A university degree at an internationally recognized business school can be hard to afford for many ambitious, hard-working and talented prospective students. We, at Varna University of Management, believe that motivation and desire to grow should be encouraged.

That is why we have tried to keep our tuition fees at a very acceptable level. VUM in partnership with business owners and entrepreneurs has introduced a number of opportunities such as admissions scholarship, scholarship for excellent results, for extracurricular activities and sports achievements. VUM has also introduced a payment in installments scheme in order to provide as many committed to success future business leaders and software engineers as possible!

Bachelor Degree Programmes

Tuition Fee - 1950 Euro per semester
Duration of study: 6-8 semesters
Starting Dates: October/ February
Location of study: Varna, Dobrich, Sofia (depending on the study program)

Master Degree Programs

Tuition Fee - 4950 Euro for the entire course of study
Duration of study: 3 semesters*
Starting Dates: October
Location of study: Varna

*There is an additional 4th semester for students who had obtained a Bachelor's Degree in a different field of science

Master of Business Administration (MBA)

Tuition Fee: 5850 Euro for the entire course of study
Duration of study: 3 semesters*
Starting Dates: October
Location of study: Varna, Sofia

*There is an additional 4th semester for students who had obtained a Bachelor's Degree in a different field of science

VUM with the support of its business partners offers two general types of scholarships for newly accepted students and for current students upon completion of semester one.
We, at Varna University of Management, believe that motivation and desire to grow should be encouraged.

 

VUM enables students, who achieve good results on the admission exams to receive a scholarship in the first year of study. We take into consideration your academic credentials from your high school diploma, English language exam results and motivation demonstrated during your admissions interview. In the first semester, students can apply for a scholarship up to 1,000, as the exact amount is determined by the result gained on the English exam (certificate) or SAT and motivational interview.
Check your chances for a scholarship and the provisional amount you may receive HERE.
Prospective students with good score on internationally recognized English language tests, such as SAT Reasoning test, TOEFL, IELTS, PTE, FCE. etc., see table below might apply for a scholarship from EUR1100 to EUR1500 for their first semester of education. The scholarship is awarded based on ranking related to the average points from the international recognised English language test as a percentage from the maximum score as follows:

Points SAT Reasoning Test from two sections Ranking related to the average points from the international recognized English language tests as a percentage from the max. score: Scholarship for the first semester
over 1300 €1500
from 1200 to 1299 €1300
from 1100 to 1199 above 95% €1100
from 1000 to 1099 from 90% to 95% €900
from 900 to 999 from 80% to 90% €750
to 899 from 70% to 80% €500*
from 60% to 70% €250*
Ranking related to the average grades from the previous acadeic semester Scholarship according to the academic achievements fro the previous academic semester Scholarship for active participation in the life of VUM and other iniatives and contributions(incl. Special European scholarship*) Total amount of the scholarships
the top 5% €800 €100(€100) €1000(€2000)*
from 6% to 10% €600 €100(€100) €800
from 11% to 20% €400 €100(€100) €600
from 21% to 40% €300 €100(€100) €500
from 41% to 60% €200 €100(€100) €400
from 61% to 80% 0 €100(€100) €200
above 80% 0 €100(€100) 0

Scholarships for current students upon completion of semester one

There are scholarships available after the first semester, for full time students in the undergraduate programmes.

After the first semester all students are eligible to receive a scholarship, which is calculated according to the result from the examination of the previous two semesters (second semester scholarship is calculated on the basis of the success during the first semester).

Students are ranked by their academic performance according to the year and field of study. After the payment of the full amount of the tuition fee the scholarship is paid on monthly instalments, within five months of each semester to the bank account provided by the student.

Example: a student in the fourth semester is awarded with a scholarship based on his academic performance of the second and third semester. A student in a second semester scholarship is based on the ranking success of his first semester.

Students qualify for scholarships according to their academic performance as follows:

*According to the conditions of European scholarships and awards these scholarships and awards are not guaranteed - the student must apply independently and be approved by the Ministry of Education. The students are entitled to use the scholarship of the month in which they are paid the tuition fee in full, according to the terms of payment for the relevant academic year.

In the ranking of academic performance students cannot participate with failed exams of the previous two semesters

Students loan

If you are a citizen of a country, member of the European Union or the European Economic Area, you are applying for a Bachelors or Master's Degree and have not previously obtained such a degree level and you have no turned the age of 35, we highly recommend you to apply for a Student's Loan - low interest student loan guaranteed by the Republic of Bulgaria. There are many advantages of paying for university and even covering your daily expenses with a state-guaranteed loan.

Refer your payments to the following bank accounts for paying your Accommodation Fee and Tuition Fee:

Account holder: Varna University of Management (VUM).
Account holder address: 13A Oborishte str. 9000 Varna
Bank name: UNITED BULGARIAN BANK AD
BIC / SWIFT: UBBSBGSF
Bank account in Euro - IBAN: BG52 UBBS 8888 1400 9394 21
Bank account in Bulgarian Levs - IBAN: BG41 UBBS 8888 1000 9114 25
Reason: Payment of accommodation fee/tuition fee…. /name of student, ID card number, specialty, course/
Amount: ……
Account holder: Varna University of Management (VUM)
Account holder address: 13A Oborishte str. 9000 Varna, Bulgaria
Bank name: International Asset Bank
BIC / SWIFT: IABG BGSF
Bank account in Euro - IBAN: BG23 IABG 7495 1400 4891 05
Bank account in Bulgarian Levs - IBAN: BG57 IABG 7495 1000 4891 08
Reason: Payment of accommodation fee/tuition fee…. /name of student, ID card number, specialty, course/
Amount: ……