Interest Free Loan Scheme granted by the Government as declared by the budget proposal of 2020 to pursue selected Degree Programs offered by Non-State Higher Education Institutes

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 Education / University Grants Commission:

What are the qualifications for the Scheme?

Students who have qualified in G.C.E (A/L) Examination in year 2017,2018 or 2019 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 20.12.2020 and from web site.

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

• Sri Lanka Institute of Information Technology - SLIIT
• National School of Business Management - NSBM
• Colombo International Nautical and Engineering College - CINEC
• Sri Lanka International Buddhist Academy - SIBA
• The Institute of Chartered Accounts of Sri Lanka - ICASL
• SANASA Campus (PVT) Ltd - SANASA
• HORIZON College of Business and Technology Ltd - HORIZON
• KAATSU Highly Advanced Medical Technology Training Centre - KIU
• SLT Campus (Pvt) Ltd - SLTC
• SAEGIS Campus (Pvt) Ltd- SAEGIS
• Aquinas College of Higher Studies- AQUINAS
• Esoft Metro Campus- ESOFT
• Institute of Chemistry Ceylon –ICHEM
• International College of Business Technology – ICBT
• Benadict XVI Catholic Institute - BCI

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 to the relevant institutes.