Requisites

You can 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

Benefits

Applicants may apply for a soft loan under the YSSS under the following conditions:

• A minimum amount of €11,600 in the 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, dpending 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.

Assessment

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 specialization to be undertaken by the applicant.

Documentation Required

• 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, accommodation etc.
• Budget planner from: www.apsbank.com.mt
• 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 by hand to the Youth Section within the Parliamentary Secretariat for Youth and Sport, Casa Leoni, St Joseph High Road, Santa Venera by Monday 11th June 2010 till 4:30pm.

Subsidised Interest Rate

Students applying during the period 3rd May 2010 and 11th June 2010 for finance under the YSS, and selected by the Credentials Committee 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 susidy 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 susidy of 1.1% (1) p.a. on the current interest rate of 4.1% (1) p.a. where the distance-learning students pays only 3% p.a.

Should applicants not be selected by the Credentials Committee 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 above 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 Committee will be forwarded to APS Bank Ltd. The Bank's dicision 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 Monday 11th June 2010 till 4:30pm.

Downloads
	Youth Specialisation Studies Scheme (YSSS) Brochure (Including Application Form)

Closing Date: Monday 11th June 2010 at 4:30pm

For more information please contact

Martin Chetcuti
E-Mail: martin.chetcuti@gov.mt

Josette Camilleri
E-Mail: josette.c.camilleri@gov.mt