A €2 million scholarship scheme for would-be Masters students will be launched next week, Education Minister Evarist Bartolo said this morning.

In a departure from standard scholarship eligibility criteria, having an undergraduate degree will not be a prerequisite: if applicants find a foreign university willing to accept them as mature students, they will be able to apply for the new Master It scholarship fund.

Students with a general honours degree will also be eligible, Mr Bartolo noted. Masters courses must begin by the end of this year to qualify.

The €2 million pot - already €700,000 more than last year's budget allocation - may increase further.

Priority will be given to postgraduate courses dealing with high-end manufacturing, life sciences, educational services, financial services, transportation and advanced logistics, tourism, creative industries and ICT.

Educational services studies which focus on learning difficulties, literacy and vocational training will be given greater consideration.

Full-time students stand to receive up to €8,000 a year, with €2,500 of that serving as a maintenance grant. Those studying abroad will receive a further €2,500, while Gozitan students who choose to study in Malta will get €1,050.

Parents will be enticed to apply with the offer of a yearly €1,170 grant for their first child and €700 for each additional child under the age of 15. Distance learning applicants stand to receive up to €3,000 a year.

Funds will be lost unless they are used up by the end of this year, the minister acknowledged. "We urge everyone interested to apply," he said. "This is an opportunity not to be missed".

EU funding parliamentary secretary Ian Borg complimented the Education Ministry on its work so far, noting how ministry staff had been hard at work maximising funding opportunities.

A full list of Master It scholarship entrance criteria will be published next week on www.myscholarship.gov.mt, and an information meeting will be held at the University of Malta on May 8 at noon at the University's Gateway building, hall E.