Scholarships as a driver for accessibility, diversity and internationalisation

Alexandre Segers, Head of Advancement at Vlerick Business School, delves deeper into the how and why of scholarships, while also looking ahead to what will be needed to continue supporting promising talent in the future.

Providing support is becoming increasingly important

For several years now, global demand for scholarships has been on the rise. At Vlerick Business School, we have also seen a steady increase of around 10% per year. As Alexandre Segers explains, this contemporary trend is more firmly embedded than ever in the broader economic context. ‘We are living in a period of ever-increasing uncertainty, with both geopolitical tensions and economic instability. Governments and educational institutions are under severe budgetary pressure, while inflation also remains high’. This not only affects tuition fees, but also other costs such as accommodation, transport and study materials. ‘This trend means access to high-quality education is becoming more of a privilege, with increasing numbers of students seeking financial support’, Segers continues. ‘At Vlerick, we are therefore placing greater emphasis on visibility and accessibility for our scholarships, thereby encouraging more applications.’

International and social diversity

Over recent years, society has undeniably become more international and diverse. This is not a short-term trend, but a lasting reality. And the business world is evolving with it. ‘This is exactly why it is essential for management programmes to reflect this level of diversity’, explains Alexandre Segers. ‘A student cohort that brings together different nationalities, cultures, and backgrounds enriches the learning process in ways that cannot be achieved through books alone. It broadens your horizons, teaching you to think differently and look at business challenges with fresh eyes.’

Scholarships play a key role in all this. Not only do they ensure greater international representation, they also make programmes more accessible to students from diverse social and economic backgrounds. ‘This helps make management training accessible to a wider audience’, Segers continues. ‘While talent is everywhere, the same cannot always be said for opportunity. We see it as our responsibility to give people the chance to develop. For us, this is just as important as achieving academic excellence.’

Alumni make a difference

Each year, Vlerick Business School grants an average of 100 scholarships, reaching a peak at almost 130 last year. This investment amounts to approximately €1.2 million per year. About 70% of funding comes directly from the school, while the rest comes from donations. ‘Fortunately, we can count on the generosity of our alumni to help meet a substantial proportion of this growing demand. When alumni make donations to the school, they are making a difference for the next generation, thus completing the circle. Quite often, there is a personal story behind such acts of generosity.’ Alexandre cites the example of a Belgian alumnus who financed a scholarship to honour his best friend, a student from India whom he had met at Vlerick and who was able to attend the programme thanks to a scholarship. ‘These kinds of stories show how profound the impact can be’. Other donors want to meet the students they’re supporting in person, while some students also choose to write letters or send video messages to their donors.

In contrast to American culture, donations in Europe tend to take place behind the scenes. Donors are less likely to draw attention to their act of generosity, tending to do it simply for the positive impact it will bring. ‘Our alumni aren't doing this for the recognition. They're doing it because they want to make a difference. They realise that students who receive support today will add value to a company and therefore contribute to society down the line. After all, this is something our alumni have experienced first-hand’, explains Alexandre. ‘For many, the time spent on their Vlerick course is the best investment they will ever make.’

Want to help make a difference?
Check out our three ways to invest in emerging talent.

1. Become a member of the Vlerick Alumni Support Circle
   Increase your impact as a Vlerick alumnus by joining our community – and choose which fund you would like to support with your membership. As a thank you, we will give you access to a number of exclusive benefits and opportunities to expand your network.
2. Make an individual donation
   Choose how much and how often you wish to donate. You can donate directly online.
3. Organise a class reunion
   Vlerick programmes often mark a turning point – not only in your career, but also in terms of the friendships and network you build along the way. Every year, we help organise a significant number of class reunions. Reconnect with former classmates, rekindle old friendships... or even team up and fund a scholarship together! This is how you can make a difference for the next generation.