Erasmus Mundus Scholarship:

The Erasmus Mundus programme offers two categories of scholarships to students selected by the consortium. The number of available scholarships is defined on a yearly basis.
Category A scholarships
Candidates who fulfil the Third country students criteria* are eligible for a category A Erasmus Mundus scholarship, awarded on the basis of academic excellence.
The scholarship consists of a 1000 € monthly allowance, a contribution to travel, installation and any other type of cost up to 4000 € per year and a maximum contribution to the Master Course participation costs (including insurance coverage) up to 4000 € per semester.
The monthly allowance amount may be increased in order to help cover the additional costs of students with special needs.
Category B scholarships
Candidates who fulfil the European students criteria* are eligible for a category B Erasmus Mundus scholarship, awarded on the basis of academic excellence.
The scholarship consists of a 500€ monthly allowance and a maximum contribution to the Master Course participation costs up to 2000€ per semester.
The monthly allowance amount may be increased in order to help cover the additional costs of students with special needs.
* Third country students: students from countries other than a Member State of the European Union, an EEA-EFTA State (Iceland, Norway, and Lichtenstein), who are not residents nor have carried out their main activity (studies, training or work) for more than a total of 12 months as from the 28th of February 2006 in one of these countries.
* European students: students selected by the consortium who do not fulfill the above mentioned criteria.
Please note that only category A scholarships should be considered as full scholarships. Category B scholarships have to be considered as a financial contribution to the student’s costs.
Students who apply for scholarship categories A and B:
An on-line application form must be registered at www.mastertema.eu and a complete application package must be sent by post to the TEMA Secretariat before the 10th of January 2011 (date of postmark).

More information, here.