Student loans help students to pay tuition, books and living expenses for local or oversees education.
If you are one of the lucky ones selected for a National University then you do not have to pay any tuition fees and you are even eligible to get Mahapola scholarships and Bursaries for other expenses.
However if you apply for a private national or overseas degree course or international professional exams and postgraduate studies then then you have to pay for tuition fees, airfare, textbooks & other equipment, overseas accommodation, living expenses and examination fees. To cover these expenses without burdening your parents you can apply for various loan schemes offered by Sri Lankan banks, and even Parents can apply for these loans.
Interest Free Government Student Loans to follow Private Degrees
Now you can get an educational loan of Rs. 800,000 from the government to follow Private degree in a Private Higher Educational Institution (Private Campus).
It is an Interest Free Loan, granted to the students who have qualified in G.C.E (A/L) but have not been selected to a State University based on the Z-score to follow a Degree offered by Non-State Higher Education Institutes. recognized by the Ministry of Higher Education and Highways/ University Grants Commission.
Check details here.
Interest Free Student Loans to follow Private Degrees
Student loan systems offered by Sri Lankan Banks.
Selylan Bank – Seylan Scholar
The loan scheme will fund Overseas Education and Local Education (Eg CIMA, CIM, SLIM, IPM, IIT & MBA)
Maximum loan of LKR 7.5 Million, repayment up to 7 years.
https://www.seylan.lk/seylan-scholar.html (accessed 2018)
HNB (Hatton National Bank) Educational Loans
HNB provides three types of loans: (1) School/tuition fees, (2) Higher studies, (3) Career Development
Loans upto Rs 300,000/-
BOC (Bank of Ceylon) Educational Loans
Peoples Bank Educational Loans
Facilities are considered for your local or foreign education needs to cover university fees, living and medical expenses, based on repayment ability, requirement and security offered.
Commercial Bank Educational Loans
Student preparing for a professional examination or a parent or guardian of such student can apply.
Loans upto Rs. Rs 3,000,000/-
http://www.combank.net/newweb/en/personal/loans/education-loans (accessed 2018)
Educational Loans from NDB Bank
Funding for your local and foreign educational needs.
Loan amounts will range from Rs.100,000/- upwards, depending on your repayment capacity.
DFCC Vardhana Bank Nenasa Educational Loans
A loan scheme for both Undergraduate and Postgraduate Studies
Loan amount determined by the loan Installment that you can pay based on your budget.
HSBC Sri Lanka Lifestyle Education Loans
You can apply if you are currently employed in a confirmed post.
Loans upto Rs. 2,500,000
http://www.hsbc.lk/1/2/personal/lifestyle-loans/education-loan (accessed 2018)
Parents or guardians who wish to send their children overseas to study or students pursuing professional courses can apply.
Sampath Bank PIM loans
They provide loans to students follow MBA Programmes at the Postgraduate Institute of Management (PIM) affiliated to the University of Sri Jayewardenepura.
Loan for Specific Courses:
This Educational Student Loan Programme facilitates are also available for courses 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).