This is a programme, according to which BA students who completed the 1st semester of the first year, and second year MA students, can study up to two semesters at a foreign university, which ISM University of Management and Economics signed a cooperation agreement with.
You can read more about Erasmus+ programme here.
More about the rules of participating in exchange programmes at ISM University of Management and Economics please read here.
Who can participate and what is the selection criteria
Undergraduate students can exchange from the 3rd semester. Students with no more than one debt can participate in the selection. Postgraduate students can go on an exchange from the 2nd semester. Students with no more than one debt can participate in the selection. Students wishing to go to universities with triple accreditations (EQUIS, AMBA and AACSB accreditations) must have an average of at least 7.
Students are required to pay regular academic fees to ISM University during their studies abroad. However, they are not required to pay any additional fees related to the costs of organizing or administering Erasmus studies.
The selection is carried out twice a year:
The competitive score consists of:
During Erasmus + exchanges, students also have the opportunity to apply for a scholarship (€ 320-570 per semester, depending on the country of destination).
Supplementary scholarship for students with disabilities and / or special needs If a student with a disability or special needs goes abroad for an Erasmus study or traineeship, an additional scholarship may be awarded. The student must submit to the Education Exchange Support Fund an application approved by the Erasmus Institutional Coordinator of the sending institution of science and studies and documents confirming the disability or special needs.
The scholarship does not cover all the costs of study or internship abroad.
Will I receive a scholarship and how is it calculated?
The number and amount of scholarships are calculated every academic year taking into account the amount of funds allocated by the European Commission and state budget of the Republic of Lithuania for that year, but usually all our students receive the scholarships.
The amount of the scholarships are based on the country you are going to. It is up to 570 EUR/month based on a country. The university pays the scholarships in two parts: 80% before your leave and 20% after you come back and after you are done with the whole paperwork.
If I do not receive a scholarship, can I cancel my exchange?
Yes, you can cancel your exchange any time, but you have to notify the International Studies office as soon as possible.
I want to go with my friend to the same university. Can we do that?
Firstly, you both have to participate in the competition. Secondly, it depends to which university you prefer to go. There are such universities where we have only one or two places available for our students. So all depends on the competition results. If you want to go together, we would recommend choosing less popular destination, then the probability to go together to the chosen university gets bigger.
Can I go on an exchange wherever I want and find it myself?
The list of ISM University of Management and Economics partners is compiled on the basis of compatibility of study content and on the basis of student exchange balance. Therefore, it is possible to go only to those universities with which the subjects are coordinated and an inter-institutional Erasmus + exchange agreement has been signed.
Will it be necessary to take ISM subject exams when returning after the exchange semester?
Certainly not, the exchange semester is a continuing education, assessments received during the exchange semester will be credited and included in the Diploma Supplement.
What benefits of exchange, if the quality of studies and activities satisfy me at ISM, why should I go to an exchange semester?
ISM University selects only the best universities in the world by concluding partnership agreements with a foreign university. During the exchange you go not only to deepen your academic knowledge, but also to get to know yourself, other cultures, to live in another country and to gain international experience.