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Does it make sense to do an ERASMUS exchange concerning the fact that I study Latin American studies?

Even though the ERASMUS program is focussed on going abroad within Europe it might be a useful opportunity depending on your master thesis topic. There are also more universities in Europe that offer programs that also focus on Latin America, it really depends on your personal study focus. Another option is an internship in Europe that can also be financially supported by the ERASMUS program.