The United Kingdom and the European Union have finalized an agreement allowing Britain to take part in the bloc's Erasmus+ student exchange scheme.
More than 100,000 people are expected to benefit when they become eligible on January 1, 2027, the British government said in a statement on Wednesday.
The agreement is currently only for one year, and Britain will contribute 570 million pounds (€655 million, $774 million) towards the scheme's costs in 2027.
Erasmus is the EU's flagship student exchange scheme that allows people to study and train across much of Europe for up to a year.
It started in 1987 with university exchanges, but now also includes school exchanges, work experience, apprenticeships and sport.
Those participating aren't charged tuition at their host school or university; instead, they continue to pay the fees of their home institution.
It includes all 27 EU member states, plus Norway, Iceland, Liechtenstein, Serbia, Turkey and North Macedonia.
More than 1.4 million people trained, worked or volunteered in eligible countries in 2024, the latest year for which figures are available.
Why did Britain leave Erasmus?
After Brexit, which saw Britain formally leave the EU in January 2020, the EU offered Britain the chance to pay a fee to continue in the Erasmus program.
But the government of British then-Prime Minister Boris Johnson said the scheme was too expensive.
At the time, Johnson said that the UK lost money under Erasmus as twice as many EU nationals came to the UK to study as British students went elsewhere in Europe.
The UK officially quit Erasmus in January 2021.
Why is Britain returning to Erasmus?
The British government under Prime Minister Keir Starmer has been pursuing a closer relationship, or a "reset" with the EU.
In a significant policy reversal, the UK announced in December 2025 that it would rejoin Erasmus.
"From learning a language to building confidence and work experience, Erasmus+ offers transformative opportunities to enhance young people's life chances," UK skills minister Jacqui Smith said in Wednesday's statement.
European Commission President Ursula von der Leyen said Europe and the UK "have enjoyed mutually beneficial educational ties for centuries."
"Strengthening those ties further makes perfect sense on both sides — for our students, teachers, educational systems, economies and societies as a whole," she added in a statement.
As well as the UK, non-EU member Switzerland will also join the Erasmus scheme.
