From student loans and accounts, to bank cards - What are the financial instruments being used to support students?
From loans to student accounts, commercial banks in collaboration with universities have tried over the years to increase their support for students by offering financial products dedicated just for them.
One of the innovations last year was the linking of the student card to the bank card. After applying for the card at the faculty offices or at the Municipality of Tirana, through the cooperation agreement that the University has signed with a bank, students gained access to a range of services.
So, on a single card, the student can purchase products and receive services at reduced prices, but also make payments from his bank account that does not carry any commission.
Universities also open a bank account for students who benefit from excellence scholarships, financial aid or other state support, in order to deposit funds there. These accounts do not require a maintenance fee and opening them is free of charge for students.
On the other hand, student loans are another financial instrument that aims to support young people to cover their study and living expenses. Through this scheme, students have the opportunity to benefit from a certain financial amount, which is used to pay university fees and cover other costs related to their studies.
The student loan is a cooperation agreement with some of the largest universities in the country, through which a loan with 0% interest is made possible. The student pays for his studies in full in installments and the interest and loan commission are paid by the University. The application can be made from e-Albania within 30 days from the beginning of the academic year, starting from October 6, 2025 until November 5, 2025.
The benefit of student loans helps increase access to higher education and provides sustainable financial support for young people who wish to pursue university studies, regardless of their economic situation.
Banks have also invested in digital banking where students can receive dedicated services in their applications. In addition, financial institutions also offer opportunities for students to develop internships near their facilities.
Thus, young people cultivate a financial culture from the classroom, without yet becoming part of the job market.
Is all of this enough? Students are an important part of society and in a country like Albania, which is expected to soon become part of the European Union, the Albanian student should be offered the same support as a European student.
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