A new financial instrument is now empowering students with easier access to financing for further and higher education, whether in Malta or abroad. StudentAssist has been developed by the Malta Development Bank (MDB) in collaboration with the Ministry for European Funds and the Implementation of the Electoral Programme, in partnership with APS Bank and Bank of Valletta.
Building on the strong results of the FSMA and FSMA+ initiatives, which have already helped 800 students with over €33 million in support, the new scheme expands access to education and makes further studies more attainable and financially sustainable.
Under StudentAssist, students may benefit from loans of up to €100,000 to cover eligible education-related costs, including tuition fees, accommodation costs, subsistence and living expenses, and travel expenses for studies abroad.
Loans are available for both full-time, part-time, and distance learning courses, from MQF level 5 to MQF level 8, as well as internationally recognised certificates and qualifications.
StudentAssist offers long-term loans of up to 15 years. These loans include a moratorium period, during which students are not required to make capital or interest repayments. This period covers the full duration of the course and typically extends for 12 months after studies are completed.
A key feature of the scheme is a grant-funded interest rate subsidy, which fully covers the interest accrued during the study period and for an additional year following completion. This ensures that students do not incur any financial burden while pursuing their studies.
Another important aspect of the scheme is a guarantee mechanism that covers up to 80% of each loan issued by participating commercial banks. This guarantee enables banks to offer student loans without the need for collateral, an upfront contribution, or parental guarantees, thereby making financing more accessible to young people and easing the financial burden on their families.
The Ministry for European Funds and the Implementation of the Electoral Manifesto has secured EU financing under the new programming period, together with additional national funds, to make this initiative possible. The Managing Authority has allocated €1.5 million from these resources which, thanks to the Malta Development Bank, will be leveraged to a total portfolio of €6.25 million that will be made available through APS Bank and Bank of Valletta.
The agreement was signed by APS Bank CEO Marcel Cassar, Bank of Valletta CEO Kenneth Farrugia, and MDB CEO Alison Micallef, in the presence of the Minister for Finance, Clyde Caruana, MDB Chairman Leo Brincat, and Chief Coordinator at Fondi.eu, Keith Robert Galea.
Commenting on the launch, Dr Georgina Scicluna, Head of the Managing Authority of the ESF+ Programme in Malta, held that “Through European Social funds, more students will continue to have the opportunity to pursue their studies and ambitions. With European funds, we are investing in people, in their future. ESF+ places social investment at the forefront, and by investing in this financial instrument, we are supporting the national commitment to build a more inclusive, competitive, and resilient workforce.
Malta Development Bank’s Chairman Leo Brincat said that “by widening opportunities for specialisation, we are empowering young people to drive Malta’s long-term competitiveness. This initiative reflects the Bank’s mandate to fuel sustainable growth and build national resilience, because at the MDB, talent knows no borders and excellence should be within everyone’s reach.” MDB’s CEO Alison Micallef emphasised that expanding access to finance unlocks opportunities for more individuals to pursue advanced studies, empowering them to shape Malta’s future. “This initiative reflects our dedication to building a more inclusive and resilient economy; one where everyone has the chance to thrive and contribute to national progress,” concluded Micallef.
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L-MDB Jħaddem Fondi Ewropej f’€6.25 Miljun għall-Istudenti
Strument finanzjarju ġdid se jservi ta’ appoġġ lil studenti li jridu jsegwu edukazzjoni għolja u speċjalizzata f’Malta jew barra minn xtutna. StudentAssist ġie żviluppat mill-Bank Malti għall-Iżvilupp (MDB) f’kollaborazzjoni mal-Ministeru għall-Fondi Ewropej u l-Implimentazzjoni tal-Programm Elettorali, fi sħubija mal-APS Bank u l-Bank of Valletta.
Billi jibni fuq ir-riżultati pożittivi tal-inizjattivi FSMA u FSMA+, li diġà għenu 800 student b’aktar minn €33 miljun f’appoġġ, l-istrument il-ġdid jespandi l-aċċess għall-edukazzjoni u jagħmel l-istudji ulterjuri aktar aċċessibbli u sostenibbli.
Permezz ta’ StudentAssist, studenti jistgħu jibbenefikaw minn self sa €100,000 biex ikopru spejjeż eliġibbli relatati mal-edukazzjoni, inkluż ħlasijiet tal-korsijiet infushom, spejjeż ta’ akkomodazzjoni, spejjeż relatati mal-għajxien, u spejjeż tal-ivvjaġġar għal studji barra mill-pajjiż.
Is-self huwa disponibbli kemm għal korsijiet full-time, part-time u għal tagħlim remot, minn livell 5 tal-MQF sa livell 8, kif ukoll ċertifikati u kwalifiċi rikonoxxuti internazzjonalment.
StudentAssist joffri self fit-tul sa 15-il sena. Dan is-self jinkludi perjodu ta’ moratorju li matulu l-istudenti mhumiex meħtieġa jagħmlu ħlasijiet tal-kapital jew tal-imgħax. Dan il-perjodu jkopri t-tul sħiħ tal-kors u tipikament jestendi għal 12-il xahar wara li jitlestew l-istudji.
Karatteristika ewlenija tal-iskema hija sussidju tar-rata tal-imgħax iffinanzjat minn grant, li jkopri bi sħiħ l-imgħax li jinġabar matul il-perjodu tal-istudju u għal sena addizzjonali wara t-tlestija tal-istudji. Dan biex l-istudenti ma jġorru ebda piż finanzjarju waqt li jkunu qed jistudjaw.
Fattur ewlieni ieħor huwa mekkaniżmu ta’ garanzija li jkopri sa 80% ta’ kull self maħruġ mill-banek kummerċjali li jipparteċipaw. Din il-garanzija tippermetti lill-banek joffru self lill-istudenti mingħajr il-ħtieġa ta’ kollateral, kontribut minn qabel, jew garanziji mill-membri tal-familja. B’hekk il-finanzjament isir aktar aċċessibbli lil studenti, speċjalment dawk żgħażagħ, u jonqos il-piż finanzjarju fuq il-familji tagħhom.
Biex din l-inizjattiva tkun possibbli, il-Ministeru għall-Fondi Ewropej u l-Implimentazzjoni tal-Programm Elettorali żgura finanzjament mill-UE taħt il-perjodu ta’ programmazzjoni l-ġdid, u dan qiegħed jintuża flimkien ma’ fondi nazzjonali addizzjonali. L-Awtorità Maniġerjali allokat €1.5 miljun minn dawn ir-riżorsi li, permezz tal-Malta Development Bank, se jiġu integrati għal portafoll totali ta’ €6.25 miljun li se jkun disponibbli permezz tal-APS Bank u Bank of Valletta.
Il-ftehim ġie ffirmat mill-Kap Eżekuttiv tal-APS Bank Marcel Cassar, il-Kap Eżekuttiv tal-Bank of Valletta Kenneth Farrugia, u l-Kap Eżekuttiv tal-MDB Alison Micallef, fil-preżenza tal-Ministru għall-Finanzi, Clyde Caruana, iċ-Chairman tal-MDB Leo Brincat, u l-Kap Koordinatur fi ħdan Fondi.eu, Keith Robert Galea.
F’kumment dwar it-tnedija, Dr Georgina Scicluna, Kap tal-Awtorità Maniġerjali tal-Programm ESF+ f’Malta, qalet li “Permezz tal-fondi Soċjali Ewropej, aktar studenti se jkomplu jkollhom l-opportunità li javvanzaw bl-istudji u l-ambizzjonijiet tagħhom. Permezz ta’ fondi Ewropej, qed ninvestu fin-nies u fil-futur tagħhom. L-ESF+ ipoġġi l-investiment soċjali fuq quddiem nett, u billi ninvestu f’dan l-istrument finanzjarju, qegħdin nappoġġjaw l-impenn nazzjonali biex nibnu forza tax-xogħol aktar inklussiva, kompetittiva u reżiljenti.”
Iċ-Chairman tal-Bank Malti għall-Iżvilupp Leo Brincat qal li “billi nwessgħu l-opportunitajiet għall-ispeċjalizzazzjoni, qed nagħtu s-setgħa liż-żgħażagħ biex ikunu protagonist fil-kompetittività ta’ Malta, kemm illum u kemm fil-ġejjieni. Din l-inizjattiva tirrifletti l-mandat tal-Bank li jinkoraġġixxi tkabbir sostenibbli u jibni reżiljenza nazzjonali, għaliex għall-MDB, it-talent ma jafx fruntieri u l-eċċellenza għandha tkun aċċessibbli għal kulħadd.” Il-Kap Eżekuttiv tal-MDB Alison Micallef enfasizzat li l-espansjoni tal-aċċess għall-finanzi tiftaħ opportunitajiet għal aktar individwi biex ikomplu studji avvanzati, u tagħtihom is-setgħa li jsawru l-futur ta’ Malta. “Din l-inizjattiva tirrifletti d-dedikazzjoni tal-Malta Development Bank biex jibni ekonomija aktar inklussiva u reżiljenti; waħda fejn kulħadd ikollu ċ-ċans li jirnexxi u jikkontribwixxi għall-progress nazzjonali,” ikkonkludiet Micallef.
Agħfas hawn għal aktar informazzjoni