Sri Lanka Ministry of Education says that the call for applications for the seventh phase of the Interest Free Student Loan Scheme IFSLS for students who have passed A/L Examination but lost their university admissions will begin from July 4th. Students those who sat for the A/L Examination in the years 2019/2020/2021 can apply for it till August 7th.

Applications can be submitted online through the website and all relevant information can be obtained by visiting the website and referring to the student handbook.

Government provides an interest free loan for students subject to a maximum loan amount of Rs. 800,000/- for pursuing degree programs approved by the Ministry of Education. Further, an interest free loan subject to a maximum amount of Rs. 300,000/- can be obtained by the students as their wish to cover the additional expenses.

The interest will be paid by the government on behalf of the students and the capital outstanding should be paid by the students within seven (7) or eight (8) years after completing the degree of three (3) or four (4) years and succeeding one- year grace period of time.

For more information, the Ministry of Education informs to call 070-3555970, 070-3555971 and up to 79.

Student Loan Division says that they will release the Student Handbook on July 4th and students can download the PDF file in Sinhala, English and Tamil Languages.

For Which Universities i can apply under Interest-Free Student Loan Program ?

Opportunities are given only to study full time degree courses at approved non-state universities under the IFSLS. Non–state higher education institutes approved under the Universities Act, No. 16 of 1978 (amended from time to time), which included in the Student Loan Scheme are as follows;

i. Sri Lanka Institute of Information Technology Guarantee Ltd – SLIIT
ii. National School of Business Management – NSBM
iii. CINEC Campus – CINEC
iv. Sri Lanka Institute of Buddhist Academy – SIBA
v. Institute of Chartered Accountants of Sri Lanka – ICALS
vi. SANASA Campus Ltd – SANASA
vii. Horizon College of Business and Technology Ltd – HORIZON
viii. KAATSU Highly Advanced Medical Technology Training Centre – KIU
ix. SLT Campus (Pvt) Ltd – SLTC
x. SAEGIS Campus (Private) Limited – SAEGIS
xi. Esoft Metro Campus (Pvt) Ltd. – ESOFT
xii. Aquinas College of Higher Studies – AQUINAS
xiii. Institute of Chemistry Ceylon – ICHEM
xiv. International College of Business Technology – ICBT
xv. Benedict XVI Catholic Institute – BCI
xvi. Royal Institute Colombo (Pvt) Ltd. – RIC
xvii. Business Management School (Pvt) Ltd. – BMS

How much value i get under Student Loan Scheme ?

Maximum loan amount of Rs. 800,000/ and maximum amount of Rs. 300,000/- can be obtained by the students as their wish to cover the additional expenses.

Contact Number call 070-3555970, 070-3555971 , 070-3555972 and up to 79.