New Loan Program for Students

In a statement, the Ministry of Finance said that all those who wish to pursue their studies in 'undergraduate', in Mauritius or abroad, benefit from banking facilities. The program will cover all full-time students and part-time as well as those taking distance courses.

The bank credit facilities include, among others, a loan up to Rs 100,000 per year for up to three years to fund university fees, to a maximum of Rs 300,000 in total. No collateral is required, unless a parental guarantee and repayment of the loan (principal and interest) will begin a year later after the end of the course. The program is open to all citizens residing in Mauritius. Those interested can go to banks across the country to complete the loan application forms.