At present, GSEFM does not charge tuition for students enrolled in its degree programs on a full-time basis. There is a university-mandated registration fee of approximately 377 Euro, to be paid to Goethe University’s central administration each semester. Payment of this fee inter alia entitles students to unlimited use of public transportation services in the Rhine-Main region and beyond for the entire semester, and to visit museums in Frankfurt and Offenbach free of charge.

Financial Aid

Thanks to the generous support by various institutions, GSEFM can grant financial aid for a limited number of incoming Ph.D. students.

All Ph.D. program applicants who in the application portal check the box "My application is for 'Ph.D. and MSQ', and I request to be considered for financial aid" are considered for financial aid in the form of a stipend or scholarship for the first year of studies. These stipends and scholarships are granted by the GSEFM Ph.D. programs and the institutional partners listed below to students selected on a competitive basis. Given that some of these forms of funding are restricted to specific groups of applicants, it is important to carefully check your eligibility.

Chair of Macroeconomics and Development (CMD)
The CMD stipend program is open for applicants for the Ph.D. Program in Economics who are interested in pursuing research in quantitative macroeconomics, labor, development, and gender economics. Research assistant positions can be offered after successful completion of the qualifying examinations. Please consult the CMD website for detailed information about the research areas of CMD.

German Academic Exchange Service (DAAD)
The DAAD “Graduate School Scholarship Programme” (GSSP) stipend program is open for international applicants for the Ph.D. Program in Accounting, the Ph.D. Program in Economics, the Ph.D. Program in Finance and the Ph.D. Program in Marketing who did not reside in Germany for more than 15 months prior to beginning of studies at GSEFM. The GSSP program provides a scholarship for up to four years of Ph.D. program studies. Please note that application for the GSSP program must occur through GSEFM, and cannot occur with DAAD directly.

Institute for Monetary and Financial Stability (IMFS)
The IMFS stipend program is open for applicants for the Ph.D. Program in Economics who are interested in pursuing research in quantitative macroeconomic modelling, macroeconomic model comparison and/or monetary economics. Up to three first-year stipends may be awarded. Student assistant positions as well as teaching and research assistant positions can be offered after successful completion of the qualifying examinations. Please consult the IMFS website for detailed information about the research areas of IMFS.

Interdisciplinary Public Policy (IPP)
The IPP is an interdisciplinary research unit at Johannes Gutenberg University Mainz. It offers funding for one excellent GSEFM candidate in the Ph.D. Program in Economics. The candidate should be interested in pursuing research in the broad field of public policy, involving many sub-fields such as applied microeconomics, behavioral economics, economics of education, international economics, macroeconomics and public economics. The IPP also runs a new state-of-the art experimental laboratory and regularly offers summer schools and workshops with instructors and participants from all over the world. For further information, please consult the IPP website.

Leibniz Institute for Financial Research SAFE
SAFE offers funding for up to three excellent GSEFM candidates for the entire duration of the program, including a monthly grant in the first year and a student/research assistant position after successfully completing the qualifying examinations. The SAFE funding program is open to applicants for the Ph.D. Program in Finance as well as to candidates for the Ph.D. Program in Economics who pursue finance as one field in their studies. SAFE will give preference to female applicants in case of equal qualification.

Some of the stipend programs require submission of additional documents beyond those required as part of the admissions process, or involve interviews. In these cases, applicants nominated by the admissions committee will be guided through the steps of the selection process. As all financial aid may be awarded during the first or second stage of the admissions process, GSEFM strongly recommends to submit applications by January 31 or March 31 of the calendar year for which admission is being sought, and whenever possible indeed by January 31.

In addition to the aforementioned funding options that can fully cover the estimated cost of living, all eligible GSEFM students enrolled in the MSQ program (even if "MSQ only") are encouraged to apply for a "Deutschlandstipendium", a scholarship program that grants a monthly stipend in the amount of about 300 Euro, and is awarded on a competitive basis to students from all faculties of Goethe University.

Finally, there are various external scholarship programs for which GSEFM students may apply, irrespective of the program they are enrolled in. Sources of such funding include individual stipend programs of the German Academic Exchange Service as well as of leading German foundations such as Studienstiftung des Deutschen Volkes, Stiftung Geld und Währung, and foundations of the main German political parties and interest groups supported by Germany's Federal Ministry of Education and Research through its "Begabtenförderungswerke" program. The Student Services Office offers Ph.D. students personalized support for the submission of applications for these and other scholarships.

Please take into account that typically it is not possible in Germany to simultaneously receive more than one publicly-funded scholarship.