International Funding for Overseas Education: Financial Aid for Studying Abroad with Erasmus+ Grant
The Erasmus+ grant, a financial aid for students participating in the Erasmus+ mobility program by the European Union, is available to all students at Austrian universities under certain conditions. The Austrian Exchange Agency (OeAD) is responsible for distributing this grant.
The Erasmus+ grant amount varies by country based on the cost of living and is grouped into three categories: high, medium, and low.
For countries with higher living costs, such as Austria, Belgium, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Liechtenstein, Luxembourg, Norway, and Sweden, monthly grants range approximately between €292 to €580.
Countries with medium living costs, including Cyprus, Czechia, Estonia, Greece, Latvia, Malta, Portugal, Slovakia, Slovenia, and Spain, typically offer monthly grants between €225 to €530.
Countries with lower living costs, such as Bulgaria, Croatia, Hungary, Lithuania, North Macedonia, Poland, Romania, Serbia, and Turkey, also have grants that generally range around €225 to €530, similar to Group 2 in some schemes.
Some institutions may apply a monthly supplement for internship mobilities, such as €150. Grant amounts are periodically adjusted yearly according to the European Commission budget and the number of mobilities.
The grant is split into two rates: 80% is paid at the beginning of the stay, and the other 20% is paid after return. However, an early return may result in a reduced second rate, as the grant is calculated exactly to the date.
Top-Up payments can be applied for via the platform "Mobility Online" for various reasons, including environmentally-friendly travel, students with disabilities, students with children to care for, students with chronic illnesses, and recipients of student allowances.
No tuition fees are required for the receiving university. To claim the Erasmus+ mobility scholarship, you need the "Erasmus+ student" status, which is assigned when signing the scholarship agreement via the Erasmus platform "Mobility Online". You also need to earn 3 ECTS per month at the receiving university, but only the ECTS that are recognized by the Austrian university count.
Your stay abroad must be between two and twelve months, and you cannot exceed the twelve months. This means you can study abroad for twelve months during your bachelor and then again during your masters or PhD. The scholarships may vary for internships abroad, so students should ask the Erasmus office at their university or the OeAD for the exact amount.
In summary, the key factor determining the Erasmus+ grant amount for different countries is the classification of the destination country into cost-of-living groups (high, medium, low), with higher living cost countries receiving higher monthly grant payments. The Erasmus+ grant is a valuable resource for students seeking to study or intern abroad, offering financial support to make this opportunity more accessible.
[1]: [Source 1] [3]: [Source 3] [5]: [Source 5]
1.To maximize personal-finance while pursuing education-and-self-development, students can take advantage of the Erasmus+ grant, providing financial aid for those participating in the Erasmus+ mobility program.
2.When planning to learn in a country with higher living expenses, like Austria, students can expect monthly grants between €292 to €580, which can significantly aid in their personal-finance management.
