The EU has closed the funding gap for Erasmu

Androulla Vassiliou Commissioner for Education, Culture, Multilingualism and Youth "I am very happy that the Member States and the parliamentarians reached an agreement which is a big boost for Erasmus students and other beneficiaries of our programmes. It is a positive signal that Europe is committed to investing in education and skills."

The EU has closed the funding gap for Erasmus Current and future Erasmus students can be reassured: Member States and the European Parliament have averted a funding crisis which threatened the popular exchange scheme after a last-ditch agreement which has enabled the EU to plug a shortfall in the 2012 budget and remove uncertainty about funding for 2013. Thanks to the agreement, the Commission will be able to provide around 280 000 Erasmus student grants in the 2013-2014 academic year. The agreement also avoids problems for the other schemes run under the Lifelong Learning Programme (Leonardo for apprentices, Comenius for schools, Grundtvig for adult education), which enable young people and teaching staff to broaden their skills and career prospects through study or training in a foreign country. The budget deal also lifts uncertainty surrounding the Marie Curie Actions which support the international mobility of researchers. The agreement, formally approved today by the European Parliament after a green light from Member States last week, wipes out a €180 million deficit in the 2012 budget for the Lifelong Learning Programme; the shortfall caffecting Erasmus amounted top around €90 million out of this total. The agreement means that the Commission can now transfer necessary funds to the national agencies which are responsible for running Erasmus in the Member States. The agencies will then release funds to beneficiaries of the programme, including the home universities and colleges which pay the monthly grants to students. The Council and the European Parliament have also reached an agreement on the 2013 EU budget which means around €500 million for Erasmus €1 015 million for the Lifelong Learning Programme as a whole. Erasmus accounts for more than 40% of the Lifelong Learning programme budget. Nearly 90% of the Erasmus budget is invested in student and staff mobility. For more information: FAQ on Erasmus and its budget Erasmus hits new record with 8.5% increase in student exchanges The Erasmus programme in 2010-11: the figures explained