Established in 1996, Varna University of Management is a non-profit private higher-education institution located in the urban setting of the large city of Varna (population range of 500,000-1,000,000 inhabitants). This institution also has branch campuses in the following locations: Dobrich, Sofia. Officially recognized by the Ministry of Education and Science of Bulgaria, Varna University of Management (VUM) is a very small coeducational Bulgarian higher education institution. Varna University of Management (VUM) offers courses and programs leading to officially recognized higher education degrees such as bachelor degrees, master degrees in several areas of study. This 26 years old Bulgarian higher-education institution has a selective admission policy based on entrance examinations and students' past academic record and grades. The admission rate range is 60-70% making this Bulgarian higher education organization a somewhat selective institution. International applicants are eligible to apply for enrollment. VUM also provides several academic and non-academic facilities and services to students including a library, housing, sports facilities, financial aids and/or scholarships, study abroad and exchange programs, as well as administrative services.