The Cabinet of Ministers has approved the proposal presented by the Minister of Higher Education to implement the following recommendations submitted by the committee appointed to submit the recommendations in respect of revising the fees payable to the non-governmental higher education institutes for the relevant courses under the said loan scheme.
• To revise the course fee from the 8th stage of the interest free student loan scheme as per the recommendations of the technological consultative committee appointed by the Ministry of Education.
• To obtain the collaboration of the National Savings Bank in addition to the Bank of Ceylon and Peoples Bank for the above loan scheme so as to minimize the financial risk bearable to one bank.
• To Implement of the said loan scheme subject to the minimum loan interest rate of 13% and 06 months AWPLR+1% percentage having conducted annual review.
• To enroll 7000 students per stage from 8 stage of the student loan scheme.
