Minister: Deadline omitted for student loans allowing all-year-long applications

Higher Education Minister Dr. Ali Haidar Ahmed announced on Wednesday that, in contrast to previous years, the student loan scheme will remain open for applications throughout the entire year.

During a press conference on Wednesday, Minister Haidar explained that the prior practice of establishing fixed deadlines for loan applications posed challenges for certain students, often resulting in missed opportunities to submit applications within the stipulated timeframe.

To address this issue, the Minister stated that no specific application deadline will be imposed this year, thereby allowing students to submit their applications at any time. He emphasized that this adjustment is intended to ensure that all eligible students have access to financial assistance while significantly enhancing the convenience of the application process.

"With this change, students should apply once they are fully prepared to commence their studies. The documentation required when applying for the loan will also be different. They include obtaining a placement and the necessary certifications from the Maldives Qualifications Authority (MQA)," the Minister remarked.

Minister Haidar further noted that the application window for student loans will commence once government offices resume operations following the upcoming holidays.

According to data from the Ministry of Finance, MVR 79.1 million had been disbursed in student loans as of February 27, representing 10.2 percent of the total MVR 776.6 million allocated for this purpose in 2024. The Minister clarified that over MVR 20 million had been provided to 2,001 students by the end of February.

In the previous year, the government had budgeted MVR 768 million for student loans, of which MVR 603 million had been utilized by the close of December.