Interest-free student finance: a new solution from BRED and the HEC Foundation

2 October 2014

BRED Banque Populaire and the HEC Foundation are offering a new solution for low-income student finance: a loan with 0% interest, offered without parental guarantee. This measure is in line with the equal opportunity aims of the HEC Foundation.

Convention annuelle Fondation HEC - HEC Paris

Sharing a commitment to education, equal opportunity and social mobility, BRED and the HEC Foundation are forming a partnership for financing education for students from low-income backgrounds.

For several years, the HEC Foundation has run a system of full or partial scholarships covering the tuition fees of such students. Now BRED is complementing these efforts with a bank loan covering any additional tuition fees and on-campus accommodation. Significantly, this loan will be interest-free and available without parental guarantee, so that all HEC students may continue their studies regardless of their financial circumstances.

Bernard Ramanantsoa, Dean of HEC Paris, notes: “HEC aims to accommodate all talents, whatever their origin. We are delighted to see that institutions like BRED share these values ​​and are ready to provide innovative solutions for the benefit of students. New level has definitely been crossed through this partnership with the HEC Foundation.”

In recognition of this partnership, BRED will become a member of the HEC Foundation. A member of the BPCE group, BRED is a cooperative bank committed to the societies in which it is located. It supports several programs promoting equal opportunities, particularly those concerning the student population.

“We are very pleased to partner with the HEC Foundation,” says Oliver Klein, CEO of BRED. “There is a moral imperative to promote equal opportunity, and we consider it as one of the most pressing issues today in terms of both social cohesion and economic efficiency. It aligns directly with the values ​​of a cooperative bank, being economically and socially engaged.”

Guillaume Poitrinal, president of the HEC Foundation, welcomes this initiative: “In keeping with its commitment to support excellence and with the objective of making available to all HEC talents, the Foundation is proud of the establishment of this device in partnership with BRED to scholarship students.”

Back to News list