What we do
Public consultation on the EIB Group's Environmental and Social Sustainability Framework - informational webinars
Public consultation on the EIB Group's Environmental and Social Sustainability Framework
The EIF in 2020
Coronavirus: The EIB Group’s initiatives to address its economic consequences
Pan-European Guarantee Fund – EGF
Sustainable Development Umbrella Fund
SDUF Health Compartment
Equity products
AI Co-Investment Facility
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
VentureEU
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
InnovFin SME Guarantee Facility
COSME - Loan Guarantee Facility
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
Central and Eastern European Technology Transfer (CEETT)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
EstFund
FOSTER TPE-PME Occitanie
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
JEREMIE
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece

FINS: European Investment Fund backs €5.5 million loans for undergraduate and postgraduate students across the EU

  •  
    Date: 13 July 2021

The European Investment Fund and FINS will strengthen support for student loans following agreement of a new EFSI Skills & Education Pilot guarantee in Romania. This will allow school and college students within the EU, who want to pursue Bachelor’s and Master’s degrees in any EU Member State, to get a student loan without the need for income history, real estate guarantees or co-signers.

This guarantee agreement will allow FINS to provide €5.5 million of new loans, for 300-350 students who wish to study for Bachelor and Master degrees at a higher education institution within the European Union.

The new financing is thanks to the guarantee that has been provided by the European Union under the European Fund For Strategic Investments (EFSI) under the dedicated EFSI Skills & Education Pilot. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing.

The new FINS student loan programme backed by the EIF will ensure that:

  • Students will not need any employment or income history;
  • Students or their families will not need to provide any real estate guarantees;
  • Students will not need any co-signers;

The student loans provided by FINS are customized to reflect the specific financial needs of students: the use of the loan is personalized for each student and repayment starts after a grace period of up to 12 months after graduation.

This means that during their studies, students will not be under pressure to repay as with normal loans, and repayment will be possible once they start employment after graduation.

Alexandru Ghiță, the founder of FINS and of the EDUCATIVA Group says that: “Through FINS study loans we manage to offer the best solution for the real financial needs of young adults that are starting their careers with the help of a great study program, thus making it possible for them to access quality education. The most important consideration for a student is to be able to cover the costs of their studies without depending on their families or other third parties. With the first guarantee agreement signed with the European Investment Fund in 2019 we managed to eliminate the requirement of co-signers for students wanting to study a Master’s degree program. With the second line of guarantee that we have just signed, we are able to extend this facility to those wanting to study a Bachelor's degree abroad. Our goal is to reach in a few years a volume of over 1,000 students financed each year.”

Roger Havenith, Deputy Chief Executive of the EIF said: “Access to education is crucial for economic growth, competitiveness and social mobility. New student loans provided by leading Romanian partner FINS will unlock education opportunities and better career prospects for hundreds of students. Thanks to the EFSI Skills & Education Guarantee students will have streamlined access to loans and can repay once they get a job. Investing in education is investing for a better future.”

The European Investment Fund (EIF) and European Commission launched the EFSI Skills & Education Pilot guarantee facility to improve access to finance for individuals and organisations looking to invest in skills and education. The €50 million pilot scheme is supporting financing for students and learners, enterprises investing in the upskilling of their employees, and organizations supplying education and training.

Background information

About the EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

About FINS

FINS is part of the EDUCATIVA Group and it is a non-banking financial institution, launched in 2019. FINS offers study loans of up to €25,000 for Bachelor's and Master's programs in Europe, including the United Kingdom, Switzerland and Romania. The assessment process for obtaining the FINS study loan is based exclusively on the personal and academic profile of the high school or college student, which enables them to secure a study loan without any prerequisites of employment, banking or income history, other guarantees or co-signers (*for study programs in the EU). For more information about FINS and their study loans, you can access https://hellofins.com/.

Press contacts:

EIF: Richard Willis, r.willis@eib.org, tel.: +352 43 79 82155 / Mobile:  +352 621 55 57 58
Website: www.eib.org/press - Press Office: +352 4379 21000 – press@eib.org

FINS: Georgiana Malac, georgiana.malac@hellofins.com, +40732223671

 

We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.

 
 

Copyright ©

 European Investment Fund 2021 – The European Investment Fund is not responsible for the content of external internet sites.