Cyprus 2016/17 - grants and loans

Student grants

A 'student grant' can be awarded to short cycle and 1st and 2nd cycle students to support their studies in Cyprus or abroad. To be eligible students must have resided in Cyprus for at least five years before enrolment. The amount of the grant is based on family income. The annual amount ranges from EUR 1 450 to EUR 3 420.

The 'student allowance' is a targeted need-based grant to cover living, books, rental, and computer expenses of 1st cycle students based on their socioeconomic status. The amount is EUR 3 692 per year. A new Student Welfare Service is established to manage the student grant and the student allowances.

The State Scholarship Foundation awards scholarships based on students' academic performance and socio- economic status. Students studying in 1st cycle programmes may receive up to EUR 3 000 per year, in 2nd cycle programmes EUR 4 000 per year, and EUR 4 000 in a PhD programme (3rd cycle).

Loans

Study loans are available only for owners of property in the northern part of Cyprus. This is a state loan for 1st, 2nd and 3rd cycle students who study in Cyprus or abroad. The annual amount ranges from EUR 1 700 to 8 000 and should cover living expenses and tuition fees. Repayment in general starts one year after graduation and should be completed within 20 years. The interest rate of the loan is 1.75 %. Around 1.5 % of students take out the loan.