Minister of Higher Education, Labour and Skills Development Dr Ali Haidar has announced that the higher education student loan scheme will be revised this year to allow applications throughout the year, replacing the current system where applications are limited to a specific period.

The Minister shared the update while speaking at a press briefing held at the President’s Office on Wednesday morning, noting that the change is part of efforts to improve services provided to students and increase accessibility to the loan scheme.

Minister Dr Haidar said the Ministry has already introduced several improvements to the student loan programme. One of the most significant changes was President Dr Mohamed Muizzu's decision to ensure that all student loans issued comply with Islamic Shariah principles.

Following that decision, the Ministry also removed service charges previously applied when students repay their loans. The revised system has been in place since last year.

The Minister explained that under the current arrangement for loans, students must apply within a fixed deadline, which can create difficulties for some applicants and result in missed opportunities to obtain the loan.

Under the planned revision, students will be able to submit applications at any time during the year. However, applicants will need to confirm that they are ready to begin their studies before applying.

Minister Dr Haidar stated that students seeking the loan will be required to submit several documents, including confirmation of admission to a university, verification from the Maldives Qualifications Authority (MQA), and details of the programme’s fee structure.

If the field of study requires licensing or approval from a regulatory body, applicants must also provide documentation confirming that the programme is recognised by the relevant authority.

The Minister added that the Ministry is currently working to open the student loan scheme in the week following the upcoming holidays. He noted that once all required documents are submitted, the approval process will be faster than in previous years, allowing students to receive funds quickly.