Bank of Valletta in collaboration with Saint Martin's Institute of Higher Education, is introducing a special scheme under its BOV Education Loan product intended to assist students in financing diploma and degree courses offered by the University of London in Malta through Saint Martin's Institute of Higher Education. 

The scheme was announced by Edward Grech Chief Officer Consumer Finance at Bank of Valletta and Mr Charles Theuma, Principal of St Martin's Institute of Higher Education.

Mr Grech explained that the Bank has always held education in high regard, and it is committed to support students in furthering their studies to reach their full potential. "Bank of Valletta has always been at the forefront in promoting education and continuous development. We believe that through the BOV Education Loan scheme, the Bank can support more students to make inroads in high quality qualifications."

Mr Theuma expressed his satisfaction at reaching this agreement. He stated that, "Finance and Computer Games degrees, like those offered by the University of London, are in great demand by employers in the financial services and the ICT industry. However they are difficult to attain for the average student without appropriate financing. Through this agreement with Bank of Valletta, more students will be able to attain these diplomas and degrees."

Loans under this special scheme may be taken up for a maximum of €15,000 and are repayable over a term of 5 years plus a moratorium period of up to 4 years, in line with the duration of the course. Eligible applicants enjoy discounted interest rates as well as no processing fees on the loan. Furthermore, once they have graduated and are in productive employment, students will be able to recoup up to 70% of their fees through tax credit. The special scheme is open to part-time students who are in full-time employment as well as full-time students who are still not in employment. 

Students who are interested in learning more about this product or would like to apply, may contact BOV Customer Service Centre on 2131 2020 or visit their preferred BOV branch  or contact Saint Martin's directly on 21235451 or [email protected].