Another Dark Day for the British Wallet, Erasmus and the £8bn Boondoggle
The UK government has announced plans to rejoin the Erasmus student exchange programme in 2027. Prime Minister Keir Starmer’s administration will allocate £570 million per year for the scheme, a significant increase from the £78 million spent on the Turing scheme, its British replacement.
The decision to rejoin Erasmus was confirmed in December 2025, reversing Boris Johnson’s earlier withdrawal over cost concerns. Under the previous system, around ten EU students came to the UK for every British student studying in Europe.
By 2020, EU students had accumulated £5.3 billion in unpaid UK student loans, with repayment rates estimated at just 20 to 25 percent. Despite this, the Labour government did not address outstanding loan debts before rejoining the programme. Brussels is set to expand Erasmus funding by over 50 percent from 2028, which could push the UK’s annual contribution to £1.25 billion. The total cost for Britain between now and 2034 may reach £8.75 billion. Critics argue the £570 million yearly fee could instead fully fund tuition and living costs for tens of thousands of disadvantaged British students.
The UK’s return to Erasmus marks a major shift in education policy. With the programme’s budget set to rise, the government’s financial commitment will grow significantly in the coming years. The move also raises questions about how the funding could have been used to support domestic students instead.
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