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Thursday, February 14, 2013

Loans for Sri Lankan university students

The Sri Lankan government is taking measures to provide loans and financial assistance to the university students entering the universities for higher education.
Minister of Higher Education S.B. Dissanayeke states that loan facilities for students receiving higher education would be provided in future without placing property or persons as guarantee.
The government says students entering universities from low income families currently receive financial assistance through University bursaries or through the Mahapola Scholarship Fund but those funds are inadequate for their academic activities and professional courses.
Also they face numerous difficulties in obtaining bank Loans for their higher educational needs.
To alleviate the problem, Minister of Higher Education S.B. Dissanayake has proposed a new act called Human Capital Development Finance Act to provide bank loans to the needy students.
Under the proposed measure, the students from low-income families could obtain loans from banks for their academic activities.
Once they are employed after graduation, the students are mandatory required to pay back the loans through their prospective employers from their monthly salaries.
Speaking during a media briefing held today (February 14)Minister S B Dissanayeke said that a new bill called Human Capital Development Finance in this regard would be presented before parliament during the course of the next month.