FUNED is a civil association for philanthropy and was founded by a well-known Mexican businessman, who established an educational Credit Program for Mexican Students already in 1993 .
The aim of FUNED is to offer educational loans for Mexican students. They receive the possibility to study a full-time master in Mexico or other foreign countries all over the world. In that case they can choose between several fields: Administration, Engineering, Law and Business in general.
The applicants for this educational Credit Program should careful pay attention to the following conditions:
- You do need an official certificate about the ability and university degree for a full-time Master degree in renowned national and foreign universities.
- It is necessary to pay the majority of the money needed for the study. FUNED is only a additional credit that covers a maximum of 40 % of all costs for the whole full-time Master Study (tuition fee, school equipment, accommodation, meals, etc.)
- You need a solvent guarantor who is not older than 60 years. On the one hand this person will be, together with the applicant, responsible for the received financial credit. On the other hand the person has to act with moral seriousness. The value of his properties has to be 2,5 times higher than the educational credit.
FUNED is a foundation for students that want to make a full-time Master study. Unfortunately this association cannot support candidates for a doctor’s degree, half-time Master students or candidates for the second master degree.
- The applications are accepted by FUNED all over the year as there is no public announcement. The applications are seen in chronological order, availability of educational credits and the qualifications of the applicant.
- The timeframe for an answer amounts about eight weeks.
- The limit of the credit is clearly determined:
For one year the applicant receives about $20,000 USD. For two years he will receive about $40,000 USD. The costs do not exceed 40 % of the total amount of all costs of the Master Study. This educational credit is offered to a number of applicants that justify the need of the FUNED-Credit. The applicant and its guarantor need to have a credit availability and clean credit-history.