Government has reduced the administrative charges of the student loan and extended the repayment period of the loan.
Previously the administrative charge was at 5% of the total loan amount. It has now been decreased to 5 percent.
According to the Higher Education Ministry, all loans taken before 1st January 2019 will have an administrative charge of 3% and will get an extended period to repay it.
Reducing the administrative charges and extending the repayment period is a campaign pledge of President Ibrahim Mohammed Solih.
