Interest Free Student Loan Scheme 2024

Interest Free Student Loan Scheme 2024

The Student Loans Division in the Ministry of Education implements the Interest-Free Students Loan Scheme (IFSLS) for Sri Lankan Students who have passed the G.C.E (Advanced Level) Examination. The opportunity is given to follow selected degree Programmes accredited and all the Non-State Higher Education are approved by the Ministry of Education.

Qualified Applicants for 6th Intake

Students who passed the G.C.E. (Advanced Level) Examination in 2020, 2021 & 2022.

How to Apply

Qualified applicants should use the online system facilitated through www.studentloans.mohe.gov.lk website for submission of applications.
Online Applications can be submitted from 2024.09.20 to 2024.10.20

Minimum Entry Qualifications

Having obtained simple (S) passes for all the three subjects in one and same sitting and not exceeding three sittings, and
Having a minimum of 30 marks for the Common General test at any sitting described in above (i) or re-sitting for the Common General Test in the year 2020 subject to the condition of a maximum of three sittings.
G.C.E (Advanced Level) simple (S) pass in General English or Simple (S) pass in English for G.C.E (Ordinary Level).
The age of the Candidates should be 26 years or below as at 2024.10.20

Other

Please Refer to the Guide Book in www.studentloans.mohe.gov.lk

the minimum qualifications that they have to be fulfilled
The preferences are given by them for degree courses
Number of seats granted for degree programs by the relevant Non-state Higher Education Institutes
When the number of applications received exceeds the seating capacity for each degree program at the relevant institute, the selection will be done on the merit order of Z-score obtained at the G.C.E (A/L) examination by the applicants.

Maximum loan amounts – 1500,000

All the students who are facilitated under the Interest-Free Students Loan Scheme should get a minimum of a general pass (“C” pass) for every subject and have to maintain 80% of attendance during their study hours.

The total loan period is 12 years for the IFSLS.
The repayment of the loan should be started after the study period and following one-year grace period.

Non-State Higher Education Institutes under IFSLS

No	Name of the Institute
1.	Sri Lanka Institute of Information Technology Guarantee Ltd- SLIIT
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
15.	Benedict XVI Catholic Institute – BCI
16.	Royal Institute Colombo (Pvt) Ltd. – RIC
17.	Business Management School (Pvt) Ltd. – BMS
18.	International Institute of Health Science – IIHS