Interest Free Student Loan Scheme 2023

Interest Free Student Loan Scheme 2023

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Interest Free Student Loan Scheme for Selected Degree Programs Academic Years – 2019 / 2020 / 2021

What is Interest-Free Loan Scheme?

It is an Interest-Free Loan, granted to students who have qualified in G.C.E (A/L) but have not been selected to a State University based on the Z-score to follow a Degree offered by Non-State Higher Education Institutes recognized by the Ministry of Education / University Grants Commission:

What are the qualifications for the Scheme?

Students who have qualified in G.C.E (A/L) Examination in the years 2019,2020 or 2021 but have not been selected to a State University. Further details could be obtained from paper advertisements (Sunday Observer, Sunday Times, Silumina, Lankadeepa, Virakesari, Vaaramanjari) on 02.07.2023 and from www.mohe.gov.lk website.

What are the Institutes that offer Degree Programs under this Scheme?

1. Sri Lanka Institute of Information Technology Guarantee Ltd – SLIIT (Malambe & Matara Branches)
2. National School of Business Management – NSBM
3. CINEC Campus – CINEC
4. Sri Lanka Institute of Buddhist Academy – SIBA
5. Institute of Chartered Accountants of Sri Lanka – ICASL
6. SANASA Campus Ltd – SANASA
7. Horizon College of Business and Technology Ltd – HORIZON
8. KAATSU Highly Advanced Medical Technology Training Centre – KIU
9. SLT Campus (Pvt) Ltd – SLTC
10. SAEGIS Campus (Private) Limited – SAEGIS
11. Esoft Metro Campus (Pvt) Ltd. – ESOFT
12. Aquinas College of Higher Studies – AQUINAS
13. Institute of Chemistry Ceylon – ICHEM
14. International College of Business Technology – ICBT (Colombo & Kandy Branches)
15. Benedict XVI Catholic Institute – BCI
16. Royal Institute Colombo (Pvt) Ltd. – RIC
17. Nagananda International Institute of Buddhist Studies – NIIBS

What is the duration of the Degree Program and the Loan amount?

03 years Degree – Rs.600,000/=
04 years Degree – Rs.800,000/=

What are the limitations for admission?

Students who have already registered for any course in a State University or registered for Foreign Scholarship programs cannot be registered for this Scheme. Students who have already registered for any course and continuing education in a Non-State Higher Education Institute destined to be implemented this Scheme are also considered disqualified.

How can this loan be obtained?

According to the agreement made between the students who are selected to follow Degrees and the Banks, this Interest-Free Loan will be paid semester fees before starting each semester at the relevant institutes.

Application and Guide Book Available from 04 July 2023