via
Joint Masters in International Tourism and Events Management
via This project is supported by the Lifelong Learning Programme of the European Union
Erasmus + loan guarantee

The new EU programme for education, training, youth and sport Erasmus + foresees master student loan guarantee.

Higher education students at master's level who want to complete a full study programme in another Programme Country can apply for a loan to contribute to their costs. The Student Loan Guarantee facility will be established in cooperation with the European Investment Bank Group. The facility will provide a partial guarantee against loan defaults for banks or student loan agencies in Programme Countries who will participate. The EU partial guarantee will thus mitigate risk for financial institutions lending to a group they currently do not consider. In return for access to the partial guarantee, banks will be required to offer loans on affordable 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 establishment of a student loan guarantee facility will enable young people to gain access to loans to support their studies abroad over the lifetime of the Erasmus+ Programme. The EU budget allocation will leverage a multiple amount in financing from the banking sector for loans to mobile masters students.

More information will be available on the website of the European Commission in due course.


 
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