Ministry of Higher Education has revealed more than USD 1.5 million has been spent to provide free undergraduate degree programmes in Maldives.
Speaking at the Parliamentary Committee on National Development and Heritage, Deputy Minister of Higher Education Aishath Shafeena said more than 5,600 students have taken the opportunity to pursue degrees for free. She further said invoices of 3,800 refund payments of 1,700 students have also been settled.
The free degree programme is expected to cost the state a total of more than USD 10 million a year. The programme pays the total course fees of undergraduate students studying at the Maldives National University (MNU) and Islamic University of Maldives (IUM), while 40-60% of the tuition fees of students pursuing undergraduate degree programmes in private institutions are paid for by the government.
Speaking at the committee, Minister of Higher Education Dr Ibrahim Hassan said the administration has awarded 567 loans for students to pursue higher education. He said the number is significant compared to the student loans issued in 2018. He also announced plans to announce for additional student loans.
The latest loan round saw the administration awarding 245 students the opportunity to study in any country of their choice, although the full coverage of all expenses are available only in countries approved by the ministry. The rest is provided with a partial coverage of their expenses.
The administration has also recently reduced the interest rates of the student loans and increased the payback period to make it more affordable for all students.