UMD: A Globally Connected University

BMGT Exchange: IE Business School, IE University (Spain)

Madrid, Spain
Terms Offered: 
Program Type: 
Credit Type: 
Minimum GPA: 
EA Advisor: 
Rachel McCloud
Language of Instruction: 


All students accepted to an Exchange program are automatically considered for an award of $1,000! See Cost tab for more information.

Host Institution
IE University is located in Segovia, Spain, just 25 minutes away from Madrid. 65% of the students enrolled at IE are coming from abroad and the school is home to over 70 nationalities. IE also has a campus in Madrid, which is available to third and fourth year students. The graduate School, IE Business School, is consistently ranked near the top worldwide, achieving number 3 in Europe according to the Financial Times in 2012.

Host City
The city of Segovia has been a World Heritage Site since 1985 and is renowned for its Romanesque art and architecture. Segovia is also home to the beautiful Alcazar Gardens and the Garden of la Merced. The annual film festival MUCES occurs during the fall and screens European films which have not been commercially screened in Spain yet but are popular in their home countries.

Madrid is the capital and largest city in Spain, home to over 6 million people in the metro area alone. It is the seat of the country’s government and economic institutions and is one of the cities on the Iberian Peninsula that attracts the most foreign investment. Aside from politics and the economy, Madrid hosts the Museo Nacional Centro de Arte Reina Sofia which showcases Spanish artists, among them Pablo Picasso and Salvador Dali. Of course, the internationally famous soccer team Real Madrid plays their home games in the Santiago Bernabeu stadium.

Exchange programs are highly competitive and space in each program is limited. You must meet the following eligibility requirements in order to apply to this program:

  • 3.0 GPA
  • Completion of 2 semesters at UMD
  • You must be a BMGT major

Exchange programs are a good fit for students looking for immersion, personal growth, and the opportunity to strengthen qualities such as independence and adaptability.

Student Visa Information

  1. Click "Apply Now" at the top of this page. You will log in with your UMD directory ID and password.
  2. Submit all application materials by the deadline listed below. This includes meeting with your EA advisor (listed at the top of this page), and may include requesting a faculty letter of recommendation, and submitting an official transcript. If a letter of recommendation and/or official transcript are required, it will be listed in MyEA once you start an application for this program. 
  3. After the application deadline, we will review all completed applications and nominate students for available spots in each exchange program.
  4. If you are nominated to participate in this exchange, you will work with your EA advisor (listed above) to apply directly to the host university, who will formally admit you to the exchange program. Nominated students must complete the host university application in accordance with the host university’s stated deadlines and instructions.
  5. Nominated students will then work with their EA advisor (listed above) and our partner universities to coordinate all aspects of the stay at the host university such as course registration, visas and arrival.

Academic Planning

Visit the Academics & Study Abroad page which outlines key considerations for your academic planning as you navigate different phases of study abroad:


Students are required to complete 15 UMD credits per semester. Students can also take Spanish language courses. Academic programs offered include Business Administration, Finance, International Relations, and others. Note that UMD cannot guarantee that a particular course will be offered in any given semester at IE.

All classes are taught in English and Spanish.


There may be other course offerings on this program that are not currently listed in the Study Abroad Course Database (SACD).  If you are interested in taking a course not listed in the SACD, please submit a transfer credit evaluation request.


All credit you earn on this program will count as transfer credit towards your UMD degree.  Most courses at IE University will be converted as follows:

IE University Credit UMD Credit
1 ECTS Credit .667 UMD Credit
6 ECTS Credits 4 UMD Credits

The credit conversion listed above was approved by the UMD Study Abroad Transfer Credit Committee on February 27, 2014.


Undergraduates must receive a C- equivalent or better in order to be eligible for the transfer of credit.

IE University Grade UMD Grade
5 C -

Financial Times in 2012.

  • Students have various options for accommodation in Segovia:
  • On-Campus Residence Halls: Double or single occupancy, private bathrooms and wifi access with meals included. Limited availability for exchange students.
  • Home-stay: IE will place students with a Spanish family if requested. Great opportunity to improve Spanish language ability!
  • Off-campus: IE has agreements with various apartment buildings to rent to students in the general campus area.
  • Accommodation in Madrid is done through private agencies. Most housing available is private, furnished apartments ranging from $780 - $1,040.

Exchange Program Cost of Attendance
UMD students participating in an Exchange program have the benefit of paying UMD tuition rates to attend an institution abroad. For specific information about this Exchange program, please reference the Cost of Attendance Chart.

Tuition and fees for exchange programs are charged directly to your UMD account, which means you can apply UMD scholarships, state and federal financial aid, and alternative loans towards the cost of an exchange. Students participating in a BMGT or ENGR exchange program are not charged differential tuition. Housing costs are paid directly to the host institution or on-site housing agency.

You can use the cost of attendance comparison worksheet to view how study abroad programs compare to each other and the amount you pay on campus at UMD. As always, your EA advisor (listed above) is available to help you complete this worksheet and find affordable programs that fit your study abroad goals.

Exchange Scholarship
All students accepted to an Exchange program are considered for an automatic award of $1,000! To be considered for this scholarship, you must:

  • Be a current degree seeking undergraduate UMD student (graduate students are not eligible for this award)
  • Not currently receive full tuition scholarship/benefits (i.e. Banneker Key, tuition remission, Frederick Douglass Scholarship, etc.)

Additional Financial Resources

Maximize your time abroad by taking advantage of resources at your host institution!

Student Clubs and Organizations
With over 100+ student clubs and organizations offered at IE University, no matter what your interests are, there’s something for you.

International Welcome/Orientation
Students are informed of orientation dates on the first day of class, but there is also an academic calendar that outlines important dates.

Counseling & Health Services
IE University provides multiple resources and mentoring through their counseling and health services to support international students.

Resource Guide for Students with Disabilities*

*This resource guide provides general information about services at UMD’s partner institution. For more information, consult your EA advisor.

Term Year Application Deadline Admission Notification Program Start Program End
Fall 2023 03/01/2023 03/13/2023 08/28/2023 12/19/2023
Spring 2024 10/01/2023 10/11/2023