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.
The Indonesian Naval Ship, ‘KRI SULTAN ISKANDAR MUDA – 367’, arrived at the port of Colombo today (22 Jan 26) on a scheduled port call for logistics replenishment and a goodwill mission.
In keeping with time-honored naval tradition the ship was accorded a ceremonial welcome upon arrival.
The 90.71m – long Sigma Corvette FS is commanded by Commander Annugerah Anurullah.
During the stay in Colombo, the crew members of the ship are expected to visit some tourist attractions in the city limits.
Further, this visit provides an avenue to enhance professional interaction and courtesy engagements among two navies.
The Royal Navy of Oman Ship ‘AL SEEB’ arrived at the Port of Colombo on a logistics replenishment visit today (22 Jan 26).
The Sri Lanka Navy welcomed the visiting ship in compliance with naval traditions.
The 75m – long ship is commanded by Lieutenant Commander Hamad Bin Mohammed Aldarmaki. The port call will facilitate professional interaction and goodwill exchanges between the two navies.
During her stay in Colombo, crew members of the ship are expected to visit some tourist attractions in the city of Colombo.
News
Mechanism to be established involving university academics and experts for Education Reforms – President
President Anura Kumara Dissanayake stated that the Government is taking steps to establish a comprehensive mechanism, supported by an appropriate legal framework, to bring together university academics, experts and all relevant parties in order to resolve issues arising during the implementation of education reforms.
The President made these remarks during a discussion with the Federation of University Teachers’ Associations (FUTA) held on Wednesday (21) morning at the Presidential Secretariat.
During the discussion, FUTA members emphasized the challenges encountered while trying to implement educational reforms through a framework established by the National Institute of Education, in line with the current laws and regulations.
They further emphasized that while their association acknowledges the need for new education reforms, the urgency of such reforms is greater for students in rural schools than for those in urban schools.
The Federation of University Teachers’ Associations further stated that they appreciate the decision taken by the Government, under the leadership of the President, to address the issues arising from education reforms and affirmed their readiness to contribute to this process.
As a continuation of the previous discussion, proposals addressing the challenges faced by academics within the university system, along with possible solutions, were presented to the President. In response, the President emphasized that the Government would take all possible measures to safeguard the university system and strengthen education.
The discussion also covered proposed amendments to the Universities Act.
President Anura Kumara Dissanayake noted that, in the aftermath of the recent disaster, the Government has been effectively implementing a nationwide rebuilding programme, addressing economic stability, development and all critical sectors. The President also called upon university academics to actively support these reconstruction efforts.
The meeting was attended by Minister of Ports and Civil Aviation, Anura Karunathilaka, as well as representatives of the Federation of University Teachers’ Associations, including its President, Prof. P. R. Weerathunga, Vice President M. A. M. Sameem and Secretary Charudaththe Ilangasinghe.
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