The Ministry of Higher Education says it would defer student loans issued under its Students Loan Scheme and Educational Assistance Loan scheme till the end of this year.
In a statement, the Ministry said as the COVID-19 pandemic has brought on deep economical and financial troubles to many, the ministry had extended the deferment of loans it had initially set for September till the end of this year.
With this students who had taken loans through the Bank of Maldives and Bank of Ceylon under the national Student loan scheme, those who have taken loans under the Education Assistance loan scheme, those who were granted funding through the MIRA repayment scheme as well as those repaying loans to the Ministry would not be required to make any repayments until December of 2020.
The Ministry added that the loan repayment would be extended till December without making any changes to the loan agreement.
It also said monthly payment values would not be changed and that it was having a discussion with relevant authorities on the matter.
