International Spotlight: Erasmus Masters Funding in 2016

The EU referendum result may have a future impact on international study - at least in Europe - but it won't change anything if you're considering a Masters next year.

So, as an antidote to the 'Brexit blues', we thought we'd take a look at some of the great opportunities available to postgraduates who are willing to look a little further for their degrees.

And where better to start than with the Erasmus programme?

The Erasmus programme is an international study exchange and mobility initiative, first established in 1987.

At its core, Erasmus supports collaboration between universities, students and scholars, across international borders.

Postgraduate education is a big part of this. If you're a current or prospective Masters student, there's a good chance the Erasmus programme will fund you to study all or part of your course abroad.

Who runs the Erasmus programme?

Erasmus is set up, funded and administrated by the European Commission - the executive branch of the European Union.

But not every country that participates in Erasmus is an EU member and you don't necessarily have to be an EU citizen to receive support. We'll cover the possible impact of Brexit on Erasmus funding further down the page.

Why 'Erasmus'?

Isn't it obvious? 'Erasmus' stands for 'European Region Action Scheme for the Mobility of University Students'.

OK, the acronym is a little forced.

That's because the programme is actually named for the Dutch philosopher, Desiderius Erasmus Roterodamus. During the fifteenth and sixteenth centuries he lived and studied across Europe, helping to spread new ideas and foster the development of the Renaissance.

As a modern Erasmus student you could do the same - except, perhaps, for the Renaissance part.

What is Erasmus+?

Erasmus funding is organised into phases, with set budgets. The current initiative is called 'Erasmus+' and runs until 2020. It inherits a lot of earlier funding activities (such as joint degree programmes) and adds a few of its own. The most important is a new system of student loans for Masters study abroad. We'll come to those in a bit.

So Erasmus+ is the latest, best, version of Erasmus, but it's not a separate funding scheme.

The full Erasmus funding portfolio is very broad. We'll stick to funding that's specifically for Masters degrees here, but you can read more about Erasmus PhD funding and mobility grants elsewhere.

As of 2016, there are two main funding opportunities available for Masters students.

Joint Masters Degrees

These are degree programmes offered by partnerships of universities in different countries.

They offer full scholarships for participating students, with up to €18,000 available for tuition fees and up to €24,000 available for living costs.

Erasmus Masters Loans

As well as continuing to fund joint programmes, Erasmus+ also introduced an exciting new funding opportunity: the establishment of international student loans for Masters degrees.

These are provided by participating banks, but backed by the European Commission. They offer up to €12,000 for a one year Masters and up to €18,000 for a two year course.

Who can apply for Erasmus funding?

There are two levels of participation in the Erasmus programme:

• The 33 Programme Countries participate fully. They include all EU members, plus five other European Countries. Citizens of Programme Countries can apply for Joint Masters Degrees and Masters Degree Loans.
• 22 other nationals also participate in Erasmus as Partner Countries. These include countries outside the EU. Citizens of Partner Countries can apply for Joint Masters Degrees, but are not eligible for Erasmus Masters Loans.

You can read more about participating countries in our full introduction to the Erasmus programme.

Erasmus funding is in a slightly strange place when it comes to Brexit.

In principle, the scheme operates within the EU. It is overseen by the EU's European Commission and fully participating Programme Countries are either EU members, EU candidate members or members of the EEA (which shares many functions with the EU).

The UK is currently one of those Programme Countries. This means UK students have access to funding for Erasmus Mundus Joint Masters Degrees and can already apply for Erasmus Masters Loans to study in Spain or France.

Leaving the EU will mean this access has to be renegotiated, but that doesn't necessarily mean that the UK would cease to have access to Erasmus - or even cease to be a Programme Country.

Brexit and Erasmus: three scenarios

The following are three possible outcomes for UK participation in Erasmus, post-Brexit:

• UK remains a Programme Country - Not all Programme Countries are EU members and it's not certain that the UK would have to relinquish Programme Country status. Other members would also have an interest in maintaining the UK's participation as a popular host country for Erasmus students. This outcome is more likely if the UK becomes part of the EEA, or negotiates favourable study mobility and student visa terms with the EU. Remaining a Programme Country would have no significant effect on the UK's access to Erasmus.
• UK becomes a Partner Country - Partner Countries are not EU or EEA members. Their participation in Erasmus is more limited, with no current entitlement to the Erasmus Masters Loans scheme. Refusal to cooperate with key EU policies could see the UK become a Partner Country. This occurred for Switzerland when the country voted to limit free movement of people in 2014. However, there would probably be strong support amongst members for the UK to remain as a Programme Country. UK universities will also emphasise the importance of Erasmus membership and the value of study mobility more generally.
• UK leaves Erasmus - Failure to agree suitable terms with the EU could lead to the UK losing Erasmus access. Alternatively, the UK might decide to establish its own study mobility programmes with individual countries or groups of countries. This outcome is unlikely, but not impossible.

Erasmus from 2016 onwards - reassurances

Whatever happens in the future, the referendum has no immediate effect on Erasmus funding for UK students - or for Erasmus students looking to study in the UK.

This has been confirmed by Jo Johnson, UK Minister of State for Universities and Science:

"The referendum result does not affect students studying in the EU, beneficiaries of Erasmus+ or those considering applying in 2017. The UK’s future access to the Erasmus+ programme will be determined as a part of wider discussions with the EU.

More broadly, existing UK students studying in the EU, and those looking to start in the next academic year, will continue to be subject to current arrangements."

The UK's own Erasmus+ portal has also released a statement, reassuring current and future students:

"There is no immediate change to the UK’s participation in the Erasmus+ programme following the EU referendum result and the UK National Agency will continue to manage and deliver the programme across the UK.

All participants and beneficiaries should continue with their Erasmus+ funded activities and preparation for the published application deadlines in 2016 and 2017.

Whatever happens next, we'll be keeping a close watch on any changes to Erasmus funding for postgraduates. Our guides will stay updated and we'll cover any future developments on this blog.

For now though, Erasmus funding is available - and well worth considering if you're interested in studying your Masters abroad.