720 Slots for Student Loan Applications Now Open

Ministry of Higher Education has announced at a press conference that they will be issuing student loans to those who wish to undertake their Master’s Degree in the Maldives. During the conference, Higher Education Minister Dr. Ibrahim Hassan noted that many students were currently studying for their Master’s degrees.

Due to this, the Minister said that it was because of this reason that the government decided to issue financial assistance for those who were pursuing their Master’s.

“We created this opportunity because a lot of students are studying for their Master’s degree in the Maldives. The COVID-19 pandemic has posed many obstructions for students to go abroad for their studies,” he had said.

The Minister also mentioned that the biggest difference with the new student loans was that the three percent interest charged as administrative fee had been cut to one percent. 

“In the first year of this administration, we cut the administrative fee from five percent to three percent. And we wrote in the strategic action plan that we would cut the administrative fee to one percent,” he said. 

The 720 student loans were opened after slashing the interest taken in the form of the administrative fee. The number is comprised of 417 slots available for new students and 303 slots available for those who are already enrolled.

In addition to this, 40 slots have been reserved for MBBS students in the Maldives.

Interested parties can apply for the loan on the Ministry of Higher Education's official website. The deadline for applications is 1 pm on March 3.