Young people qualify for this loan if they are aged between 18 and 30 years old. Financing is provided as long as there is no equivalent academic course covering the same area available in Malta. Preference is given to those students who carry out or further their studies in the following areas; Aerospace, Health & Biotechnology, Digital Games Production, Environment, Agriculture & Marine Studies, Youth Work, Sport, Nature Conservation, The Arts and Specialised Restoration. The scheme covers part of the interest rate for courses or training that last between a minimum period of one year and a maximum period of five years. Young people are financed by applying for a soft loan at a subsidized rate of interest. Loan amounts requested can vary between a minimum of €10,000 but shall in no case exceed a maximum of €30,000. The interest rate is of 4.1% but students will only pay 1%. All applications are scrutinized by the Credentials Committee that is constituted by representatives of the Agency, Ministry/Secretariat in charge of Youth, APS Bank and the National Youth Council.
Need addressed :
Aġenzija Żgħażagħ in collaboration with APS Bank support young people who want to further their studies abroad or through distance learning through the Youth Specialisation Studies Scheme (YSSS).
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