<h2 class="text-align-justify">FINANCIAL SUPPORT</h2><p class="text-align-justify"><strong>Financial support </strong>aims to alleviate at least part of the financial burden of higher education, including students’ study costs (fees, equipment, books, etc.) and living expenses (accommodation, transport, food, etc.).</p><p class="text-align-justify">The main public financial support mechanisms are:</p><ul><li><p class="text-align-justify"><strong>direct financial support</strong> to students through <strong>grants</strong> and <strong>loans</strong></p></li><li><p class="text-align-justify"><strong>indirect financial support</strong> through<strong> allowances</strong> or <strong>tax incentives</strong> to students and/or their parents</p></li></ul><p class="text-align-justify"><strong>Direct financial support</strong> implies that students receive financial support to cover their expenses directly. <strong>Indirect financial support</strong> may benefit students but is directed via other channels. </p><p class="text-align-justify"><strong>Grants</strong> are the most common form of student support in Europe, and the most significant in supporting students, as the money awarded does not have to be repaid. <strong>Loans</strong> have to be repaid, but in publicly subsidised schemes governments bear a part of the costs, for example through applying reduced interest rates. </p><p class="text-align-justify">The main forms of indirect financial support are<strong> allowances </strong>that in some systems may be paid to students' families, or<strong> tax incentives.</strong></p><p class="text-align-justify"> </p><div><hr><div><p class="MsoFootnoteText"> </p></div></div>
Students' parents may be eligible for tax benefits or family allowances in some systems. These types of financial support are based on the notion that typical-aged students remain dependent on their parents’ financial resources.
Tax benefits for students' parents allow parents who support their student-child to deduct a defined amount of money from their (income) tax. The amount of tax deduction often takes into account the number of dependent children in the household, and students’ age.
Parents/guardians of those studying in higher education may be eligible for family allowances in some systems. The number of dependent children, total family income and age may be taken into consideration.
