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Serbia’s longtime leader, President Aleksandar Vucic, conceded defeat Sunday to the student-led opposition in an election that sent shock waves throughout Europe and the Western Balkans .

"We do not have the final results yet, and many people will be surprised. Based on a stratified sample, it is clear that we have lost these elections . The student-led protest list has won," Vucic said in an address to the nation Sunday night.

The Student List victory brings an end to 14 years of Vucic and his Serbian Progressive Party rule, in what many are saying is the biggest political shake-up in the Balkans since the toppling of Yugoslav dictator Slobodan Milosevic in 2000.

Observers say the Student List party's policies remain vague, which has some worried about Serbia's future.

Ana Brnabic, vice president of the main Board of the Serbian Progressive Party, told Fox News Digital that, "The election victory of the Student List recalls similar electoral triumphs in…