The Government has implemented a loan scheme to provide interest-free loans to students who have succeeded in the General Certificate of Education (GCE) Advanced Level) examinations but are unable to secure opportunities in government universities. 

This scheme aims to enable students to pursue government-recognized degree programs in higher education institutions approved by the Government.

Currently, the People's Bank and the Bank of Ceylon are providing these loans.  

Under the 10th phase of this loan scheme, arrangements have been made to extend loan facilities to 7,000 students. 

The Cabinet has approved a proposal submitted by the Minister of Education, Higher Education, and Vocational Training, the Prime Minister Harini Amarasuriya, to include the National Savings Bank as an additional bank offering loans under this scheme, alongside the People's Bank and the Bank of Ceylon.