The European Investment Fund and the University of Cyprus 13 February signed an agreement that will allow students from other countries to postpone paying for tuition and renting a room on the university campus. This is reported by the news portal StockWatch with reference to the announcement of the European Commission.
The new scheme, which will require about 4 million euros, will be supported by the loan guarantees program for Erasmus + Master Loan Guarantee Scheme masters. As expected, the innovation will benefit more than 240 graduate students of the University of Cyprus. The terms of the new program include a two-year grace period for tuition fees and four years of loan repayment after graduation.
Thus, the University of Cyprus became the second university in Europe, which supported such an initiative. The first was the University of Luxembourg in 2017.