In Belgium, it is normally easy for students undertaking academic studies to gain access to grants and loans. The grants mainly cover costs involved in the study of specific study or research programs that students wish to pursue at all levels. Students can also have easy access to loans from loan companies .
In general, the awarding of grants are made to scholars of proven and outstanding accomplishment in the academic field of studies they have chosen to follow in post graduate fields. Some of the most prestigious grants are enumerated below.
Grants: International students are permitted to obtain study finance or a grant from the Flemish authorities. However, before qualifying for a grant an applicant must satisfy any one of the following conditions. Students who apply must be residing in Belgium and whose parents are EU-nationals who are or have been employed in Belgium as employees; they must have been granted a permanent residence permit for Belgium; they must be a child of a candidate-refugee whose request for asylum has been approved.
In Belgium grants are given to candidates who are between 17 and 35 years of age at the time of the grant, but are not eligible if they fail their first attempt. However, if a student is successful after the first failure, the right to the original grant is regained. If the student fails twice, he must successfully pass 2 consecutive years in the same subjects to regain the right to a grant. Three failures automatically disqualifies the student from any entitlements to a grant.Loans: Most loans that are taken out by students pursuing academic studies in Belgium are guaranteed by government. For students to be eligible they must of course be accepted for admission into an institution of higher learning in Belgium. They must accept the subsidized 2% interest on the loan and repay the loan according to the stipulated conditions.
International students can also avail themselves to an international student loan when they decide to embark on an academic course of study in any of the institutions of higher education in Belgium. The attended university must be listed as being qualified for receiving international student loan.
The bulk of grants that are offered to aspiring students are essentially made by authorities, universities, foundations and funds in both Belgium as well institutions in countries from all over Europe.