Deadline:
As soon as possible
Location(s)
Cyprus France Luxembourg Spain Turkey United Kingdom
Overview
Erasmus+ Master Degree Loans are EU-guaranteed loans with favourable pay-back terms that can help you finance a Master course in an Erasmus+ Programme country.
Details
The scheme is designed to support postgraduate students and protect them from student hardship with social safeguards including:
- No need for collateral from students or parents, ensuring equality of access
- Favourable, better than market interest rates
- Pay-back terms that allow graduates up to two years to find work before beginning repayment.
Currently the scheme is being made available through banks and universities:
- Banks in Spain, France, UK and Turkey for outgoing students from these countries pursuing postgraduate study abroad and students from other Programme countries going to Spain or UK for a Master course;
- Universities of Luxembourg and Cyprus for incoming students from other Programme countries going for a Master course at these universities.
As more institutions from around Europe join the scheme, more destinations for postgraduate study will become available.
It is however not possible to say when exactly any particular country might be covered because the agreements with banks, student loan agencies and universities will be done gradually on a country by country basis.
Opportunity is About
Eligibility
Candidates should be from:
Description of Ideal Candidate
Conditions
- If you have completed a Bachelor-level (or equivalent) qualification and already been accepted onto a full Master programme in another Programme country, you may be able to benefit from a loan.
- To be eligible you must live in a Programme country and your study destination cannot be in your country of residence or the country where you received your first qualification.
- You can only receive a loan to study at a university holding the Erasmus+ Charter for Higher Education.
- The loan is not available if you are only studying abroad for part of your Master qualification, though you may still qualify for an Erasmus+ grant.
- The rate of interest charged on the loan will vary depending on which country the bank or institution lending the money is based. Nevertheless, the rate of interest will be lower than standard commercial rates.
Dates
Deadline: As soon as possible
Cost/funding for participants
Duration
You can receive a loan of up to €12,000 for a 1-year Master or up to €18,000 for a 2-year Master (or equivalent amounts in foreign currency for banks in non-Euro countries subject to currency fluctuations).
Un-save Opportunity
Internships, scholarships, student conferences and competitions.
