European Social Fund supports zero-interest student loans for Southern Italy

Daily News 26 / 11 / 2020

Economy - published on 30 November 2020

Source: European Commission Spokesperson’s Service

The StudioSì Fund, launched by the Italian Ministry for University and Research and managed by the EIB, has awarded its first €2 million in zero-interest loans to students. The Fund benefits from a
€100 million allocation of the European Social Fund (ESF), Europe’s main
instrument for supporting jobs and promoting social inclusion in the EU. Thanks to this contribution, StudioSì will be able to cover students’ tuition and living costs and thus support access to
higher education and professional opportunities, notably for lower income families. Nicolas Schmit, Commissioner for Jobs and Social Rights, said: “We have a collective duty to
provide our young people with the tools they need to thrive. With €100 million available from the European Social Fund we can make higher education accessible for so many students in Southern
Italy. The zero-interest loans from the StudioSì Fund will allow these students to engage in their studies and careers with greater confidence and financial security. In today’s uncertain times,
this is particularly welcome.” 75% of this Fund will support students from Southern Italy to pursue their higher education, while 25% of the resources will support students from across the EU
who want to study in Southern Italian universities. With its regional focus, StudioSì can also help improve the contribution of universities to regional development in a sustainable way. The press
release is available here

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