Prince’s Government launches “student loan assistance”

This “student loan assistance”, put in place by the Prince’s Government, is governed by Act No. 1.425 of 6 May 2016, published in Official Journal No. 8277 of 13 May 2016, establishing State financial support to help students to access loans.

In practical terms, the State will guarantee loans taken out by students from an approved banking institution. Students may repay the loan during their studies or once they have completed them, as they prefer. It is worth noting that only the loan capital will need to be repaid. Interest and ancillary costs will be entirely borne by the State.

This assistance can be sought at any time during the academic year by sending a written request by registered post with acknowledgement of receipt or delivering the request by hand to the General Secretariat of the Government and obtaining a receipt.

The Commission set up by Act No. 1.425 of 6 May 2016 may be asked to give a verdict on whether the planned course of higher education leads to a diploma or qualification in the country in which it is delivered, as the basis for deciding whether or not to grant a loan.

The list of documents which should be submitted is set out in Ministerial Decree No. 2016-572 of 16 September 2016.

The documents required to prepare your application can be found via:

• http://service-public-particuliers.gouv.mc/Education/Allocations-aides-et-bourses/Aides/Demander-une-aide-au-pret-etudiant
• The websites of Lycée Albert I, Lycée FANB, and Monaco’s Vocational and Catering School
• The Pronote student administration tool for Years 11 to 13