7 Amendments of Luigi BERLINGUER related to 2011/0371(COD)
Amendment 790 #
Proposal for a regulation
Article 14 a (new) - title (new)
Article 14 a (new) - title (new)
Article 14a The European Student Loan Guarantee Facility
Amendment 791 #
Proposal for a regulation
Article 14 a (new) - paragraph 1 (new)
Article 14 a (new) - paragraph 1 (new)
1. A European Student Loan Guarantee Facility ('the Facility') shall be established with the aim of providing students with an additional tool enabling them to enhance their mobility in the context of studies at the level of a master's degree. This experimental tool shall be complementary to, and shall not replace, the grant systems supporting student mobility which are already in place at local, national and Union level.
Amendment 792 #
Proposal for a regulation
Article 14 a (new) - paragraph 1 a (new)
Article 14 a (new) - paragraph 1 a (new)
Amendment 793 #
Proposal for a regulation
Article 14 a (new) - paragraph 1 b (new)
Article 14 a (new) - paragraph 1 b (new)
1b. Before the Facility can be launched, a detailed study shall be undertaken by the Commission to identify the challenges which students may potentially face when taking out a loan for a course of study abroad. In addition, the Commission shall undertake a study and a risk analysis within the framework of the Facility to study the impact that taking out a loan may have on a student's choice of study subject, country of destination and career perspectives, on levels of debt amongst students, on the possibility of a brain drain between the countries where student mobility could take place and on the possible consequences which the Facility may have on the financing of higher education.
Amendment 794 #
Proposal for a regulation
Article 14 a (new) - paragraph 1 c (new)
Article 14 a (new) - paragraph 1 c (new)
1c. The Commission shall administer the funding of the Facility which shall be delivered through a trustee with a mandate to implement it pursuant to fiduciary agreements setting out the detailed rules and requirements governing the implementation of the financial instrument relating thereto and the respective obligations of the parties in line with the provisions laid down in this Regulation. The financial instrument shall comply with the provisions regarding financial instruments laid down in the Financial Regulation and in the delegated act replacing the Implementing Rules. In accordance with Article 18(2) of the Financial Regulation, revenues and repayments generated by the guarantees shall be assigned to the financial instrument. That financial instrument, which shall take into account students´ and market needs as well as take-up, the excessive debt risk, the Facility's social and economic impacts on beneficiaries and their social background, education and training, shall be subject to the monitoring and evaluation provided for in Article 15(2) of this Regulation. Member States and stakeholders shall be consulted at all stages throughout the establishment, implementation and evaluation of the financial instrument.
Amendment 795 #
Proposal for a regulation
Article 14 a (new) - paragraph 1 d (new)
Article 14 a (new) - paragraph 1 d (new)
1d. The provisions of the Financial Regulation governing the implementation of the Facility shall lay down special rules regarding full income contingent repayment condition, permitting the students concerned to defer repayment of the loan until such time as they reach a level of income that exceeds the average salary in their country of residence.
Amendment 796 #
Proposal for a regulation
Article 14 a (new) - paragraph 1 e (new)
Article 14 a (new) - paragraph 1 e (new)
1e. A maximum rate of interest for student loans granted pursuant to the Facility, not exceeding the average rate of inflation in the Member States during the previous calendar year, shall be set. If the financial intermediaries concerned exceed the rate of interest thus set, the Commission shall back up any interest payable in excess of that rate.