Heightened interest in academic scholarships has led to an increase in the budget of the State Scholarship Foundation (Ikyk), MPs heard on Monday.

The leadership of the foundation was in parliament to discuss the supplementary budget for this year, as well as the foundation’s budget for 2026.

Ikyk’s supplementary budget for 2025 comes to €1.7 million. Also, the regular budget for 2026 will be larger than the 2025 balance sheet.

This reflected the increased interest in scholarships, said its president Marios Vryonides.

He promised that a more “functional” platform would be launched to handle applications.

Answering MPs’ questions, Vryonides confirmed that private individuals may also make donations to the foundation.

The foundation is meanwhile looking to move into self-owned premises, in Aglandjia, Nicosia.

Ikyk is a government body that provides scholarships to Cypriot, EU, and non-EU students based on academic merit and/or socio-economic status.

Scholarships are awarded for undergraduate, master’s, and doctoral studies, and can cover studies both in Cyprus and abroad. Applications are submitted electronically through the government’s portal, and require a CY Login account.