korean-language training where applicable.

Best for: Students interested in South Korea, technology, engineering, business, sciences, arts and other disciplines.

Study in Korea – official GKS scholarship information

7. Türkiye Scholarships – Türkiye

The Türkiye Scholarships programme is particularly attractive because it covers several major costs that international students face.

The official programme lists:

Tuition fees
Monthly stipend
Accommodation
Health insurance
One-year Turkish language course
One-time flight ticket
University and programme placement

Current listed monthly stipends are 6,500 TL for undergraduate students, 9,500 TL for master’s students and 13,000 TL for PhD students.

The programme also provides accommodation support, with dormitory arrangements and housing support rules varying according to study level.

Best for: Students seeking undergraduate, master’s or doctoral study with a comprehensive government scholarship package.

Türkiye Scholarships – official application portal

8. Stipendium Hungaricum – Hungary

The Stipendium Hungaricum programme provides international students with tuition-free education and financial support.

For bachelor’s and master’s-level students, the programme currently lists:

Tuition-free education
HUF 43,700 monthly stipend
Free dormitory accommodation or HUF 40,000 monthly accommodation contribution
Medical insurance

Doctoral students receive higher monthly stipends according to the applicable phase of doctoral study.

Importantly, the official programme warns that the stipend and accommodation contribution are contributions rather than guaranteed full coverage of every living expense. Students should therefore budget for additional costs.

Best for: Students seeking affordable European study with government-funded tuition and accommodation assistance.

Stipendium Hungaricum – official application information

9. Clarendon Fund – University of Oxford

The Clarendon Fund is one of Oxford University’s flagship graduate scholarship schemes.

It is open to international applicants across a broad range of disciplines. Successful full-time scholars receive:

Full course fees
Annual living-expense grant

For 2025–26, Oxford states that scholars receive at least £20,780 for living expenses.

There is also an important advantage: you normally do not submit a separate Clarendon application. If you submit your Oxford graduate application by the relevant December or January deadline, you are automatically considered.

Best for: Outstanding students applying for eligible master’s and DPhil programmes at Oxford.

Oxford Clarendon Fund – official scholarship information

10. Cambridge Trust International Scholarship – University of Cambridge

The Cambridge Trust International Scholarship is designed for high-ranking international applicants to Cambridge.

The scholarship can cover:

International tuition fees
Annual maintenance sufficient for a single student
Student visa
Immigration Health Surcharge
Additional benefits depending on the award

Selection considers academic ability, research potential, examination results and references.

The Cambridge Trust says its scholarships can range from part-cost awards to full-cost funding, depending on the specific scholarship.

Best for: Exceptional international applicants targeting master’s and PhD programmes at Cambridge.

Cambridge Trust International Scholarship – official details

11. Cambridge Africa Changemakers Scholarship – University of Cambridge

For African students, the Cambridge Africa Changemakers Scholarship deserves special attention.

It is a full-cost scholarship for PhD applicants from African countries.

The package includes:

International tuition fees
Annual maintenance
Student visa
Immigration Health Surcharge
Travel and research costs

The scholarship is aimed at research that contributes to African development and climate-resilient and sustainable futures.

This is especially valuable for African researchers because the award is specifically designed around the continent’s development needs.

Best for: African PhD applicants whose proposed research has meaningful development relevance.

Cambridge Africa Changemakers Scholarship – official details

12. Knight-Hennessy Scholars – Stanford University

The Knight-Hennessy Scholars programme at Stanford is one of the most generous graduate funding opportunities in the United States.

Scholars receive financial support for up to three years, including:

Tuition and associated fees
Living and academic stipend
Room and board expenses
Books and academic supplies
Local transportation
One annual round-trip travel stipend
Relocation support for newly enrolled scholars

The programme confirms that its stipend is designed to cover expenses such as room and board, books, supplies, transportation and reasonable personal expenses.

Because Stanford graduate education can be extremely expensive, the total value of the award can substantially exceed $40,000.

Best for: Exceptional graduate applicants with leadership potential and a strong record of achievement.

Knight-Hennessy Scholars – official Stanford application information

13. Schwarzman Scholars – Tsinghua University, China

Schwarzman Scholars is a fully funded master’s-level programme at Tsinghua University in Beijing.

The programme covers:

Tuition
Fees
Room and board
Travel to and from Beijing
Study tours
Required books and supplies
Laptop
Health insurance
Personal stipend

The programme itself confirms that these expenses are fully covered.

This is therefore one of the clearest examples of a scholarship where the student receives both education funding and substantial living support.

Best for: Young professionals and graduates with strong academic achievement, leadership potential and an interest in global affairs.

Schwarzman Scholars – official application information

14. ETH Zurich Excellence Scholarship & Opportunity Programme – Switzerland

The ETH Zurich Excellence Scholarship & Opportunity Programme (ESOP) is designed for exceptionally strong master’s applicants.

ETH Zurich states that ESOP covers the student’s full study and living costs during the master’s degree, together with a tuition fee waiver.

For students beginning in the 2027 academic year, ETH currently lists a scholarship of CHF 13,500 per semester, together with the tuition fee waiver.

The application window for the 2027/28 intake is currently scheduled for November 1–30, 2026.

Best for: Top-performing bachelor’s graduates applying for eligible master’s programmes at ETH Zurich.

ETH Zurich ESOP – official scholarship and application information

15. University of Melbourne Graduate Research Scholarships – Australia

The University of Melbourne Graduate Research Scholarship is another strong option for international students.

For 2026, the university lists:

100% fee remission
Living allowance of A$39,500 per year
Potential funding for up to two years for a research master’s
Potential funding for up to 3.5 years for a doctoral degree

The scholarship is available to domestic and international students undertaking eligible graduate research degrees.

The combination of a full tuition offset and a nearly A$40,000 annual living allowance makes this one of the strongest options for students pursuing research degrees.

Best for: High-achieving international students pursuing research master’s and PhD programmes.

University of Melbourne Graduate Research Scholarships – official information

Get Paid $40,000 to Study Abroad: Which Scholarships Are Most Generous?

Not every scholarship on this list will literally hand you $40,000 in cash.

Instead, consider the total value of the award.

For example, an international student receiving a full scholarship at Stanford may have tuition and fees paid directly, while also receiving money for room, board and personal expenses.

At Melbourne, the 2026 living allowance alone is A$39,500 per year, before considering the value of the tuition fee remission.

At ETH Zurich, ESOP combines a substantial living/study allowance with a tuition fee waiver.

Meanwhile, Erasmus Mundus can provide up to €1,400 per month for up to 24 months, which can amount to €33,600 in scholarship support before considering other programme-specific benefits.

This is why comparing scholarships solely by their advertised monthly stipend can be misleading.

The $40,000 calculation

A simple way to calculate scholarship value is:

Total scholarship value = tuition + accommodation + living stipend + airfare + insurance + other allowances

For example:

$25,000 tuition + $12,000 living support + $4,000 accommodation/travel benefits = $41,000 total value.

The student has not necessarily received $41,000 into a bank account. Instead, the scholarship has removed $41,000 worth of educational and living expenses.

How to Apply for a Fully Funded Scholarship

The application process differs by scholarship, but most successful applications follow a similar pattern.

Step 1: Choose your degree and destination

Do not start by applying randomly to every scholarship you find.

First decide:

Your desired degree
Your field of study
Preferred countries
Study level
Career objective
Whether you need a taught master’s, research master’s or PhD

Then identify scholarships that match those requirements.

Step 2: Check eligibility before preparing documents

Read the official requirements carefully.

Check:

Nationality requirements
Academic qualifications
Age restrictions
Work experience
English-language requirements
Degree requirements
Research requirements
Eligible universities
Eligible courses
Application deadlines

For example, DAAD EPOS commonly requires relevant professional experience, while Cambridge and Oxford scholarships may place greater emphasis on academic excellence and research potential.

Step 3: Prepare your academic documents

Common documents include:

International passport
Academic transcripts
Degree certificate
CV/resume
Statement of purpose
Personal statement
Recommendation letters
Research proposal for research degrees
English-language test results where required

Do not wait until the application deadline to request recommendation letters.

Step 4: Write a strong personal statement

A scholarship essay should answer a simple question:

Why should this scholarship invest in you?

A strong statement should connect:

Past experience → current ambition → proposed study → future impact.

Avoid writing a generic essay that could be submitted to any university.

Instead, explain specifically:

What problem you want to solve
Why the degree is necessary
Why that university is suitable
What experience you already have
What you intend to do after graduation
How the scholarship will help you achieve it

Step 5: Apply through the official portal

This is extremely important.

Do not pay an unknown “agent” simply because someone claims they can guarantee a fully funded scholarship.

Use the official university, government or scholarship-provider website.

Some scholarships require a university admission application first. Others combine admission and scholarship consideration.

For example, Oxford says applicants for Clarendon are automatically considered when they submit their graduate application by the relevant deadline.

How to Apply for These $40,000+ Study Abroad Scholarships

Here is the simplest process:

Choose 3–5 scholarships that match your nationality, academic level and course.
Open the official scholarship link listed above.
Check the current eligibility requirements and deadline.
Prepare your transcript, CV, personal statement, references and other required documents.
Apply for university admission where required.
Submit the scholarship application before the deadline.
Monitor your email and applicant portal for interviews, document requests or admission decisions.

Important: Scholarship deadlines change every year. Some 2026 application rounds have already closed, while others for 2027 entry are opening soon. Always verify the current deadline on the official scholarship website before submitting an application.

Can Nigerian Students Apply for These Scholarships?

Yes, Nigerian students are eligible for several scholarships on this list, although eligibility varies by programme and course.

Nigeria is particularly relevant for opportunities such as:

Chevening
Commonwealth Scholarships
Erasmus Mundus
DAAD
MEXT
Global Korea Scholarship
Türkiye Scholarships
Stipendium Hungaricum
Oxford Clarendon
Cambridge scholarships
Stanford Knight-Hennessy
Melbourne research scholarships

However, being from an eligible country does not mean you automatically qualify.

Selection is usually highly competitive. Academic performance, leadership, professional experience, research potential, community involvement, career goals and the quality of the application can all influence the outcome.

How to Increase Your Chances of Winning a Fully Funded Scholarship

Have a clear career story

Your application should make sense from beginning to end.

If you studied economics, have worked in financial services and want to study development economics, for example, your application has a logical progression.

Demonstrate measurable impact

Do not simply write:

“I am a leader.”

Show evidence.

Instead, explain what you led, who benefited and what changed as a result.

For example:

“I coordinated a five-person project that trained 300 students in digital skills over six months.”

Specific evidence is more persuasive than adjectives.

Apply early

Scholarship applications often require several documents and sometimes multiple stages.

Starting early gives you time to:

Improve your statement
Find suitable programmes
Contact potential supervisors
Obtain references
Correct documentation errors
Prepare for interviews

Apply strategically

It is better to submit five excellent, carefully matched applications than 30 rushed applications.

Build a scholarship list containing:

2 highly competitive options
3 realistic options
2–3 backup options

This reduces your dependence on a single scholarship.

Common Mistakes That Can Destroy a Scholarship Application

Applying without checking the course

Some scholarships fund only specific degrees or universities.

Always check whether your chosen programme qualifies.

Using an old personal statement

Your essay should be tailored to the scholarship.

Do not simply replace the university name in the same document.

Ignoring the scholarship’s return-home or service requirements

Some government scholarships have conditions concerning what scholars do after completing their studies. Commonwealth Scholarships, for example, state that scholars are expected to return to their home country at the end of the award, subject to the programme’s rules.

Assuming “fully funded” means absolutely everything is free

This is one of the biggest misconceptions.

A scholarship may cover tuition and provide a stipend while leaving some expenses to the student.

Stipendium Hungaricum, for example, explicitly states that its living and accommodation provisions are contributions and may not cover every living expense.

Always read the official terms.

Frequently Asked Questions

Can I really get $40,000 to study abroad?

Yes, a scholarship package can be worth $40,000 or substantially more, particularly when tuition, accommodation, living expenses, airfare and insurance are included. However, most scholarships do not simply deposit $40,000 into your bank account.

Which scholarship gives the most money?

There is no single answer because funding depends on the country, degree, programme duration and individual scholarship.

Knight-Hennessy, Melbourne Graduate Research Scholarships, Gates Cambridge, ETH ESOP and other major awards can provide very substantial funding packages.

Which fully funded scholarships cover accommodation?

Examples include Türkiye Scholarships, Stipendium Hungaricum and Schwarzman Scholars. Other programmes provide a living stipend intended to cover accommodation rather than arranging housing directly.

Can undergraduate students get fully funded scholarships?

Yes. Türkiye Scholarships, MEXT and the Global Korea Scholarship, among others, provide undergraduate opportunities. Eligibility varies by country, programme and academic year.

Can I apply without IELTS?

Sometimes.

Some universities and scholarships accept alternative proof of English proficiency or previous education conducted in English. Others require IELTS, TOEFL or another approved test.

Do not assume that an English-speaking country automatically waives the requirement. Check the specific university and scholarship rules.

Do I need a first-class degree?

Not always.

Some scholarships are extremely academically competitive, but selection can also consider leadership, professional experience, research potential, development impact and other factors.

However, strong academic results generally improve your competitiveness.

Are fully funded scholarships available for PhD students?

Yes. In fact, PhD applicants often have access to some of the strongest funding packages because universities and governments invest heavily in research.

Examples include Cambridge Africa Changemakers, Cambridge Trust awards, Melbourne Graduate Research Scholarships, DAAD opportunities and Knight-Hennessy for eligible Stanford graduate programmes.

Final Thoughts: Get Paid $40,000 to Study Abroad by Targeting the Right Scholarship

The idea to get paid $40,000 to study abroad is not necessarily clickbait, but it needs to be understood correctly. The strongest scholarships can eliminate tuition fees while providing money for accommodation, food, transportation, insurance, books and international travel. When all those benefits are calculated together, the total value of an award can easily reach or exceed $40,000.

The best opportunities include Chevening, Commonwealth Scholarships, Erasmus Mundus, DAAD EPOS, MEXT, Global Korea Scholarship, Türkiye Scholarships, Stipendium Hungaricum, Oxford Clarendon, Cambridge Trust scholarships, Knight-Hennessy, Schwarzman Scholars, ETH Zurich ESOP and Melbourne Graduate Research Scholarships.

The biggest mistake is waiting until you see a scholarship advertised on social media before starting your preparation. Begin with your academic documents, CV, references, personal statement and target degree. Then use the official scholarship websites to confirm eligibility and deadlines.

Most importantly, do not pay anyone who promises to “guarantee” a scholarship. Legitimate scholarship programmes use formal selection processes, and the safest application route is always the official university, government or scholarship-provider website.

Start with three scholarships from this list that match your academic level and career goals, check their official requirements, and begin preparing your application before the deadline. A fully funded international education can be worth far more than $40,000—and the right scholarship can make it financially possible.