Press briefing of Cabinet Decision taken on 2020-01-02

Expanding of opportunities to enroll in the Interest Free Student Loan Scheme granted for students to pursue Degree Programmes at the Non Governmental Higher Education Institutes

- Although an Interest Free Student Loan Scheme is in existence at present, in order to follow the Government recognized degree programmes at the Non‑Governmental Higher Education Institutes, it has not been possible to attract students as anticipated. Specially due to the non‑availability of a sufficient demand in the job market for the courses selected under the said programme and as such degree programmes do not make an adequate contribution towards the economic development of the country, the said loan scheme has to be redesigned in a more productive manner. Accordingly, the proposal made by the Minister of Higher Education, Technology and Innovation to further expand and implement the Interest Free Student Loan Scheme to enable to make 10,000 graduates competent in technology for the job opportunities available in the fields of information technology and technology, in conformity with the five year development strategic policy framework 'Vistas of Prosperity and Splendour', was approved by the Cabinet.