Advance MEC Scholarships
How much can I request?
When do I have to pay it back?
Under what conditions?
What do I need to provide?
Basic information
The scholarships and grants awarded by the Ministry of Education are not always paid before the start of the academic year. To help you cover the costs of starting your studies, at ABANCA we advance you up to 95% of the amount granted by the Ministry of Education, with a maximum limit of €5,000.
The advance is interest-free; you will only have to pay an opening fee of 3,75% when we grant you the advance. That’s why the interest rate is 0.00% TIN and 4,69% APR. The account associated with the advance will not have any maintenance or administration fees for as long as the advance lasts or until the customer turns 30 years old*.
Example for a €5,000 advance
For a loan of €5,000 to be repaid over 10 months, the maximum amount and term you can request as an advance if the scholarship granted by the Ministry is for an amount of €5,263.16 or higher, you will have a fixed nominal interest rate (TIN) of 0.00% for the entire life of the loan and an APR of 4,69%. In this way, the total amount to be paid would be 5.187,50€ in a single installment. The total cost of the financing would be 187,50€ (3,75%) as an opening fee, and you would not pay any interest.
The repayment system for this loan is a single payment at maturity.
Are you under 30? No fees!
If you're young, ABANCA is for you
A current account, the Tú NX card, and the ABANCA app are all you need to manage your money.
Plus, if you're between 16 and 29 years old, you won't pay any account opening or maintenance fees, and online transfers will be free. Also, until you turn 35, you'll get the Tú NX card for free, which lets you withdraw cash completely free of charge at all ABANCA ATMs, and outside Galicia up to 5 times a month at any ATM in the Euro 6000, Euronet, Banca March, Sabadell, ING, Bankinter, Caja de Arquitectos, Caja Ingenieros y Euro Automatic Cash network. What's more, it's also perfect for traveling because it doesn't charge a currency exchange fee and allows you to make 5 withdrawals per month at ATMs outside Spain.
The bank on your mobile
With the app from ABANCA, you can do everything you need from your bank in your daily life, such as checking your balance and transactions, sending money, or activating or deactivating your cards. You can also set up instant alerts so we notify you, for example, when your Ministry grant is deposited, or save your favorite transactions to have them available with a single click.
It will also let you use mobile-to-mobile payment tools like Bizum, which allows you to send money to anyone, or ABANCA Cash to withdraw cash from an ATM without needing your card, just with your mobile.
Shall we talk?
We help ensure that financing doesn't hold back your future.
Book an appointment now at your nearest ABANCA branch.
(*) Please note that there may be other financial expenses, depending on your situation. For example, if you need a guarantor or if we consider it advisable to go to a notary.
We only require that the account linked to the scholarship, that is, the account you provide to the Ministry of Education, Culture and Sport for the deposit of the financial aid, be an ABANCA account. If you do not yet have an ABANCA account and are considering applying for a Ministry scholarship, you can open an account 100% online right from this website.
To benefit from the advance payment of Ministry of Education scholarships, you must be at least 18 years old, regardless of the level of studies you are pursuing (university, high school, vocational training, etc.).
Do you have questions? We have answers
Questions
Puedes pedir el Adelanto de Ayudas del Ministerio de Educación y Cultura para cualquiera de las ayudas que dependen del ministerio, entre ellas las becas para los estudios de grado, diplomatura y licenciatura, las becas para los estudios de máster, las becas para los estudios de doctorado o las ayudas del programa Erasmus, entre otras.
También puedes optar al adelanto de ayudas para la enseñanza de bachillerato o formación profesional, pero recuerda que tienes que tener al menos 18 años para poder beneficiarte de este adelanto.