Gov't issues updated student loan regulation, removing old categories and expanding eligibility

A new regulation has been issued outlining how students in Maldives and abroad can apply for government‑funded higher education loans.

According to the regulation published by the Higher Education Ministry, students will be eligible for loans to pursue studies from Diploma to PhD at MQA‑recognized colleges and universities, including programs that require licensing and medical specialization fellowships.

The regulation also allows students to complete internships of up to one year under the loan scheme. Students applying for an internship through the scheme must submit the required details along with their application.

Under the ministry’s policy, students may study either in Maldives or in countries that have diplomatic relations with Maldives. Students may also choose to study in other countries not covered under the full‑expense loan scheme, but in such cases they must sign an affidavit accepting responsibility for any additional costs and submit documents proving their ability to cover those expenses.

However, a loan issued for study in one country cannot be transferred to another country unless the student discontinues the course or becomes unable to continue studying in the original institution.

All applications must be submitted through the ministry’s online loan portal.

The regulation sets the maximum loan amount at MVR 2.5 million without top‑up. If a student is unable to complete the course within the required timeframe due to circumstances beyond their control, they may receive a top‑up of up to MVR 700,000 at one time.

The ministry also announced that the two previous application categories, “new students” and “ongoing students”, will not be used this year. The ministry said removing these categories will reduce disqualifications caused by students applying under the wrong category and make the process easier.

According to Finance Ministry data released yesterday, the government has spent MVR 97.8 million on the student loan scheme as of March 26, 12.6% of the MVR 776.6 million allocated for 2025. This is MVR 40 million less than the amount spent during the same period last year.

Higher Education Minister Dr. Ali Haidar Ahmed said earlier in March that student loan applications will remain open throughout the year.