Patrick Hoarau, Head of Assignment, IT Inspecteur, in Paris, tells his missions in 6 questions.
Heading back to school with help from the bank
Fall is here and for students that means back to school! The new year brings new challenges and projects—but also the return of realities and responsibilities that can be difficult to manage with all the expenses along the way. So what can the bank do to make sure students enjoy the best conditions for learning?
Students: small budgets, big ambitions!
Between exciting—and sometimes costly—courses and little to no fixed income, money can be a source of stress and a distraction from what’s most important for students: learning and pursuing a career.
In France, according to a study by UNEF (the National Union of Students of France), the cost of living for students is set to rise by 2.09%. Bad news for French students, 46% of whom already have a job , often to the detriment of their academic performance. Whether it comes to housing, meals, activities or tuition, the cost of student life keeps rising. For students who cannot count on help from family, education can almost seem like a luxury!
How about the rest of the world? The situation varies considerably. According to a study by Eurydice, an information network for education, tuition in Europe can range from totally free (Germany, Denmark, Finland, Scotland, etc.) to over 5,000 euros per year in England, with an average of 100 to 1,000 euros in France and Belgium . This same variation also applies in terms of housing, transport, meals and other costs. Across the pond, student expenses are also very high: many American students take out student loans—which can reach massive totals—to finance the entirety of their education.
BNP Paribas helps students worldwide
As a responsible company, helping young people achieve an education in the best conditions is a central part of our mission. That’s why, in every country where we operate, we have developed assistance and support programs, beneficial loan offers, and special partnerships to give students peace of mind.
- In France, through October 28, students can take advantage of special offers for essential banking services: free debit card for three years; the Prélib’Campus student loan at an effective interested rate fixed at 0%; and the We Love Cinema option, free for one year.
- In the United States, Bank of the West BNP Paribas is rolling out more and more concrete initiatives: partnerships with universities, special offers, paid internships, and scholarships… essential offers in a country where education remains very expensive.
- In Belgium, BNP Paribas Fortis has developed a full line of special products to help students manage their budget. The bank also created "Focus Youth", a site dedicated to helping students navigate their everyday: tips for studying abroad, buying a first car, etc.
- In Luxembourg, BGL BNP Paribas offers a student loan combined with exclusive advantages. The bank also participates in Entreprises-Étudiants and their scholarship programs. And to introduce the bank to high school students, Startin’ Finance offers workshops, meetings, conferences, as well as guided tours of a trading floor or branch.
- In Italy, the BNP Paribas Group’s subsidiary BNL developed a program of meetings and support dedicated to 17 and 18 year old high school students. Since education is expensive, it’s essential for future students to have the resources they need to make an informed decision concerning their education and career paths.
Partnerships built with schools, universities and student events
BNP Paribas has forged close ties with the academic world, in order to:
- Accompany special training programs, given by schools and universities, Within the Group, BNP Paribas Corporate & Institutional Banking (CIB) notably teamed up with ESCP Europe to create a chair for “financial innovation and transformation”, while BNP Paribas Cardif formed a partnership, renewed for five years in 2016, with the Chair for “Insurance Modeling Management” at the Lyon 1 University.
- Accompany students from certain departments until they join the workforce. BNP Paribas signed partnerships with several universities (University of Paris-Dauphine, University of Paris-Est Créteil, etc.) and schools (INSEEC Business School, MBway, SupInfo, HEC, etc.) to help develop learning tools as well as offer banking services, loans and internships to students. In addition, the Group’s entities also build ties with schools, like BNP Paribas Real Estate with ESTP, IEP, INSIGNIS, IMSI, and IGS Group.
- Participate in student forums. BNP Paribas is a participant and partner of various events that connect students with companies offering internships, work-study programs or jobs upon graduation (Salon du Recrutement en Alternance, forums at the University of Paris-Dauphine, Carrefour des Stages et Métiers, etc.)
Arriving at BNP Paribas Real Estate in 2007 as an economist, and later promoted to Global Head...
Through partnerships with schools and universities, the BNP Paribas Group attracts its future...