Educational student loan schemes offered by Banks in Sri Lanka
In Sri Lanka currently some private banks and few state banks offer student loans. Out of these Sampath Bank Pvt Ltd,. is a leader in Student Loan market in Sri Lanka. They offer a comprehensive loan programme for Sri Lankan students.
This Educational Student Loan Programme facilitates for courses are offered by following institutes
- Manipal University degree programme, India
- Sri Lanka Institute of Marketing (SLIM)
- Chartered Institute of Management Accountants (CIMA-UK)
- Institute of Personal Management (IPM)
- Postgraduate Institute of Management, University of Sri Jayewardenepura(PIM)
- Royal Institute of Colombo(RIC)
- Informatics Institute of Technology (IIT)
General requirements for applying Student Loans
The applicants should be citizens of Sri Lanka. Applicants should provide a confirmation letter/ an eligibility letter or registration documents from the relevant institute. For all courses other than Manipal University Degree Programme, Sampath Bank only finance 75% of total cost. Applicants have to bear the rest 25%. It is also required to successful completion of 1st semester/ 1st level of the course in order to eligible for total loan amount. You should also provide documentary evidence on repayment capacity together with two guarantors. When the applicant is not employed or the income drawn is not sufficient to meet the installment, parents / guardian can be the co bearers of the loan. Applicants have to provide salary particulars or income tax documents of parents or the student himself. The current interest rate for Educational Student loans is 22% p.a.
Manipal University degree programme, India
It is open for all students who are eligible to follow the MBA / MSc IT in University of Manipal Sri Lanka branch. Sampath Bank provides 100% of course fee and registration fee also. Repayment period is 4 years.
Sri Lanka Institute of Marketing (SLIM)
All registered and new students who are eligible to follow SLIM / MBA programme can apply for this loan scheme. Applicants should be below 50 years of age. Maximum loan amount would be Rs 400,000. There’s a 3 year repayment period available.
Chartered Institute of Management Accountants (CIMA-UK)
All registered and new students who are eligible to follow CIMA examinations can apply for this loan. Loans are provided for registration fee, subscription fee, exam fees and tuition fees. Applicants have 5 year payback period.
Institute of Personal Management (IPM)
All registered and new students who wish to apply for Master of Management in HR offered by the Institute of Personal Management (IPM) in collaboration with University of Southern Queensland (USQ), Australia and Diploma in Professional studies in HRM by IPM can apply for this loan programme. For Masters maximum loan amount would be Rs500,000/- with a repayment period of 3 years and for professional studies Rs80,000/- with 2 year repayment period. Applicants shoud have a savings or current account with Sampath Bank.
Postgraduate Institute of Management, University of Sri Jayewardenepura (PIM)
All students who are eligible to follow MBA Programmes at the Postgraduate Institute of Management (PIM) affiliated to the University of Sri – Jayewardenepura are eligible for this loan scheme. Applicants should be less than 50 years of age and have to provide details of initial payments to the institute. Repayment period is 3 years. They should also have a savings or current account with Sampath Bank.
Royal Institute of Colombo(RIC)
Students who are eligible for degree programmes of royal Institute can apply for this loan. The amount could go up to a maximum of 75% of the total course fee or Rs300,000.00 whichever is lower. Repayment period is 3 years.
Informatics Institute of Technology (IIT)
Applicants should be eligible to follow a degree programme of IIT and shoul provide confirmation documents from the institute. The amount could go up to a maximum of 75% of the total course fee or Rs300,000.00 whichever is lower. However this can go up to Rs1,000,000/- if applicant mortgage the loan against a property. Repayment period is 3-5 years.
For further information on Educational Student Loans you can contact Sampath Bank on 011-2303050 or visit your nearest branch.
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am krishan..i wanna take a lone 35lks for my higher education in Australia.i already hv money dat wanted for my education bt i hv no way show money how cam….so datz y i wanna take a lone… can i get show money lone via da bank…. i can pay intersest as well as more money for dat
@musobozi robert: Please take a phone and contact one of the above banks to get a loan. Or visit a bank for details.
am musobozi robert astudent at mpangass iwould like to acees alone in your bank to compleat my studies am augandan aged 19 yrs ineed your help
Perera,
Please contact your agent in Sri Lanka, they will arrange a loan for you. Im not too sure whether a bank grant a loan since you are leaving the country after obtaining the loan.
@perera, please visit one of the banks listed above and check whether you can get a loan. If you are successful, please post here, so others can also go to the same bank.
‘Dear Sir, Madam, i want to get 10 lakhs to complete my higher education in uk where can i get that
Hi kalana,
Can SLIIT student apply for a loan?
Thanks
Newton,
Im not clear why you need a loan for a government degraee because most of the facilities are free. Alternatively he can apply for Mahapola or Burse ry, which are given from the university.
my son need a loan for his studies in university of moratuwa which is to be settled after the degree.Is there a way to obtain a such loan in banks in srilanka?
@Tharindu, Please contact banks above for your loan.
Hi Sir…
Currently iam not working… I already apply for the Master of computer science degree (UCSC). I need 3lacks . How can i get this loan…
both my parents are retired.
my brother is working as a software engineer (contract basis)
Hi Can we any feed back on above matter !
Thanks
Sandun Harshan
Hi, i am willing to do the ACCA, can you pls help me whether your programmer is provide the any financial facility for ACCA student, and also any other courses related to finance, so its grater help to student if you facilitate more financial to other institute.
Best Regard,
Sandun Harshana
Dear Kalana,
My niece is sitting her local A’ Levels in the commerce medium this August.
Is it possible for her to register for CIMA Part I pending her results?
If so by when should she do so?
Also is CIMA Sri Lanka offering any scholarships?
My niece lost her father ( my brother) when she was 7 years – about 10 years ago. So I am quite keen to know about the availability of scholarships being offered.
Ask form the above banks for a loan.
Dear Sir, Madam,
Im a medical student, i want 10lakhs for complete my MBBS degree.Where shall i have a student loan?
DEAR SIR/MADAM
I AM A STUDENT PILOT AND NEED 25 LAKS TO COMPLEATE MY COMMERCIAL PILOT LICENSE EXAM.
CAN YOUR BANK HELP ME ON THIS MATTER.
BEST REGARDS
yup a can apply foa loan. Please contact personal loan section of Sampath Bank or NDB bank
dear sir/madam,
i want to take loan for master degree. and, i am working at the priovate company. i have a degree so i must fallow m.sc programme so, can i take a loan for my master degree? please if you can help by the loan. you have answer so please reply thanking you.