In a significant policy enhancement, President Dr. Mohamed Muizzu has decided that the student loan program will be extended to include all eligible students.

This announcement was made by Dr. Maryam Mariya, Minister of Higher Education, Labour, and Skills Development, during the public forum "Ahaa" last night.

The application process for this year’s student loan, initiated on February 29, has been extended until May 2, to accommodate more applications.

Some of the eligibility criteria for applying for the student loan program are as follows:

- Applicants must be at least 16 years old

- Applicants must hold Maldivian citizenship

- Applicants must intend to enroll as full-time students

- The program applied for must fall within the MNQF levels 5-10, or be a professional/license program

- The desired program should represent a progression beyond the applicant's current educational level

- For those applying to professional/license programs, prior attainment of an MNQF level 7 certificate or higher is not permitted.

- Applicants should not be receiving government or other funding for the program applied to, either as a loan or scholarship

- If the applicant has previously taken out a loan, they must be in the process of arranging repayment as agreed 

- A guarantor, aged between 18 and 65, who is a family member, must be provided in case of repayment failure.

The program offers 500 slots that cover educational pursuits from diplomas to PhDs in preferred study destinations abroad, targeting key development areas such as construction, aviation, and agriculture, as outlined in the President's manifesto.

This year’s enhancements also include additional support for students with disabilities, ensuring they receive the necessary financial aid to cover extra costs tailored to their unique circumstances.

The loan scheme has been broadened to include not only new students but also those currently enrolled in free degree programs, enabling them to manage additional expenses.

With a total of 370 loans allocated to new entrants and 130 to ongoing students, the scheme is robust.

For students facing unforeseen challenges in their educational journey, top-up loans of up to USD 45,000 will be available to ensure they can continue their studies without interruption.