The popular Erasmus programme has enabled nearly three million students and teachers to study and work abroad, but its continued functioning was threatened by the funding shortfall in the 2012 EU budget. It has now been saved for the time being thanks to Parliament negotiating a €6 billion deal to cover outstanding bills as well an agreement with the other EU institutions to deal with any shortfalls in 2013 promptly. MEPs adopted the budget package during the December plenary.
Launched in the late 1980s, Erasmus is part of the EU's Lifelong Learning Programme, which enables Europeans to learn and develop new skills throughout their lives. Erasmus deals with higher education and its goal is to create a European higher education Area and foster innovation in Europe. The most popular destinations for Erasmus students are Spain, France and Germany. If you are considering studying in another member state, check out our infographic to find out how expensive it is.