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APS Bank and the Parliamentary Secretariat for Youth and Sport are offering through Youth Specialisation Studies Scheme (YSSS) the opportunity to youths aged between 18 and 30 years to apply for a soft loan at a subsidised rate of interest to further their studies abroad or to follow distance learning courses, provided that such courses of study are not available in Malta.
APS Bank is offering advantageous terms for youth and students under this scheme and applicants who do not qualify under the scheme may still apply for a loan through the Bank.
Subsidy on interest rates is offered for applications selected till 11th June, 2010. Applicants who do not qualify under the scheme or not selected by the Parliamentary Secretariat for Youth and Sport - Youth Section or wishing to apply after 11th June, 2010 are requested to apply directly to the Bank
You may qualify for a soft loan under the Youth Specialisation Studies Scheme (YSSS) if you are a Maltese national aged between 18 and 30 years and:
- interested in furthering your studies abroad, including post-graduate, provided that the course of study is not available in Malta; or
- want to take up a distance learning course provided that the course is not available in Malta.
Preference will be given to those students wishing to carry out or further their studies in the following areas:
- Medical Studies
- Hospitality
- ICT & Educational Services
- Financial Services
- Environment
- Agriculture & Marine Studies
- Youth
- Sport
An assessment will be carried out to evaluate:
- the proven ability of the individual concerned;
- the individual's future potential, based on the applicant's past performance, to achieve the projected goal;
- the overall benefit to the country of the particular area of specialisation to be undertaken by the applicant.
Applicants may apply for a soft loan under the YSSS under the following conditions:
- A minimum amount of €11,600 in case of students pursuing full-time courses and €9,300 in case of distance learning courses. In both cases, the maximum amount will not exceed €23,300;
- A loan repayment term of ten years, including a maximum holiday on capital repayments of five years, depending on the duration of the academic course to be followed;
- An interest rate margin of 1.75% over the Bank's Base Rate;
- Minimal security will be requested;
- No processing fees;
- No early repayment fees.
Documentation Required |
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- Detailed curriculum vitae;
- Copies of qualifications;
- Course curriculum;
- Explain how your future career plans will benefit from this course;
- Letter of acceptance from the relevant institute or university
- Letter of reference on applicant's character and integrity;
- Photocopy of applicant's and spouse's (if applicable) Identity Card;
- Detailed breakdown of expenses: Tuition fees, subsistence, accomodation etc.
- Budget planner (see above)
- Applicants who are or will be unemployed during the currency of their academic course, will be required to provide the Bank with the personal guarantee (on the Bank's standard form) of their parents, if single, or their spouse, if married.
The application form must be submitted together with all the documents requested.
Subsidised Interest Rate |
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Students applying during the period 3rd May 2010 and 11th June 2010 for finance under the YSSS, and selected by the Credentials Commitee appointed by the Parliamentary Secretariat for Youth and Sport, shall benefit from the following interest subsidy paid by the Parliamentary Secretariat concerned, during the moratorium period of the soft loan:
- a subsidy of 3.1%1 p.a. on the current interest rate of 4.1%2 p.a. where the full-time student pays only 1% during the moratorium period;
- a subsidy of 1.1%1 p.a. on the current interest rate of 4.1%2 p.a. where the distance-learning students pay 3% p.a.
Should applicants not be selected by the Credentials Commitee for a subsidised loan or wish to apply after the closing date may nonetheless apply for the soft loan under the same terms outlined in the brochure without the interest subsidy given by the Parliamentary Secretariat for Youth and Sport. These applicants are requested to apply directly to APS Bank.
All applications approved by the Credentials Commitee will be forwarded to APS Bank Ltd. The Bank's decision in approving the loan or otherwise is final.
N.B. Applications are to be presented by hand to The Youth Section within the Parliamentary Secretariat for Youth and Sport, Casa Leoni, St Joseph High Road, Santa Venera by Friday 11th June 2010 till 4.30pm.
1 The interest rate subsidy varies according to the changes in the interest rate, pegged to the Bank's Base Rate
2 Pegged to the Bank's Base Rate | 
