Interest Free Student Loan Scheme 2026 – Ministry of Education

Interest Free Student Loan Scheme 2026 – Ministry of Education

What is the Interest-Free Student Loan Scheme?

The Interest-Free Student Loan Scheme (IFSLS) is a Government-supported loan scheme introduced to provide eligible students with an opportunity to pursue higher education through selected degree programmes at approved non-state higher education institutes.

Under this scheme, the interest on the student loan is borne by the Government.

Students can complete their selected degree programme and repay the loan after the study period and an additional grace period.

Who Can Apply?

Students who sat the G.C.E. A/L Examination in 2023, 2024 or 2025 may apply for the 11th intake, subject to the eligibility and selection criteria specified under the scheme.

Applicants must also meet the relevant entry requirements for the degree programme they select.

Basic Eligibility Requirements

Applicants should meet the following minimum requirements:

• Have obtained at least three “S” passes for all three subjects at the G.C.E. Advanced Level Examination in 2023, 2024 or 2025.
• Have obtained a minimum of 30 marks for the Common General Test.
• Have obtained at least an “S” pass in English at either the G.C.E. A/L or G.C.E. O/L Examination.
• Should not be over 25 years of age as at the application closing date (27 September 2026).

125+ Degree Programmes

The 11th Intake offers more than 125 degree programmes through approved higher education institutes.

The programmes cover a range of fields, including:

• Management and Commerce
• Information and Communication Technology
• Science
• Engineering and Technology
• Humanities and Social Sciences
• Other approved study areas

List of Higher Education Institutes Participating under IFSLS

1. Sri Lanka Institute of Information Technology (SLIIT)
2. National School of Business Management (NSBM)
3. CINEC Campus
4. Sri Lanka Institute of Buddhist Academy (SIBA)
5. Institute of Chartered Accountants of Sri Lanka (ICASL)
6. Horizon Campus
7. KIU Campus
8. Sri Lanka Technology Campus – SLTC
9. SAEGIS Campus
10. Esoft Uni – ESOFT
11. Institute of Chemistry Ceylon (ICHEM)
12. International College of Business Technology (ICBT)
13. Benedict XVI Catholic Institute (BCI Campus)
14. Nagananda International Institute of Buddhist Studies (NIIBS)
15. Business Management School – BMS
16. The Lyceum Campus – LYC

Loan Amount

A maximum loan amount of Rs. 1,500,000 is available under the scheme, subject to the conditions applicable to the selected degree programme.

The loan is provided to support eligible students in completing their approved degree programme.

Loan Repayment

• Total Loan Period: 12 years
• Interest: Borne by the Government
• Repayment Begins: After completion of the degree programme plus an additional 1-year grace period
• 3-Year Degree Programmes: Repayment in 84 equal monthly instalments
• 4-Year Degree Programmes: Repayment in 96 equal monthly instalments

Student Handbook – What You Can Find

The official IFSLS Student Handbook provides the detailed information students need before applying for the 11th Intake.

It includes:

• 125+ available degree programmes
• Names of the participating Higher Education Institutes
• Entry qualifications for each degree programme
• Required G.C.E. A/L subject combinations
• Minimum results/grades required for individual programmes
• Duration of each degree programme
• Medium of instruction – all programmes are conducted in English
• Details of the degree programmes offered by each institute
• Information needed to select a suitable degree programme
• Other important conditions and requirements of the IFSLS

More Details

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