The Minister of Higher Education, Dr. Ibrahim Ali Hassan, announced on Thursday that 120 students who had to discontinue their studies for various reasons after receiving student loans now have another opportunity to reapply.
Speaking at the weekly press briefing held by the President's Office every Thursday, Dr. Hassan said that among the students who took out loans, there were many who had to drop out for reasons outside their control or their will. A set of rules has been framed on how these students will be allowed to apply for loans again.
As per the student loan policy, students who dropped out are not able to get loans again.
"We have noticed that in the last few years, the government has given loans to students and provided opportunities for them, but some students were not able to complete their studies due to things that went beyond their control, even when the loan amount was running out," the minister said.
"So, this time, we will allow 120 students a loan extension so that these students can apply for loans again."
According to the new student loan policy, which came into effect yesterday, "top-up loans" will be provided for the period of non-completion of a programme due to reasons outside the student's control. The policy provides three scenarios, which can be considered reasons. They are as follows:
- The centre running the program stopping the program;
- The student's health leading to a suspension in continuing the program;
- Changes in the duration and cost of the program agreed upon at the time of enrolment by the centre conducting the program.
This time, the government has decided to award 720 student loans for higher education in the Maldives and abroad. This year's loan scheme was opened with an increased scope in the sectors where student demand was the highest in the previous years.
Last year, there were 10 slots for the pilot course, which has been increased to 60 this year. While 25 MBBS slots and 10 medicine slots were open last year, this year the numbers have been increased to 55 and 20, respectively.
Under the loan scheme, disabled students can study at the diploma level in the country and abroad.
All students completing their first degree under the government's free degree policy will be allowed to apply for student loans to meet the other expenses not covered under the scheme.
Applicants can apply for these loans until March 15. The ministry said it will evaluate the applications submitted before the first of next month and allow any necessary amendments before the formal deadline.
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