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 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 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 loan repayment should be started after the study period and following a 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 |
| Paper Notice | English |
| Paper Notice | Sinhala |
| Paper Notice | Tamil |
| Application | Apply Online |
| Closing Date | 2024.10.20 |
| Guide Book | Sinhala | English | Tamil |
Interest Free Student Loan Scheme 2024
