The Maldives has significantly boosted its investment in higher education over the last two years, with over USD 123.2 million allocated to various schemes aimed at expanding educational opportunities for its students, the Minister of Higher Education, Labour and Skills Development, Dr Ali Haidar Ahmed has said.
The Minister announced the figures during a recent appearance on PSM News' ‘Hafthaa 104’ programme to mark the two year anniversary of the incumbent government, detailing the Ministry's achievements and future plans.
The substantial funding has been channeled through several key initiatives, including scholarship programmes, student loan schemes, and a first-degree scheme, all designed to align educational pursuits with national development needs.
Minister Haidar highlighted that the loan scheme has been particularly successful, with all eligible applicants over the past two years receiving the opportunity to pursue their studies, including specialised fields crucial to the nation's progress.
Emphasising the importance of financial responsibility, the Minister also touched upon the need for loan repayment upon completion of studies, while a policy paper has been forwarded to the President's Office to facilitate and encourage this process.
The Minister also revealed a key policy decision – President's directive to prioritise at least two-thirds of the student loan scheme funding towards highly technical fields such as engineering and medicine, a commitment that will be upheld annually.
Regarding scholarship opportunities, the Ministry has actively cultivated relationships with various countries over the past two years to secure placements. While acknowledging the success in securing numerous scholarships, the Minister also noted challenges where local students have failed to fully utilise all the scholarships opportunities available in some countries. Efforts are ongoing to secure additional scholarships from partner nations, he added.
In total, the Ministry reports that 699 scholarships and loans have been disbursed to 2,108 students in the last two years. The first-degree scheme has benefited a remarkable 8,445 students, bringing the total number of individuals provided with higher education opportunities to 11,252 during this period.
The proposed state budget for next year also reflects a continued commitment to higher education, with USD 40.2 million allocated for scholarships and free degrees – a 29.4 percent increase over the this year's allocation. Next year, 239 new students are slated to commence studies under the scholarship scheme, with a total of 881 students benefiting from various scholarships funded by the budget.
The student loan scheme also sees a robust allocation of USD 50.4 million, supporting an estimated 500 new students and a total of 3,258 students with loan provisions.