Government opens applications for higher education soft loans

Posted on 27. Jan, 2010 by admin in Education

Government has opened applications for soft loan scheme for higher education. The total of the fund is 50 million ruffiya.

In a press conference held prior to President’s departure to Abu Dhabi, President Nasheed said that the government decided to provide such loans because even now many students are unable to get their allowances from their sponsors.

According to the Human Resource Ministry, 2083 students would get the opportunity to apply for loan, including those studying abroad and in the Maldives.

Conditions for the loan is that the course should be MBA approved, that the field is included in the skills shortage list by the ministry, that it should be a full time course and that the course or the scholarship does not offer living allowance or stipend from the government.

The loan would be provided on a monthly basis for one academic year and maximum monthly payment would not be higher than MRF 2000. By this loan, government hopes to ease the dire financial situations in which those students are in, according the government sources.

Students who had already received a loan would also be eligible for the loan, although those students who are studying on government grants would not be eligible for the loan.

Application form and relevant information is available at the Ministry of Human Resources, Youth and Sports and applications would be received by the Ministry from 2 to 10 February until 3 pm. Loans would be paid on a first-come first-served basis according to the Ministry.