Sri Lanka offers interest-free loan for students
Sri Lankan students who have sat university entrance examinations from 2019 to 2021 and want to study in private institutions can apply for an interest-free loan scheme.
A senior official said on Monday that the application portal will open from Tuesday to Friday.
State Minister of Finance Ranjith Siyambalapitiya said in Colombo that the government plans to select 5,000 students for the loan scheme.
The minister said the students selected need to follow job-oriented courses, adding that the interest-free loan, provided by state-owned banks, is up to 1.1 million rupees (US$3,400) for each student.
According to the Ministry of Education, over 331,700 students sat university entrance examinations in 2023, and only about 30,000 students can enter state-owned universities.
(Xinhua/NAN)
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