Students wishing to undertake masters degrees abroad will gain access to €30 million in loans under the newly created Erasmus+ Master Loan Guarantee Scheme.
The agreement, signed between the European Commission, the European Investment Fund and MicroBank in Spain on 11 June, will offer loans of up to €12,000 for a one-year masters course, or €18,000 for a two year course with “favourable interest rates and delayed pay-back options,” a Commission statement said.
Initially only students coming from or going to Spain will be eligible, though the plan is to roll out the scheme to offer masters degree loans in all 33 member countries of the Erasmus+ programme.
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