Interest free Education Loan Scheme

Eligibility

The students who have been selected by the Ministry of Education, to follow the selected degree programmes in selected Non State Higher Education Institutions.

Loan Amount

  • For three (03) years degree programme – Rs.825,000/-
    (Course Fee of Rs.600,000/- + Annual Stipend of Rs.225,000/-)
  • For four (04) years degree programme – Rs. 1,100,000/-
    (Course Fee of Rs.800,000/- + Annual Stipend of Rs.300,000)

 

Grace Period

Course Duration + Further one (01) year

 

Repayment Period

Maximum of twelve (12) years

 

Security/Collateral

Joint and several guarantee of two persons, as follows;

  • Mother/Father/Guardian of the borrower (student) and
  • A closely related family member of the borrower (student)

 

Special remarks

Students who wish to obtain this loan must contact the Ministry of Education for more information.

 

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