Eoin Ó Broin (Dublin Mid West, Sinn Fein)
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187. To ask the Minister for Education and Skills 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. [22048/18]

Richard Bruton (Dublin Bay North, Fine Gael)
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The Master Loan Guarantees scheme was introduced by the European Commission as part of the new Erasmus+ programme in 2014.  The initiative was promoted by the Commission and in particular to the banking sector in all member states including Ireland by the European Investment Bank who issued the call and managed the selection.  The HEA also communicated the initiative to the Irish Bankers Federation.

I understand that only six banks in Europe have been approved under the scheme, and there were no Irish applicants.