Tuition and Financing

Financing Your Education

There are a number of ways to make the EMBA program at AUBG financially affordable and a sound investment in your future. The most common sources of external financing that help EMBA program applicants achieve their educational goals include employer sponsorships, student/bank loans, savings, and scholarships. Even with corporate sponsorship, undertaking an EMBA program is a major personal investment. It is therefore important that you recognize in advance any financial commitments you are undertaking and plan accordingly. Early planning offers the best opportunity to explore your available funding sources.

Employer Sponsorships

About 50 per cent of EMBA students are recipients of employer sponsorships. The companies that sponsor EMBA students range from local branches of established multi-national corporations to small entrepreneurial local firms.

Government Guaranteed Loans

Raiffeisenbank, DSK Bank, Allianz Bank Bulgaria, PostbankFirst Investment Bank and Bulgarian American Credit Bank provide government-guaranteed loans with fixed interest of 7% per year for Bulgarian and EU students in all accredited Universities in Bulgaria up to the full amount of tuition.

*Important: Raiffeisenbank, DSK Bank, and Postbank are currently offering government-guaranteed loans with interest rate of 6.50%

Applicants for government-guaranteed loans must contact the Student Loan Office via phone or e-mail to get a Loan Certificate, which needs to be presented to the chosen bank.

Please, visit the Bulgarian Ministry of Education and Science's webpage on student loans, or view the brochure here (in Bulgarian only).

Important Information

Students must present loan certificates to the bank every semester, even if they are not going to need the loan tranche for a particular semester.

First semester students must pay their student bill by the respective deadline and they will be able to obtain a loan certificate after the semester has started.

Student Loans

To help prospective students achieve their educational goals, AUBG has developed a loan program exclusively for EMBA applicants to finance their education.


First Investment Bank offers student loans of up to 4,000 Euro. For more detailed information please contact the bank officers at (+359 73) 82 77 16.


Unicredit Bulbank offers to all Bulgarian EMBA AUBG students a student loan up to 5000 leva per the whole period of attendance. More information is also available at the bank’s website www.unicreditbulbank.bg


Societe Generale Expressbank offers to all Bulgarian AUBG students a student loan up to 15,000 BGN per the whole period of attendance. More information is also available at the bank’s website www.sgeb.bg - information in Bulgarian only. 

For more details on the EMBA loan program, please contact the program staff (+ 359 2) 960 7917 and (+ 359 2) 960 7944.

Societe Generale Expressbank offers the following terms, tuned specifically for Executive MBA students:

  • Maximum Amount – up to 25 000 Euro or the equivalent in BGN
  • Repayment period – up to 7 years
  • Interest rate – 4.66% fixed up to 4 years and 5.55% fixed up to 7 years
  •  50% off the annual application fee 
  • No collateral required 
  • Repayments in equal monthly installments 
  • Fast response 
  • Personal approach to every client

Who can apply for this loan:

  • Bulgarian citizens who are employed and receive their salary through a Societe Generale Expressbank account
  • Bulgarian citizens who pay 110% of their monthly installments into a Societe Generale Expressbank account * 

*The loan amount depends on the individual credit score of each borrower (which is formed on the basis of income and indebtedness).Life insurance is mandatory.

For more information: 

Veronica Atanassova – Head Office Prestige Sofia, tel. +359 2 937 05 57
Svetlozar Dimitrov – Manager Business Centre Sofia, tel. +359 2 937 06 02

Personal savings

Investing your money in the Executive MBA programs is among the best options for personal and professional development. Surveys by the Financial Times, Business Week and Forbes show that MBA graduates increase their salary over the next three to five-years. Advanced study has a good return on investment.

Tuition and Fees

Application Fee

The application fee for the EMBA program is 35 Euro and is non-refundable.

Enrollment Confirmation Deposit

The enrollment confirmation deposit for the EMBA program is 200 Euro and is non-refundable.

Tuition Fee

The tuition fee for the EMBA program is 14,800 Euro and covers tuition, study materials, participation in Leadership seminars and networking events, international business trip and access to the AUBG library – electronic and traditional. The total amount can be paid in 4 equal installments of 3,700 Euro.

Payment Deadlines

Fees must be paid on schedule prior to the beginning of each semester.

Late Payment Fee

Students who pay their semester tuition fee after the relevant deadline are subject to a late payment fee of 50 Euro.

Graduation Fee

The graduation fee must be paid prior to participation in the commencement and prior to the release of the final transcript and/or diploma. This fee is based on the costs of the graduation ceremony and is currently 35 Euro.

Refund Policy

If an EMBA student withdraws or takes a leave of absence from the University during the semester, the student remains responsible for tuition according to the following schedule:

  • First week of classes, billed for 40% of the net tuition, prorated for the term
  • After the first week of classes, students are billed for 100% of net tuition, for the term.
Discount Policy

1.       Individual Discounts:

  • 5% discount for individual enrolled or enrolling in the program who “brings” another person to enroll, who also gets 5% discount for the whole length of the EMBA program . They do not have to be in same cohort. (This would only overlap one term maximum); 
  • 5% discount for individual enrolled who pays the whole tuition in total at the beginning of the program.

2.       Corporate Discounts (for enrollees in same cohort):

  • 8% discount if 3-5 enrollees from one company (regardless of payment source)
  • 13% discount for over five enrollees from one company (regardless of payment source)

No more than one discount can be applied to any particular student for the enrollment period.

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