Education Minister Louis Galea yesterday presented a number of students with letters of contract so they may benefit from the Youth Specialisation Studies Scheme (YSSS) in order to help them further their studies overseas.
APS Bank and the Education, Youth and Employment Ministry have offered the opportunity for young people aged between 18 and 30, to receive a loan of e9317.50 (Lm4,000) to e23,293.73 (Lm10,000) at a subsidised rate of interest, so as to prolong their studies abroad or follow courses overseas, provided that the courses of study are not held in Malta. The first agreement was made in 1994 and since then, more than 250 students have benefited from over e4.10 million (Lm 1.76 million).
“This year another 16 students are going to benefit from the YSSS scheme, and preference was given to those students wishing to further their studies in the following areas: medical studies, veterinary studies, biotechnology, pharmaceutical engineering, electronics, telecommunications and film industry, automotive software industry (IT), agriculture and marine studies,” said Minister Galea.
The minister also thanked APS for their corporate social responsibility, and for their constant efforts towards supporting education.
“I would like to appeal to all those who have received higher education, especially those who have studied overseas to always keep this in mind: ‘What can we give back to Malta? – one of the very few countries which provides a free education, from beginning to end,” said Minister Galea. “My government has opened up education on every level, from the lowest to the highest. We want to encourage students to study overseas, but also to come back, if possible, and share their knowledge for the benefit of our country,” he added.
Between 2006 and 2007, the government awarded e931,748 (Lm400,000), by means of the Malta Government Scholarship Scheme, to 70 students following Masters and Doctorate Programmes. Through the Undergraduate scheme launched this academic year, the government is allocating e 395,993 (Lm 170,000) for around 150 students per academic year. It is expected that by 2010 this scheme would have helped more than 600 students.
“Our aim is to have 85 per cent of our youth continue to post-secondary level by 2015,” said Dr Galea.
“The government is committed to investing in order to ensure the highest quality of learning and vocational training. In the next few years we foresee the Malta College of Arts Science and Technology (MCAST) to be so well-established that it will begin to attract students from countries overseas, and also that the University will continue to grow both in the number of students and international renown. The funds that foreign students bring in will be re-invested in making sure our present structures continue to grow,” said Minister Galea.
The students received contractual agreements, which support their specialisation studies in various foreign universities found in Essex, Edinburgh and a number of other European cities.