<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>
In most European higher education systems, grant amounts vary according to different award criteria. Only a few systems provide a flat-rate contribution (i.e. all eligible students receive the same amount of grant).
