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Erasmus+ Master Loan

Erasmus+ Master

Loan

Préstec Màster Erasmus+

Now with the Erasmus+ Master´s Degree Loan, it´s easier than ever to study for a master´s degree in a European university.

Whatever your age and income , you can apply for the loan without security of any kind. And best of all: you’ll start repaying it a year after you finish your studies.

Apply for at any branch of CaixaBank.

FEATURES

  • Maximum amount:
    • €12,000.00 for courses up to 1 year
    • €18,000.00 for courses of more than 1 year
  • Interest rate: 5,15% annual, fixed throughout the term of the loan.
  • Repayment plan:
    • 5 years of repayments for a master’s course lasting up to 1 year.
    • 6 years of repayments for a master’s course lasting more than 1 year.
    • Repayment will be deferred1 from the time you sign the contract until a year after you complete your studies, and you can also have a 12-month period during the full term of the loan in which you can interrupt the repayments2.
  • Setup fee: 1%. No repayment, cancellation or origination fees.
  • No security needed

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Erasmus
 

FREQUENTLY-ASKED QUESTIONS

  • Who can apply for the Erasmus+ master's degree loan at MicroBank?

    The following people can apply:

    · Spanish residents who want to pursue a master's degree in another country of the European Union or associated countries (Iceland, Liechtenstein, Norway, the former Yugoslav Republic of Macedonia and Turkey).

    · Residents in any of the 28 member states of the European Union or in other associated countries, who want to pursue a master's degree in Spain.

    Applicants need to be residents of one of the countries eligible for the Erasmus+ program (residency needs to be obtained for a motive other than studying a Masters). And, in any case, residency must be obtained before the student is accepted by the university where they are going to study.

  • What are the requirements for applying for the Erasmus+ master's degree loan?

    The application requirements are:

    · Having completed the degree that leads to a master's in a country participating in the Erasmus Programme+.

    · Having been admitted by one of the institutions belonging to the programme. (http://eacea.ec.europa.eu/erasmus-plus/funding/erasmus-charter-for-higher-education-2014-2020_en)

  • What documentation do I have to submit to apply for the Erasmus+ Master Loan?

    It is essential that the applicant submits:

    A receipt for the enrolment fees or documentary proof of admission and the cost of the master’s degree course.

    Furthermore,

    In the event that the applicant is not resident in Spain, they must submit a certificate of their credit status in their country of residence. A list of the institutions and organisations where this information can be obtained can be consulted at the following link.

  • Can I apply for this loan to do a master’s degree in my own country?

    No, the Erasmus+ Master Loan is to support mobility in education, so it cannot be used to finance studies in your country of origin. This means that you must do the master’s course in a country other than your country of residence and in a country other than that in which you obtained your first degree.

  • What institutions are included in the programme?

    To be eligible for the Erasmus+ Master Loan you must do the master’s course at one of the institutions associated with the programme. The list of eligible institutions can be consulted using the following link.

  • Can I apply for the Erasmus+ Master's Loan if I only pursue part of the master's in a European country that belongs to the programme?

    Yes, as long as the requirements are met and at least 50% of the credits are obtained in an institution of any European country that belongs to the programme.

    The maximum loan amount is that which corresponds to the period in which the student is studying outside their country of residence. That is, a student pursuing a two-year master's course who studies a year in Spain and one in France may request a maximum of €12,000.

  • Where can I apply for the Erasmus+ Master Loan?

    You have to apply for it through a branch of CaixaBank, submitting the following documentation:

    • Certificate of completion of the degree previous to the master’s degree.

    • A receipt for the enrolment fee or documentary proof of admission and of the cost of the master’s course.

  • Can I apply for less than the set amount?

    Yes: the figures set are maximums, but you can just apply for the amount you need in each specific case.

  • What costs can I finance?

    Both enrolment fees for the master’s degree and other related costs (living, travel, etc.) can be financed.

  • If I’ve had an Erasmus grant during my previous studies, can I apply for this loan?

    Yes.

  • Can I combine an Erasmus+ Master Loan and an Erasmus grant?

    You can’t have an Erasmus grant and an Erasmus+ Master Loan to go to the same place. However, you can study for a full degree abroad if part of the course is done in another of the 33 countries in the Erasmus+ programme (providing this is not your country of origin, or a country where you have studied previously).

IRN: 1221-2015-09681