Education Society & Culture

Government pushes back student loans to end of 2020

The Ministry of Higher Education, on Wednesday, revealed that student loan payments would be deferred until the end of 2020 in connection to the financial repercussions of the COVID-19 pandemic.

The deferment is applicable to National Loan Scheme arrangements facilitated via Bank of Maldives (BML) and Bank of Ceylon, Education Assistance Loan Scheme arrangements and loans which must be repaid to the Maldives Inland Revenue Authority (MIRA).

According to the the higher education ministry, loan holders are not required to amend deadlines set in their agreements for the deferral to apply.

The government initially postponed payments on student loans for a six-month period in March. The period is set to expire in September.

Despite the deferrals, the government continues to issue payments for loan holders as well as students on scholarships or enrolled in any of the ministry’s various educational schemes.

Full details are available at the link below:

Source URL: Google News

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