The Cabinet on Tuesday approved expenditure of €11.5 million for student allowances for the 2025-2026 academic year, Finance Minister Makis Keravnos said.
Mr Keravnos said the amount is higher than the €10 million allocated for 2025. In a second decision, the Cabinet approved €1.2 million, an increase of €200,000, for allowances for families of Greek students studying in Cyprus and repatriated families of Cypriot students studying in Cyprus or abroad.
The minister explained that this particular allowance is for families who, because they live abroad, are not covered by the regular student grant, which exceeds €30 million.
Under the decisions, the maximum family income threshold for families with two dependent children rises by €5,000, from €39,000 to €44,000. For families with more children, the threshold starts at €64,000 and increases by €5,000 for each additional child. All income and asset criteria are also being removed for families with more than five children.
Cost-of-living
Keravnos added that, due to the energy crisis, the air-ticket allowance for students is increasing from €300 to €500. The allowance covers accommodation, food and air travel, while first-year students will also receive an additional €500 allowance.
“Today’s decision precisely reflects the Christodoulides government’s consistent priority of taking targeted measures that reach those who truly need them,” Mr Keravnos said.
As he noted, “the Ministry of Finance deemed it necessary to adjust the income thresholds so that inflationary pressures in recent years do not leave families with genuine needs without support”.
“We will continue to ensure that economic growth translates into real support for every family in need, with prudence and with respect for the stability of public finances,” the minister said.
Asked about the reasons for the adjustment, the minister said this year’s changes took into account the cost-of-living difficulties caused by the energy crisis, as well as the particularly difficult geopolitical environment, which affects students, households and businesses.
According to an announcement by the Ministry of Finance’s Grants and Allowances Service, applications must be submitted exclusively online through the Service’s platform at https://sg-yxe.mof.gov.cy. The platform will open for applications on a date to be announced.
Application process
To apply, parents or guardians must have a CY Login account, which provides secure access to the state’s online services. Those who do not have an account can create one at https://cge.cyprus.gov.cy/cyloginregistration/register.
Cypriot repatriated applicants must also verify their account through e-banking, by video call or by visiting a Citizen Service Centre, bringing their identity card. Instructions are available at https://cge.cyprus.gov.cy/cyloginregistration/knowledgebase/help/identification. Greek applicants are not required to verify their account.
“The date for the opening of applications will be announced in the coming days. Families falling into the above categories are urged to create a CY Login account in good time and, where required, verify it, so that they can submit their application as soon as the platform opens,” the announcement said.
Source: CNA
