Written answers

Tuesday, 22 May 2018

Department of Finance

ERASMUS Programme

Photo of Eoin Ó BroinEoin Ó Broin (Dublin Mid West, Sinn Fein)
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133. To ask the Minister for Finance if the ERASMUS+ master degree loans scheme backed by the European Union is being considered by his Department; if the loan product has been discussed with the financial institutions here; and if he will make a statement on the matter. [22049/18]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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The European Investment Bank has advised my Department that The Erasmus + programme is not a loan but a guarantee offered on student loans to masters students. As an Erasmus programme, its focus is foreign students pursuing Erasmus studies abroad in specific Programme countries rather than domestic students.

Currently the scheme is being made available through banks and universities abroad:

- Banks in Spain, France, UK and Turkey for outgoing students from these countries pursuing postgraduate study abroad and students from other Programme Countries going to Spain or UK for a Master course;

- Universities of Luxembourg and Cyprus for incoming students from other Programme countries going for a Master course at these universities.

I wish to advise the Deputy that while the potential to bring the Erasmus + master’s degree scheme to Ireland is being examined by the European Investment Bank Group with the University Bodies, so far, no decision has been made.

Further background information on Erasmus+ Degree Master Loans guarantee programme is available from the European Investment Fund and at the following website

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