Finance

Erasmus grants are funded by the European Commission (EC) through the British Council.

Please note that there is no guarantee of payment or automatic entitlement to a grant and there maybe situations in which the funding will not be available.

The grants will not cover all normal student living expenses but are a contribution towards the extra costs arising from traineeship abroad.

More information is available on the British Council website.

Erasmus grants for 2016/17

Erasmus grant will depend on the country where your traineeship will take place:

Country

Monthly grant

GROUP 1 countries (high cost of living)

Country: Austria, Denmark, Finland, France, Ireland, Italy, Lichtenstein, Norway , Sweden

€430

GROUP 2 (medium cost of living)

Country: Belgium, Croatia, Cyprus, Czech Republic, Germany, Greece, Iceland, Luxembourg, Netherlands, Portugal, Slovenia, Spain, Turkey 

€380
GROUP 3 (low cost of living)

Country: Bulgaria, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia 

€380

When will I be paid?

The total grant will be paid in two installments:

1. 70% at the start, within 30 days following the signature of the Grant Agreement for Erasmus+ Traineeships by both parties.  

2. 30% at the end of the placement, upon successful completion of mobility period: provided you have submitted the Traineeship Certificate and have completed the online EU survey (must be done within 30 days from the end date of the mobility period).

We aim for the Finance department to transfer funds within 45 days after all required documents are received. Note that you might not be entitled to this second payment if, after calculation of the exact length of your stay, your first installment represented in fact the entire grant you were entitled to.

How are payments made?

Payments are made in GBP (pound sterling) by direct bank transfer from UAL to your UK GBP Sterling bank account only, using the bank details you provided in the grant agreement.

What happens if I cancel my study mobility or return early?

In all cases of cancellation or premature termination any Erasmus grant received must be repaid.