Ministry of Higher Education has revealed student loans will be provided to 720 individuals.
The higher education ministry will be providing 417 loans to new students and 303 loans to students currently in higher education.
Interested individuals are required to submit their applications by March 3. Providing student loans to 720 individuals this year was a pledge made by President Ibrahim Mohamed Solih during the presidential address at the Parliament of the Maldives.
At a press conference, Minister of Higher Education Dr. Ibrahim Hassan said the loan scheme began after reducing the student administration fee from 3% to 1%. The minister noted the administration had reduced the fee from 5% to 3% in its first year and that further reducing the fee to 1% was conducted as part of the strategic action plan. He said the loan scheme also includes the opportunity to complete a master's programme in the Maldives, as many students are currently in such programmes and the COVID-19 pandemic has reduced the opportunities to study abroad.
Furthermore, Minister Hassan said the loan scheme will provide the opportunity for students in first degree programmes to apply for loans to cover various costs and will include 40 slots reserved to cover various costs for students pursuing Bachelor Degree in Surgery (MBBS) programmes. He said the scheme will continue to provide opportunities for people with special needs to study abroad, adding they are required to file documentation confirming they are listed in the register of the poor and needy.
He also said the ministry is funding the education of students at Addu Flying School who transferred to Maldivian Aviation Academy, but it was separate from the higher education loan scheme.