Last Updated on Friday, 6 November, 2020 at 9:19 am by Andre Camilleri
Bank of Valletta continues to support students in furthering their studies
Bank of Valletta has, over the past months, channelled over €5 million worth of funding through its BOV Studies Plus+ to assist students and professionals invest in their education, making their career goals even more accessible.
The BOV Studies Plus+ is a financing solution for individuals 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.
“At Bank of Valletta, we were instrumental in aiding over 120 students embark on an exciting journey towards the career of their choice. We’ve opened doors for individuals of all ages, assisting them to take up courses in various sectors ranging from aviation to humanities, law, business and sciences,” stated Albert Frendo, Chief Credit Officer at Bank of Valletta. “Education in particular subjects costs money, especially where a student inevitably has to go abroad to pursue further studies. Unfortunately, such financial barriers may limit high potential Maltese people from venturing towards high-cost developmental opportunities.”
The BOV Studies Plus+ provides easier access to affordable finance and has a number of benefits such as an attractive interest rate, a moratorium period of up to 5 years and no upfront contribution or collateral requirement. It reduces financial dependence on family and friends and can serve as a bridge until funds from scholarships, grants or any reimbursements become available.
“The benefits go beyond individuals, but have a far reaching positive impact. Through this scheme, Bank of Valletta is enabling growth in the talent pool of the future, making possible the development of skills that are in short supply within a number of industries in Malta. Banks typically finance investment proposals that are considered feasible and that offer adequate returns. We consider this scheme as offering one of the best investment opportunities and the payback of this investment will certainly be a better skilled local workforce,” concluded Frendo.
The BOV Studies Plus+ is supported by the Operational Programme II, co-funded by the European Social Fund and managed by the Malta Development Bank (MDB). It benefits from the MDB guarantee scheme.