News
Weerawansa urges President to fast-track interest-free university student loan scheme
By Sanath Nanayakkare
National Freedom Front (NFF) Leader Wimal Weerawansa yesterday urged the Finance Minister and President Ranil Wickremesinghe to expedite the enrollment of students selected to enter non-state/private universities under the student loan scheme initiated by the Yahapalana government in 2017.
“As you are well aware, due to the limited
capacity of enrolling students to state universities, not all students who are eligible for university entrance in Sri Lanka get the opportunity. Against this backdrop, the interest-free loan scheme for selected students to enter private universities was introduced in 2017 while you were the prime minister of that administration.
Under this programme, five consecutive student groups are to be enrolled in private universities, however, the students selected by the Ministry of Higher Education to enter nominated private universities for the Academic Year 2021/2022, have not yet been registered.
The anxiously awaiting students are very concerned about this delay as years don’t wait for them and they can’t reverse the damage caused by it on their future,” Weerawansa stated writing a letter to the President on the matter.
“Providing the opportunity of enrollment to such students to private universities under the above interest-free student loan scheme would be a progressive measure because the capital we invest as a nation for tomorrow’s academic and professional excellence of our students would be a meaningful investment for the future.
“About 15,000 students who belong to this aspirant group are told by the Ministry of Higher Education that financial institutions including the Bank of Ceylon are citing the prevailing higher interest rates as a barrier to implementing this scheme as planned earlier. So I kindly request you to pay immediate attention to this matter as the finance minister and take appropriate action to resolve this issue and accelerate the registration process and intake of these students.”
Several students selected to enter private universities under this scheme told The Island that they were told by Higher Education Ministry authorities at a Zoom meeting that the state bank involved in the project is not willing to give out these loans at the previous rates (12%-13%) as current bank interest rates have exceeded 22% per annum. So we got the impression that either the government would have to give a fresh guarantee to the Bank of Ceylon (BOC) on the new interest payments or our parents would have to pay the increased part of the interest. Most of us are from low and middle income levels of the society, and therefore, it would be practically impossible for our parents to bear a significant share of the interest cost.”
According to the Higher Education Ministry’s website, the total interest-free loan period is 12 years. The repayment of the loan should be started after the study period and one-year grace period.
Prime Minister Dr. Harini Amarasuriya participated in a high-level dialogue titled “Tourism as Soft Power and Diplomatic Capital” held at the Euronews Hub, Piz Buin Davos, on the sidelines of the World Economic Forum on January 20.
The session explored how tourism functions as a strategic instrument of diplomacy by strengthening international trust, cultural exchange, and regional cooperation through mobility and people-to-people engagement. The Prime Minister shared the panel with Mr. Kuban Omiraliyev, Secretary General of the Organization of Turkic States and Mr. Meshari Alnahar – CEO Aseer Investment Company, Saudi Arabia.
Addressing global trends, the Prime Minister emphasized that Sri Lanka is an example of hope, recovery and resilience in a world of conflict demonstrating how tourism can play a critical role in a changing global environment particularly amid climate shocks, geopolitical instability, and uneven economic recovery. She noted that tourism is not only an economic sector but also a vital diplomatic bridge that supports livelihoods, builds relationships and connects people.
Drawing on Sri Lanka’s recent experience, she highlighted the country’s strong tourism recovery despite multiple crises, including the impact of Cyclone Ditwah. Transparent crisis management and strategic engagement with international partners helped sustain visitor confidence, resulting in record tourist arrivals even in challenging circumstances.
The Prime Minister also underscored the importance of green and climate friendly tourism infrastructure and underlined that Sri Lanka welcomes long term investment in tourism. She pointed out that tourism supports millions of jobs worldwide and that inclusive policies are essential to ensure fair opportunities, particularly for women and vulnerable communities.
[Prime Minister’s Media Division]
During an operation conducted in the dark hours of 20 Jan 26, the Sri Lanka Navy seized two (02) Indian fishing boats and apprehended seven (07) Indian fishermen while they were poaching in Sri Lankan waters, off Kovilan, Jaffna.
The seized boats and Indian fishermen was to be handed over to the Fisheries Inspector of Myliddy, Jaffna for onward legal proceedings.
Prime Minister Dr. Harini Amarasuriya participated in a series of high-level bilateral meetings on January 20 on the sidelines of the 56th Annual Meeting of the World Economic Forum in Davos-Klosters, Switzerland.
The Prime Minister attended a productive bilateral meeting with Mr. Jozef Síkela, European Commissioner for International Partnerships. During the discussion, both sides focused on strengthening Sri Lanka–EU cooperation and advancing mutual interests.
Prime Minister Amarasuriya also met with Mr. Masato Kanda, President and Chairperson of the Board of Directors of the Asian Development Bank (ADB), at the WEF Congress Centre. The meeting provided an opportunity to discuss ongoing engagement and future collaboration between Sri Lanka and the ADB.
In addition, the Prime Minister held discussions with Mr. Hassan El Houry, Chairman of Menzies Aviation, where opportunities for collaboration in aviation services and connectivity were explored.
The Prime Minister also participated in a high-level dialogue at the Global Tourism Forum held at the Euronews Hub, Piz Buin, Davos, as part of the World Economic Forum engagements.
Dr. Anil Jayantha, Minister of Labour, and the Deputy Minister of Finance were also present at these meetings.
[Prime Minister’s Media Division]
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