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Cyprus parliament Revises Student Aid Law, Grants Up 10% For Incomes Up To €44,000

Overview

Parliament approved amendments to the State Student Assistance Law, expanding eligibility criteria and increasing financial support for students. Changes include higher income thresholds, increased grant amounts and removal of income and asset criteria for large families.

Key Revisions

Lawmakers increased the eligible household income threshold by €5,000, expanding access to state support. Families with annual income up to €44,000 will receive a 10% increase in student grants under the updated framework.

Eligibility rules were revised to remove income and asset criteria for families with more than five dependent children. Previous restrictions on combining student aid with tax deductions were also removed, allowing broader financial support. Authorities may extend the application deadline subject to approval by the Council of Ministers.

Voices From Parliament

Sotiris Ioannou, Member of Parliament representing E.L.A.M, said the changes will expand access to support with limited budget impact. He added that families with four children remain partially excluded under the current criteria.

Alekos Tryfonidis, Member of Parliament from DIPA, said higher income thresholds and the removal of asset requirements will allow more students to access funding. He noted that eligibility rules for households with four dependent children remain unresolved.

Christos Christofidis, Member of Parliament from AKEL, said the amendments mark progress after years without changes to student support policy. He added that approximately 3,200 additional families are expected to benefit from the revised framework.

Impact And Implementation

The updated law expands the number of eligible households and increases financial support levels. Changes are expected to improve access to higher education funding across different income groups. Implementation will depend on application uptake and administrative adjustments following the legislative changes.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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