UNC Kenan-Flagler Business School

Semester Study Abroad Programs

Spain: IE University

Student Life
  • Overview

    Kenan-Flagler Global Programs (KFBS semester exchanges, KFBS summer programs, and KFBS short-term immersions) are ONLY open to students who have been admitted to the major or minor Undergraduate Business Program. Pre-business students and non-business majors and minors are not eligible to apply to Kenan-Flagler Global Programs. Admission status to the Undergraduate Business Program will be verified for all applicants.

    A NOTE ABOUT PASSPORTS AND VISAS: It is strongly recommended that students have in their possession by the application deadline a valid passport with an expiration date no earlier than 6 months after the program end date. Due to visa regulations, students should consult their study abroad advisor before making international travel plans prior to the program start date. Students accepted into this program will need to travel to a Spanish consulate here in the United States, with passport in hand, to obtain a visa permitting them to study in Spain.

    IE University is a private university, owned by the Instituto de Empresa S.L. Designed by the top-ranked IE Business School, the Bachelor in Business Administration program at IE University allows exchange students the choice of studying at their Madrid or Segovia campus. Exchange students have the option to take courses in English or Spanish. Students studying at the the Segovia campus will have more core Business course options, whereas students studying at the Madrid campus will have more Business elective course options. Each campus has a vibrant student life with clubs and sports facilities open to visiting students.

    *Students are required to study Spanish throughout their stay. The program offers BUSI and non-BUSI courses in both English and Spanish; students may enroll in the courses taught in the foreign language provided they successfully test into the required Spanish language proficiency level.

    Visit the program's website

    View program evaluations from past participants

    Application checklist


    • GPA Requirement: 3.00 
    • Language Prerequisite: no prior Spanish language experience required; students are required to take at least 1 course in Spanish (language and/or Business courses) during their semester abroad
    • Class during program (min): Junior
    • Language of Instruction: English/Spanish
    • Non-UNC may apply? No 

    Exchange Options
    • Undergraduate Exchange: Yes Exchange Only 
    • Graduate Exchange: No

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  • Program Terms and Dates

    This program is offered during the following terms: Fall, Spring

    Program dates are generally as follows:
    ​​​Fall - Early September to Late December
    ​​​Spring​ - ​Early January to Late May
    ​​Fall 2018 dates are September 3 - December 20
    ​​Spring 2019 dates are January 7 - May 24

    Application Dates

    Spring 2018 Program:

    • ​​​Application opens: August 1, 2017
    • Application deadline for Spring 2018: September 12, 2017
    • Notification begins: September 20, 2017

    Fall 2018 Program:

    • Application opens: November 1, 2017
    • Application deadline for Fall 2018: February 15, 2018
    • Notification begins: February 23, 2018

    Spring 2019 Program:

    • Application cycle opens: now open
    • Round 1 application deadline for Spring 2019: April 12, 2018
    • Round 1 notifications begin: April 25, 2018
    • Round 2 application deadline for Spring 2019: September 5, 2018
    • Round 2 notifications begin: September 14, 2018
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  • Academics

    Credit information for KFBS students

    Students take business core and elective courses at IE University that transfer for the undergraduate business major or minor. We encourage participants to take some of their business coursework in Spanish, if they have the appropriate language level. Though there is no Spanish language prerequisite for this program, students are required to take a course (BUSI or non-BUSI) in Spanish.

    Courses taken at IE University will transfer back to UNC Pass/Fail. Achieving a grade of 5 (out of 10) or above will transfer back to UNC as a pass course, which will not affect UNC GPA. Students who receive any grade under 5 will fail the course and an F grade will transfer back to UNC, which will affect their UNC GPA. Though transfer credit for this program is Pass/Fail, future employers and graduate schools will also look at the IE University transcript, so grades are important.

    Students participating on this program will transfer back 2.7 UNC credits for every 4.5 ECTS credit course, and are expected to take between four and five courses worth 4.5 ECTS credits each during the semester. A student who earns a 5 or more in all courses will receive a total of either 13.5 or 16 UNC credits for their semester abroad (depending on the number of courses taken at IE University).

    This program also fulfills Experiential Education and you will earn points towards the Kenan-Flagler Inclusive Global Leadership Initiative. Full-time enrollment on this program is defined as a minimum of 12 credit hours.« PrevNext »
  • Housing

    Living in Madrid or Segovia: Students are advised to start their accommodation search as soon as they know which campus they are nominated to. While IE University does not have dormitories for local or international students, there is a housing service at the university that provides guidance on available options. On this program, students may choose to live with a host family, share an apartment with other students, or reserve a room at a student residence in Madrid.

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  • Student Life

    IE University's Campus Life organizes extracurricular activities and helps exchange students integrate into the IEU community. Exchange students are encouraged to get involved on campus and are able to participate in the many IEU clubs and sports programs on campus. IE University's Amigo Network offers incoming exchange students the support of local student volunteer buddies to further help exchange students adjust to life at IE University.

    As the political and economic capital of Spain, Madrid is a great location for students to immerse themselves in Spanish culture and learn about this important and dynamic country. Madrid is an ideal city for students wanting to improve their Spanish language skills. As an historic and cultural center, Madrid offers many world-class museums as well as the grand Palacio Real and many beautiful churches. Madrid is a great city for outdoor enthusiasts, who enjoy the many green spaces and the Parque Retiro. Modern-day Madrid has much to offer in the way of sports, shopping, nightlife, and delicious cuisine.

    Famous for its well-preserved Roman aqueduct, Unesco World Heritage-listed Segovia is a picturesque old city located in the beautiful countryside of the Castile-Leon region of Spain. Being a relatively small city, exchange students will have ample opportunity to enhance their Spanish language skills, learn about the rich history and immerse themselves in the culture of the region. Being a quick 30 minute high-speed train ride from busy Madrid, students remain well-connected to the rest of Spain and Western Europe.« PrevNext »
  • Budget

    Here, you will find a list and links to costs related to this program.
    Last cost update: December 2018

    We suggest you create your study abroad budget using this worksheet to help you think about your costs on this program:

    • Populate the figures from the tables below into the left side costs of attendance
    • Input your financial resources on the right

    Your customized budget sheet can help determine your current financial status, and help you understand what additional funding you may need to help make this an affordable program option.

    Cashier Billed Expenses*:

    UNC Tuition and Fees
    Take the amount on the Tuition and Fees line and divide by 2 to get your semester tuition and fees cost

    Fee UG Business major/minor
    Based on major/minor enrollment
      Study Abroad Fee $700

    GeoBlue International Medical Insurance

    *Cashier Billed Expenses are those charges billed directly to your UNC ConnectCarolina account.


    Out of Pocket Estimates**:

    International Airfare

      Meals $1,000
      Immigration Visa/Residence Permit

    Passport Application Renewal
      Course Materials $200
      International Cell Phone Plan $350
      Personal Expenses
                Travel Insurance $400
                Local Transportation $250
                Personal Travel $1,500
                Incidentals (ex. Laundry) $350
                Shopping/Souvenirs $150
                Other Personal Expenses***  
      Total Estimated Expenses: In-State  $15,160
      Total Estimated Expenses: Out-of-State $28,174

    **Out of Pocket Estimates are based on the cost of the program, which is determined by combining the average costs our previous students have spent in each of these categories, along with the costs our partner provides to us as their averages. These estimates are subject to change based on exchange rate fluctuations, bank fees, and individual variances in costs of living.
    ***Other Expenses: the budget worksheet also has a place for you to input other expenses outside of the out-of-pocket estimates that you may incur, such as attending concerts or sporting events.

    Funding your study abroad program

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  • Accessibility

    Please make an appointment with a Kenan-Flagler Global Programs Advisor via the Intranet if you would like to discuss this program. We work with students who are registered with the Accessibility Office or who may require certain accommodations for study abroad.

    Accessible Madrid

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  • Applicants will upload the following items depending on their application type:

    X X X
    Resume X X X X
    UNC Transcript X X X  
    Reference X
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    Course Schedule X
    Scholarship* X
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    Campus Safety/Honor Code* X X X X

    *Indicates that uploads may not be required. Click here for additional information and application instructions.

    Apply Now!

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