Government launches “student loan assistance”

student-loan

Students with Monegasque nationality, up to age 30, can now, in addition to scholarships, apply for state aid to finance training for a higher education diploma or qualification in the country in which it is offered.

This student aid loan, set up by the Government of Monaco, is governed by Law No. 1.425 of May 6, 2016, which was published in the “Journal Officiel” No. 8277 May 13, 2016, concerning the creation of financial assistance by the state to facilitate student loan access.

Specifically, the state is guarantor of the loan contracted by the student with a government-regulated bank. The student can either repay the loan during the course of his studies or once they have been completed. Only the capital borrowed is to be repaid, interest and incidental amounts are entirely covered by the state.

This state assistance can be requested at any time during the academic year. The request may be examined by a Commission to determine whether the loan can be granted according to the nature of the higher education diploma or qualification.

More information about the documents required is specified in the Ministerial Order N° 2016-572 of September 16, 2016, and can be found at the following links:

http://service-public-particuliers.gouv.mc/Education/Allocations-aides-etbourses/
http://www.lycee-albert1er.mc
http://www.fanb.mc/lycee.html
http://www.lycee-technique.mc

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