Bank of Valletta has enhanced its education loan scheme, which provides assistance in financing the costs of both full-time and part-time students taking up educational courses at private schools and at any registered educational institution.

The loan can be used to finance school tuition fees and/or further education, the bank said.

Besides extending the scope of the loan scheme to apply for private schools, the bank has revised the loan amount, increasing it to Lm7,000 (€16,305.61).

The scheme is open to all full-time and part-time students who are not eligible to apply under the BOV Club scheme or the BOV graduates package. Unless otherwise agreed, the loan has to be settled in full within five years and must not go beyond retirement age.

The loan is offered to students on an unsecured basis and is repaid by monthly instalments, inclusive of interest.

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