Higher Education Ministry reopens application window for student loans

Ministry of Higher Education has reopened application window for student loans after reviewing the loan policy.

The application was opened for 163 remaining slots out of the 242 slots allocated for the loans. In the initial application window, 993 applications were submitted to the country, out of which only 79 students secured the loans. Under the student loan scheme, loans from USD 1,618 US dollars to USD 161,895 will be issued.

Depending on the amount of loan, the payment period and serving period will differ, according to higher education ministry. The students must begin paying the loan with an interest of 3 percent within 7 months after completion of studies.

The ministry stated loan applications can be submitted before June 24.