Government to provide student loans to all qualified applicants this year

1,225 students had met the eligibility criteria for the loans this year

President Ibrahim Mohamed Solih speaking at the 'Top Achievers' Award 2021-2022' ceremony. | Photo: PO

President Ibrahim Mohamed Solih announced on Wednesday that the government will provide student loans to all qualified applicants who have submitted their loan applications.

The announcement was made at the ‘Top Achievers’ Award 2021-2022,’ which honored students with the highest scores at the 2021-2022 Higher Secondary Examinations.

In his speech, President Solih highlighted the administration’s commitment to providing higher education opportunities to all Maldivians. He said that the government has made significant advancements in the loan allocation process this year, and that it is committed to ensuring that all eligible students are able to secure a loan.

President Solih also spoke about the importance of skills development for youth. He said that the government’s initiatives, such as the National Apprenticeship Programme, are designed to equip young people with the skills they need to contribute to the growth of their communities and the nation.

President Solih congratulated the students who were honored at the ceremony for their outstanding achievements. He said that their success is a beacon of hope for the future of the Maldives, and that the government is committed to supporting their educational aspirations.

Details about the student loan initiative:

  • The loans are available to all Maldivian citizens who have been accepted to a higher education program at a recognized institution.
  • The amount of the loan is based on the cost of the program and the student’s financial need.
  • The loans must be repaid within 10 years of graduation.

The President stated that 1,225 students had met the eligibility criteria for the loans, and the administration intends to extend loan offers to all of them.

He emphasised that in the event an eligible student is unable to secure a student loan, the administration would investigate the situation and take measures to ensure that students can avail themselves of the benefits of the student loan programmme.

He added that the Ministry of Higher Education would issue additional details about the student loan initiative soon.