A new European Union educational plan was launched at a special ceremony at the City Theater in Reykjavík yesterday. The new plan includes a vast increase in educational funds for Icelandic universities.
Funds worth ISK 700 billion (EUR 7.9 billion, USD 10.2 billion) are to be granted to universities in Iceland between 2007 and 2013. From 1995 to 2006, Icelandic universities received ISK 2 billion (EUR 22 million, 29 million) in funds from the EU. Fréttabladid reports.
The goal with the increased funding is to further support the Erasmus exchange student program in Iceland. Since 1995, 8,500 students have been granted EU scholarships to take part in the program at Icelandic universities.
Exchange students have increased the most in Iceland per capita since the Erasmus program was launched in Iceland in 1992, compared to the about 30 other countries that participate.
In 2000, 142 Erasmus students were enrolled at universities in Iceland, but in 2006 they were 270. Eight Icelandic universities participate in the program.