The European Commission presented its proposal for the next Erasmus programme. The new EU programme could get the chance to study or train abroad up to 5 million people, almost twice as many as now. In addition, Master's degree students would also benefit from a new loan guarantee scheme set up with the European Investment Bank Group.

The European Commission's proposal on the next Erasmus programme increases the possibility to study or train abroad with a grant up to five million people. Among them, it would be nearly three million higher education and vocational students. Master's degree students would also benefit from a new loan guarantee scheme set up with the European Investment Bank Group. The record number of Erasmus students was reached in 2009/10 academic year. The seven-year Erasmus for All programme, which would have a total budget of €19 billion meaning an increase of approximately 70% compared to the current seven-year budget, is due to start in 2014.

Erasmus for All would bring together all the current EU and international schemes for education, training, youth and sport, replacing seven existing programmes with one. This will increase efficiency, make it easier to apply for grants, as well as reducing duplication and fragmentation. The new programme will focus on EU added value and systemic impact, with support for three types of action: learning opportunities for individuals, both within the EU and beyond; institutional cooperation between educational institutions, youth organisations, businesses, local and regional authorities and NGOs; and support for reforms in Member States to modernise education and training systems and promote innovation, entrepreneurship and employability.

Thanks to the new programme structure, together with its significantly increased investment, the EU will be able to deliver many more opportunities for students, trainees, young people, teachers, youth workers and others to improve their skills, personal development and job prospects. Erasmus for All will also promote research and teaching on European integration, and support grassroots sport.