The budget for student grants is to rise to €62 million, government spokesman Konstatinos Letymbiotis said on Thursday, with a bill to expand the budget to he “immediately” sent to parliament.

This increase, he said, will “significantly expand the circle of beneficiaries” and “strengthen the level of support for thousands of families”.

He added that all the family income brackets regarding the grant will increase by €5,000, meaning that students from households earning as much as a combined €44,000 per year will now be eligible for the maximum grant amount, while grants will be extended to students from households earning as much as a combined €64,000 per year.

At the same time, he said, “a ten-per-cent increase is foreseen in the level of student grants offered for [students from] families with an annual income of up to €44,000, essentially strengthening their income in a period of increased educational and family needs”.

This increase will see the maximum grant amount rise from €1,710 to a likely €1,881.

Letymbiotis also announced that students from families with five or more children will now be eligible for grants regardless of their families’ income levels, saying that “welfare for large families is also of particular importance”.

“The political message is clear. Responsible economic policy creates the fiscal space which allows the state to pursue targeted and effective social policy. Economic stability is not an end in itself. However, it is the tool which allows us to support society, and especially the next generation,” he said.

He added that “simply put, when the economy is managed responsibly, society wins”, and that “investing in our students is an investment in the future of the country”.

“The government is continuing with the same consistency: a strong economy for a strong society. Because every responsible fiscal decision must return as a benefit to the people, and especially to the young people, who are the future of this country,” he said.