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Press briefing of Cabinet Decision taken on 2017-04-04
Interest Free Loans to students to follow the Degree Programmes in the Non-Governmental Degree Awarding Institutions
- In the Budget proposals of 2017, the Ministry of Higher Education and Highways had proposed to initiate an interest free loan facility subject to a maximum of Rs.800,000/- to follow the Degree Programmes offered by the recognized Non-Governmental Degree Awarding Institutions, for the students who fall short of the cut-off marks adequate for entering the universities. This will facilitate the youth with an enhanced opportunity to further their higher education and also to meet the demand in certain sectors of the labour market.

Accordingly, the proposal made by Hon. Ranil Wickramasinghe, the Prime Minister in his capacity as the Minister of National Policies and Economic Affairs, as the first step, to select the students for the purpose based on the Z-scores obtained at the A/Level examinations conducted in the year 2014 and 2015 and to implement the first step in collaboration with the National School of Business Management (NSBM) where the necessary infrastructure facilities are adequately available, was approved by the Cabinet.