2015-2016 Saltire Fellowship Financial Assistance Information
The Saltire Fellowship was founded on the premise that Scotland needs business leaders
with a global and entrepreneurial mind-set.
The Saltire Foundation:
 Operates an admissions process that is independent of financial considerations;
 Creates bespoke financial assistance packages for each candidate’s needs.
Becoming a Saltire Fellow is an investment in yourself and in your future.
The Saltire Foundation is committed to helping you explore financing options so you may
make informed decisions. Now more than ever, we believe it is important to approach
financing your education as a long-term vision and consider the value of the Saltire
Fellowship in the context of your personal and professional goals.
Value for Money
The Saltire Fellowship proves its value for money compared to other Executive Education
Programmes. By comparison, tuition for other programmes are:
INSEAD Global Executive
MBA, €95,000 (£79,383)
Harvard MBA, $102,400
(£64,609)
IMD Executive MBA, CHF
$105,000 (£72,832)
Oxford Executive MBA,
£59,750
University of Edinburgh
MBA, £27,100
Saltire Fellowship £29,750
How Assistance is Determined
Financial aid is determined on the basis of financial need. Upon being offered a place on the
Fellowship, you will be sent a bursary application form. The following factors are taken into
consideration:
 Annual income
 Number of dependents
 Net Assets
 Other extenuating circumstances
All financial assistance applications are processed on a case-by-case basis and are thereafter
anonymised and sent to the Saltire Foundation Trustees for final approval to ensure
consistency in the approach.
Types of Assistance Offered

Bursary: Does not require repayment. A number of Saltire Foundation bursaries are
available to cover between 20% and 80% of the programme fees and included costs
(see below). Please note bursaries are likely to have conditions attached, for
example to work in Scotland or for a Scottish HQed business for a given period post
1


Fellowship. All Open Enrolment Fellows will receive a guaranteed bursary of a
minimum of £3,000.
Deferred Payment: A percentage of the cost of the Fellowship to be repaid in the
years following the Fellowship.
External Funding: The Foundation will support you with applications made to third
party sources for funding or loans.
Other Funding Opportunities
The Saltire Foundation receives external funding for specific scholarships (such as an HIE
Scholarship, Diageo Funding) and accepted Fellows are eligible to compete for this
additional funding (which could increase financial support up to 90% of total costs). Keep
checking the Saltire Foundation website for information on funding opportunities.
.
Estimated Costs Saltire Fellowship Programme
Tuition and fees
Housing
Flights
Transportation
Health Insurance
China Programme4
Total
£29,750
£7,3501
£1000
£10002
£2003
£3,000
£42,300
*There will be a stipend to cover living expenses for Scottish based project (estimate
£300/week for 12 week placement). Day-to-day living costs in Boston are estimated at
£150/week. There will also be an additional J1 Visa fee (£120) and cost to travel to
London/Belfast for visa interview (£100-250).
Payment Timelines
Deposit: A 10% deposit of the Programme Fee and Costs (£4,230) is due within 4 weeks of
receipt of your financial assistance package. A £100 discount will apply to your payment
balance should you choose this option instead of paying in instalments.
Payment Balance: The balance of your payment is due on 30 May 2015.
Payment in Instalments: Fellows will have the option to pay in monthly instalments
between the date of the offer and the final payment deadline of 30 June 2015.
Housing expenses for Boston based learning experiences and are subject to change. Excludes
housing expenses during Scotland-based placement and China.
2 Transportation costs for Boston only.
3 Personal Insurance is not covered.
4 China programme is optional. Financial assistance is available for the China programme on
same basis as other programme costs. China programme fee covers flights, accommodation,
ground transportation and many meals.
1
2
China Payment: You will be offered a separate financial assistance package for China with
the payment due on 30 June 2015.
Deferred Payment: You deferred payment will be due 2 years from your graduation.
3