Maldivian students studying abroad under Government loan schemes may soon receive relief from the financial strain caused by high exchange rates for US dollars.

For years, students have voiced concerns about the difficulty of accessing dollars at official bank rates, adding pressure to their already tight budgets. These issues were highlighted during the third episode of Rayyithunnaa Eku, a podcast hosted by the President’s Office to engage directly with the public.

President Dr Mohamed Muizzu acknowledged that many students abroad have raised this concern during his foreign visits, stressing the impact of exchange rate challenges on their studies and well-being.

In response, the President has vowed to resolve the issue, instructing the Ministry of Finance and Planning to find a viable solution. Discussions are already underway with the Governor of the Maldives Monetary Authority (MMA) to make foreign currency more accessible to students without harming the local economy.

The Government plans to ensure that dollars accessed at the official rate will be used solely for educational expenses in the students' countries of study, providing crucial financial stability for those managing their expenses abroad.

Currently, more than 1,600 Maldivian students are pursuing higher education overseas through Government loan schemes and scholarships.