EU lawmakers rally to protect Erasmus budget
The European Commission says Erasmus will not run out of money before the end of 2012. But if the shortfall in the 2012 EU budget is not resolved, it says funds from the 2013 budget will have to be used to cover the gap.
"Faced with the prospect of a continuing shortage of funds, universities and colleges are likely either to reduce the number of places they make available for the second semester of the 2012-2013 year, or to reduce the level of grants," the Commission warns.
This, it adds, "is likely to mean that students from more disadvantaged backgrounds will not able to take part in the scheme" during that year.