Higher Education Minister Reports MVR 473 Million Disbursed in Student Loans, MVR 180 Million Pending
Minister of Higher Education, Labour and Skills Development Dr Maryam Mariya has revealed that MVR 473 million has been disbursed to students under the student loan scheme so far, with an additional MVR 180 million pending for the current year.
At a press conference held last Thursday at the President’s Office, Minister Mariya explained that the issuance of funds has faced delays due to administrative issues, although the Ministry typically releases funds biannually.
advertisement
State Minister for Higher Education, Dr. Abdul Raheem Hassan, added that the previous administration aimed to provide loans to approximately 1,200 students, while this year, funding has been arranged for around 600 students. He noted that 214 students are set to depart for their studies this month, with 74 already having received their loan funds.
The Ministry reported that 290 students are expected to leave for studies on student loans between September and November. While the loans must be repaid, the former administration highlighted challenges in recovering these funds. Minister Mariya confirmed that the Maldives Inland Revenue Authority (MIRA) sends automatic reminders for repayments, supplemented by emails from the Higher Education Ministry.
This year, over 1,709 students applied for the 500 available student loan slots. In a commitment to support education, the Ministry decided to grant loans to all applicants.
Minister Calls for Revisions of Free Degree Programme
During the press conference, Minister of Higher Education, Labour and Skills Development, Dr Maryam Mariya commented on the free degree programme initiated by the previous government, describing it as a commendable initiative but in need of updates to remain relevant. She indicated that the Ministry is revising policies to align the programme with modern skill requirements.
Her remarks came in response to criticism from MPs, notably Baarah MP Ibrahim Shujau, who referred to the programme as ‘a large-scale scam.’ Minister Mariya clarified that there are no plans to discontinue the free first degree programmes but emphasised the necessity for procedural changes in funding approvals. This year, over MVR 115 million has been allocated for first-degree studies in the Maldives, with full funding available only at the two government universities: the Islamic University of Maldives and the Maldives National University.
Challenges in Loan Disbursement
Addressing the concerns regarding delays in loan disbursement, Minister Mariya acknowledged that the high volume of applicants has posed challenges. She assured stakeholders that efforts are being made to expedite processing, even during government holidays.
The Minister detailed that while MVR 473 million has already been disbursed, MVR 180 million is still to be released. Minister noted that many students will be leaving for their studies shortly and that most funding for these individuals has been processed.
Minister explained that logistical challenges arose this year, as students who did not depart last year combined with new applicants, complicating the management of resources. To alleviate the situation, volunteers were recruited to assist in the process.
Minister Mariya reiterated that funds are deposited directly into the accounts of loan recipients and that any disruptions in study due to funding delays would be addressed by direct communication with universities. She assured that the Ministry provides detailed sponsor letters to ensure students’ studies are not interrupted.
