Press briefing of Cabinet Decision taken on 2023-07-10

Enrollment of the 07th intake under the Interest Free Student Loan Scheme

- Approval of the Cabinet has been granted at the meting held on 2023‑04‑24 to enroll the 07th intake under the Interest Free Student Loan Scheme, to follow degree courses in Non-State universities. The Bank of Ceylon and the Peoples' Bank have expressed their concurrence to implement this loan scheme with a minimum interest rate of 13% for the entire loan duration. Accordingly, the proposal made by the Minister of Education to implement the Interest Free Student Loan Scheme for the students who have fulfilled requisite qualifications from among the students selected to follow degree courses upon the GCE(A/L) results in the years of 2019, 2020 and 2021, under the 07th intake, was approved by the Cabinet.