Finance Minister Makis Keravnos has revealed the decision of the Ministerial Council to provide extra financial assistance to Cypriot students both in Cyprus and abroad, with a total amount of €4 million.
Speaking after the Ministerial Council meeting, Keravnos stated that the decision “involves the utilization of unspent funds from the budget allocated for state student care,” adding that “an additional sum of €4 million will be allocated to all students studying in Cyprus and abroad based on specific criteria.”
“This is an additional financial support for our students,” he added.
He also mentioned that the financial aid, which is separate from the student grants provided by the Ministry of Finance, “covers a food allowance of €1,092 and a living allowance of €500.” He further explained that disbursements would take place in the coming days.
Keravnos stated that the additional financial support would be given based on the height of each student’s merit and emphasized that there are various criteria to be considered.
When asked about the origin of this unallocated amount, Keravnos mentioned that “it is not possible to make an exact prediction every year” because they do not know how many students there are and the economic situation of each student.
“Therefore, an unallocated amount of €4 million remained, and the Ministerial Council decided today to allocate it to our students,” he concluded.
