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Home » » Student Loans in Sri Lanka: Complete Guide for 2025

Student Loans in Sri Lanka: Complete Guide for 2025


Pursuing higher education in Sri Lanka is a significant milestone, but the financial burden can be a challenge for many students and their families. In 2025, various student loan schemes have been introduced to alleviate this burden, offering opportunities for both local and international studies. This comprehensive guide explores the available student loan options in Sri Lanka, focusing on their features, eligibility criteria, application processes, and repayment terms.

1. Interest-Free Student Loan Scheme (IFSLS)

The IFSLS, implemented by the Ministry of Education, provides interest-free loans to Sri Lankan students who have passed the G.C.E. Advanced Level Examination. This initiative aims to support students pursuing higher education at approved non-state higher education institutions.

  • Loan Amounts: Varies by degree program; for instance, engineering degrees are eligible for up to LKR 1.5 million.

  • Eligibility: Students must have obtained simple passes in all subjects in one sitting and meet the minimum marks for the Common General Test.

  • Repayment: Loans are repaid semester-wise, with payments made directly to the educational institutions.

  • Guarantors: Applicants are required to provide two guarantors, typically a parent or guardian and another individual with acceptable income.

2. HDFC Education Loan

HDFC offers education loans to assist students in pursuing higher education both locally and internationally.

  • Loan Amounts: Up to LKR 10 million, covering tuition fees, accommodation, and other related expenses.

  • Eligibility: Available to employed students aged 18 and above, as well as parents or guardians of students.

  • Repayment: Loans are repaid in equal monthly installments over a period of up to 10 years.

  • Interest Rates: Competitive rates with flexible terms.

3. Seylan Scholar Education Loan

Seylan Bank provides education loans under the Scholar Education Loan scheme, catering to both local and foreign education needs.

  • Loan Amounts: Loans range from LKR 100,000 to LKR 10 million.

  • Eligibility: Available to parents, guardians, working professionals, and self-employed individuals with a regular income.

  • Repayment: Flexible repayment terms up to 7 years.

  • Special Features: Loans cover course fees, living expenses, and accommodation for overseas education.

4. DFCC Bank Global Education Loan

DFCC Bank offers a fully funded education loan program in partnership with ACH Education, aimed at supporting Sri Lankan students pursuing studies abroad.

  • Loan Amounts: Up to LKR 10 million, covering tuition, accommodation, travel, and other essential costs.

  • Eligibility: Open to students accepted into recognized international educational institutions.

  • Repayment: Structured repayment plans with competitive interest rates.

  • Additional Benefits: Tailored financial solutions to meet the needs of students studying abroad.

5. Ceylon Lanka Knowledge Hub (CLKH) Interest-Free Loan Scheme

CLKH offers an interest-free loan scheme for students pursuing higher education at approved non-state institutions.

  • Loan Amounts: Varies by degree program; for example, engineering degrees are eligible for up to LKR 800,000.

  • Eligibility: Students must have passed the G.C.E. Advanced Level Examination and meet specific criteria set by the Ministry of Education.

  • Repayment: Loans are repaid semester-wise, with payments made directly to the educational institutions.

  • Guarantors: Applicants are required to provide two guarantors.

6. Bank of Ceylon (BOC) Student-Friendly Loan Scheme

In collaboration with Edith Cowan University Sri Lanka, BOC has introduced a student-friendly loan scheme to support students pursuing international education.

  • Loan Amounts: Tailored to meet the financial needs of students studying abroad.

  • Eligibility: Available to students enrolled in programs offered by Edith Cowan University Sri Lanka.

  • Repayment: Flexible repayment options to accommodate students' financial situations.

  • Additional Features: Dedicated support for students throughout their academic journey.

Application Process for Student Loans in Sri Lanka

  1. Research: Identify the loan scheme that best fits your educational goals and financial needs.

  2. Prepare Documents: Gather necessary documents such as academic transcripts, proof of admission, income statements, and identification.

  3. Submit Application: Complete the application form provided by the respective bank or institution.

  4. Await Approval: The financial institution will review your application and inform you of the approval status.

  5. Disbursement: Upon approval, the loan amount will be disbursed as per the terms agreed upon.

Repayment Terms and Conditions

  • Grace Period: Many loan schemes offer a grace period, allowing students to begin repayment after completing their studies.

  • Repayment Plans: Flexible repayment plans are available, with terms ranging from 5 to 10 years.

  • Interest Rates: Interest rates vary depending on the loan scheme and financial institution.

  • Guarantors: Most loan schemes require the applicant to provide one or more guarantors.

In 2025, Sri Lanka offers a diverse range of student loan schemes to support individuals pursuing higher education. Whether you're aiming for local or international studies

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