$1.2B in Grants for Non-European Students and Scholars to Engage in Europe

Wow. The European Union has something as a stimulus package for its higher education institutions, who can now use funds from a billion-dollar+ reserve that lets the program, Erasmus Mundus, support non-European students studying in the EU. As well, it will likely assist European students in studying outside of Europe.

In the period 2004-2008, Erasmus Mundus and the Erasmus Mundus External Cooperation Windows offered more than 10,000 scholarships to students and academics from all over the world, with a combined budget of € 609 million. The programme offered the opportunity to third-country students to obtain a degree in Europe, and to academics to share know-how and to contribute to study programmes through teaching or research activities whilst avoiding the brain drain and favouring vulnerable groups. Thanks to these exchanges and through cooperation with non EU partner countries the programme also made a significant contribution to the enhancement of intercultural dialogue and to the sustainable development of higher education in third countries.

The Erasmus Mundus programme (2009-2013) will fully integrate the former 'Erasmus Mundus External Cooperation Windows' and continue to support partnerships between EU and non-EU higher education institutions as a basis for mobility among students and academics.