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Europe allocates more money to popular study-abroad program, Erasmus

July 2013, 09
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Study Abroad |

To counter the rising number of unemployed youth in Europe, the European Union is going to receive largest funding in its next budget. This program was started in the 1980’s and expanded into offering of jobs for academic staff and traineeship placements. This program was started after Desiderius Erasmus, a Dutch theologian of 15th century.  This program has been referred to be one of the European Union’s successful initiatives. The budget for this program is supposed to be 14.5 billion euros in the 2014-2020 budget.

Other initiatives like volunteer program along with sports and youth project are gathered into this program, and the name will be changed to "Erasmus+". In this program, the amount of the budget that is specially dedicated to education and training will be increased from 3.1 billion to 5 billion euros. The European Commissioner Education, Youth and Culture, Androulla Vassiliou, said that the Erasmus program is more important and required in times of high unemployment of youth and economic hardship. He said that the international experience and skills developed by Erasmus students is useful to get best employment opportunities.     

During the last three years, the unemployment of youth had become a major problem for the European Union. To tackle this problem, the EU leaders have allocated 8 billion euros which includes job or training for youth, within four months after completing their education. Hence, Erasmus helps the younger people in getting more education, and at the same time increase their chances of employment. With the help of this program, students can study anywhere for a year and pay the same fees that they payed in their home country

Funds have been set aside to offer loans to students who desire to complete their master degrees in foreign countries. The placement opportunities under this program will also go beyond the borders of Europe. Since 1987, the Erasmus program has helped over three million young European students to train or study in another country of Europe.

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