Santander Consumer Finance will support education through agreements with institutions to offer their students favourable terms on financing.

This programme bolsters the group's commitment to reskilling and upskilling in the changing job market.

Madrid, 9 July 2021.
Santander Consumer Finance, the Universia Foundation and the European Investment Fund (EIF) signed an agreement to promote investment in education in Spain and Benelux, especially in skills training for the new job market. Under the agreement, the EIF will pledge nearly €50 million to fund skills and career development to enhance employability.

Santander Consumer Finance, a steadfast supporter of education, will sign agreements with universities and business schools in Spain and the Benelux region to offer their students favourable terms on financing. It is joining Grupo Santander in its commitment to reskilling and upskilling for the ever-changing job market.

Banco Santander has been firmly committed to education for 25 years. This year, it expanded its scholarship programmes with initiatives for students and professionals of all ages. Its new strategy aims to foster equal opportunity, employment and prosperity for everyone in an ever-changing world where digitalization and globalization are on the rise and lifelong learning will be essential for better job prospects.

Recent scholarships include Santander Tech | Digital Reskilling – Ironhack; Santander Tech | Emerging Technologies Programme - MIT Professional Education; and Santander Skills | Professional Development – ESADE.

The EIF is channelling funds through its Skills & Education Guarantee Pilot (S&E Pilot). This programme, which aims to stimulate investments in education and training, opens up access to financing that helps bridge the skills and education gap in Europe caused by the social and technological transformation of the economy. It is possible due to support from the European Fund for Strategic Investments (EFSI), which aims to fund and implement productive investments and expand access to financing in the European Union.

Banco Santander and its commitment to education

Banco Santander, the leader of responsible banking, is firmly committed to progress and inclusive sustainable growth. It has a long-standing commitment to higher education through Santander Universities, which has been operating for 25 years, setting it apart from the world's other financial institutions. The bank has allocated over €2 billion in total and awarded over 630,000 scholarships and grants since its inception.

According to Eurostat, households put 1% of their income towards education in Europe. Spain’s National Statistics Institute (INE) reports that Spanish families spend €19.8 billion euros per year on education.