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In 1988 the Residencia de Estudiantes, in collaboration with the Consejo Superior de Investigaciones Científicas, started the first scholarship program for resident students. In 1989, the Madrid City Council began its fellowship program at the Residencia de Estudiantes, with grants awarded to talented youngsters from Spain and Latin America. These researchers and artists are selected through an open competition of merit every year; they live in the Residencia for a full academic year with a grant that can be renewed for up to three more years. Since its inception, 250 scholarships have been offered, and 130 fellows have benefited from the program.

Besides these scholarships from Madrid City Council, from 2004 to 2010 there were also the Roberto Fernández de Caleya y Álvarez scholarship for researchers in the History of Science and Medicine, sponsored by the Esquerdo Foundation; and from 2006 to 2010, three fellowships for scholars and artists sponsored by the Government of Aragon, and finally, since 2007, a scholarship for students of film direction granted by the Borau Foundation.