The Aga Khan Foundation Scholarship Is Not “Fully Funded” — Half of It Is a Loan. Read This First.

Every scholarship guide that lists the Aga Khan Foundation International Scholarship Program describes it as “fully funded.” This is misleading. Before anything else about this scholarship, one structural fact must be clearly understood:

Unlike most scholarships, the AKF ISP is structured as a half grant, half loan arrangement. Recipients must repay 50% of the scholarship amount after completing their studies, creating a revolving fund that supports future scholars.

Half of the scholarship amount is considered as a loan, which must be reimbursed with an annual service charge of 5%. A guarantor is required to co-sign the loan agreement. The payback period is five years, starting six months after the study period funded by the Aga Khan Foundation.

This means:

• 50% of your scholarship = grant (you keep it, no repayment)
• 50% of your scholarship = loan (you repay it, with 5% annual interest, over 5 years)
• You need a guarantor to co-sign the loan

This is not a criticism of the scholarship, it is a genuine opportunity that has supported 1,500+ scholars since 1969. But anyone applying without understanding this structure is not applying with full information.

Aga Khan Foundation’s International Scholarship:

The Aga Khan Foundation’s International Scholarship Program (AKF ISP) is an opportunity for outstanding scholars from selected countries who have no other means of financing their studies, to pursue postgraduate education. Established in 1969, the AKF ISP has supported more than 1,500 students to date.

The second critical fact: this scholarship exists for students who genuinely have no other means of financing their education.

Awards are provided according to need, but please consider the AKF ISP a resource of last resort and secure multiple sources of funding to reduce the amount you request.

Applicants who have not seriously explored all other funding options and cannot demonstrate this exploration are not competitive.

The 2027-28 cycle opens January 1, 2027. The annual deadline is March 31.

Who Was Aga Khan IV — The Person Behind the Program

Established in 1969 by His Late Highness Aga Khan IV, the AKF ISP has supported more than 1,500 students to date.

His Highness Shah Karim al-Hussayni, known as Aga Khan IV, was the 49th hereditary Imam of the Shia Ismaili Muslim community, a spiritual leader followed by approximately 15 million Ismaili Muslims worldwide. Born in Geneva in 1936, he attended Harvard University (Islamic History) before succeeding his grandfather Aga Khan III in 1957 at the age of 20.

Aga Khan IV built one of the world’s largest private development networks, the Aga Khan Development Network (AKDN) operating in 30+ countries across health, education, economic development, culture, and civil society. AKDN employs approximately 110,000 people and is one of the largest employers in several of the countries where it operates.

The scholarship program he established in 1969 reflects a core AKDN principle: the most durable form of development is human development, investing in people who will then invest in their communities.

The 50/50 grant-loan structure is itself a deliberate design. By requiring repayment of half the scholarship, Aga Khan IV created a revolving fund where scholars who receive the award and repay the loan effectively fund the next generation of scholars. The scholarship reproduces itself.

The AKDN — Why It Matters for Your Application

The Aga Khan Development Network operates schools, hospitals, universities, financial institutions, and development programs across South Asia, Central Asia, East Africa, and the Middle East. Many AKF ISP scholars go on to work within AKDN institutions after completing their studies.

The program has empowered over 1,500 scholars to date, focusing on developing capable leaders and professionals who can make meaningful contributions to their communities and the broader Aga Khan Development Network (AKDN) upon returning home.

If you come from a country where AKDN is active Pakistan, Afghanistan, India, Kenya, Tanzania, Uganda, Mozambique, your application will be stronger if you can demonstrate:

• Familiarity with AKDN’s work in your context
• A post-scholarship plan that connects to development challenges AKDN addresses
• A field of study that aligns with AKDN focus areas (health, education, economic development, civil society)

This is not a requirement, but it reflects the scholarship’s purpose.

Eligible Countries — 13 Developing Nations

Citizenship: India, Pakistan, Kenya, Syria, Afghanistan, Egypt, Tajikistan, Kyrgyzstan, Mozambique, Uganda, and Madagascar. Students of these nations are only eligible to apply.

Eligible Countries: India, Bangladesh, Pakistan, Afghanistan, Tajikistan, Kyrgyzstan, Syria, Egypt, Kenya, Tanzania, Uganda, Madagascar, and Mozambique.

Confirmed Eligible Source Countries:

Important: You must be a citizen AND resident of one of these countries. Diaspora from these countries living in Europe, North America, or elsewhere are generally not eligible through the standard process.

What the Scholarship Covers — And Doesn’t Cover

The award covers tuition expenses and student living expenses. It does not cover, for example, the cost of international travel, clothing, furniture, or living expenses for family members.

What Is in this:

What Is NOT:

The 50/50 Loan-Grant Structure in Practice:

If the scholarship awards you $30,000 for your Master’s:

• $15,000 = grant — you never repay this
• $15,000 = loan — you repay this over 5 years starting 6 months after graduation, with 5% annual service charge

The loan repayment is the most significant practical implication for applicants. Before applying, you must be comfortable with the obligation to repay half the award and have a guarantor willing to co-sign.

The “Last Resort” Principle — Financial Need Is Central

Awards are provided according to need, but please consider the AKF ISP a resource of last resort and secure multiple sources of funding to reduce the amount you request.

The AKF ISP is designed to fill the funding gap that remains after all other options have been exhausted. This is not a formality, the selection committee actively evaluates whether you have genuinely sought other funding before applying.

The Foundation expects applicants to have explored all available funding sources before applying. A detailed breakdown of how you plan to finance your studies, showing contributions from family, savings, employer sponsorship, other scholarships, and the AKF ISP, is required.

What “exploring all other sources” means:

• Family financial contribution (however small)
• Personal savings
• Employer sponsorship or study leave support
• Scholarships from the destination country’s government or university
• Other scholarships relevant to your field
• Government scholarships in your home country

Your funding plan must show:

1. Total cost of your program (tuition + living + travel)
2. How much family will contribute
3. How much you have saved
4. Whether your employer will contribute
5. Other scholarships you have applied for
6. The remaining gap — which is what you are requesting from AKF ISP

A student who applies for AKF ISP without having applied for Chevening, Commonwealth, DAAD, or other relevant scholarships will not be competitive. The Foundation must see that AKF ISP is genuinely the funding of last resort not the first scholarship you applied to.

Eligibility — Full Requirements

Preference is given to young professionals under 30 years of age. Candidates should have strong leadership potential, professional experience, extracurricular and/or entrepreneurial achievements, and volunteer contributions.

The program emphasizes academic excellence, genuine financial need, and a clear plan for multi-source funding.

Complete Eligibility:

1. Citizenship + Residence in Eligible Country: Must be a citizen of one of the 13 eligible countries AND currently resident there.

2. Admitted or Applying to Reputable University: Any reputable university or postgraduate institution of higher learning. No restriction on which country you study in USA, France, Canada, Portugal, UK (verify with local office), and other countries. Must be a full-time postgraduate program.

3. Master’s or PhD Level: The Foundation gives priority to requests for Master’s level courses but is willing to consider applications for PhD programs, only in the case of outstanding students who are highly recommended for doctoral studies by their professors and who need a PhD for the fulfilment of their career objectives.

4. No Other Means of Financing: Genuine financial need not merely preference for free funding.

5. Academic Excellence: Outstanding undergraduate record.

6. Age Preference: Under 30: Preference given to young professionals under 30, though not an absolute cutoff.

7. Leadership + Experience: Professional experience, extracurricular and entrepreneurial achievements, volunteer contributions.

8. Guarantor for Loan Someone willing to co-sign the 50% loan obligation.

Application Process — Decentralized, Through Local Office Only

Applications are managed locally through AKF offices or partner contacts in eligible countries, not a centralized online portal for all. Use the AKF ISP Eligibility Tool to confirm eligibility and locate your local contact/office. Obtain the application form from the local AKF representative.

The Key Point: There Is No Global Online Portal

Unlike most scholarships where you apply through a website, AKF ISP works through local offices. This is by design the local office knows the development context, evaluates financial need in local terms, and shortlists based on local knowledge.

In Pakistan: Aga Khan Education Services Pakistan (AKESP) offices in major cities In India: Aga Khan Education Services India (AKESI) In Kenya/Tanzania/Uganda: Local AKF offices In Afghanistan: AKDN/AKF Afghanistan office

Step-by-Step:

Step 1: Confirm eligibility Visit the.akdn.org → International Scholarship Program → use the AKF ISP Eligibility Tool to confirm your country’s local contact.

2: Contact your local AKF office (from January 1) Request the application form directly from your local AKF office, Aga Khan Education Service, or Aga Khan Education Board.

Step 3: Prepare your application Typical documents required:

• Academic transcripts (all degrees)
• Admission letter or proof of application to reputable university
• Financial need statement — detailed breakdown of costs and funding sources
• Multi-source funding plan (showing all other sources explored)
• CV
• Recommendation letters (academic + professional)
• Personal essays on goals, leadership, and community impact
• Guarantor information for the loan component

4: Submit to local office by March 31 Completed applications should be returned to the agency from which the form was obtained. They should not be sent to Geneva. The deadline for submission of applications is 31 March, although in certain countries internal deadlines may be earlier.

Submit to the LOCAL office not AKF Geneva. Check if your country’s internal deadline is earlier than March 31.

Step 5: Local committee review and interview Local AKF committee reviews and shortlists. Shortlisted candidates are interviewed.

Step 6: Global selection June/July Local committees review and shortlist; final global selection occurs in June/July 2027.

Step 7: Results before academic year starts

Annual Application Timeline

Fields of Study — No Subject Restriction (But Development Relevance Helps)

There are no restrictions on the field of study. The AKF ISP supports postgraduate programs across all disciplines at recognized institutions.

However, the scholarship’s mission is development. Applications in fields that connect clearly to development challenges in your home country public health, education, environmental management, economics, engineering, governance tend to be stronger candidates. A program in luxury brand management will be technically eligible but harder to justify in terms of development impact.

Why This Scholarship Is Worth Applying For — Despite the Loan

The 50% loan structure discourages many applicants which paradoxically reduces competition. But consider the actual financial implications:

Example (Master’s at a mid-ranking US university):

• Total program cost: ~$60,000 (tuition + living 2 years)
• AKF grant (50%): $30,000 — you keep
• AKF loan (50%): $30,000 — repay over 5 years = $6,000/year + 5% interest = ~$7,500/year

For a professional returning to Kenya, Pakistan, or Tanzania with an international Master’s degree and a salary reflecting that qualification $7,500/year for 5 years is meaningful but manageable. The alternative no scholarship and $60,000 in debt at market interest rates, or simply not pursuing the degree is often worse.

Additionally:

• The AKDN network is genuinely valuable for careers in development
• 1,500+ alumni is a meaningful community
• AKF’s local offices provide ongoing support
• The scholarship legitimizes your application for other competitive roles

Quick Reference

FAQ

Is the Aga Khan Foundation scholarship fully funded?

No, the AKF ISP is structured as a half grant, half loan arrangement. Recipients must repay 50% of the scholarship amount after completing their studies, with a 5% annual service charge over 5 years.

Which countries are eligible?

India, Pakistan, Kenya, Syria, Afghanistan, Egypt, Tajikistan, Kyrgyzstan, Mozambique, Uganda, and Madagascar. Plus Bangladesh and Tanzania.

What level of study does it support?

The Foundation gives priority to requests for Master’s level courses and may consider PhD for outstanding students who are highly recommended by professors. Short-term courses are not accepted.

Is financial need required?

Yes, AKF ISP is intended as a resource of last resort. Applicants must have explored all other funding sources and demonstrate genuine financial need.

How do I apply?

Obtain the application form from the local AKF representative. Submit required documents to the local AKF office, not Geneva. Deadline is March 31.

When does the 2027-28 cycle open?

The next cycle will open in early 2027. Expected January 1, 2027.

Free Application Tools

• Motivation Letter: Motivation Letter Generator
• SOP / Study Plan: SOP Generator
• CV: Free CV Builder
• Reference Letter: Reference Letter Generator
• MOI Certificate (if needed): MOI Generator
• Research Proposal (PhD): Research Proposal Generator