Minister: Additional student loan schemes unlikely this year

Higher Education Minister Dr. Ibrahim Hassan, on Monday, said the possibility of opening any additional student loan schemes this year remained uncertain.

Higher Education Ministry had opened application for 550 student loan opportunities in February, and at the time, had announced it planned on rolling out more loan schemes later this year.

In an appearance on the RaajjeTV show Fala Suruhee on Monday night, Dr. Ibrahim Hassan said the government remained committed to offering student loans, if possible.

“We are committed to facilitating it, if our economy provides the smallest leeway. The nation cannot progress without developing people. It is only by developing the Maldivian people that we will have talented and capable sons and daughters equipped to deal in the event similar circumstances present itself in the future,” said Dr. Ibrahim Hassan.

He said the Higher Education Ministry was vetting applications, and that the delay in final selection was due to the COVID-19 pandemic, which has prompted Maldives to close government offices.

“However, we are working now to process as many applications as possible and complete this process. Once this process is complete, we will keep the public appraised of any additional decision regarding this. However, we, at this time, are not entertaining any decision to make any new announcements which is contrary to the previous announcement,” said Dr. Ibrahim Hassan.

He noted that the COVID-19 pandemic had hit the Maldivian economy hard, and was having an impact on all sectors, including the education sector.

He said that he was therefore unable to commit to introducing any new student loan schemes at this time.

Dr. Ibrahim Hassan said that while the government was not able to commit to any new schemes, it was working on accessing applications for its February scheme, and making a decision.

He provided assurance the students who have already been granted loans will continue to receive their loan payments.