Pursuing a master’s degree abroad is a transformative experience. It provides advanced academic training, international exposure, access to cutting-edge research, and the opportunity to build a global network. However, the cost of graduate education can be a significant barrier for many students. Fortunately, several world-class universities not only offer exceptional academic programs but also provide generous scholarship opportunities to help offset tuition, living expenses, and research costs. In this comprehensive guide, we explore the 10 best universities in the world for master’s degrees with scholarships in 2025. These institutions are selected based on academic excellence, global rankings, available funding opportunities, post-graduate employability, and support for international students.
1. Massachusetts Institute of Technology (MIT), USA
MIT consistently ranks as the top university in the world and offers one of the most dynamic environments for master’s students. Located in Cambridge, Massachusetts, MIT is known for its emphasis on innovation, practical research, and interdisciplinary learning. It offers master’s programs in engineering, computer science, business, economics, architecture, and more.
Scholarships and Funding:
MIT offers several forms of financial aid for graduate students, especially through Research Assistantships (RA) and Teaching Assistantships (TA), which typically cover full tuition and provide a monthly stipend. There are also fellowships such as the Legatum Fellowship, MIT Presidential Fellowships, and external scholarships like Fulbright and Knight-Hennessy (Stanford-based but applicable for MIT joint programs). Students in need of financial support are encouraged to apply for departmental scholarships, which are awarded based on merit and need.
2. Stanford University, USA
Stanford University, located in the heart of Silicon Valley, is one of the most prestigious universities globally. Its master’s programs span across engineering, business (MBA), education, public policy, law, data science, and sustainability. Stanford’s cutting-edge research and entrepreneurial ecosystem make it an ideal place for ambitious graduate students.
Scholarships and Funding:
One of Stanford’s most distinguished scholarship programs is the Knight-Hennessy Scholars Program, which offers full funding for all graduate degrees at Stanford, including tuition, living expenses, and travel stipends. In addition, many schools at Stanford offer fellowships and assistantships. The School of Engineering, for example, supports many of its students through RA/TA positions. MBA candidates can also apply for the Stanford Reliance Dhirubhai Fellowship (for Indian students) and other merit-based awards.
3. University of Oxford, United Kingdom
The University of Oxford is not only one of the oldest universities in the world but also one of the most prestigious for postgraduate studies. Oxford offers a wide range of one- and two-year taught master’s programs (MSc, MPhil, MBA, MSt) across disciplines such as humanities, social sciences, natural sciences, law, business, and more.
Scholarships and Funding:
Oxford offers some of the most competitive and comprehensive scholarship programs in the world. The Clarendon Scholarship is the most well-known, providing full tuition and living stipends for all graduate-level students based on academic merit. Other notable awards include the Rhodes Scholarship, Weidenfeld-Hoffmann Scholarships, Ertegun Graduate Scholarships, and the Commonwealth Scholarships. Many colleges within Oxford also offer their own scholarships for international students.
4. University of Cambridge, United Kingdom
A historic and elite institution, the University of Cambridge is a global leader in graduate education. It offers hundreds of master’s-level programs in science, humanities, economics, education, engineering, and business. Its research culture and personalized teaching model attract high-achieving students from around the globe.
Scholarships and Funding:
The Gates Cambridge Scholarship is one of the most prestigious full scholarships for master’s and PhD students from outside the UK. It covers the full cost of study including tuition, living expenses, airfare, and additional academic allowances. Other notable scholarships include Cambridge Trust Scholarships, Chevening Scholarships, and funding through individual colleges and faculties. Many students also receive Research Assistantships and College Studentships.
5. Harvard University, USA
As one of the most iconic Ivy League institutions, Harvard University offers world-renowned master’s programs across all fields, including law (LLM), business (MBA), public administration (MPA), education (EdM), and science/engineering (MS). Harvard’s graduate schools are known for leadership training, global influence, and academic rigor.
Scholarships and Funding:
Harvard provides significant financial support for graduate students. The Harvard Graduate School of Arts and Sciences (GSAS) offers fellowships and assistantships that often include full tuition and stipends. The Harvard Kennedy School offers numerous public service fellowships. The Harvard Business School offers need-based fellowships and external awards. International students are also eligible for external scholarships like Fulbright, Chevening, and Joint Japan/World Bank Graduate Scholarship Program.
6. ETH Zurich – Swiss Federal Institute of Technology, Switzerland
ETH Zurich is Europe’s top technical university, known for its excellence in engineering, computer science, physics, and environmental science. The institution has a global reputation for innovation and rigorous research. Master’s students enjoy small class sizes and access to world-class labs.
Scholarships and Funding:
ETH Zurich offers the Excellence Scholarship & Opportunity Programme (ESOP) and the ETH-D Scholarship, which cover full tuition, provide living stipends, and sometimes include additional allowances for research and travel. These are merit-based and open to international students. Switzerland’s low tuition costs also make ETH a great value for graduate education, especially for students from developing countries.
7. University of Toronto, Canada
As Canada’s top-ranked university, the University of Toronto (U of T) offers a wide variety of master’s programs across business, engineering, humanities, social sciences, public health, and data science. The university is also known for its world-class research and diversity.
Scholarships and Funding:
U of T offers the Lester B. Pearson International Scholarship, Ontario Graduate Scholarships (OGS), and Vanier Canada Graduate Scholarships (for research-focused students). The School of Graduate Studies also provides admission scholarships, RA/TA opportunities, and fellowships for international students. Canada’s friendly visa policy and high post-graduation employability make it a favorite among global students.
8. Australian National University (ANU), Australia
ANU is Australia’s leading university for postgraduate studies, particularly in areas such as international relations, public policy, environmental science, and computing. Located in Canberra, ANU is a hub for research, government collaboration, and international policy.
Scholarships and Funding:
ANU offers the ANU Global Diversity Scholarship, Research Training Program (RTP) Scholarship, and Endeavour Scholarships. These cover full tuition, living expenses, and insurance for international students. ANU also supports Commonwealth-funded and country-specific scholarships. Its research-oriented master’s programs are often pathways to PhD study.
9. National University of Singapore (NUS), Singapore
NUS is Asia’s top-ranked university and is globally recognized for programs in business, computing, engineering, and life sciences. With Singapore being a tech and financial hub, NUS master’s graduates are highly employable across Asia and beyond.
Scholarships and Funding:
NUS offers the NUS Research Scholarship, Commonwealth Scholarships, and the Asian Development Bank – Japan Scholarship Program (ADB-JSP). These scholarships provide full tuition, living stipends, and travel grants. The NUS Graduate School for Integrative Sciences and Engineering (NGS) also offers fully-funded research scholarships. Singapore’s strategic location and high living standards make NUS a highly attractive choice.
10. University of Melbourne, Australia
The University of Melbourne is one of the most prestigious universities in the Southern Hemisphere, offering strong master’s programs in law, medicine, architecture, data science, education, and environmental studies. Its emphasis on research and global collaboration stands out.
Scholarships and Funding:
Melbourne offers the Melbourne Graduate Research Scholarships, International Graduate Merit Scholarships, and Australia Awards Scholarships. These scholarships often include tuition fee waivers, living allowances, and relocation support. The university also partners with organizations and governments across Asia and Africa to fund graduate students.
Final Thoughts
Choosing the right university for a master’s degree involves more than just academic prestige. It requires careful consideration of the curriculum, research facilities, faculty expertise, industry links, campus culture, and—most importantly—financial accessibility. The ten universities listed above not only offer top-tier academic programs but also ensure that cost is not a barrier for talented and deserving students. Whether you are interested in technology, public policy, healthcare, business, or the humanities, these institutions provide the right blend of academic excellence and scholarship support to launch your global career. In 2025 and beyond, these universities will continue to shape the future by investing in the education of the world’s most promising minds.