The UK is rejoining the Erasmus scheme, five years after ending its participation as part of Brexit.
In an announcement on Wednesday, the government announced the UK will contribute approximately £570m to the scheme to cover the 2027/2028 academic year.
This is a 30% discount on the usual price for non EU member states, which is what the government would have paid under its current trade agreement with the bloc.
The UK quit the Erasmus programme in 2020, with then-prime minister Boris Johnson saying it didn’t offer good value for money.
The scheme sees the EU provide funding for university students to study, train or volunteer in other European countries for up to a year.
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It was replaced by the UK government’s Turing Scheme, which encountered a number of issues around funding.
But as part of Labour’s efforts to fix relations with the EU, the government agreed to reopen negotiations on Erasmus at the UK-EU summit last May.
EU Relations Minister Nick Thomas-Symonds said the move to rejoin the scheme was a “huge win” for young people and that it will ensure everyone has the opportunity to study and train abroad.
“This is about more than just travel: it’s about future skills, academic success, and giving the next generation access to the best possible opportunities,” he added.
Rejoining the scheme is part of the government’s general efforts to forge closer relations with Brussels, and is expected to be seen as proof by the EU that the UK government wants to make progress in improving relations.
Reacting to the news on social media, London Mayor Sadiq Khan said rejoining Erasmus would open up “xciting opportunities for young people, giving Londoners, Brits & their European counterparts access to a wealth of possibilities.”
“At a time of global uncertainty, strengthening our partnership with the EU is a win-win for growth and prosperity,” he added.
The Lib Dems’ universities spokesman Ian Sollom said it represented a “moment of real opportunity and a clear step towards repairing the disastrous Conservative Brexit deal”.