Piggy Bank

The Chartered Institute of Management Accountants (CIMA) Sri Lanka will roll out a student loan scheme for the first time, covering the entire cost of tuition and subscription fees for each stage.

rnThe loan of up to a maximum of Rs. 300,000, will be given to interested students on a staggered basis, and is extended on passing each of the three stages.rn

rnTuition and registration fees for five subjects at Foundation level for example, costs a total of Rs. 50,000 and only on passing the first stage will be extended the second tranche.rn

rnCovered by two guarantors earning Rs. 20,000 a month, the loan will have to be paid back over five years after graduating.rn

rnThe institute is in talks with Nations Trust Bank and HSBC amongst others to roll out the scheme in a month on concessionary terms.rn

rnldblquote We are already negotiating with the two banks on reasonable interest rates, and we should be able to launch within a month
dblquote , new President of CIMA Sri Lanka, Claude Perera said on