Press briefing of Cabinet Decision taken on 2011-03-30

An Act to provide financial assistance for Higher Education

- at present students entering Universities from lower income families are provided financial assistance through University bursaries or through the Mahapola Scholarship Fund. It has been observed that funds received by students through these Schemes are inadequate for their academic activities and also that they are encountered with difficulties in obtaining Bank Loans for the purpose. On a proposal made by Hon. S.B. Dissasnayake, Minister of Higher Education, Cabinet approval was granted to instruct the Legal Draftsman to draft a Bill for the purpose, whereby students from poor families entering Universities could obtain loans from Banks for their academic activities, to be repaid compulsorily through their prospective employers from their monthly salaries, once they get employed after passing out from Universities.