Student
Loans

Sri Lanka offers several education loan options: (1) IFSLS — the government's 0% interest student loan scheme for qualified state university students, covering up to LKR 600,000 for local degrees and LKR 2M for overseas. (2) Bank of Ceylon Vidya Jyothi — up to LKR 2.5M at competitive rates. (3) People's Bank Adhyapana — covers tuition, books, and living costs. (4) NSB Buddhi Loan — up to LKR 1.5M. (5) HNB FUTUR+ — for professional qualifications like CIMA, ACCA, MBA. (6) Sampath Study Smart — includes overseas study options. All require a guarantor and proof of admission.

The IFSLS (Interest Free Student Loan Scheme) is managed by the Ministry of Education and administered through Bank of Ceylon, People's Bank, and NSB. To apply: (1) Get your university admission letter from a UGC-approved state university, (2) Fill the IFSLS application form (available at the bank or ministry), (3) Submit with income declaration, guarantor documents, and admission proof. Repayment starts 12 months after graduation with a 10-year repayment period. The scheme is income-tested — students from lower-income families are prioritised.

Yes. Several banks offer education loans for professional qualifications in Sri Lanka: HNB FUTUR+ specifically covers ACCA, CIMA, CA, CIM, and other professional bodies. Sampath Study Smart and BOC also finance professional qualifications. For MBA, DFCC and ComBank education loans cover postgraduate degrees. Loans typically cover exam fees, tuition at approved study centres, and exam registration with repayment periods of 3–7 years. Approval rates are higher if you have employment income or a stable guarantor.

Student loan interest rates in Sri Lanka vary by bank and scheme: IFSLS government scheme — 0% (interest-free for qualifying state university students). Bank of Ceylon Vidya Jyothi — approximately 8–10% per annum. People's Bank Adhyapana — 9–11% per annum. NSB Buddhi Loan — 9–10% per annum. HNB FUTUR+ — 10–12% per annum. Sampath Study Smart — 11–13% per annum. Rates may change — always confirm with the bank at the time of application. Some banks offer a grace period during the study period where only interest is paid.

Yes. Several Sri Lankan banks finance overseas education: NSB Education Loan covers overseas degrees up to LKR 5M. Sampath Study Smart includes an overseas option with up to LKR 10M. DFCC and ComBank offer foreign education loans linked to university acceptance letters. The IFSLS government scheme also has a foreign scholarship component for top state university students. Repayment typically begins after graduation and requires collateral for larger amounts (typically property or fixed deposits).