Financial aid for young people that you can request in 2021

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Young people are one of the groups hardest hit by the latest crises. Fortunately, there are different financial aid for young people that you can ask to continue with your academic training, undertake or access housing.

These are the most important financial aid for young people that are valid in 2021.

Housing aid for young people

Access to housing is one of the main problems for young people, which has led to the age of emancipation in Spain being almost 30 years, according to Eurostat. The situation has worsened with the pandemic, which has reduced emancipation among young people aged 16 to 29 to 15.8%, according to data from the Emancipation Observatory.

The 2018-2021 State Housing Plan, whose duration has been extended until December 2022, includes subsidies for renting and buying homes, in order to facilitate youth emancipation.

Rental aid

Rental aid for young people

In general, rental aid for young people up to 35 years of age cover up to 50% of a monthly rent of € 600 or up to 30% in the range of € 601 to € 900.

These grants can only be requested to rent the habitual and permanent home, as long as the income does not exceed 3 times the IPREM (Public Indicator of Multiple Effects Income), which this year is € 564.90, which brings the amount to 1,694 € monthly. In the case of large families and people with disabilities, this limit is 4 times the IPREM, while it is multiplied by 5 for special large families and people with certain degrees of disability.

The autonomous communities are in charge of managing the aid through the housing councils. Most of the autonomous communities grant 50% of a rent of € 500, while in others, such as the Valencian Community, it varies in each province.

Aid for the purchase of a young home

Aid for the purchase of housing for young people

The home purchase assistance program for young people under 35 years of age establishes that can only be requested in municipalities with less than 5000 inhabitants. Likewise, it must be the usual and permanent home and meet the same financial requirements in relation to the IPREM as for rental aid.

Help is from € 10,800 with a limit of 20% of the acquisition price of the house, which cannot exceed € 100,000. In addition, it is required that it be the habitual residence for a minimum time of 5 years.

The autonomous communities manage the aid for the purchase of housing established in the state plan, establishing their own conditions.

Aid for young entrepreneurs

Young people who decide to start their own business also have a help: the flat rate for freelancers. It is a measure proposed to promote entrepreneurship that consists of a reduction of the self-employed quota for three years.

If you are under 35 years of age, during the first year the freelance fee is € 60 per month, compared to € 286.1 for the fee to contribute for the minimum base. From month 12 to 18, 50% of the fee is paid, € 141.65; and from month 19 to 24, 30%, which is € 198.31.

The last period extends to 36 months in the case of female entrepreneurs or if you are under 30 years old.

Aid for unemployed youth

There are no specific aid for unemployed young people, but they can access the same benefits as the rest of the workers if they become unemployed. Namely, the contributory benefit or unemployment benefits when the benefit runs out.

Youth unemployment

Unemployment benefits and subsidies

The requirements that you must meet to access the contributory benefit is to be registered as a job seeker and to have contributed a minimum of 360 days.

In the case of not having the minimum quotes, it is possible to request a help for insufficient contribution. The requirement is to have contributed a minimum of six months if you do not have family dependents or three if you have children. The amount of this aid is 80% of the IPREM. The duration depends on the time quoted and the family responsibilities.

Minimum vital income for young people

Minimum Living Income

The over 23 years old Those who are in a situation of economic vulnerability can apply for the Minimum Living Income. This is a non-contributory Social Security benefit of at least € 461.5 per month.

Unemployment courses

Courses for the unemployed

exist courses with certificate of professionalism that aim to improve the employability of workers

The Youth Guarantee System It is a European plan for young people aged 16 to 29 to receive a job offer, continuing education or internship training after completing formal studies or becoming unemployed.

Aid for young students

Young students have different scholarship programs in higher education. There are the MEC Scholarships granted by the Ministry of Education for university studies and the FP Dual Scholarships to pursue Vocational Training, as well as scholarships granted by the universities themselves.

MEC youth scholarships

MEC scholarships

The MEC scholarships are for undergraduate or graduate studies at the university. To access these scholarships you must have the approved course and enroll in a minimum of 60 course credits. A maximum threshold of income and assets of the family unit is required, with the aim that students with fewer resources can obtain the full scholarship, which includes tuition, fixed amount of income and residence and a variable amount.

Unemployed courses

Scholarships for FP Dual

The Dual Vocational Training combines student training with internships in companies through an agreement with the educational center. The advantage of this system is that the student is trained in the company and receives a salary, contributing to Social Security.

With FP Dual you can carry out a work activity in the company through a training or apprenticeship work contract, or receive a scholarship as compensation for transportation, living expenses and study aid, which is usually between 300 and 500 € according to the autonomous community.

In Orange | Tell me where you live and I will tell you if you can deduct your school expenses
Image | Helena Lopes at Pexels

Home rental, Scholarships and grants, Home purchase

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