How to Apply for a Student Loan in Sri Lanka

How to Apply for a Student Loan in Sri Lanka. A student loan is a type of loan designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other types of loans in the fact that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in school. It also differs in many countries in the strict laws regulating renegotiating and bankruptcy. This article highlights the differences of the student loan system in several major countries.

Steps to Apply for a Student Loan in Sri Lanka

Visit a Bank of your choice and discuss your requirement with an Bank officer.
He will guide you through the loan application process.
Please fill a Personal Loan application form and hand over to the branch with the required documentation.
Remember to take your national identity card, driving license or passport. This is necessary for us to identify you.

Required Documents

Letter from the Governing Body confirming the studentship
Recent salary slip or documents evidencing your income
Letter of undertaking from the employer to remit your salary to a Bank account
Copy of a recent utility bill showing your name and address
Application forms may vary for each Agency / Bank.

Eligibility to Apply for a Student Loan in Sri Lanka

Students below 18 years of age following academic studies at local and international schools.
Students who are following professional study programmes at local educational institutes such as CIMA, CIM, ACCA, CFA, AAT & CA etc.
Students following foreign undergraduate and post graduate degree programmes at Local Higher Education Institutes in the areas such as Medicine, Engineering, Accountancy, Hospitality Trade, IT, Business Management, Law etc.
Students seeking foreign university placements in various fields as mentioned under point 3 above through local agents/institutes.