The Minister of Higher Education, Labour and Skills Development, Dr Ali Haidar has announced a transformative shift in the nation’s student loan programme, pledging to create unlimited opportunities for students pursuing technical fields deemed critical to national development.
The announcement came during a ceremony marking the opening of applications for higher education and training loans, both domestically and internationally.
Detailing a series of major reforms, Minister Haidar said that a minimum of 50 percent of the loan scheme’s funds will now be exclusively reserved for technical areas. Loans for non-technical sectors will be maintained at a fixed level, ensuring that financing is strategically aligned with the country's most pressing needs.
“This will encourage students to study in the fields that the country needs most. The main objective of these changes is to make every student an educated, capable, skilled, and productive person who will contribute to nation building,” he explained.
In a significant move to improve accessibility, the Ministry has eliminated the application deadline. Students can now apply for a loan as soon as they receive their placement certificate, a letter of intent from the Maldives Qualifications Authority (MQA), and a fee structure, streamlining the process and reducing delays that previously prevented students from commencing their studies on time.
Additionally, the controversial categorisation of applicants into new students and enrolled students has been abolished. This change is designed to eliminate confusion and ensure all eligible students have equal and guaranteed access to financing when they need it. The loans remain Sharia-compliant, with students not charged interest beyond the actual amount spent on their studies—a policy that has been in effect since last year.
The Ministry also confirmed it is undertaking a review of the stipend rules for students studying abroad, signaling a continued commitment to supporting the nation's scholars.