Scholarship Loan Program 

COLFUTURO supports Colombian professionals who dream of transforming their future by carrying out a master’s program, a Ph.D., or a specialization in the area of health, in universities enjoying the highest academic rankings in the world. 

This collaborative project is made possible due to our close cooperation with the Colombian Government, through the Ministry of Science, Technology, and Innovation, the leading corporations in the country, and the beneficiaries who, upon returning, contribute with their knowledge to future generations.

COLFUTURO finances full-time, residential programs abroad, with a duration ranging between 9 and 24 months, through a loan of up to US$50,000, 80% of which may become a grant. The beneficiary of the program has the autonomy to use the amount requested to cover tuition, insurance, accommodation, materials, and living expenses.

To be eligible for the scholarship, the awardees must return to Colombia and remain in the country for three years, meeting the following requirements:

  • Graduate from an MBA, business program or a law program, to obtain a 20% waiver.
  • Graduate in other areas of knowledge, or from a Ph.D., to obtain a 40% waiver.

Due to additional funds, beneficiaries may increase the percentage of the loan that is waived as follows:

  • A 20% deduction by working as a full-time public official or as a teacher or researcher in an educational institution (10% during the first year, 5% during the second year, and 5% during the third year). 
  • A 20% deduction be working in a region of Colombia outside Bogota and its metropolitan area (10% during the first year, 5% the second year, and 5% during the third year).

Upon completing their studies within the time established, beneficiaries have the right to a grace period before making their initial payments. 

Programs supported by the National Government

The first cooperation agreement between the Ministry of National Education and the Colombian Institute for Educational Loans and Technical Studies Abroad (Icetex for its Spanish acronym) and COLFUTURO was signed in 2007. One year later, this agreement was renewed in partnership with Colciencias, now the Ministry of Science, Icetex, and COLFUTURO.

In 2009, the National Government agreed to assume, for nine years, the cost of the program that was to be forgiven through the grant portion provided to those professionals selected in the Scholarship Loan Program.

A new loan forgiveness scheme for the PCB was established in 2017, which amended Conpes 3862 of 2016, which had, in turn, amended Conpes 3835 of 2015. According to the new program, the Government committed to contributing COP$698 billion to support COLFUTURO’s growth until 2025.

Selection process 2023

COLFUTURO is founded on a rigorous selection process based on the academic excellence of the candidates and the characteristics of the graduate programs they apply to.

In the following, we provide a detailed explanation of the evaluation process and the factors considered in the selection of the top professionals.

We also present this year’s statistics and the more than 70 experts who participate in area committees and the evaluation of essays.

2023 Results 

In the 2023 digital selection yearbook, you can find all the information about this year’s beneficiaries, including their academic profiles, fields of study, and the programs they will pursue with the support of COLFUTURO. You can filter them by subject, country, city, or university of destination. 

Digital Selection Yearbook 2023

Scholarships and discounts for Loan Scholarship Program (PCB) beneficiaries

With the existing agreements we have entered with universities abroad, our beneficiaries gain access to scholarships and additional financial aid, ranging from 100 % to 10 % of the tuition fee.

Click here to view here.

Why choose COLFUTURO’s Loan Scholarship Program?

  • You select the program and the country where you wish to study.
  • There is no age limit.
  • You may participate if you’re going to start or continue your studies.
  • If you already live abroad, you may also apply to our summons.
  • We allow co-financing.
  • You decide how to distribute the amount of the loan.
  • You may access scholarships and additional discounts due to our more than 120 agreements entered, with universities abroad.
  • Upon completing your program, you’ll have a one-year grace period to begin payment.
  • You may stay abroad for up to 3 years and then return to Colombia to fulfill your permanence in the country.
  • You have 6 years to fulfill your permanence in Colombia, in a continuous or discontinuous manner.
  • You are part of COLFUTURO’s beneficiaries’ network, which enables you to create links, make valuable contacts and access labor opportunities that drive personal and professional growth.