Applications for Interest-Free Student Loans – Ministry of Education | The Ministry of Education has announced the opening of applications for the 8th intake of the Interest-Free Student Loans Scheme (IFSLS) for students who have successfully passed the G.C.E. (Advanced Level) examinations in 2020, 2021, and 2022. This scheme is designed for students to pursue selected degree programs at recognized Non-State Higher Education Institutes.
Key Details of the Interest-Free Student Loans:
- Degree Programs: The offered degree programs are conducted in English, and a detailed list is available in the student handbook on the website.
- Eligibility: Students must have passed three subjects in one sitting in the G.C.E. (A/L) exam and meet minimum subject requirements for specific streams. Candidates must not exceed the age of 26 years as of 20 October 2024.
- Loan Disbursement: Selected students will be directed to banks, where they can secure loans with two guarantors, one being a parent or guardian.
- Loan Amount: A maximum loan of Rs. 1.5 million will be provided, covering both tuition fees and living expenses, with a repayment period of 12 years.
| Details | English | Sinhala | Tamil |
| Handbook | English | Sinhala | Tamil |
| Application | Click Here |
| Closing date | 20 October 2024. |