Minister of Higher Education Dr. Ibrahim Hassan has assured that providing student loans to all applicants will not constrain the state budget. Around USD14 million has been allocated in this year’s state budget to offer loans to students and President Ibrahim Mohamed Solih has announced that loans will be extended to 1,225 students that have met the eligibility criteria.
Speaking to PSM News, Minister Hassan said that the government is providing student loans for higher education and training on condition that they leave for studies within a specified timeframe. He said the government previously required students to begin their studies within 12 months of receiving the loan but now the period has been extended to 18 months.
Additionally, Minister Hassan assured that students will not encounter financial hardships and emphasised that no student will be left behind due to insufficient funding. He expressed the commitment to ensure that students are adequately supported and said that measures are in place to prevent situations where students have to discontinue their studies due to financial constraints. He added that the government made the decision to offer student loans to all eligible applicants after taking into careful consideration the management of cash flow.
The higher education ministry has published the preliminary list of students who are to receive loans under the Higher Education Loan Scheme 2023. President Solih has decided to grant loans to 479 applicants for pilot training this year, which is expected to have a significant impact on the Maldivian aviation industry. Loans will also be granted to 133 applicants to study for a Bachelor of Medicine, Bachelor of Surgery (MBBS) degree, and 51 applicants to study for a postgraduate medical degree.
Additionally, 24 students will be given the opportunity to continue pilot training through a top-up loan, while loans will also be granted to 10 applicants studying for a Diploma, 5 applicants studying for a Bachelor's Degree, one applicant studying for a Master's Degree, and 26 applicants studying for a Doctor of Philosophy (Ph.D.).