Erasmus+ Master Loan
The Erasmus+ Master Loan is now available in France, Spain and the UK. The scheme aims to give graduates access to more affordable loans to study for a Masters degree in another country.
What is the Master Loan?
The loan is to help Masters students with their living and tuition costs when studying in a different country from their country of residence. The terms of the loan are designed to make repayment easier, including:
- no need to provide collateral when applying for the loan;
- an interest rate lower than the market rate;
- · a ‘grace period' of up to one year before repayments begin;
- · a further 'payment holiday' of up to one year.
In the UK, the Erasmus+ master loan is offered through Future Finance for students from the UK taking their Masters degree in one of the 33 Erasmus+ Programme countries or for students from these countries moving to the UK to study for their Masters. Applications or enquiries must be made directly to FFLC.
See https://www.erasmusplus.org.uk/master-loan for full information and eligibility criteria