Student Loan Scheme Sri Lanka

Government Interest Free Students Loans Scheme Sri Lanka

Interest free loan scheme has been introduced by the government to expand higher education opportunities for the students who are unable to secure a placement in state universities although they have qualified with GCE(Advanced Level) Examination to achive their higher education aspirations.

Loan Amount

Maximum Rs. 800,00/- +(RS. 300,000/-)

Minimum Qualifications for Admission

At least Simple (S) passes in A/L 2019, 2020 or 2021(2022) for all 3 Subjects in one and same sitting and not exceeding three sittings
AND minimum of 30 marks for Common General Test

How to Apply

Qualified applicants should submit their applications using the web portal Please read the Student Guide Book for more details available in the above web portal

Online Applications can be submitted from 04th July, 2023 to 12.00 p.m. on 7th August, 2023.

Student Guide Book

Download Student Guide Book (Sinhala) | (English) | (Tamil)

Non-state Higher Education Institute list in Interest Free Students Loan Scheme available degree courses

Sri Lanka Institute of Information Technology - SLIIT
National School of Business Management - NSBM
CINEC Campus
Horizon Campus
Kaatsu International University - KIU
Institute of Chartered Accountants of Sri Lanka - ICASL
Sri Lanka Technological Campus - SLTC
Saegis Campus
Sri Lanka Institute of Buddhist Academy - SIBA
Esoft Metro Campus (Pvt) Ltd. - ESOFT
Aquinas College of Higher Studies - AQUINAS
Institute of Chemistry Ceylon - ICHEM
International College of Business Technology – ICBT
Benadict XVI Catholic Institute - BCI
Royal Institute Colombo (Pvt) Ltd. - RIC
Nagananda International Institute of Buddhist Studies – NIIBS

Repayment Period

Loan payment period is 8/7 years after completing the degree of 3/4 years respectively and additional one year grace period.
Any payment should not be made during the study period and one year grace period.

For more details : +94 011 287 9724 OR 1919 | Website

We will assist your quest for excellence by perusing higher education for yourself or your children. Education Loans from Commercial Bank will finance the course fee inclusive of examination charges pertaining to local or overseas education.

Benefits of Education Loans
  • Loans available for both local and foreign education.
  • Competitive pricing.
  • Loans will be directly disbursed to the educational institution as per the fee structure.
  • Faster approval.

If you are a student registered with an education course provider, you can apply for a Education Loan.

Non employed applicants :

You can apply jointly with your parent, guardian or spouse who is eligible as a co borrower.You should be above the age of 18 years.

Employed applicants :

Permanent employees of a reputed company with a minimum monthly salary of Rs. 30,000/- (Basic Salary+ Fixed Allowances) and a minimum service of 01 year in the current employment can apply under this category. You should be between 18 to 55 years of age.

Self employed professionals :

Professionally qualified individuals employed in their chosen field of profession with a minimum monthly salary of Rs. 50,000/-. You should be between 18 to 60 years of age

Loan amount

You can get a loan up to 75% of the total course fee (inclusive of Examination Charges).
Maximum loan amount - Rs. 5,000,000/-
Minimum loan amount - Rs. 100,000/-

Documents required
  • Completed Loan application form.
  • Letter from Education provider confirming the studentship, the Course Fee Schedule and Course Duration from the education provider.
  • Recent salary slips or documents detailing the income of the Borrower/Co-Borrower.
  • Letter of undertaking from the employer to remit the applicant's salary to the Commercial Bank Account- (Applicable only if Student/co-borrower is employed).
  • Evidence of Permanent Residence (Utility bills, Bank Statements etc.).
Disbursement of the loan

Your loan will be disbursed on staggered basis, based on the Course fee schedule, directly to the education institute.

Repayment period

Maximum repayment period will be 8 years. You have the option of choosing equated monthly instalments or reducing balance instalment method.

Interest rate applicable for Education Loans will be the Fixed Interest rate throughout the loan period.

Interest rate for each loan amount disbursed according to the payment schedule of the educational institute, will be based on the Interest rate prevailing at the point of disbursement .


Loans upto Rs. 500,000/- - One personal guarantor
Loans of Rs. 500,000/- and above - Property mortgage
Loans for overseas education - Property mortgage

For more details : +94 11 2353353 | Website

BOC Comprehensive Educational Loan Scheme
  • BOC Educational loans provide the financial support you need to achieve your higher educational achievements at local or foreign universities
  • Option of paying only the interest until the degree is complete
  • Receive the maximum loan amount necessary for your requirements
  • Speedy service
  • No hidden costs
Loan Amount

Maximum Rs:4.0 Mn.


BOC Customers, Students with minimum of 03 passes for G.C.E (A/L)
Students with minimum of 3 passes for G.C.E. (A/L) for degree courses
should be an employee to follow Post Graduate Examinations & other Diplomas relevant to the existing job
Educational institutes, universities (Local/foreign) and courses offered by them should be approved by the University Grant Commission of Sri Lanka.

Repayment Period

Maximum of 7 years with 04 years grace period


Mortgage over property for facilities over Rs: 500,000/=

Financing the

Registration fees Course fees Examination fees Payments for travel expenses can be considered for Foreign Universities

Documents Required

Loan Application
Letter from University
Proof of identification (NIC/Passport)

For more details : +94 112204444 | Website

NSB Buddhi helps you to pursue higher studies in Sri Lanka or overseas and to excel in your chosen career path. NSB Buddhi offers a host of benefits including:

  • An unparalleled grace period
  • Up to 10 year repayment period
  • An attractive interest rate
Who can obtain a NSB Buddhi Loan?

Any Sri Lankan Citizen:

Between 18 to 50 years of age
Enrolled for a higher education course at a local or foreign university/college/academy or any other higher educational or professional institute, and

  • if employed, can apply for the facility independently
  • if unemployed, can apply for the loan jointly with the parents or a guardian

What is the quantum of loan that can be obtained?

Loan facility is based upon your:

  • Nature and fee of the educational course undertaken
  • Repayment capacity
  • Value of the Collateral
  • Age

For more details : +94 11 2 379 379 | Website

  • Attractive Interest rate
  • Age Limit 18 – 55 Years
  • No Guarantors (Upto 1.5 Mn)
  • Up to 100% of the Course fee can be funded
  • No early- Settlement fees
  • Loan Repayment period up to 5 years (max. grace period of 2 Years) and for 7 years (max. Grace period of 4 Years)
  • The loan will be jointly granted with an immediate family member or guardian subject to the eligibility criteria and who has the capacity to honor the monthly commitments (Installments)
  • Loan can be released in semester wise or as a full payment to the university

For more details : +94 0 112 462 462 | Website

We understand that ensuring quality higher education is one of the most important things we can do for our future generation. The Wisdom loan scheme is designed to support the youth of our nation as they strive towards fulfilling their dreams. The loan offers up to Rs.10 Million, to complete higher studies, vocational education, or to obtain a professional qualification in a local/ foreign university or institute.

  • Securities - upto rs. 500,000 - Personal Guarantees
  • Repayment period: upto 7 Years
  • Interest rate 13.5%-14.5%

For more details : +94 0 11 2 481 481 | Website

Maximize the usage of your account:

  • Loans granted up to 10 Mn and minimum amount will be Rs. 100,000/-
  • Repayment period up to 7 years.
  • Joint Loans available with Parents / Spouse.
  • Can borrow from the Islandwide branch network spanning to 156 locations.
  • Local education such as CIMA, CIM, SLIM, IPM, AAT, Fashion Degrees & MBA.
  • Overseas education – Parents who want to educate their children and professionals who want to pursue foreign degrees will be with course fees, living expenses and accommodation.
Eligible Persons:
  • Parents / Guardians of students those seek local / Overseas Education.
  • Working Professional's with confirmed service
  • Professionals such as Doctors, Lawyers, Engineers, Accountants etc.
  • Self employed persons with a regular income
Documents required
  • Applicant's income details with pay slips
  • Bank Account Statements / Savings Book
  • University / Institute offer Letter with course details / Cost Details.
  • Guarantor's income details and Bank Statements or Property Deed / Survey Plan

For more details : +94 0 11 2 008 888 | Website

our commitment to your studies should not be diluted by financial worries

  • Pursue your higher education in any field or profession of your choice, without the burden of worrying about financial matters
  • Pay only the interest portion while you study and pay off the loan capital once you complete the program
Key Features:
  • Quick and hassle free service
  • Flexible repayment tenure up to 8 years
  • No security needed
  • Loans upto 75% of the course fee
Who can apply?
  • Parents of students who seek higher education
  • Employed individual seeking higher education assistance
Age Criteria:
  • 18 years to 60 years
What you’ll need:
  • Identification documents - NIC or Valid Passport
  • Letter from employer confirming the employment details
  • Latest certified pay slip
  • Offer letter from the education Institute
  • Copies of the last 3 months bank statement

For more details : +94 11 244 8888 | Website

Our DFCC Nenasa Educational Loan offers financial assistance to fulfill your academic aspirations, efficiently and affordably, with a loan approval process that is swift and available via branches of DFCC Bank across the island.

  • Loan will be extended for both Undergraduate and Postgraduate studies,
  • Attractive rate of interest that is budget-friendly,
  • Loans can be applied for individually or jointly with parents/spouse
  • Maximum repayment period of 10 years,

For more details : +94 011 2 350 000 | Website


Don’t let registration fees, tuition fees, exam fees, boarding fees and air travel expenses get in the way of your dreams for higher education. The ‘Pragathi’ educational loan scheme is specially designed to support your needs.Pay a small amount while you study and settle the rest once you start working Rs. 15,000 a month for a loan of Rs. 1 million

  • Maximum loan amounts with flexible payment plans
  • Availability of joint loans with parents or spouse
  • Island-wide branch network for easy accessibility
  • Applicable for local courses extending to SLIIT, NSBM, CIMA, CIM, SLIM, IPM, AAT, FASHION DEGREES and MBAs
  • Foreign degrees – for parents who dream of higher studies for their children and for those who seek
  • professional qualifications to further their careers
  • For job opportunities after obtaining your degree, please forward your application to

For more details : +94 0112 200 200 | Website

Aspire Educational Loans

An ideal solution for parents seeking to finance their children’s higher education and for employed professionals who wish to pursue higher education including professional studies.

  • Parents & Siblings can apply for the loan
  • If the student is over 18 years of age, he/she should be included as a co-borrower
  • One year grace period on a case by case basis
Loans can be considered for the following purposes:Br/>
  • Enrollment and course fees
  • Registration and exam fees
  • University examination fees and accommodation
  • For child’s school admission fees (not less than Rs150,000, age limit does not apply)
  • Purchasing a Laptop or a Desktop computer (Maximum of Rs100,000) together with an education loan
Category A – Parents & siblings who wish to spend on their child’s/sibling’s education

Loans granted for all recognized Degrees in UGC approved private/semi government local universities and foreign universities (based in Sri Lanka & abroad) and recognized professional examinations.

Category B – Sri Lankan individuals who wish to complete recognized professional exams

Loans granted to individuals who wish to complete recognized professionals exams, UGC approved Degrees, Masters and PhD programmes

For more details : +94 011 4 667 222 | Website

HSBC Lifestyle Education Loan

You may find that a good education can be very expensive to obtain, making you think that the pursuit of higher studies is simply out of reach for you or your child. Our Lifestyle Education Loan will help you or your child reach new heights and go places.

Benefits of an Education Loan
  • No security or personal guarantors required
  • Loan amount up to a maximum of LKR2,500,000
  • Application made jointly with the child (student)
  • Option of repaying the loan based on a reducing balance or an equal installment scheme
  • Flexibility to choose a repayment period of up to 5 years (60 installments)
  • Choice of both fixed and floating rate interest rate options
  • Freedom of making a joint application (spouse only) provided the joint applicant earns the minimum remuneration as specified below
Eligibility criteria for an Education Loan

You're eligible to apply for a Lifestyle Education Loan from HSBC if you are:

  • between 18 and 55 years of age
  • employed in an established company
  • currently employed in a confirmed post
  • earning a net remuneration of LKR20,000 (with a minimum basic salary of LKR15,000) excluding vehicle allowance, if you are an existing HSBC customer
  • earning a net remuneration of LKR30,000 (with a minimum basic salary of LKR25,000) excluding vehicle allowance, if you are a non-HSBC customer
Required documents

You can make an application for a Lifestyle Education Loan by submitting the following:

  • a duly completed Lifestyle Loan application — see below —and promissory note
  • a copy of NIC
  • a letter from employer confirming employee details (as per the application specimen)
  • a set of Bank statements and pay slips for the last three months
  • a copy of a recent utility bill (only for non existing HSBC customers)
  • the birth certificate of the child (student)
  • a letter from the educational institution/college confirming the fees

For more details : +94 (0)11 2 511 533| Website