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.

We have managed to keep our tuition fees at a very acceptable and stable level due to:

  • Own training places such as the Culinary Arts Institute restaurant and our training travel agency E-Tours
  • Schoarships and grants
  • Great partnerships with business owners and entrepreneurs
  • Equal opportunities and conditions for EU and non-EU students



Newly enrolled undergraduate students

VUM enables students with high results in the admission exams to receive a scholarship in the first year of study. We take into consideration the 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 EUR 1000, as the exact amount is determined by the result achieved in the English language exam (certificate) or SAT and motivational interview.

Scholarships after the first semester at Varna University of Management

Scholarships are available after the first semester, for full-time students at VUM in the undergraduate programmes.
After the first semester the students are eligible to receive a scholarship based on their programme of study and their academic performance 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 four months of each semester to the bank account provided by the student.


Every accepted master degree student can apply for a scholarship during the admission process.
The scholarships available for postgraduate students at VUM are provided by the university or in collaboration with partnering companies and amount up to €1000 for the whole term of education.
The applicants have to present a valid English language certificate (IELTS, TOEFL, PTE, CAE) and have submitted the full set of required documents for the particular programme. The exact scholarship amount is determined according to the English language certificate scoring and availability of scholarships.


Erasmus+ Grants of 8000 EUR for internships in EU countries during Bachelor's and Master’s studies
All of our students are eligible for EUR 8000 Erasmus+ mobility grants within the European Union during their studies.

Varna University of Management is ranked #1 worldwide by U-Multirank (an independent ranking system developed and co-funded by the European Commission) for sutdent mobility.

Tuition fees

Tuition Fee: EUR 1500 per semester
Student Status Fee: EUR 50 (EU nationals), EUR 450 (non-EU nationals) (per semester)
CMU Enrolment Fee: EUR 450 (applicable for 2 semesters, in Year 3)


Tuition Fee: EUR 900 to EUR 1500 per semester
Student Status Fee: EUR 50 (EU nationals), EUR 450 (non-EU nationals) (per semester)
CMU Enrolment Fee: EUR 450 (applicable for 3 semesters)

Student Status Fee, previously Semester Registration Fee

Students loan

Students holding a Bulgarian passport or a passport of one of the European Union member states (plus countries from the European Economic Area) have the right to apply for a student loan for their term of study in Bulgaria.

The requirements are regulated by the Bulgarian legislation and include the following:

  • The student is applying for a Bachelors or Master's Degree and have not previously obtained such a degree level
  • Age up to 35
  • EU or EEA nationality

The loan is state-guaranteed and can be provided by one of the approved bank institutions in Bulgaria, namely:

DSK Bank

First Investment Bank

Raiffeisenbank Bulgaria

Eurobank Bulgaria

Bulgarian American Commercial Bank

Allianz Bank Bulgaria



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, Bulgaria
Bank name: International Asset Bank
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: ……

Job opportunities

The multicultural environment at VUM and our student's knowledge of one or more foreign languages and is definitely an asset during their stay in Bulgaria.
Full-time students can find part-time jobs during their studies and graduates are well prepared and able to find full-time managerial positions in Bulgaria and abroad.

The Career Center at Varna University of Management has been preparing undergraduates, postgraduates, and alumni to make informed decisions about their future by providing resources, programs, and counseling on career development, internships, employment, and continuing education.

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