MVR 365.27 million spent on loans to 396 students this year

The government has made MVR 365.27 million in loan disbursements for students as of September 11, according to statistics released by the Higher Education Ministry.

The statistics released by the Higher Education Ministry on Sunday shows the government has made total MVR 1.07 billion in student loan disbursements since last year for 1,226 students, including 666 female students and 560 male students.

This includes MVR 365.27 million in loan disbursements to 396 students – 243 female students and 153 male students - since January this year.

Total 964 students who took out student loans have successfully graduated since last year, including 382 who graduated this year.

There are 1,733 students studying under the state-funded loan scheme at present at 40 different countries, including the Maldives.

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— Min. of Higher Edu, Labour and Skills Development (@MoHEmv) September 14, 2025

Decline in spending on student loans

The latest weekly fiscal development report released by the Finance Ministry on Sunday shows a decline in spending on student loans.

The budget allocation for student loans this year is MVR 768 million.

But according to the report, the government spent MVR 351.3 million on student loans as of September 4. The figure is lower than the MVR 463.9 million spent during the same period last year, marking a decline of MVR 112.6 million.

The overall spending on the higher education sector has also seen a decline compared to last year.

The budget allocation for the Higher Education Ministry this year is MVR 1.36 billion. But the latest report shows the actual spending stands at MVR 679 million, marking a decline of MVR 74.3 million compared to the MVR 753.3 million spent during the same period last year.