Is it permissible to work in a bank that funds students' studies and then employs them to recuperate the money?

It is not permissible to accept study sponsorship from usurious banks if it is conditioned upon working for them. As for Islamic banks, it is permissible to accept the sponsorship if it is conditioned upon working for them, provided it is not in the form of a loan. Otherwise, it would be a loan that draws benefit, which is impermissible.