President Ibrahim Mohamed Solih has revealed that a policy is being formulated to forgive student loans.
At a campaign event in Male' City, President Solih said that during his visit to households, he has heard concerns over the challenges faced by young people in repaying loans they accepted to complete their higher education studies. He said they are worried about having to go to court for non-payment. He, however, addressed their concerns and said that his administration is formulating a policy to forgive student loans.
The Maldivian Democratic Party (MDP) manifesto has included policies to facilitate more educational opportunities for the youth and address the challenges they face in furthering their education. The policies include restructuring the loan policy and forgiving them on specific conditions. The administration grants a huge budget for education each year and President Solih made the decision to extend loan offers to 1,225 students that have met the eligibility criteria for loans this year.