Cabinet approves €11.5m in student allowances

The Council of Ministers on Tuesday approved €11.5 million in student allowances for the 2025-2026 academic year, alongside additional measures aimed at easing the financial burden on families. Speaking after the cabinet meeting, Finance Minister Makis Keravnos said the allocation represented a substantial increase on the €10 million initially budgeted for 2025. “Today’s decision reflects the Christodoulides government’s firm commitment to targeted measures that reach those who really need them,” he said. Keravnos also announced a separate allocation of €1.2 million in student benefits for families of Greek students studying in Cyprus and repatriated Cypriot families whose children are studying either on the island or abroad. He explained that the measure covers families who, because of their residence abroad, do not qualify for the regular student grant scheme, which has a budget exceeding €30 million. The cabinet also approved changes to the income criteria for student assistance, raising the maximum family income threshold from €39,000 to €44,000 for families with two children. For larger families, the income threshold starts at €64,000 and increases by €5,000 for each additional child. Families with more than five children will be exempt from income and property criteria altogether. “The finance ministry deemed it necessary to adjust the income limits so that the inflationary pressures of recent years do not leave families with real needs out of support,” Keravnos said. The minister also announced an increase in the student airfare allowance from €300 to €500, citing the continuing energy crisis and rising living costs. An additional €500 allowance will also be provided to first-year students. Keravnos said the measures were intended to help families meet the rising costs of education, accommodation, food and travel. Asked about the reasons behind the adjustments, he pointed to the pressures created by the energy crisis and the wider geopolitical situation, which he said continued to affect students, households and businesses. “We will continue to ensure that economic growth translates into real support for every family in need, while acting prudently and safeguarding the stability of public finances,” he said. Interested parties can submit their applications via the relevant electronic platform https://sg-yxe.mof.gov.cy which will be open on a date that is yet to be announced. To submit an application, parents or guardians are required to have an account with the CY login electronic service which can be created via https://cge.cyprus.gov.cy/cyloginregistration/register. Greek applicants do not require an account verification.