Ministry of Higher Education has stated it has received 1,300 applications for student loans to pursue higher education.
When the opportunity for 550 slots opened, officials from the ministry explained the loan scheme had been revamped to ease the application process and to facilitate better opportunities for applicants. The ministry said it has received 1,300 applications by the deadline. The ministry has set a budget of USD 9.79 million to provide loans for 550 students.
The ministry has reserved slots for certain areas of study similar to previous years based on a training needs analysis. The reservation process also considered the Strategic Action Plan launched by the administration. Areas such as fishing, agriculture and medicine have been included after considering the requirements.
The ministry said 11 slots have been reserved for postgraduate medical specialisations as Maldives lacks human resources in the area, and offers to develop postgraduate medical specialisations are also limited. Hence, the ministry intends to prioritise students who attain a seat from a medical college.
The higher education ministry has also revised loan award policies to improve the loan process and make it more effective. Hence, the policy will consider the financial status of the applicants. Under the new policy, students who have discontinued their studies due to financial issues can also apply for loans.
Additionally, the students now do not require to attest academic certificates when submitting the loan application. The policy has also been revised to include staff working in diplomatic missions and their family members. A slot for each constituency has also been reserved to distribute the loan opportunities across Maldives.
The recipients of the loan will be announced on April 20.