Cyprus Cabinet Approves €11.5 Million in Student Allowances and Raises Income Limits

Nicosia, Cyprus. The Council of Ministers on Tuesday approved €11.5 million in student allowances for the 2025-2026 academic year, together with further steps meant to ease the financial strain on families. Finance Minister Makis Keravnos said the sum is well above the €10 million originally budgeted for 2025.

Aim of the allocation

Speaking after the cabinet session, Keravnos said the decision shows the Christodoulides government’s firm commitment to “targeted measures that reach those who really need them”.

Support for families living abroad

Keravnos announced a separate €1.2 million in student benefits. It is intended for families of Greek students who study in Cyprus, and for repatriated Cypriot families whose children study either on the island or overseas.

He explained that these families are not eligible for the regular student grant scheme because they reside abroad. That scheme has a budget of more than €30 million.

Changes to income criteria

The cabinet also approved revised income criteria for student assistance. For families with two children, the maximum income threshold rises from €39,000 to €44,000.

For larger families, the threshold begins at €64,000 and goes up by €5,000 for each further child. Families with more than five children will not be subject to income or property criteria at all.

Keravnos said the finance ministry considered the adjustment necessary so that inflationary pressures of recent years do not leave families with genuine needs without support.

Higher airfare allowance

The minister further announced that the student airfare allowance will increase from €300 to €500. He cited the continuing energy crisis and rising living costs as the reasons.