The Ministry of Higher Education has published the final list of students who are to receive loans under the Higher Education Loan Scheme 2023 which includes 50 more names.
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 of Higher Education Dr. Ibrahim Hassan said that the ministry evaluated the complaints regarding the preliminary list and found that 50 more students were eligible to receive student loans. Therefore, the final list has been published on the ministry’s website with names of 1,275 students and the list on the My Education Portal has been updated.
The loan opportunities focus on sectors in the Maldives that are most in need of skilled workers. Individuals who receive student loans will have the opportunity to study for a diploma. In addition, students studying under the government’s free degree programme were allowed to apply for a loan to further their studies in their chosen field and have the opportunity for the government to cover costs not stipulated in the free degree programme.
Additionally, the loan applications included opportunities for students to receive a top-up loan to cover periods where they are unable to complete the programme within the deadline. The applications also included the opportunity to study for a Doctor of Philosophy (Ph.D.) in order to train college and university lecturers. Applicants have the opportunity to study in any country but the amount of expenses the government is willing to cover is country-dependent. The loan scheme was provided after reducing the administration fee to 1%.