Interest free higher education loan scheme for 2016 G.C.E. A/L qualified students
In line with the Budget Proposals of 2017, the Government of Sri Lanka provides financial assistance to G.C.E Advanced Level qualified students through the Interest Free Higher Education Loan Scheme to ease off the financial constraints to tertiary education by providing income contingent interestfree loans. This proposed Interest Free Student Loan Scheme proposed in 2017 will be implemented in 2018 too.
This will be an excellent opportunity for students who obtained the G. C. E ( A/ L) qualifications with a minimum of three passes in 2016 to pursue higher education aspirations.
The eligibility criteria for 2018 enrolments through the Interest Free Higher Education Loan Scheme would be for students who qualify the G. C. E Advanced Level examination with three passes in 2016, and no such student has been previously enrolled to any state University in 2016/2017 round of academic year registra- tions conducted by the U.G.C.
Under this scheme, an INTEREST FREE loan amount of Rs 800,000.00 for tuition fees and a further stipend loan of Rs. 300,000.00 for transport and living expenses aggregating in total to a sum of Rs.1,100,000.00.This grant would be offered to all selected students for a 4 year (Honours) Degree program and the repayment plan is outlined herein below:
First four years of study (2018 -2022) – No repayment
First year after graduation (2023)– No repayment
6th year – 12th year (20242030)– Approximate monthly payment of Rs. 9523.80 ( for a loan amount of Rs 800,000.00)
Conducting of the Degree programs and awarding of degrees will be done by the Government approved Non
State Higher Education Institutes and the Degree programs offered under this scheme are targeted to cater to the demands of domestic and overseas employment markets. In addition, relevant State Banks will organizestudent friendly mechanisms for issuing these interest-free loans.The applicants are advised to submit their applications via on line system on(www.mohe.gov.lk).
During the year 2017 round of applications, Horizon Campus was selected as the most preferred Non State Higher Education Institute by many students who have already obtained loans under this scheme to pursue their higher studies.
The main reason for Horizon Campus to be the most preferred institute is the ever increasing national and international recognition for its students. Also, the Horizon Campus is a Non-State Higher Education Institute which is recognized by the Ministry of Higher Education as well as a listed member University of the Associat i o n o f Commonwe a l t h Universities.
In the 2018 round of applications, students have the option to select from 8 Professional Degree programs such as Bachelor of Science in Business Management ( HRM), Bachelor of Management Honours in Marketing, Bachelor of Science in Information Technology, Bachelor of Information Technology in Networking and Mobile Computing ( Honours), Bachelor of Education ( Honours), Bachelor of Education (Honours) in English, Bachelor of Education ( Honours) in Biological Sciences and Bachelor of Education (Honours) in Physical Sciences.
Further details , guidelines and online application assistance of this scheme could be obtained from the professional student advisors at Horizon Campus by calling 0711 174 174 or by visiting the Horizon Campus website for Student Loans Scheme http://horizoncampus.edu. lk/loan. In addition, students could obtain free service of online application assistanceto lodge their applications by visiting Horizon Campus Malabe or any of its Regional Study Centres located in Kandy, Kalutara, Matara, Ratnapura, Badulla, Anuradhapura and Negombo.