Heading off on an Erasmus Plus program to study abroad? Before you start this life-changing adventure, it’s important to plan ahead. Estimating your living costs and setting a rough budget will make all the difference when it comes to enjoying the experience.
The cost of living can be very different depending on the city you choose to study in. Things like accommodation, food, and transport can add up, so it’s helpful to understand the costs before you go.
Living costs during your Erasmus program
The cost of your Erasmus experience will largely depend on the city you choose to live in. Factors such as local living expenses and accommodation costs can vary significantly from one destination to another. To give you a better idea, we’ve prepared a comparative table of the average monthly living costs and accommodation expenses in some of the most popular Erasmus cities.
You can check the costs for other cities using the Erasmus+ App living costs calculator.
Erasmus grant: What you need to know
To help students manage living expenses and accommodation costs, the Erasmus program offers financial support through its Erasmus grant. Here’s what you need to know:
- Grant agreements are signed by either your home or host institution, they apply for funding on behalf of their students.
- If you’re awarded a grant, you’ll sign a participant agreement with them.
- This grant provides financial support for your travel and daily living expenses.
The Erasmus grant amount is determined by several factors, such as:
- Differences in living costs between your home and destination country.
- Number of students requesting grants
- Distance between the countries
- Availability of other funding options
To help you have a clearer idea of what you might receive for your journey, here’s a breakdown of estimated Erasmus grant amounts based on the origin and destination country.
Want to calculate an estimate of your Erasmus grant? Check out this tool: Erasmus+ Grant simulator.
Other considerations
As an Erasmus Plus student, you don’t have to pay for tuition, registration, examination, or fees for access to laboratories or libraries at your host institution. However, small fees for insurance or student union membership may still apply.
While planning your budget, don’t forget to think about unexpected expenses. Medical emergencies, lost luggage, or trip interruptions can drain your savings if you’re not prepared. By getting insured before your Erasmus journey, you can avoid out-of-pocket costs if the unexpected happens. Despite what you might have heard, travel insurance can be budget-friendly, for instance, with OnCampus Abroad Erasmus student insurance, you’ll be covered for all the Erasmus Plus program requirements and more for less than the cost of your daily coffee.
Final thoughts
Planning your budget is key to making the most of your Erasmus experience. Remember to think of all potential costs, including accommodation costs, food, travel, health, and daily expenses to have a clear picture of what to expect. With the right preparation, your Erasmus adventure will not only be affordable but unforgettable.
You can also check out our article on budget-friendly tips for student travel.
Safe travels!
