Brussels, 01/12/2015 (Agence Europe) - French Masters students will soon be able to have easier access to loans to study abroad. On Tuesday 1 December, the European Commission concluded a contract guarantee for a total amount of €30 million with the French bank BPCE, as part of the Erasmus+ programme.
This programme complements the exchange programme of the same name and allows for students to benefit from advantageous lending conditions through the Erasmus+ guarantee, which divides the risks between the bank and the European Commission. In this context, students can request loans that range from €12,000 for a one-year Masters or €18,000 for a two-year Masters degree abroad, without needing a guarantee and by benefiting from competitive interest rates.
The agreement with the BPCE targets French graduates who are preparing a Masters in one of the 33 countries taking part in the Erasmus+ programme, as well as students from these countries who go to France to study for a Masters. An initial agreement of this kind was concluded in June 2015 with Microbank in Spain (€30 million). (Sophie Petitjean)