What is it?
Erasmus+ Master Loans allow students to apply for financial support for their Master's studies abroad. Loans will be offered by participating banks and student loan agencies on favorable conditions to mobile students, including better than market interest rates and up to two years to allow graduates to get into a job before beginning repayment
The loan scheme is being established in cooperation with the European Investment Fund (Part of the EIB Group) and will be gradually rolled out across the Erasmus+ programme countries over the first few years of the programme.
Who can apply?
Higher education students who have been accepted for a full Master's study programme in another Erasmus+ Programme Country can apply for a loan to contribute to their costs.
Your destination country must be different from your country of residence, and from that where you obtained your Bachelor's degree.
How much can be borrowed?
Up to €12,000 for a one-year Master's course or up to €18,000 for a two-year Master's course.
Testimonial by Stefan Jahnke, former President of the Erasmus Student Network, on new opportunities for students with Erasmus+ programme.
Where to apply?
Students should apply directly to participating banks or student loan agencies. MicroBank in Spain is the first bank to participate, targeting both outgoing and incoming Master students.
The Erasmus+ Master Loan Scheme was launched in mid-June 2015, with a gradual roll-out across the Erasmus+ programme countries. As more banks participate, an updated list of participating banks and student loan companies will be published here.