President Dr Mohamed Muizzu has announced that all students who meet the eligibility criteria for higher education loans, both in the Maldives and abroad, will receive financial assistance this year. A total of 806 students have qualified for the scheme.

In a post on X today, the President stated that he has instructed the relevant ministries to extend loans to all eligible applicants under the higher education loan programme.

Earlier this year, President Dr Muizzu directed that administrative fees on higher education loans be removed to ensure compliance with Islamic finance principles. Following this directive, the Ministry of Higher Education implemented key changes in March, including:

  • Full repayment of student loans without any additional charges beyond the disbursed amount.
  • Removal of administrative fees at the time of loan repayment.
  • A 1% administrative fee previously charged on loans will be deducted from existing loans and adjusted against repayment amounts.