NSB added to Govt.’s interest-free student loan scheme

Thursday, 12 March 2026 04:54 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers has approved including the National Savings Bank (NSB) as a lending institution under the government’s Interest-Free Loan Scheme for students.

The scheme, previously facilitated by People’s Bank and Bank of Ceylon, provides loans for students pursuing Government-recognised degree programs at non-governmental higher education institutions, specifically for those who have passed the General Certificate of Education (Advanced Level) Examination, but did not qualify for admission to a State university. Under Stage 10 of the scheme, the Government plans to provide financial assistance to 7,000 students, expanding access to higher education and supporting students in continuing their studies at private institutions without incurring interest costs.

The proposal to this effect was submitted by Prime Minister Dr. Harini Amarasuriya, in her capacity as the Education, Higher Education, and Vocational Education Minister.