President Dr. Mohamed Muizzu has declared that student loans will now be given to all eligible students seeking higher education opportunities. The announcement was made by Minister of Higher Education, Employment, and Skills Development Dr. Maryam Mariya during the public forum "Ahaa".
The opening of this year's student loan application process, initiated on February 29, marks the first such initiative under President Dr. Muizzu's administration. Initially scheduled to conclude on April 25, the application deadline was extended to May 2, providing further opportunities for aspiring students. Under this scheme, the government has allocated 500 loan opportunities spanning from diploma to PhD programs.
During the forum, Minister Mariya reiterated the government's commitment to simplifying the student loan process and addressing the challenges faced by students aspiring for higher education. She announced President Dr. Muizzu's decision to grant loans to all eligible students who apply in this round.
The loan scheme offers flexibility for students to pursue their studies in their preferred countries, focusing on fields deemed essential for the Maldives' development, such as construction, aviation, and agriculture, as outlined in the President's manifesto. Notably, this year's scheme includes provisions for students with disabilities, with the government pledging to cover additional expenses based on individual circumstances.
Furthermore, existing students and those enrolled in free degree programmes will also have access to the loan scheme to cover supplementary expenses. The ministry has allocated 370 opportunities for new entrants and 130 opportunities for existing students.
In cases where students face challenges completing their programmes due to unforeseen circumstances, top-up loans will be available, capped at USD 45,000, to support their continued education journey.