Master Scholarships budget increased by €700,000

Education Minister Evarist Bartolo and Parliamentary Secretary for EU Ian Borg this morning launched a new scheme of Master Scholarships, which budget has been increased to €2 million.

The funds, increased by €700,000, are financed through the European Social Fund 2007-2013.

"We hope that as many individuals as possible apply for the scholarships," Bartolo said, adding that the funds will be lost for good unless they are taken up.

Bartolo said the new scholarship scheme 'Master It' will empower the labour market to increase their level of skills and provide quality jobs for employers. "The budget allocation for Masters Scholarships has been increased to a minimum of €2 million, which is at least €700,000 more than the previous year," the minister said.

Nine key sectors were identified within our economy and opportunities to improve the skill-set of workers. "Students in these areas will not only provide the foundation for a better career for the people but also provide an improved skill-set for the business and the economy," Bartolo said.

He added that the government also needed to carry out an analysis of the demands of the economy and fill in the gaps that exist in the job market. The government has also opened up the scholarship scheme to individuals who do not have a doctoral degree or who are not in possession of an undergraduate degree, provided that a recognized University is accepting the applicant to register for a course.

"There are universities who accept maturities and approve their application based on the applicant's experience," Bartolo said. "We do not wish to hinder these people from pursuing their studies and achieve a Masters degree should the recognized University be satisfied with its entrance criteria."

The nine areas identified for these degrees are high-end manufacturing, life sciences, educational services, financial services, transportation and advanced logistics, higher quality tourism, creative industries, environment and ICT.

Those applying on a full-time basis can receive up to €8,000 per annum which includes a maintenance grant of €2,500 per annum. Those studying abroad can benefit from up to €2,500 per annum while Gozitan students studying at the University of Malta may receive up to €1,050 per annum.

Parents who apply for scholarship schemes will receive €1,070 every year for the first child and €700 per annum for any additional child under 15 years of age. For those studying at distance learning or part-time, government will give them €3,000 every year.

A selection board will be appointed to evaluate the applications and award the scholarships. An appeals board will be appointed as well. The conditions if the scheme will be published next week on www.myscholarship.gov.mt. Closing date is 14 June 2013. An information meeting will be held at the UoM on 8 May while another one is planned in Gozo on 31 May.