Interest Free Loan Scheme granted by the Government as declared by the budget proposal of 2017 to pursue selected Degree Programs offered by Non-State Higher Education Institutes
01. What is Interest Free Loan Scheme?
It is an Interest Free Loan, granted to the 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 Higher Education and Highways/ University Grants Commission:
02. What are the qualifications for the Scheme?
Students who have qualified in G.C.E (A/L) but have not been selected to a State University.
Further details could be obtained from paper advertisements (Lankadeepa, Sunday Observer, Thinakaran VaraManjari) on 03.09.2017 and from www.mohe.gov.lk web site.
03. What are the Institutes that offer Degree Programs under this Scheme?
• Sri Lanka Institute of Information Technology (SLIIT)
• Colombo International Nautical and Engineering College (CINEC)
• Horizon Campus
• Sanasa Campus
• National School of Business Management (NSBM)
• KAATSU Highly Advanced Medical Technology Training Centre (KIU)
04. What is the duration of the Degree Program and the Loan amount?
03 years Degree - Rs.600,000/=
04 years Degree - Rs.800,000/=
05. 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.
06. 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 given to the relevant institutes as installments.