The Minister of Higher Education Dr. Ibrahim Hassan has stated that over MVR 130 million has been issued for student loans in the past year.
While speaking to Raajjemv, the minister divulged 95% of the ministry's budget has been spent directly on students.
He also stated that the governments loan scheme has proved to be highly successful, evident by the fact that the scheme was offered three times last year.
So far, 567 students have been issued loans under the scheme. The ministry plans to announce another loan scheme early next year.
According to the minister, the ministries greatest achievement as the administration reaches its one year mile-stone, was the launch of the “Free Education Scheme for Degree Students”.
The minister noted the scheme has been receiving continuous positive feedback from the public and highlighted that 4500 students are currently funding their studies through the scheme.
The government has spent MVR 39 million for the first degree program so far
~ Minister of Higher Education Dr. Ibrahim Hassan
The scheme originally had arrangements to pay the students college or university fee by depositing it directly in the institutes bank account on behalf of the students. However, this was changed due to the process being long-winded and time-consuming. Currently, arrangements have been made to issue the course fee directly to the student.
The Ministry of Higher Education is mainly concerned with providing scholarships, fellowships and other types of training.