The European Union has a scheme of affordable postgraduate student loans for study at Masters level, to promote increased mobility for study in Europe.
The loan is called the ‘Erasmus+ Master Loan’, which is separate from the Erasmus Exchange scheme. The RCM’s Erasmus Exchanges offer short periods of study abroad. Students on these exchanges are not eligible for the Erasmus+ Master Loan.
Loans can be for up to €18,000 towards tuition fees for a Masters course (eg MMus) and living costs, with favourable repayment terms.
To apply you must be resident in a member state of the EU, or an associated country (currently Iceland, Norway, Turkey, Liechtenstein and the Former Yugoslav Republic of Macedonia).
You must also be planning to study in a country that is:
- Not your home country.
- Not the country where you completed your undergraduate degree (ie you would not be eligible if you have already completed a BMus degree in the UK).
More details are available on the European Commission website.
Loans will be offered by participating banks and student loan agencies, and are being rolled out on a country by country basis.
For the latest information about whether these loans are now available in your country, and about how to apply, you should contact the National Agency of your home country.
Undergraduate EU students are not eligible for this scheme. However, they are eligible to apply for a student loan from the UK Government to cover their tuition fees.