Financing your studies
Scholarships
Financing from PSB’s partner banks
If taking out a bank loan to finance your business school may seem daunting, you should know that :
- The practice is more widespread than it seems, affecting around 10% of the French student population.
- banks are quite keen to lend to business school students, as their exit salaries guarantee a very low risk of default.
- Most banks offer student loans at very attractive rates (usually around 1%).
The length of your repayment depends on your bank, the amount borrowed and your personal situation. The loan will be repaid in two phases:
- the deferred phase (from 2 to 5 years), during your studies, during which you can choose to repay nothing or pay only interest and insurance.
- the amortization phase, when you leave school, which corresponds to the actual repayment of the loan (plus interest if you haven’t done so earlier).
If you’re interested in taking out a student bank loan, bear in mind that, just like home loans, student loan rates are negotiable: make sure you compare offers from different banks before making your decision.
The best place to start is with your usual bank, which is familiar with your personal situation and your banking history. This will give you the first concrete elements to approach other banks later on.
You should also know that Paris School of Business has a number of privileged banking partners to whom we recommend you turn first if you want to take out a student bank loan.
LCL
Address: 96 Rue de Tolbiac, 75013 Paris
Contact: 01 44 06 76 10/11
Activities: bank account (€80 free), student loan, personal loan (0% fixed APR), AMP insurance (€1/year)
Current student rate: 0.8O% fixed APR (free application fees)
Société Générale
Address: 13, Place de Vénétie, Centre Commercial Masséna 13, 75013 Paris
Contact: 01 44 06 95 00
Activities: bank account (€80 + €20 free), Livret A, Livret jeune, student home insurance, progressive student loan
Current student rate: 0.89% Fixed APR (no handling fees)
Caisse d'Épargne Île-de-France
Address: 3 rue des Frères d’Astier de la Vigerie 75013 Paris
Contact: 01 71 39 13 62 and
https://www.caisse-epargne.fr/ile-de-france/particuliers/partenariats/offre-campus-2021
Activities: 1 euro/year bank account for 6 years; welcome gifts: €80 + €100 in free shopping vouchers
Current student rate: 0.69% fixed APR (no handling fees)
State scholarships
Crous state scholarship
The Crous (Centre régional des œuvres universitaires et scolaires) is a public administrative establishment dedicated to helping students in the social, educational and health fields. The Crous Bursary is a monthly financial aid package paid to scholarship students for the duration of the school year (10 months, from September to June).
Eligibility for the Crous grant depends on a number of social and financial criteria: the student’s family income, the number of dependent children in the family, and the distance between the family home and the place of study. To be eligible for the Crous grant, you must also be under 26 years of age and in initial training.
The grant rate is determined according to a national scale. There are 7 steps (not including step 0 bis). Boursier du Crous status also entitles you to pay your tuition fees in ten instalments at no extra cost.
You can use the online simulator provided by Crous to estimate your grant entitlement and step. To apply for a grant, you need to create your Dossier Social Étudiant (DSE) on the messervices.etudiant.gouv.fr website.
Please note that applications must be made between January 15 and May 15 of the year preceding the start of the academic year.
Merit-based aid
Reserved for students who have been awarded a scholarship based on social criteria, merit-based aid is a supplementary grant for students who have obtained their baccalauréat with a “very good” distinction. It amounts to €900 per year, paid in 9 monthly installments from October to June. To benefit from merit-based aid, you must apply via your Dossier Social Étudiant (Student Social File).
School grant
Paris School of Business offers students with modest incomes the opportunity to apply for a merit-based grant (not to be confused with the merit-based aid provided by the Crous).
This scholarship is awarded to students at the school on presentation of an application and on the basis of two criteria: social criteria (family income, etc.) and academic results for the previous year.
Applications are examined in June, and the results in July. The amount allocated by Paris School of Business is deducted from tuition fees for year N+1, the year following the application.
Jacques Lambert Foundation Grant
The Fondation Jacques Lambert (a member of the Fondation de France) awards scholarships to young business school students, selected on the basis of academic and social criteria.
Only students aged between 18 and 22 who have entered the Paris School of Business in 3rd year (Grande École program) are eligible for the Jacques Lambert Foundation Scholarship and can apply for it.
The aim of this financial aid is to help business school students facing serious difficulties in financing their studies. It is paid directly to the Paris School of Business for a single student selected by the Fondation de France itself. The application form must be obtained from the school’s General Secretariat in February of the current year.
Other scholarships
Students can also receive financial aid from :
- Their parents’ employer.
- FEDEEH scholarships.
- The commune, community of communes, department or region of residence.
Financing your international mobility
European Erasmus grants, regional grants, OFAJ grants, AMOPA grants.
The ERASMUS / SOCRATES grant
The allowance is paid for between 3 and 12 months and ranges from €150 to €300 per month, depending on the host country.
Please note that the Erasmus / Socrates scholarship is only available for international mobility as part of an exchange within a destination and a partner institution holding the Erasmus / Socrates charter.
Mobility aid
Mobility assistance is set at €400 per month. Over the course of your higher education studies, you may benefit from mobility assistance on several occasions, for a maximum of 9 months in total (for example, 1 X 9 months, 3 X 3 months…). If you meet the requirements for mobility assistance, please contact the Paris School of Business International Relations Department to apply.
Student bank loans
PGE: State Guaranteed Student Loan
The French government has set up a student loan guarantee fund in partnership with Société Générale, Crédit Mutuel, C.I.C, Banque Populaire and certain Caisses d’Épargne banks. They can offer students a loan of up to €15,000 if they are under 28. These loans are available to students from France, the European Union or the European Economic Area, without means testing, and without parental or third-party guarantee.
To take out a student bank loan, you’ll need to provide a guarantor in mainland France. If none of your relatives is in a position to play this role, the State may, under certain conditions, guarantee your bank loan. State-guaranteed student loans are not means-tested and are limited to a maximum amount of €15,000.
