Money Management and Student Loans with ĠEMMA and BOV

Last Updated on Thursday, 3 September, 2020 at 9:50 am by Andre Camilleri

The number of individuals who want to further their studies to achieve their desired careers is on the increase.  However, aspirations may often be held back by financial challenges such as course funding, accommodation, transport, living expenses and other study-related costs. 

These issues were recently discussed during the ‘Money Management and Student Loans’ Webinar, jointly organised by ĠEMMA and Bank of Valletta. 

Explaining how students have become an important segment within the local community, David Spiteri Gingell, ĠEMMA Team Leader, said, “Student-targeted-initiatives such as scholarships are nowadays more easily available.  However, prudent planning and budgeting of funds are critical for one to reap the benefits of such investments. Financial planning should begin from one to two years before applying for a course, even if the student is aiming to take up a study loan”. 

Tonio Ellul from Bank of Valletta provided details about BOV products that are specifically designed to support students during their education journey such as the BOV Studies Plus+, BOV Club, BOV Education Loan and BOV Graduates Package. “Our star product is undoubtedly the BOV Studies Plus+,” stated Ellul.  “It provides easier access to finance for students, assisting them to further their studies and invest in a rewarding career. The BOV Studies Plus+ comes with a number of benefits such as a maximum loan amount of €100,000, an attractive interest rate, a moratorium period of up to 5 years and no upfront contribution or collateral requirement.”

The BOV Studies Plus+ is a financing solution aimed at students and professionals seeking to further their studies in Malta or abroad, undertaking full-time, part-time or distance learning courses leading to MQF levels 5, 6, 7 or 8 qualifications or other internationally recognised certificates.  This scheme is supported by the Operational Programme II, co-funded by the European Social Fund and managed by the Malta Development Bank. 

“Obtaining a loan through this scheme does not mean that one should stop saving money or from being cost-conscious.  It simply makes high-cost studies more reachable and affordable, reduces financial dependence on family and friends and can serve as a bridge until funds from scholarships, grants or any reimbursements become available,” concluded Tonio Ellul.

Information on the BOV Studies Plus+ can be found on

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