8 Important questions about the program

1. If an applicant is selected to participate in the ‘Top’ program, what are the subsequent stages?

A contract will be signed with the winners of the “30master” program, under which it is essential to comply with the specified terms throughout the entire period of education funding. Any violation of the key provisions in this mutually signed contract between the funded student and the Bank may result in termination of the funding.

2. What are the key provisions, the violation of which could result in the termination of the agreement

The absence or breach of any of the items specified in the agreement between the Bank and the funded student may constitute grounds for termination of funding or require partial or full repayment to the Bank

• If semi-annual monitoring reveals that the student’s semester or annual GPA falls below a ‘good’ or ‘excellent’ level, this will be taken into consideration
• Absence of the required qualification certificate for graduation from a higher education institution
• The requirement to reside and work in the Republic of Armenia for at least three years after graduation has not been fulfilled
  
  As well as
• The student has independently decided to change universities or to switch specializations within the same university during the funding period
• The student has been expelled from the university during a semester for which funding has already been provided
• While actively participating in the program, applying to another fund or organization for financing without prior consent from the Bank
• If a student pursues a career in the financial and banking sector after completing their education and returning to Armenia, Inecobank will not be their primary choice.
• The above-mentioned and other similar provisions will be individually considered by a committee formed by the Bank

3. How much is the scholarship and what expenses will it cover?

The scholarship awarded to the funded student is up to AMD 40․000․000, covering the basic tuition fee and, in some cases, additional support for accommodation.

The Bank will provide financing for professional education which will last up to two years.

4. Which universities and specialties are eligible for funding?

The Bank recommends pursuing studies at top 5 to 500 international universities, focusing on 8 pre-defined strategic specialties (see the corresponding section on the first page). The list of universities was compiled based on the Shanghai Ranking and QS Ranking rankings.

5. Do I need to have already been accepted to a university to apply for the program

This is the most important component of the program. To participate, you need to have an official confirmation of acceptance from one of the universities on our list.

6. Is it possible to apply for education funding if a student is already studying abroad and wants to receive sponsorship for the next academic semester/year?

Yes, applicants may apply for funding for the second year of their master’s program if they previously resided in Armenia, pursued studies abroad, and are willing to return to their home country upon completing their education.

7. Is it possible to apply to the Bank for tuition reimbursement if the student is already studying abroad and has paid the tuition in full or in part?

Students may only apply for funding for tuition fees that have not yet been paid. The Bank will not reimburse any fees that have already been paid.

8. What obligations do funded students have after receiving the sponsorship?

The Bank will provide a contract in regards to this matter, including all relevant legal obligations.

Other questions?