The scholastic year will soon be over, but for some this brings the question of what comes next. Dreams of furthering studies locally or abroad in private schools, colleges and universities or through distance learning may be hampered by the cost of tuition fees. Getting an education loan can help one choose the right path without giving up on the best available choice.

The BOV Education Loan was designed to assist parents or legal guardians who would like to enroll their children and students wishing to follow educational courses in registered education institutions, giving them the freedom to choose the best education that fits their future goals.

Features and benefits include: free life cover, borrowing amount from €1,000 to €20,000, a variable interest rate of 4.95 per cent, APRC of 5.294 per cent per annum, one-time processing fee of 0.30 per cent on loan amount (min €50), no down payment required, repayments up to a maximum period of seven years (subject to terms and conditions), and no early repayment fees apply if loan is paid off before the repayment period. Moreover, the BOV Education Loan may be granted without any security and the loan account can also be administered and monitored through BOV internet and mobile banking

For more details and information, an appointment can be set up with a BOV financing specialist by calling on 2131 2020, e-mail customercare@bov.com or from any BOV branch. A number of BOV branches are open on Thursday from 3.30 till 6pm for more convenience.

All loans are subject to credit approval by the bank and a credit agreement. Security may be requested including mortgage or other comparable security. Free life cover applies to a maximum of €25,000 per loan, until age 69 or until loan is closed, whichever is the earlier and is applicable if loan will be unsecured or partially secured. Further terms and conditions (including on free life cover) are available from www.bov.com. Issued by Bank of Valletta plc, 58, Triq San Żakkarija, Il-Belt Valletta VLT 1130. Bank of Valletta plc is an enrolled tied insurance intermediary of Mapfre MSV Life plc. Mapfre MSV Life is authorised by the MFSA to carry out long term business of insurance under the Insurance Business Act (Cap.403 of the Laws of Malta). Bank of Valletta plc is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta).