President Ibrahim Mohamed Solih has suspended the student loan repayments till the end of the year on Tuesday.
While addressing journalists virtually, President Ibrahim Mohamed Solih said that he has discussed the issue of student loans with Finance Ministry and Higher Education Ministry. They have decided to suspend repayments of the student loans till the end of the year according to the president.
Last year, when Maldives went into lockdown due to COVID-19, a large number of the Maldivian youth faced unemployment following the economic collapse. Then too, student loans repayments were halted for the year, only restarting in January of 2021.
However, President Ibrahim Mohamed Solih did not clarify whether the suspension of loan repayments would be automated similar to how it was conducted last year, or if anything had to be done requesting for a suspension.
There are over 4,000 people in Maldives with pending student loan repayments, the President had said in a press conference held in March of this year.