Erasmus+ Master Loan Scheme
- Level of study
- Postgraduate taught masters
- Subject area
- Arts and Law, Engineering and Physical Sciences, Life and Environmental Sciences, Medical and Dental Sciences, Social Sciences
- Italy, Romania, Spain, Croatia, Turkey
- Type of Award
- Deadline for applying
- None. Open all year.
The Erasmus+ Master Loan intends to support full Masters studies by Programme country residents in a country other than either their country of residence OR the country where they received their first qualification. Erasmus+ Master Degree Loans are EU-guaranteed loans with favourable pay-back terms. They’re designed to help prospective students finance their Masters courses in an Erasmus+ Programme country while leaving as little of a lasting economic footprint as possible.
The scheme is designed to provide postgraduate students with the means to pay their tuition and living expenses – thereby allowing individuals to focus on their degree instead of managing their bank balance.
Value of Award
Prospective Master students can receive a loan of up to €12,000 for a 1-year Master or up to €18,000 for a 2-year Master (or equivalent amounts in foreign currency for banks in non-Euro countries, subject to exchange rates).
Prospective students must:
- Live in a Programme country
- Have completed a Bachelor-level (or equivalent) qualification before applying
- Have been accepted (before applying) to a full Masters programme in another country. The university offering the programme must hold the Erasmus+ Charter of Higher Education
Currently the scheme is made available to students who are resident in the following programme countries - and who are seeking to study abroad in another programme country:
- Italy (Emilia Romagna region)
How to Apply
Prospective students should apply through the financial institution, the universities or online, submitting the following documentation:
- Certificate of completion of the last degree you have completed prior to the Masters degree you are applying for
- A receipt for the enrolment fee OR documentary proof of admission and of the cost of the Masters course
Each lending institution will have different terms and conditions – but all institutions will provide interest rates that are significantly lower than commercial rates. Students will therefore need to visit the specific bank or lending institution’s webpage - where they will be able to review specific terms and conditions. These are listed below: