International Master of Science in Rural Development
 Erasmus+ Master Degree Loans

ERASMUS+ MASTER DEGREE LOANS

Self-funding Erasmus+ Programme Country nationals which have been academically admitted to start the IMRD Programme can apply for a loan to contribute to financing their participation in the programme during their mobilities in another IMRD & E+ Programme Country.

The loan aims to help master’s students with their living and programme costs when studying abroad. It does not replace Erasmus+ mobility grants. The loan scheme is aimed at students who want to study in a European country that is neither their country of residence, nor the country in which they obtained their qualification which granted them access to the IMRD programme.

Loans will be offered by participating banks and student loan agencies on favourable conditions to students, including better than market interest rates and up to two years to allow graduates to get a job before beginning repayment.

The terms of the loan include special conditions designed to make repayment easier:

  • no need to provide collateral to be approved for a loan;
  • an interest rate lower than the market rate;
  • a ‘grace period' of up to one year before repayments begin; and
  • a further 'payment holiday' of up to one year.

The loan scheme will be established in cooperation with the European Investment Bank Group and will be gradually rolled out across the programme countries over the first few years of the programme.


Amount and object of the loan
 

The loan is up to 18,000 EUR for the IMRD programme and can cover both living and progamme costs

Eligibility criteria


A. To be eligible students must:

  • Be a resident of one of the Erasmus+ Programme Countries

  • Have successfully completed first cycle higher education studies (Bachelor or equivalent) and have been accepted for the IMRD programme

     

 B.  The loan can only be used for the period of the IMRD study that the student will be in an IMRD partner country which is different from:

  •  the student's own country of residence; and
  •  where the student obtained the Bachelor degree (or the equivalent degree giving one access to the IMRD programme).
     


Where to apply?
 


The Student Loan Guarantee began operation early in 2015, with a gradual roll-out across the Erasmus+ programme countries. Students should apply directly to participating banks or student loan agencies, a list of which is published on this site when these are in place. In addition, contact your Erasmus+ National Agency.

 

More information is available on the website of the European Commission: http://ec.europa.eu/education/opportunities/higher-education/masters-loans_en.htm.



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Last update on 30/10/2018 -
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