Applications called for interest-free student loan scheme
July 4, 2023 07:23 pm
Accepting applications for the 7th phase of the interest-free student loan scheme for 5,000 students who have faced the G.C.E. Advanced Level examination commenced today (July 04), the Department of Government Information (DGI) said.
Accordingly, the students who faced the G.C.E. A/L examination in the years 2019, 2020 and 2021 are eligible for the loan scheme this time, the DGI mentioned.
Earlier on Monday, the State Minister of Finance Ranjith Siyambalapitiya stated that the interest-free student loan scheme is provided for students to help receive their higher education in private universities.
The applications for this loan scheme can be submitted online by visiting the website www.studentloans.mohe.gov.lk.
Further details regarding the matter can be accessed by referring to the students’ handbook which is available on the relevant website or through the contact numbers 070-3555970, 070-3555971, 070-3555972, 070-3555973, 070-3555974, 070-3555975, 070-3555976, 070-3555977, 070-3555978, 070-3555979, the DGI added.
The application deadline is August 07, 2023, according to the DGI.
Commenting on the matter yesterday (July 03), State Minister Siyambalapitiya also pointed out that the students who obtain the relevant loan facility need to follow job-oriented courses.
“The project to provide interest-free loans to 5,000 students for their higher studies at private universities for the years 2019, 2020, and 2021 has been approved. It isscheduled to be announced by the Ministry of Education”, the state minister emphasized.
He further expressed that this is a special decision taken by the government for the need for higher education in the country, adding that the entire interest in this program is borne by the government for the education of the students.
“There, the priority is given to job-oriented courses,” the state minister highlighted.
“As per our previous experiences, even if such loan facilities have been provided before, more than 90% of the students have followed courses that are in demand for employment immediately after leaving the university.”
Furthermore, Siyambalapitiya emphasized that if any competition arose for the loan scheme, it will be decided according to the Z-Score of the students.
“Accordingly, the students who go to private universities with integrity and are ready to study special job-oriented courses will receive this loan facility,” he pointed out.
