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Intesa Sanpaolo Bank - "Per Merito" Loan

for World Bachelor in Business students

All students with European citizenship enrolled in the World Bachelor in Business program can apply for a "Per Merito" loan thanks to the agreement between Bocconi University and Intesa Sanpaolo bank.

The conditions below indicated in the agreement are valid through 31 December 2020.

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Admission criteria

In order to access the loan, Bachelor or Law program students must have completed the enrollment in a program (without any reserves).
After the first year, continuation of the line of credit is subject to passing all but one exam on the program structure.

Loan application

Loans can be obtained for a maximum amount of € 48,000 if requested during the 1st year of the program.

Students should submit loan applications through the Intesa Sanpaolo bank online procedure.

Please note that it is recommended that students applying for a loan take their personal needs and administrative deadlines (i.e. tuition and fees) into consideration at the time of application. Banks will not necessarily make funds available according to the University's administrative deadlines, rather installments will be made every six months following the first installment of the loan received.

The evaluation of the loan application is carried out by the University and the Bank and it can take approximately up to one month, therefore students are highly recommended to apply by mid-September in order to receive the installments of the loan in time.

Requests submitted by first year students cannot be evaluated before September.

Allocation

Loans are granted in the form of opening a line of credit in a current account.

The first disbursement will be released by the Bank after the approval and the opening of the line of credit.

The following disbursements will be on a six-monthly basis.

Year of course at the moment of application
Maximum length of the loan in years
Amount of each six-monthly installment
Number of installments
Maximum amount
1st year
4
6,000€



8
48,000 €
2nd year
3
6
36,000 €
3rd year
2
4
24,000 €
4th year
1
2
12,000 €


Continuation criteria

After the first year, continuation of the line of credit is subject to passing all but one exam on the program structure.

In cases in which students no longer possess the requirements, to which allocation of the second part of the loan is subject, the one-year bridge period will begin to take effect in advance.
If the student does not meet the continuation requirements — to which allocation of installments is subject — for three times, the bridge period will not be granted, and the line of credit will expire. Therefore, the student will need to reimburse the funds received.
In cases of students withdrawing from studies or transferring to another University, the suspension period will take effect on the date in which the allocating Bank receives information regarding such circumstances.

"Bridge period" and reimbursement

Six months after the last installment has been allocated, or, if before, after the study program has been completed, the recipient will be given one year during which neither capital nor interest will be required to be paid.

Before the end of the bridge period, students must go to the branch where the loan was opened and determine the amortization schedule for paying back the loan. The amounts used will accrue interest which will be debited to the current account and capitalized annually. The payback schedule may not exceed 96 months and will take place through monthly installments with a fixed amount, including capital and interest. Students will have the option of paying off the debt in advance, all or in part, without any additional cost.

Interest rates

The interest rate:

  1. applied to the opening of the line of credit, including the bridge period, is a fixed rate: Eurirs 9 years +2.95%
  2. applied to the loan at the end of the above mentioned bridge period, is a fixed rate: Eurirs 10 years +2.95%

The Eurirs parameters at 9 and 10 years are recalculated each year based on their value on the second-last working day of June.

Please note: For all conditions not listed on the above table, please refer to the leaflet provided by the bank.

Granting of loans shall always be subject to evaluations carried out but the credit institute.

For information:
Superflash branch, via Torino 21,  Milano.
Contact branch: via Meda 49, Milano


Last modified 12/03/2020 - 12:19:35