Student loan repayment delayed till year end

President Ibrahim Mohamed Solih | Photo: Maldives Independent

Malé, Maldives – President Ibrahim Mohamed Solih announced that student loan repayment period have been extended until the end of this year, 2021.

Speaking at a press conference held this afternoon, President Ibrahim Mohamed Solih told that following discussions carried out with Ministry of Higher Education and Ministry of Finance that the Higher Education had told that loans would be deferred till the end of the year.

This comes after President Solih’s had told at the press conference held on May 26, 2021 that he would discuss about what the government can do about the student loans after a question about it from a journalist.

While the government had announced further leniency on the student loans, the government had differed the student loan payments last year as well.

The Ministry of Higher Education had postponed till the end of 2020 due to the financial repercussions of the COVID-19 pandemic. Initially, the payment of student loans were postponed for a six-month period in March 2020 by the government, however, they later extended it till September of the year.

Despite the postponement of the student loans, the government of Maldives has continued to issue payments for loan holders as well as students on scholarships or enrolled in any of the ministry’s various educational schemes.

Higher Education Ministry had opened 770 slots for students to receive the loans this year as well. This is highest amount of slots provided by the Ministry yet 550 slots were opened for applications last year. Higher Education Minister Dr. Ibrahim Hassan stated that the slots include 471 slots for students currently studying and 299 slots for new students.