Students in higher education in Northern and Central Portugal, as well as Alentejo, will now have access to low-interest student loans partially funded by the ESF.
The financial aid aims to help make higher education more widely accessible to students in Portugal, especially for those having difficulty getting student loans through other means.
The €11.7 million credit line has received €10 million from the ESF, with the remaining amount being financed by the Portuguese state. This action is being implemented by the Operational Programme Human Capital (PO CH) in Portugal.
Financial aid will be available to students both in private and public institutions, and recipients may get EUR 1 000 to 5 000 in loans per year. The loan period can range between 6 to 10 years, depending on the stage of a student's education.
The credit line is complementary to other needs-based financial aid, helping pay for costs related to education not covered by other financial aid. It could be particularly beneficial to students already receiving other types of aid, given its lower interest rates.