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Loan delay over sudden increase in application, all students will receive funds: minister

Lamya Abdulla
24 September 2023, MVT 15:05
(FILE) Higher Education Minister Dr. Ibrahim Ali Hassan speaking at a press conference on Thursday, February 16, 2023: he reassured all students that have been granted a loan will receive money. -- Photo: President's Office
Lamya Abdulla
24 September 2023, MVT 15:05

Ministry for Higher Education said on Wednesday that they were facing delays in releasing the student loan money requested by students as they have gotten an influx of forms at once.

A number of students have expressed their concerns on social media over delays in being able to go abroad to study as they have not yet received the funds. Other students have said that they are facing delays in acquiring documents needed to settle their VISA issues, even though they have received funds.

When asked by Mihaaru News about the delay in receiving loan funds, minister for higher education Dr. Ibrahim Hassan said that some of the students who were granted loans have been facing delays.

He said some of these loans were delayed due to the non-availability of certain documents required by the ministry from foreign universities where loans were given for.

“In the previous years from the loan recipient students, at most 60 percent request for the loan. This year we got an unusual influx of requests all of a sudden,” he said.

"The large number of students all applied simultaneously because there were rumors going around that once the election was over, these loans would be cancelled. A lot of students asked to be processed."

The minister said that they are now working with additional employees to expedite the completion of loan-related tasks. These employees are also working extra hours to ensure efficient processing.

"We are processing applications on priority basis for students leaving early. No student who has got a loan will be denied a loan. All the students who got the loan will get the funds," he said.

This time, the government has made 720 student loans available to support higher education, whether pursued within the country or abroad. The primary goal of this year's loan scheme is to broaden educational opportunities in sectors where there is significant demand from students, including provisions for pilot studies and doctoral programs.