Maldives Insight Staff Reporter

11:29 am

MALÉ, Maldives – The Maldivian government has announced a significant reform to its student loan scheme, enabling applicants to submit requests throughout the year without a specific deadline. Higher Education Minister Dr. Ali Haidar made the announcement today at a press conference held at the President’s Office, citing the difficulties students previously encountered due to fixed application periods.

Key Changes to Loan Scheme

Dr. Haidar explained that the elimination of the application deadline is a principal modification to this year’s loan programme. He noted that under the previous system, students often missed opportunities to apply for financial assistance due to stringent submission timelines.

In addition to year-round application availability, the scheme will also undergo revisions regarding the required application documents. Furthermore, the student loan programme has been restructured to be Sharia-compliant, resulting in the removal of the previously applicable one per cent administrative fee.

Implementation Timeline

The Minister confirmed that the application window for the new student loan scheme would commence the week government offices reopen following the Eid al-Fitr holiday period. This follows the traditional break observed after the last ten days of Ramadan.

These reforms are intended to streamline the application process for students seeking higher education funding and are expected to facilitate a more efficient disbursement of loans for individuals who submit complete documentation.