Students who are offered a place for full-time graduate studies at Macquarie University and who are selected as beneficiaries of the Loan-Scholarship Program of COLFUTURO will be eligible or considered for the shared financing under this agreement.

COLFUTURO will forward a short-list of potential scholarship candidates to Macquarie once its selection process is done. Potential scholarship candidates refer to Colombian students who were admitted to the graduate programs (Masters by Coursework) referred to in article 1 of this agreement and who were selected by COLFUTURO as beneficiaries of its Loan Scholarship Program.

Macquarie University will provide two (2) scholarships of 50% of the tuition fees for Master by coursework degrees. In addition, Macquarie University will provide a scholarship of 10% to all other eligible COLFUTURO recommended students.

Macquarie University will offer this financial support for the normal duration of the degree. Master students for a period of up to 2 years depending on the degree.