Up to 5 million people, almost twice as many as now, could get the chance to study or train abroad with a grant from Erasmus for All, the new EU programme for education, training, youth and sport proposed by the European Commission.
Among them would be more than 2 million higher education students, more than 700 000 vocational students and nearly one million teachers. More than 300 000 full-time Masters' students would also benefit from a new loan guarantee scheme set up with the European Investment Bank Group. The seven-year Erasmus for All programme, which would have a total budget of €19 billion, is due to start in 2014.
"Investing in education and training is the best investment we can make for Europe's future. Studying abroad boosts people's skills, personal development and adaptability, and makes them more employable. We want to ensure that many more people benefit from EU support for these opportunities. We also need to invest more to improve the quality of education and training at all levels so we are a match for the best in the world and so that we can deliver more jobs and higher growth," said Androulla Vassiliou, Commissioner for Education, Culture, Multilingualism and Youth.
For the latest updates on this programme check out our Erasmus for All page.