YSSS (Youth Specialisation Studies Scheme)

APS BANK YSSS Student Loan

The Youth Specialisation Studies Scheme is a joint venture between APS Bank plc and Agenzija Zghazagh that supports young people in taking up their studies abroad or through distance learning. This financial arrangement grants a number of students with a subsidised study loan with favourable terms.

Am I eligible for the YSSS Loan?

If you are a student aged between 18 and 30 years old and would like to follow a first or post graduate degree or a distance learning course, provided that the course that is not available in Malta, then you may apply for this loan. The duration of the course may be between one and five academic years. Preference will be given to those students who wish to take up their studies in the following areas:

Aerospace Youth Work
Health & Biotechnology Sport
Emerging Technologies
Nature Conservation
Veterinary Studies The Arts
Agriculture & Marine Studies Specialised Restoration


What if I can't manage to make my repayments on time due to my limited savings?

Through the YSSS scheme, students can benefit from a repayment holiday of up to 5 years, depending on the course duration. In those cases where the term is less than 54 months, a further six month moratorium period will be allowed on capital repayments. This repayment holiday, also known as a moratorium, means that during a specified period of time, you will not be making repayments due to financial hardship. Nonetheless, interest shall continue to run and be due to the Bank for the whole duration of the moratorium period.

How much money can I borrow?

The YSSS Study Loan provides 100% financing on amounts between €10,000 and €30,000, with a loan repayment term that does not exceed 10 years (including a maximum holiday on capital repayments of 5 years, depending on the course duration). Students whose total cost of the course (including living and accommodation expenses) exceeds €30,000, will have to pay the difference in funds before accessing their YSSS loan.

Are there any additional benefits?

If you are a full-time employee applying for a distance-learning course, you may apply for an unsecured Virtual EPO account for an amount not exceeding the declared monthly income (a maximum of €5,000). A maximum amount of €1,000 may be granted as part of the loan for the purchase of a computer/laptop.

How much interest will I need to pay? Are there any other fees that I will incur as part of this process?

  • For part-time students, interest is currently at 4% p.a. This is calculated at 1.75% over the Bank's Base Rate (currently at 2.25% p.a.). An interest subsidy of 1% is payable by Agenzija Zghazagh, whilst the remaining 3% is paid by the candidate during the moratorium period.
  • For full-time students, interest is currently at 4% p.a. This is calculated at 1.75% over the Bank's Base Rate (currently at 2.25% p.a.). An interest subsidy of 3% is payable by Agenzija Zghazagh, whilst the remaining 1% is paid by the candidate during the moratorium period.

A one-time €50 processing fee will be charged per application.

What documents do I need to present together with my application?

When applying for the YSSS Study loan, you will need to present the following:

  • Motivation letter indicating how this academic course will benefit your future career plans and its strategic relevance at a national level
  • Application Form (downloadable from www.agenzijazghazagh.gov.mt/News/967/)
  • Europass CV
  • Scanned copies of qualifications
  • Course curriculum
  • Letter of acceptance from the relevant institute or university
  • Letter of reference on applicant's character and integrity
  • Copy of applicant's ID Card (and spouse's if applicable)
  • Budget planner (Click here to Download Budget Planner)

When and where do I submit my application?

Applications for the subsidy are to be submitted electronically through www.agenzijazghazagh.gov.mt by not later than Friday, 14th June 2019 at noon.

 A Representative Example of a subsidised YSSS Loan

On a fully utilised subsidised YSSS Loan of €20,000 granted to a full time student, at a variable nominal interest rate of 4% p.a. for a term of 120 months (comprising a moratorium period of 60 months), then the *APRC will be 4.18% p.a.

During the moratorium period, the student will be paying only the interest in equal monthly instalments of €16.67 each for the first 60 months. For the remaining 60 months, the loan will be repayable in equal monthly instalments of €368.83 each. The total sum payable throughout the whole term of the loan will be €23,179.80 (being capital of €20,000, interest of €3,129.80 and a processing fee of €50.00). The loan is to be secured by a first ranking pledge over a life assurance policy covering the whole loan amount and a personal guarantee of the parents (if single) or spouse (if married). All YSSS loans are subject to a final approval from your APS servicing branch.

*Calculations are based on the below assumptions:

  • That the consumer lending bank base rate (currently at 2.25%) remains unchanged during the period of the loan.
  •   During the moratorium period of a subsidised loan, the student will be paying €200 yearly as interest (i.e. 1% of the loan amount) and Agenzija Zghazagh will be paying the remaining 3%. At the end of the moratorium period, the student would have paid €1,000 in interest, while Agenzija Zghazagh would have forked out €3,000 in interest. After the moratorium period, i.e. over the remaining 60 months, total interest payable by the student is that of €2,129.80.
  • That the facility is subsidised for the full amount, which is subject to the discretion of Agenzija Zghazagh. Agenzija Zghazagh has the right to subsidise a portion of the facility depending on the amount of applications received.
  • The student opts to utilise the maximum moratorium period that of 60 months.
  • The credit agreement is to remain valid for the period agreed between the Bank and the consumer, and that both parties will fulfil their obligations under the terms and by the dates specified in the credit agreement. The consumer has the right to pay the loan in full or in part before the agreed termination. In such circumstances, no early repayment penalty fee is incurred.
  • *APRC calculation is based on the total cost of the credit to the consumer, expressed as an annual percentage of the total amount of credit.

Terms and conditions apply and are available upon request.

Questions and Answers

Interested? Download the Youth Specialisation Studies Scheme (YSSS) information brochure containing key features and all the necessary details. Do not hesitate to contact us on +356 21226644 or click below if you would like to leave a message.

Contact us

Copyright © 2017 APS Bank plc
APS Bank plc is licensed to undertake the Business of Banking and to conduct Investment Services business by the Malta Financial Services Authority and is enrolled in Tied Insurance Intermediaries List under the Insurance Intermediaries Act 2006