MRF 10.6 Million worth loan-aid scheme for higher studies

The government introduces a loan scheme for Maldivian students who wish to go abroad for further studies. Human resource ministry says that the scheme is worth MRF 10.6 million.

Deputy Minister Aminath Ali said that the students who were now abroad and those who wish to go abroad can apply. The application has been open since yesterday. Deputy minister says that the application will be accepted until 7th of next month.

The scheme will provide loans up to PhD. A student can get an amount of MRf 100000 – 300000.

“We will lend the loan according to certain criteria. Any student who is eligible and meets the criteria can apply.” says Aminath Ali.

The loan has to be repaid, and the loan repaying period will start after a grace period of six months after the studies. Loan has to be paid without interest and the repayment period has been set at ten years.