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Financial assistance for undergraduates of low income families

Mar 31, 2011 6:37:31 AM - itnnews.lk

The Government is mulling over the provision of financial assistance for students from low income families entering Universities for higher education.

Accordingly it is planned to enact to provide financial assistance for Higher Education. This is a proposal submitted by Higher Education Minister S.B. Dissanayake for which the Cabinet has granted the nod. The Legal Draftsman will draft the Bill for a new Act Called Human Capital Development Finance Act. Under this, students from poor families entering Universities could obtain loans from Banks for their academic activities, to be repaid compulsorily through their prospective employers from their monthly salaries, once they get employed after passing out from Universities.

Addressing the weekly Cabinet news briefing, Minister Keheliya Rambukwella said it has been observed that funds received by students through University bursaries or through the Mahapola Scholarship Fund are inadequate for their academic activities. As such it was slated to launch this new loan scheme.