The FSMA Financial Instrument (FI) was established with the aim to support students or professionals who are seeking to further their studies in Malta or abroad. The loan is applicable to those who are seeking to pursue a study programme for accredited courses in MQF Level 5, 6, 7 and 8 as well as other internationally-recognised certificates. Eligible study will be entitled to receive support through the FI for the activities related to tuition fees, accommodation costs, subsistence expenses and other expenses. The Purpose of the FI is to support eligible students by enhancing their access to bank loans. the eligible students will benefit from zero interest payment during the moratorium period. The loan will be covered with a guarantee offered through the financial instrument to the financial institutions for a maximum term of 15 years covering the moratorium period of up to a maximum of 5 years and the loan repayment of up to a maximum of 10 years following the moratorium period. Eligible students will not be requested to put up upfront contribution. Eligible loans are covered at a guarantee rate of each eligible loan subject to a maximum liability in respect of loan losses expressed as a guarantee cap amount of a maximum amount established at Portfolio level. The ESF+ contribution amounts to €5M. Expected leverage is of x5 and the advantages of the Final Recipients will also include an interest rate reduction.