Ministry of Higher Education states that a thousand students have applied for the government student loan scheme.

Higher Education Ministry opened up the opportunity for student loans on February 07. The deadline was set at 01pm, March 3.

The Ministry opened up the opportunity for 720 student loans, after reducing the interest for administrative fees being collected for student loans.

Prior to the announcement, the administrative fee carried an interest rate of three percent, which has since been reduced to one percent.

In order to help reduce the additional expenses for students, other than their course fees and ease their financial burdens, students currently completing their degrees under the free degree initiative were given the opportunity to apply for the loan as well.

40 slots have been reserved for MBBS students completing their education in the Maldives.

The opportunity was also opened for students seeking to complete their Masters’.

The scheme includes 417 opportunities for new students and 303 opportunities for students who are already enrolled in courses.