Financing your studies: scholarships, aid and student loans

HEYME student health insurance

Registration and tuition fees, rent, transport, food… Financing your studies is not an easy task. Overview of the different possible financing solutions!

Student budget: key figures

According to a survey conducted by HEYME (Smerep link), French students live on average on €382 per month, 51% of them coming from parental assistance.

Of this budget, only 3% is used for health, 26% for meals, 20% for housing and 17% for outings.

Financial aid to finance your studies

According to a survey by the CSA Research institute, it takes an average budget of €7,118 per year to finance one’s studies. This figure tends to change, depending on the course chosen, i.e.:

  • €6,473 for public university courses;
  • €9,733 for engineering schools;
  • €10,735 for business schools.

Do these amounts give you goosebumps? Rest assured, several complementary solutions are possible depending on your needs.

HEYME student health insurance

Scholarship based on social criteria

The scholarship on social criteria is provided after evaluation of the financial situation of your parents, but also the geographical distance between the establishment of studies and the place of residence. The annual amount of

scholarship varies according to the levels (from 0 to bis 7). For the 2018/2019 academic year, the scholarships ranged from €1009 to €5551 per year.

Where to apply: at the Regional Center for University and School Works (CROUS) in the region.

Grants from external foundations

It may be that you are not eligible for scholarships based on social criteria or that you are opting for a course not covered by financial aid. No stress, there are always alternatives to finance your studies!

External foundations can be of great support. They offer financial aid from companies, individuals or the Fondation de France. Remember these few addresses and above all respect the deadlines!

Foundation Target Deadline
Jacques Lambert Foundation Young people admitted to the first year of business school. The scholarships finance the 1st year of study in the school up to 2500€. You must contact the establishment where you are accepted.
DFCG Foundation Young students encountering financial difficulties wishing to enter the finance professions. Files to be sent before September 15th.
Objective Grandes Ecoles Foundation, 6 rue de Savoie Paris Deserving young students who want to enter a Grande Ecole. The scholarship finances the 5 years of study. Files to be sent from December 1 to March 15.

Merit aid

Intended for “little geniuses”, merit aid offers high school graduates with a TB mention and benefiting from a grant based on social criteria, a sum of €900 per year, over a maximum of 36 months.

The integration of a higher establishment at the next start of the school year and the student social file (DSE) are two required procedures.

Public Service Diversity Allowances

In order to financially help the most brilliant candidates to prepare for the civil service competitions, dedicated allowances are allocated, for 1 year. The choice of beneficiaries depends on two criteria: financial situation and student background.

For 2018/2019, the amount of the allowances was €2,000 and was paid in two stages: 50% around September, and 50% in February 2019.

emergency help

Up to €4,778, it is dedicated to students under 35 with financial difficulties.

Mobility assistance for registration in Master 1

Scholarship students of any age, who have just obtained their license and who wish to enroll in a Master 1 in another region can benefit from a scholarship of 1000€. Just contact the Regional Center for University and School Works (CROUS) in your city and follow the steps.

Other ways to finance your studies

What if all these scholarships do not match your profile?

State-guaranteed student loan

A student loan can be a financing alternative, but be careful, you should not jump in headlong. A loan is a long-term commitment. Such a decision cannot be taken in a hurry!

Before you start, you have to go around the banks and find the most advantageous / suitable offer. Beware of tempting offers, they may include hidden costs! Do not hesitate to ask questions and highlight your fears to obtain the clearest information possible.

Here are the main eligibility requirements:

  • Beneficiaries: young students under 28 years old.
  • Level of education: graduates (or equivalent diploma) enrolled in a higher education cycle.
  • Possible student loan amount: €15,000

Student job for financial autonomy!

Thanks to “student” contracts of 5 to 20 hours per week, working part-time while pursuing higher education is quite possible.

You can find a little job here:

HEYME Civil Liability Insurance

Budget management: key points

Do you remember your “unnecessary” purchases? Yes, no one is perfect. From time to time you have to know how to have fun. To avoid breaking the bank and keep a fair balance, here are some “tips”:

  • Prioritize savings over loans
  • Organizes expenses by type (fixed and occasional).
  • Take a step back and eliminate uselessness!

Budget tracking applications, such as Prixing or Expense manager can also make your life easier:

  • Pricing : Shopping in a supermarket while watching your wallet? Hmm, hard to resist promotional offers. But at what price, exactly? Prixing steps in to save your bank account!
  • Expense Manager : So that’s the “next level” of budget management! This app is used to create payment alerts and establish a daily, weekly, monthly and even … annual budget! In short, all purchases go under the magnifying glass.

HEYME civil liability insurance

For 13 €/year, HEYME Civil Liability insurance covers bodily, material and immaterial damage caused to a third party during your studies, your internships in France and abroad or during the practice of one-off activities such as babysitting or tutoring lessons. If you’re a medical student, so are your guards at the hospital!

Your contract takes effect upon subscription and you receive your certificate immediately by email.

👉 HEYME Civil Liability Insurance

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