Intesa Sanpaolo Bank - "Per Merito" Loan

The maximum amount that can be borrowed depends on the master program and citizenship.

Loan applications must be made by the student through both the two following applications in the order they are presented below and after paying the first tuition installment:

Online Bocconi application

1. The student completes the online application requesting at maximum the amount of the cost of the master program and taking into consideration any waiver or scholarships assigned;
2. The Master program office verifies the application and sends the student the "Loan Agreement" that:
   • includes a pre-approval of the loan
   • implies that the student transfer the whole amount of the loan to Bocconi
   • informs about the loan conditions
3. The student signs and uploads the loan agreement in the online Bocconi procedure
4. Non-Italian students are required to provide a guarantee signature from an individual or legal entity residing in Italy. Applications may be accepted without a guarantee signature if accompanied by a reference from parties to be verified by Bocconi University (please provide a company email address). In the latter case, the reference letter should be written on a letterhead of the Company/University/etc. where the referee works. The referee could be an ex-manager or professor and should be someone who knows the student professionally and who can make a general assessment of his/her qualities, characteristics, and capabilities.

Online Intesa Sanpaolo Bank application

1. The student completes the online application by requesting the amount of the loan that has been approved in the Finmaster procedure. In the event there is no correspondence between the financeable amount and the installment from Intesa Bank, the student can request the one that is just above (among those that are proposed)..       
2. Duration:in the program name section, it is necessary to select "Master Annuale" or "Business Admin. Annuale" if the length of the Master is less than or equal to 12 months, whereas you will need to select "Master Max 24 mesi" or Business Admin. Max 24 mesi" if the length of the Master is greater than 12 months.
3. Subsequently to the loan approval on the part of the University, the student will receive an email from Intesa Sanpaolo Bank and will have to go to the bank branch within 60 days to activate the loan. Upon activation, the bank will disburse the loan payment within a maximum of 5 working days.

In the online Intesa Sanpaolo procedure, students need to select:

• > the field of study/classe di appartenenza, which, for Master programs, MBA and SDA Specialized Master programs, corresponds with "LM-77"
• > area: "area unica"
• > facoltà: "Master" 
• > corso: choose the correct option based on the program you are attending.

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

The allocation is made in one single installment, whose total
approved amount, exclusive of the sums paid (only if the loan granted
coincides with the cost of the master), the student is required to wire transfer to the University in full in one payment within 15 days of
the disbursement.

Below is an example:

The line of credit
may be used freely by the student only after the payment of the balance of the
Master program has been completed.
Failure to do so, will result in the revocation of the loan. Therefore, the payment for the Master program will not be made in different installments, but in one installment for the total amount upon receiving it from the bank.

Student recipients of financial aid such as scholarships and full or
partial exemptions may access loans only to cover the amount effectively
sustained for the Master, net of the financial aid received. Should they be assigned financial aid after the loan disbursement, Bocconi University
will deposit the difference on the current account connected to the loan, in
order to reduce the amount of the loan granted.

Suspension period or “bridge year”
After 12 or 24 months (based on the Master’s duration) since opening the line of credit, the recipient is granted 12 additional months during which neither return of capital nor interests are required.

Reimbursement by installments
At the end of the course (suggested solution) and in any case by the deadline of 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:

• > Opening of the line of crdit: EURIRS 10 years based on the value on the second-last working day of June prior to the stipulation + 2.35%. Currently, the fixed annual nominal rate is determined as 4.35%.
• > Loan with reimbursement in installments up to 10 years: EURIRS 10 years based on the value on the second-last working day of June prior to the stipulation + 2.35%. Currently, the fixed annual nominal rate is determined as 4.35%.
• > Loan with reimbursement in installments over 10 years (up to 15 as per current agreement): EURIRS 15 years based on the value on the second-last working day of June prior to the stipulation + 2.66%. Currently, the fixed annual nominal rate is determined as 4.44%.

Loss of possession of requirements
 

In cases of students withdrawing from studies, the suspension period will take effect on the date in which the allocating Bank receives information regarding such circumstances.

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