Erasmus+ master loans launched

The European Investment Fund (EIF) and the European Commission have launched the ERASMUS+ Master Loans. It is an entirely new and additional action, it will not replace Erasmus grants. The loans are up to € 12,000 for a 1-year Master programme and up to € 18,000 for a 2-year master. During the period of the Erasmus programme (2014-2020) an estimated 200,000 student loans will be supported.

Students must follow the Master programme in a different country from their country of residence, and in a different country from where they took their Bachelor degree. It is not allowed to combine an Erasmus grant and a loan for a study at the same place.
The Student Loan Guarantee will begin operation early in 2015, with a gradual roll-out across the Erasmus+ programme countries. A call for expression of interest has already been published.