Aimed at boosting skills, employability and supporting the modernisation of education, training and youth systems, the seven-year programme will have a budget of €14.7 billion (40% higher than current levels). More than 4 million people will receive support to study, train, work or volunteer abroad, including 2 million higher education students, 650 000 vocational training students and apprentices, as well as more than 500 000 going on youth exchanges or volunteering abroad. Students planning a full Master’s degree abroad, for which national grants or loans are seldom available, will benefit from a new loan guarantee scheme run by the European Investment Fund. Erasmus+ will also provide funding for education and training staff, youth workers and for partnerships between universities, colleges, schools, enterprises, and not-for-profit organisations.
Two-thirds of the budget is allocated to learning opportunities abroad for individuals, within the EU and beyond; the remainder will support partnerships between educational institutions, youth organisations, businesses, local and regional authorities and NGOs, as well as reforms to modernise education and training and to promote innovation, entrepreneurship and employability.
The new Erasmus+ programme combines all the EU’s current schemes for education, training, youth and sport, including the Lifelong Learning Programme (Erasmus, Leonardo da Vinci, Comenius, Grundtvig), Youth in Action and five international cooperation programmes (Erasmus Mundus, Tempus, Alfa, Edulink and the programme for cooperation with industrialised countries). This will make it easier for applicants to understand the opportunities available, while other simplifications will also facilitate access.