Thousands of UK students will be able to study or work abroad from September 2021 through a new government programme known as the Turing Scheme.
This scheme replaces the EU’s Erasmus Scheme which is no longer available in the UK following Brexit. Here’s everything you need to know about the Turing Scheme.
[top_pitch]
Passive income stocks: our picks
Do you like the idea of dividend income?
The prospect of investing in a company just once, then sitting back and watching as it potentially pays a dividend out over and over?
If you’re excited by the thought of regular passive income payments, as well as the potential for significant growth on your initial investment…
Then we think you’ll want to see this report inside Motley Fool Share Advisor — ‘5 Essential Stocks For Passive Income Seekers’.
What’s more, today we’re giving away one of these stock picks, absolutely free!
What is the Turing Scheme?
The Turing Scheme is named after the famous British mathematician and code breaker Alan Turing. Its aim is to provide funding for students in universities, colleges and schools to go on placements and exchanges overseas.
Under the scheme, these institutions will be able to apply for grants to help cover the cost of projects that give their students opportunities to study or work abroad from September 2021.
If they are successful, these institutions can then invite their own students to make applications for individual funding.
A total of £110 million worth of funding is being made available to support projects and activities for the 2021/2022 academic year. Up to 35,000 students are expected to benefit from the scheme.
Applications are currently open and deadlines are as follows:
- Higher education funding – 12pm on Friday 9 April
- Further education, vocational education and training funding – 12pm on Friday 7 May
- School funding – 12pm on Friday 7 May
Who can use the scheme?
The scheme will be open to university students as well as students in vocational training, apprenticeships and those retraining via a school or college.
If you are in Northern Ireland, you can participate in either the Erasmus Scheme or the Turing Scheme.
How does the Turing Scheme differ from Erasmus?
First, the Turing Scheme will provide funding for placements across the world. The Erasmus Scheme only covers placements across the EU and a few non-EU countries that pay to be involved.
The government also says that the Turing Scheme is targeted at all students, particularly the most disadvantaged. Under the Erasmus Scheme, the most privileged UK students were 1.7 times more likely to benefit from studying or working abroad.
The Turing Scheme will also be providing funding for travel costs for disadvantaged students, as well as visas, passports and related travel insurance. The Erasmus Scheme only provided travel support to participants who travelled to partner countries. This only included around 3% of UK participants.
Regarding tuition fees, the government expects these to waived by host universities as was the case with the Erasmus Scheme.
If you’ve secured funding under the Erasmus Scheme, you can participate until the end of the 2021-22 academic year. After that, you’ll have to apply for the Turing Scheme.
[middle_pitch]
How much money can you get?
How much you get will depend on where you are going and for how long.
University students from poorer backgrounds are set to receive a maximum of £490 per month towards living costs. That’s equivalent to €573, which is more than the € 540 students were getting under the Erasmus Scheme.
As mentioned, students will also get funding for travel and other costs including insurance, passports and visa.
More information about the scheme, including how much you can get, can be found on the official Turing Scheme website.
What do I need to know about studying abroad?
Since Brexit, new immigration regulations that affect UK students going to the EU have come into effect. You can now only stay in an EU country for 90 out of every 180 days without a visa.
Before you travel, it’s a good idea to read the government’s guidance for UK students planning to study in the EU. It’s also worth reading the general advice for living in other countries across the world.
It’s a good idea to consider taking out comprehensive travel insurance to protect yourself from any mishaps or medical emergencies that could happen during your stay.
Finally, if you plan on studying abroad, think about taking a travel credit card with you. It’s safer and more convenient than cash and could come in handy in case of an emergency.
Travel credit cards don’t charge you for foreign transactions or cash withdrawals, which can reduce the cost of your stay.