Youth Specialisation Studies Scheme

PDF Version
Name of the instrument - Local language
Skema għaż-żgħażagħ fuq studju specjalizzat
Name of the instrument - English translation
Youth Specialisation Studies Scheme
Scheme ID
160
Country
Malta
Reporting year
2020
Type of instrument
Loan
Sub-type of instrument
Loan for HE expanded to adults
Type of entry
Single instrument
Short description

Individuals between 18 and 30 years who wish to study for a first or post-graduate degree or a distance learning course not available in Malta can apply for a loan between EUR 10 000 and EUR 30 000. Eligible students are granted a soft loan facility at favorable terms. Preference is given for courses in Aerospace, Health and Biotechnology, Digital Games Production, Environment, Agriculture and Marine Studies, Youth Work, Sport, Nature Conservation, The Arts, and Specialised Restoration. The maximum loan amount is EUR 30 000 in a total, while the minimum amount of EUR 10 000 for students. Directly after graduation students pay a rate of interest of 1% (lower than the standard rate of 4%) bank's Base Rate plus 1.75% per year, currently adding up to 4% per year. There is no limitation to re-use the grant.

Level of operation
National
Name of a part of the country
Not applicable
Name of the region (for regional instruments)
Not applicable
Name of the sector (for sectoral instruments)
Not applicable
Relevance
Further instrument
Not applicable
Objective(s) and target(s)
To support young people up to 30 years in taking up their studies abroad or through distance learning.
Year of implementation
1994
Year of latest amendment
2019
Operation/management
The APS Bank is responsible for the implementation of the scheme.
Eligible group(s)
Maltese nationals aged between 18 and 30 years
Group(s) with preferential treatment
Preference for courses in: Aerospace, Health and Biotechnology, Digital Games Production, Environment, Agriculture and Marine Studies, Youth Work, Sport, Nature Conservation, The Arts ans Specialised Restoration
Education and training eligible
First or post graduate degree or a distance learning course, that is not available in Malta. The duration of the course may be between one to five academic years. Preference is given to courses in the following areas: Aerospace, Health & Biotechnology, Digital Games Production, Environment, Agriculture & Marine Studies, Youth Work, Sport, Nature Conservation, The Arts and Specialised Restoration.
Source of financing and collection mechanism
The YSSS Study Loan provides 100% financing on amounts between EUR 10 000 and EUR 30 000, with a loan repayment term that does not exceed 10 years (including a maximum holiday on capital repayments of 5 years, depending on the course duration). Students whose total cost of the course (including living and accommodation expenses) exceeds EUR 30 000, will have to pay the difference in funds before accessing their YSSS loan.
Financing formula and allocation mechanisms
maximum loan amount: EUR 30 000 in total, minimum amount: EUR 10 000 for students; repayment: directly after graduation, students pay a rate of interest of 1% (lower than the standard rate of 4%) Bank's Base Rate plus 1.75% p.a., currently 4% p.a.
Eligible costs
lump-sum
Volumes of funding
Not available
Beneficiaries/take up
Not available
Organisation responsible for monitoring/evaluation
APS Bank
Most relevant webpage - in English
https://www.apsbank.com.mt/ysss
Most relevant webpage - local language
https://www.apsbank.com.mt/ysss
Recent changes

Since 2019 the APS Bank is solely responsible for the implementation of the scheme, the agency involved before is not longer on board.

Recent changes in response to COVID-19

No changes

Sources
http://www.apsbank.com.mt/en/ysss
On this page: