"1. CEEPUS: What's in a name?
CEEPUS is an acronym for "Central European Exchange Program for
University Studies".
2. Who is a member?
Currently there are 12 member countries: Albania, Austria, Bulgaria, Croatia,
the Czech Republic, Hungary, Macedonia, Poland, Romania, Serbia
and Montenegro, the Slovak Republic and Slovenia.
3. What is the legal basis?
The legal basis for CEEPUS is an international Agreement signed by the
member states and is open for accession.
4. What is the organizational structure?
CEEPUS is based on lean management. The highest ranking decision making
CEEPUS body is the Joint Committee of Ministers that meets once a year and takes all strategic decisions. Coordination, evaluation, program development and advertizing are the main tasks of the Central CEEPUS Office (consisting of only two persons). Each country has a National CEEPUS Office in charge of
national implementation. In order to avoid setting up new administrative bodies, the National CEEPUS Offices are integrated into already existing structures, usually national agencies for EU programs.
5. What about finances?
With CEEPUS, there is no transfer of funds: There is an internal currency of "1 scholarship month" instead. Each country pays its INCOMING students and teachers and has to pledge at least 100 scholarship months per academic year. The CEEPUS agreement also specifies that these grants be comprehensive grants linked to the local cost of living. So far, experience has shown that this system works very well.
6. Which forms of cooperation are supported?
The main activity of CEEPUS are university networks operating joint
programs ideally leading to joint degrees. CEEPUS covers mobility grants for
students and teachers in this framework."

Source: CEEPUS Website "CEEPUS at a glance", as accessed in April 2014.