The University of Luxembourg is the only university in Luxembourg, founded on 13 August 2003. Prior to that, there were several higher educational institutions such as the cour universitaire or the IST that offered one or two years of academic studies. Luxembourgish students had to go abroad in order to complete their studies at a university (usually to Belgium, France, Germany, Austria, and the United Kingdom). The new university makes it possible for these students to complete their studies in their own country, as well as attract foreign academic interest to Luxembourg. The University is currently divided into three Campuses, namely: By the finalisation of the House of Knowledge (Maison du Savoir), the University and all its Faculties plan on relocating to the restructured Campus in Esch-Belval, south of the capital. Like Luxembourg itself, the studies at the University of Luxembourg are characterised by their multilingualism. Courses are usually held in two languages: French/English, French/German, or English/German. The study programme is set up in the Bologna System and oriented towards the interest of young people and the needs of the employment market.