Student loans taken from Bank of Maldives (BML) by 15 students enrolled at Asian Academy of Aeronautics in Addu City have been transferred to Higher Education Ministry.
With the transfer of the loans to Higher Education Ministry – a decision ordered by President Ibrahim Mohamed Solih – the students will not need to pay any interest. They will also be allowed to being loan repayment to Higher Education Ministry six months after they complete training.
Higher Education Ministry had previously granted a similar six-month deferment on loan repayments for 96 students enrolled at AAA studying under government student loan scheme, who presented documents proving their course completion time.
Higher Education Ministry said they are working on transferring student loans taken from BML by more students enrolled at AAA to the ministry.
The loan concessions come as AAA students face long delays in completion of their courses, for which the management has been found negligent. Maldivian government has taken action against AAA, including revoking the permit issued to AAA’s Training Head, Suranjan De Silva.