Criteria for students’ scholarships or Financial Aid
The scholarships granted by the CBS concern the total or partial exemption of students from tuition fees for the academic year or the awarding of a bursary for outstanding academic performance.
Financial aid is granted on the basis of financial, social and academic criteria and within the framework of the relevant provision of the annual budget of the Institute.
The financial criteria relate to the applicant's financial condition and, in case the applicant is married, the taxable income of both spouses is taken into account.
The social criteria concern:
- the marital status of the student.
- the number of the student's children who are regarded as protected members.
- the family income under income tax law.
- the disability of the student, spouse or children or other members of the student's family for whom he/she is a family guardian.
- the single parent family.
- the family guardian (single student who is a family protector).
- the children of a large family.
- any siblings that are students.
The academic criteria relate to:
- the school certificate grade, for first-year students.
- the performance in the modules they have chosen for the academic year they attend.
- the diploma degree, for undergraduate students.
In particular, the CBS offers a discount on the tuition fees in the following cases:
(a) To students who are members of a family with many children (3 children and above):
- Discount of 10% for all years of study, provided they are consistent concerning their obligations (timely payment of tuition fees, regular attendance and good records), upon presenting the identity of a member of a family with many members.
- Large family with 2 children studying at the IBS’: 10% discount is granted to the first child and 15% discount for the second child.
When two siblings are attending IBS’ academic programs, up to 5% of the tuition fees for each student are deducted.
(c) Registered students:
The IBS wishes to support students (in the 2nd, 3rd or 4th year) who display excellence both in conduct and in their performance (general score 90/100 and above); therefore it grants a scholarship or partial scholarship to a number of students with the above criteria. The amount of the scholarship awarded is deducted from the tuition fees of the following academic year.
Tuition fees discounts, based on student performance, are not paid in cash, but are deducted from the tuition fees of the next semester.