Youth Specialisation Studies Scheme
- 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
- Legal basis
- 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
- Short description
- Level of operation
- Name of a part of the country
- Name of the region (for regional instruments)
- Name of the sector (for sectoral instruments)
- Relevance
- Legal basis
- Objective(s) and target(s)
- Year of implementation
- Year of latest amendment
- Operation/management
- Eligible group(s)
- Group(s) with preferential treatment
- Education and training eligible
- Source of financing and collection mechanism
- Financing formula and allocation mechanisms
- Eligible costs
- Volumes of funding
- Beneficiaries/take up
- Organisation responsible for monitoring/evaluation
- Most relevant webpage - in English
- Most relevant webpage - local language
- Recent changes
- Sources