The Government has opened 500 loan opportunities under its higher education loan scheme, aimed at supporting students pursuing studies both domestically and internationally.

According to a statement issued by the Ministry of Higher Education, Labour, and Skills Development, the loan scheme will provide financial assistance in two categories. One category is designated for students who need financial aid to complete their ongoing studies, while the other is for individuals planning to begin a new course.

For those requiring assistance to complete their current studies, the loan is intended to help students who are unable to finish their courses within the scheduled timeframe due to unforeseen circumstances. Additionally, students who need to undertake internships related to their academic programmes will also be eligible for financial support. The maximum amount available under this scheme is MVR 700,000.

New applicants may apply for the loan if they are not currently registered at a higher education institution or have not yet paid their tuition fees at the time of application submission. Students seeking financial aid to complete their studies must have commenced their courses before the designated loan issuance period.

The deadline for applications has been set for April 30, and students are encouraged to submit their requests before the closing date to be considered for financial assistance.

Meanwhile, the President has urged the government to ensure that the loan scheme adheres to the principles of Islamic jurisprudence. This would mean that no additional charges or interest should be applied beyond the original loan amount.