How to fund your MFin: From scholarships to employer sponsorship

Admissions administrators Heba Gabr and Ben Crabbe fill us in on the key options and give their insider insight on what our we are looking for in scholarship applications. 

From merit and needs-based Cambridge Judge scholarships to funding from University of Cambridge Colleges, it’s well worth looking into scholarship opportunities (for the 2024/25 cohort, 15% of MFin students were funded by scholarships). We’ve pulled out some of the key options below.  

MFin Programme Scholarships and MFin Merit Scholarships

Every year, Cambridge Judge awards MFin Programme Scholarships (worth between £5,000 and £15,000) and MFin Merit Scholarships (worth £5,000) to candidates on the programme. 

Crabbe explains these are offered on a rolling basis throughout the admissions cycle. “Offer holders don’t need to apply for these; they’re automatically considered for them,” he says. 

“The MFin Programme Scholarship is mainly a needs-based award, providing financial support to help strong candidates join the programme who might not otherwise have the means to do so,” he says. “We look at the candidate’s salary and where they’re coming to us from, while also taking into account their academic qualifications and interview feedback.”

“The MFin Merit Scholarship is meanwhile assessed purely on a candidate’s academic background, professional experience and interview performance,” says Gabr, adding that candidates normally need a UK first class undergraduate degree or international equivalent to be eligible.

As well as providing funding, the MFin Merit Scholarship is a great accolade to have on the CV.

Heba Gabr

Regional and Women in Finance Scholarships

Cambridge Judge also offers a Regional Scholarship for future MFin students from under-represented areas (worth £25,000), and a Women in Finance Scholarship for female offer holders demonstrating a commitment to supporting and empowering women in the sector (worth £15,000).

“Again, candidates for both need to hold the equivalent of a UK first class degree and apply by submitting a 300-word application essay to their Admissions Administrator,” says Gabr. “We look at academic and professional background, but the essays can really be the deal-breaker,” she says. “We advise applicants to consider their essays carefully, as we really appreciate candidates who have taken the time to put thought into the questions.” 

“As well as financial support, these scholarships can be a great way to raise a student’s profile,” says Crabbe. “We usually feature our Women in Finance Scholars in an article, as well on social media profile pieces for example, so it can be a really good way to stand out from the competition when it comes to applying for jobs and pursuing future career opportunities.” 

Deadlines

There are 2 application rounds for the Regional and Women in Finance Scholarships. For this year’s candidates, deadlines for the first round closed in February, but a second round of applications is now open until 31 May. Candidates need to have received an offer for the MFin and to have met their offer conditions in order to apply.

College scholarships 

MFin candidates at Cambridge Judge are also eligible for a number of external scholarships, including the Pembroke Fund Scholarship, which is offered by Pembroke College and covers full tuition fees for one selected MFin student (who will then become a member of Pembroke). 

“For the Pembroke Scholarship, applicants need to demonstrate an exceptional academic record and strong professional experience in the finance industry, and to submit an essay that really stands out,” says Gabr. 

“Last year, we had a final class size of 89 and 44 of them applied for the Pembroke Scholarship, so it’s highly competitive,” she says. “The application essays form the basis for our shortlisting process; the shortlist is then passed to Pembroke College for the final decision. So it’s worth putting the effort into your application. Alongside the funding, being a Pembroke Scholar is a great honour and can further boost your future career prospects.”

Alongside Pembroke, St Catharine’s College offers 5 merit-based Benavitch Scholarships worth up to £15,000 and open to MFin and MBA students at Cambridge Judge, with a similar application process. Recipients will become members of St Catharine’s College, located a 5-minute walk from Cambridge Judge Business School and its MCR (the society for graduate students). 

I recommend starting your research early to ensure you meet the deadlines, and looking on our website to find out more about the different opportunities. The University of Cambridge also lists scholarships on its funding page. However, it’s worth checking eligibility for these in advance.

Ben Crabbe

Deadlines

Deadlines for both scholarships are in March each year. Check the MFin fees and funding page for further details.

External scholarships

Beyond the Business School and wider University, many external bodies – from government agencies to non-profit organisations – also offer scholarships for master’s students, so take time to research the different options, recommends Gabr.

“We normally get 2 or 3 students in each cohort who receive funding from Chevening, for example,” she says. “This is an external organisation that offers scholarships to emerging future leaders, specifically for master’s programmes in the UK. We always encourage applicants to do their own research on other eligible external opportunities to assist with funding the programme.”

Employer sponsorship 

Outside of scholarships, there are other ways to get external funding, not least from employers. 

“Around 11% of our cohort last year funded their programme through employer sponsorship, and the majority of these received full funding,” says Crabbe. “Some companies have policies on sponsoring higher education programmes, and even if they don’t have a set policy in place, it’s definitely worth asking.”

Full sponsorship usually comes with a commitment to stay with the company for a certain amount of time, so it’s worth checking on this and negotiating possible changes in role or department.

“Quite a few candidates in the public sector receive full funding through their employer,” he says. “This is possibly open to private sector candidates as well, although full funding from private companies can be trickier to come by.” 

“If you’re approaching your employer, our advice would be to really sell the benefits to the company when you return,” he says. “Talk about the technical skills you’ll gain from the programme, the value of studying at a world-class institution, and how sponsorship is an investment in employee skills as well as the wider company.”

Student loans 

Student loans are another key funding option, from government funding (such as UK postgraduate loans and US federal loans) to loans from private providers. 

“Private loans may be less attractive to candidates at the moment due to high interest rates, but we encourage them to consider it as an investment in their future,” says Gabr. 

“We have a list of loan providers on our website, which specialise in loans for postgraduate students at leading business schools across the world and there may be further opportunities depending on your own country and sector, so again, we recommend doing your research,” says Crabbe.

Self-funding through personal savings

Outside of these avenues, many students support the programme through personal and/or familysavings, says Crabbe. “Of last year’s cohort, 36% were funded by personal savings and 32% were supported by family savings,” he says.  

“Our advice is to start saving early and ensure you have an initial plan to fund your programme as well as a back-up plan if possible. Remember to take into account tuition fees, living expenses and other costs.”

“MFin students at Cambridge Judge on average increase their salaries by 73%, and the programme opens up many opportunities for a career change,” says Gabr. “Last year, 90% switched country, function or sector after completing the MFin. We know it’s a big financial commitment, but we encourage students to think of it as an investment in their future – and one that we hope will pay off in years to come.

“Talk to us if you need any further guidance. We’re here to help make your MFin journey happen.” 

Programme fees overview

Tuition fees

Fees for the 2025/26 Master of Finance programme are £60,000, plus an application fee of £120. 

Living expenses

Taking into account accommodation and other key expenditures, we estimate basic living costs for a full-time student on the 2026/27 MFin to be £19,860.

Payment schedule for tuition fees 

First instalment (10%): Due within a month of receiving your conditional offer.

Second instalment (20%): Due by 1 June, or when your Confirmation of Enrolment(unconditional offer) is made (whichever is latest).

Third instalment (70%): Due by the start of September.

Financial guarantee

It’s important to note you’ll need to provide a financial guarantee at the offer stage in order to be accepted onto the programme.