Financial Aid · Student Loans
Student
Loans
Every bank and scheme offering education loans to Sri Lankans — researched, compared and linked. From 0% government schemes to private bank products and overseas financing.
Government Scheme
Start here — always check this first
Ministry of Higher Education
Interest-Free Student Loan Scheme (IFSLS)
Max Amount
Full tuition + Rs. 300,000 stipend
Interest
0% — Government pays on your behalf
Repayment
12 years
Grace Period
During studies + after graduation
State Banks
BOC · People's Bank · NSB
Bank of Ceylon
BOC Education Loan
Max Amount
Up to Rs. 10,000,000 (80% of course fee)
Interest
AWPLR + 3.0% (≤5 yrs) / AWPLR + 3.5% (≤7 yrs)
Repayment
Up to 7 years
Grace Period
During study period
People's Bank
Education Loan (Wisdom Scheme)
Max Amount
Competitive — contact branch
Interest
Competitive variable rate (AWPLR-linked)
Repayment
Flexible
Grace Period
During study period
National Savings Bank (NSB)
NSB Buddhi Education Loan
Max Amount
Up to Rs. 5,000,000
Interest
Competitive (AWPLR-linked) — 0% under govt. scheme
Repayment
Up to 10 years
Grace Period
Up to 4 years (during study + 1 yr after)
Private Banks
ComBank · Sampath · HNB · DFCC · Seylan
Commercial Bank
Commercial Bank Education Loan
Max Amount
75% of total course fee (incl. exam charges)
Interest
Competitive — contact bank for current rate
Repayment
Flexible
Grace Period
During study period
Sampath Bank
Study Smart Education Loan
Max Amount
Rs. 250,000 – Rs. 10,000,000
Interest
12.00% p.a. (fixed, as of June 2026)
Repayment
8 years
Grace Period
3 years
Hatton National Bank (HNB)
HNB FUTUR+ Education Loan
Max Amount
Rs. 100,000 – Rs. 20,000,000
Interest
Competitive — contact HNB for current rate
Repayment
Up to 12 years
Grace Period
4.5 years (interest-only period)
DFCC Bank
DFCC Education Loan
Max Amount
Based on repayment capacity
Interest
Fixed or variable (your choice)
Repayment
Up to 7 years
Grace Period
2 years
Seylan Bank
Seylan Scholar Loan
Max Amount
Based on eligibility
Interest
Competitive — contact Seylan
Repayment
Flexible
Grace Period
During study period
Overseas Specialist
US & Canada — no Sri Lankan property needed
MPOWER Financing
International Student Loan (US & Canada)
Max Amount
US$2,001 – US$100,000 per academic period
Interest
From 9.99% fixed (10.89% APR)
Repayment
Fixed monthly — starts after graduation
Grace Period
During studies + 6 months after
For UK, Australia and other destinations, Sri Lankan banks (BOC, HNB, ComBank, Sampath) all cover overseas study — Exchange Control Department approval is also required.
Compare Loans
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Before You Apply
5 Things to Know
Check the government IFSLS first — it's 0% interest and available to A/L students who didn't enter a state university.
Get a formal offer letter from your institution before applying — most banks require it to assess the loan.
Compare the total repayment cost (not just the interest rate) — a longer grace period can mean a higher total cost.
State bank loans (BOC, People's, NSB) typically have lower rates than private banks — start there.
For US/Canada study without Sri Lankan property, MPOWER Financing is the only no-collateral option.