Creation of the 'young people's future loan': interest-free loan of up to €5,000 to take up a job

Article 126 of the 2007 Social Security Financing Act allows the Social Cohesion Fund to guarantee subsidised-rate repayable advances granted by approved credit institutions to young people aged eighteen to twenty-five for their entry into work, and to parents of an apprentice who is a minor; the interest subsidy is paid by the National Family Allowance Fund. Decree No. 2007-327 of 8 March 2007 creates the 'prêt jeunes avenir': a loan of up to €5,000 over 24 to 60 months, interest-free for the borrower, for costs linked to taking up a new job (vehicle, equipment, moving, rental deposit). It is reserved for young people with an employment contract, a public-sector post or a job offer, under an income ceiling set by order; students are excluded. Eligibility is certified by the family allowance office.