A programme with more than five decades of history behind it
This isn’t a recent initiative. The Aga Khan Foundation established the programme in 1969, under His Highness the Aga Khan IV, and it has supported more than 1,500 students to date, a scale that puts the current annual cycle in context: a limited number of new awards are offered each year, and only through a single global, competitive process.
Half of this award is a loan
Half of this award is a loan. That is stated plainly on the official page and left out of almost every listing site that covers the programme. You repay 50 percent of what you receive, with a service charge on top, starting six months after you graduate, leave the course, or lose the award for falling short of the academic standards expected of you. You also need a guarantor to co-sign the agreement before the money is released. None of that makes it a bad award, but it is a different financial decision from a grant, and worth planning for now rather than in your final term.
The Foundation is direct about how it wants to be used
The Foundation is direct about how it wants to be used. It calls itself a resource of last resort and asks applicants to secure other funding first and reduce the amount requested accordingly. The application asks for a multi-source funding plan covering every year of study, so an application that treats AKF as the whole answer is weaker than one that treats it as the gap-filler. Master’s applications are given priority; PhD funding runs for the first two years only, after which you are expected to have found funding elsewhere, so factor that into your plan if you are applying for a doctorate.
Distance learning and local universities count, but only if quality holds up
Distance learning and local or regional universities are acceptable for this funding, but only if the Foundation judges the quality of the course maintained, so a low-quality local option isn’t automatically ruled in just because it’s cheaper or closer to home. Part-time programmes and short-term courses are not considered at all, regardless of quality.
Applications go through your own country’s contact, not a central office
Applications do not go to a central office. They are handled by AKF contacts in the country where you live, and those offices set their own internal deadlines and requirements. That means the date you need is not on the global page, and asking for it early is worth doing. You also need an offer of admission from a reputable postgraduate institution before applying, so the university application comes first, not second. The 2026-2027 round has closed and the Foundation says the next one opens in early 2027 without giving a date. The programme is not available for study in the United Kingdom or Russia, and in Canada, Portugal and the USA it is only open to people originally from one of the eligible countries, not to anyone resident there.