MVR 151 million has been allocated for 550 new higher education loans in 2020, says Ministry of Higher Education.

Speaking at a press conference held on Monday, Minister of Higher Education Dr Ibrahim Hassan stated that low-income groups will be given priority in the allocation of the 550 new higher education loans.

He further revealed that the loan will be issued under three categories; new students, ongoing studies abroad and constituencies in the Maldives.

The minister explained that the last category - specialised for each of the 87 constituencies across the country- was established following discussions upon the request of the parliament. As such, the best candidate from every constituency will be awarded the loan, said the minister.

He further stated that candidates cannot apply under more than one category.

Moreover, he declared that, in order to ease the application process, copies of academic certificates do not need to be attested before submission. However, once selected for the loan the candidate is required to submit attested copies, said the minister.

The ministry further announced that the deadline for the application will end at 01:30pm on 9th March, adding that the selected candidates will be announced on April 20th.

While the ministry awarded loans on three separate rounds under the MVR 140 million loan scheme last year, the ministry is also planning a second round to issue the MVR 151 million loan scheme this year.