In view of the increasing number of school leavers who wish to go for tertiary studies but who do not have the means to make their dream come true, the Mauritius Commercial Bank has come up with a new plan. MCB Campus will allow young students to take a loan for the length of their studies with various repayment schemes.

The new MCB general manager, Joseph Alain Sauzier, said that he was certain this loan would be attractive and competitive for young students. He said there were many new financial solutions for either academic or professional studies, whether full time or part time. ?The aim is to be able to meet the specific needs of every student.?

The repayment modes will be flexible and made to measure. For instance, the period of repayment will be calculated on the potential salary of the student as soon as he starts working. Loans will go from Rs 100,000 to Rs 3 million, which should cover the total study expenses ? fees, books and other necessary materials, air tickets or housing expenses abroad, for instance. But the loan can also help to pay for studies in Mauritius.

The loan can be granted to any Mauritian ? MCB customer or not. As for repayment, two possibilities are available. The first one, the ?classical formula?, is spread over seven years and starts as soon as the first term of the loan is granted. The second one consists in paying only the interest over a five-year period after which the real repayment starts.

This new loan opens new doors for prospective students, who know their future depends largely on tertiary studies. The MCB general manager is convinced that MCB Campus will have great success!