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Scholarship program

The Vega Institute Foundation Scholarship Program is designed to support students whose research and professional interests lie in modern financial mathematics based on advanced mathematical methods (stochastic calculus, control theory, advanced numerical methods, machine learning methods, etc.).


What is the amount of the scholarship?

The Foundation scholarships range from 20,000 to 40,000 rubles monthly, depending on a student's year of study and his/her participation in student research groups. 

Read more here.

How long does the scholarship last?

The scholarship is awarded for one semester and may be renewed, if the student meets the requirements.

Who is eligible to apply?

The following students are eligible to apply: 

  • 3rd-6th year Specialist's students of the Faculty of Mechanics and Mathematics, MSU;

  • 3rd-4th year Bachelor's students and 1st-2nd year Master's students of the Faculty of Computational Mathematics and Cybernetics, MSU;

  • 3rd-4th year Bachelor's students and 1st-2nd year Master's students of the Moscow School of Economics, MSU.

How to apply?

To be considered for the scholarship, candidates must send an application with the required documents to

What is the selection process?

The Competition Committee* selects the scholarship recipients based on the candidates' applications and their compliance with the formal requirements.

What are the selection criteria for the Basic Scholarship?

The applicants must have "good" and "excellent" grades for a certain number of the Foundation courses specified for each year of study.

To qualify for the Fall 2023 semester scholarship, the following courses must be passed successfully in the Spring 2023 semester:

 3rd year Specialist's/Bachelor's students: one of the following courses must be completed                              
  • Intro to Financial Mathematics

  • Intro to ML

  • Game Theory

3rd year applicants will have a face-to-face interview with the Competition Committee*.

If a 3rd year applicant has successfully completed two special courses of the Foundation, he/she may be exempted from the interview by the Competition Committee*.

 4th year Specialist's/Bachelor's students: two of the following courses must be completed 

  • Intro to Financial Mathematics

  • Intro to ML

  • Game Theory

  • Malliavin Calculus

 5th and 6th year Specialist's / 1st and 2nd year Master's students: three of the following courses must be completed 

  • Malliavin Calculus

  • Rough Paths and Regularity Structures

  • Martingales, Optimal Transport, and Model-Independent Hedging

  • Applied Mathematical Finance II

  • Numerical Methods in Finance II

In addition to the recommended courses, students may choose to take a more advanced course. Upon successful completion of such a course, the student will receive credit for it. 

The students may also take a special course recommended to students of earlier years of study, but such a course will not be taken into account in the scholarship program.

The MSE students of any year of study (beginning from the 3rd year) may take any of the eight courses, regardless of the breakdown above.

You may find the updated information on the application process for the Foundation Scholarships in the Fall Semester 2023 on the website. Stay tuned.


How to receive an increased scholarship?

The applicant has to be shortlisted for the Foundation Basic Scholarship and be an active participant of a student research group. The latter must be confirmed by the group supervisor.

How to renew the scholarship? 

The recipients of the Foundation Scholarship, who have successfully passed the required number of the courses in the semester prior to the new call for applications, may apply for a renewal of the scholarship.

3rd year students who apply for the scholarship renewal do not need to take the interview.

If a student applies for an increased scholarship, he/she will have to provide proof of his/her active participation in a student research group.

Read here for more.


By taking part in the competition, the candidate confirms to have read the Regulation on Personal Data Processing and agrees to send the Consent to Personal Data Processing with the scholarship application.

Being a part of the Scholarship Program entails attending the Foundation special courses and other educational projects, as well as participation in the student research groups. 

You will find more information about the rules of the competition here.

We will be happy to answer your questions in the student community group on telegram or by e-mail at


The Competition Committee*:

Kirill Klimov, Cand.Sci. in Physics and Mathematics
Chief Executive Officer of the Vega Institute Foundation

Mikhail Zhitlukhin, Cand.Sci. in Physics and Mathematics
Senior Researcher, Steklov Mathematical Institution of the Russian Academy of Sciences

Alexey KurbatskyPhD (Phys.-Math.​)
Associate Professor, Deputy Head of the Department of Econometrics
and Mathematical methods of Economics, Moscow School of Economics,
Lomonosov Moscow State University

Anastasia Muromskaya, Cand.Sci. in Physics and Mathematics
Assistant of the Department of Probability Theory of the Faculty of Mechanics
and Mathematics, Lomonosov Moscow State University

Igor Rodionov, Doct.Sci. in Physics and Mathematics
Senior Researcher, Trapeznikov Institute of Control Sciences
of the Russian Academy of Sciences