Schools Training

Expect few takers for European postgrad loans, expert says

30 DEC 2013
Topic : Education News

The take-up of much-anticipated loans for postgraduate students is likely to be limited because of an aversion to student debt in many countries, an expert on European education has warned.

From 2014-15, students in 33 European countries will be able to access bank loans of up to €12,000 (£10,133) a year to cover the cost of studying a one-year master’s in a foreign country, with favourable rates available thanks to a guarantee from the European Investment Fund.

Over the next seven years, some 200,000 students are expected to access the loans, using 5 per cent of the €14.7 billion Erasmus+ budget for 2014 to 2020, agreed by the European Parliament last month.

But Barbara Kehm, professor of leadership and international strategic development in higher education at the University of Glasgow, has questioned whether students in some countries will take out the loans.

“The idea of taking on a lot of debt to study is totally alien to German students,” said Professor Kehm, a former director of the International Centre for Higher Education Research at Kassel University, in central Germany.

Read full article: The Higher Education