Most universities offer scholarships for MSc students to support them in their studies. These are usually merit-based, given to students with a high academic record or exceptional research potential. Need-based scholarships are also offered by some universities to support students who come from an economically disadvantaged background. Some areas, such as science, technology, engineering, and mathematics (STEM), may have specific scholarships to encourage more students in those fields.
Besides the scholarship of MSc students based at universities, some are provided by governments, international organizations, or private foundations for students. These scholarships can cover full or partial payment for tuition fees, living expenses, and research costs. A few scholarships are being cooperated with industry leaders as incentives for innovation and research. It is therefore important to research scholarship availability before application because the eligibility requirements and processes may differ, and deadlines may differ.