EIB-managed StudioSì fund awards €2m to support students from Italy

The fund, benefitting from a €100 million allocation of the European Social Fund (ESF), supports students from Italy’s eight southern regions who study in Italy or abroad, with zero-interest loans to finance their tuition fees and living costs.


EIB | Updated: 26-11-2020 15:03 IST | Created: 26-11-2020 15:03 IST
EIB-managed StudioSì fund awards €2m to support students from Italy
“StudioSì is the first instrument in Europe to offer financing without interest or requests for collateral to students who can do important things for Italy and the EU.,” said EIB vice-president Dario Scannapieco. Image Credit: Wikipedia
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To improve educational and professional opportunities in Southern Italy, the “StudioSì” fund, founded by the Italian Ministry for University and Research (MUR) and managed by the European Investment Bank (EIB), has awarded its first €2 million in cost-free loans. The fund, benefitting from a €100 million allocation of the European Social Fund (ESF), supports students from Italy’s eight southern regions who study in Italy or abroad, with zero-interest loans to finance their tuition fees and living costs.

The loans can be requested through two Italian banks, Intesa San Paolo and ICCREA, who will each manage half of the total allocation. The financing is meant for students who follow master’s studies in one of the twelve specialisations outlined in the National Strategy for Intelligent Specialisation (SNSI), including agri-food, design, energy and sustainable mobility. Up to 25% of the resources can be used by students from other regions or EU countries, who want to study at a Southern-Italian university, in line with Italy’s National Operational Programme PON.

“StudioSì is the first instrument in Europe to offer financing without interest or requests for collateral to students who can do important things for Italy and the EU.,” said EIB vice-president Dario Scannapieco. “Thanks to this partnership between the Ministry and the EIB, which makes available European funds through Intesa SanPaolo and Iccrea, thousands of students will have the possibility to finance their studies worry-free, improving educational output. Furthermore, the rotating nature of this fund means that the resources can be re-invested to guarantee wider support to university participation in Italy.”

Nicolas Schmit, European 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.”

An OECD report from 2019 highlights that 19% of 25-64 year-olds in Italy have a tertiary education, compared with an OECD average of 37%, although tertiary attainment rates are increasing for younger generations. StudioSì is expected to increase educational and professional opportunities for students from Southern Italy, and improve enrolments in universities located in the south, as 90% of foreign students choose Northern-Italian Universities. Thus, the fund can improve the contribution of universities to regional development, with a view to strengthening economic, social and territorial cohesion, in a sustainable way.

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