HNB PLC has entered into a partnership with CICRA Campus to provide students loans to pursue their academic and technical aspirations.
The hallmark of this collaboration is the pioneering Study-Now-Pay-Later scheme, designed to alleviate the financial pressures on students and their families while ensuring access to quality education. Under this initiative, students can avail themselves of educational loans from HNB and commence repayment upon successful completion of their study programs.
HNB AGM, Personal Financial Services, Kanchana Karunagama said, “As we navigate the challenges of the present, it’s imperative to invest in readying the next generation of leaders and thinkers who will propel our nation’s progress.
“Regardless of economic circumstances, access to higher education should be inclusive and equitable for all. HNB is proud to collaborate with a premier educational institution in CICRA Campus to introduce this scheme, confident that it will foster a more knowledgeable society and ultimately enrich the future of our country,” Karunagama said.
One of the critical features of this scheme is its repayment flexibility. Undergraduates can commence repayment of the loan after completing the course period with additional six months of their program, permitting a seamless transition into the workforce. Parents can support their children during the study period by covering interest payments, and following graduation, students and/or their parents can continue repaying the loan in instalments.
CICRA Campus Group Director/CEO Boshan Dayaratne said, “With the Study-Now-Pay-Later scheme, we provide students with the financial flexibility they need to pursue their academic and career aspirations. This partnership with HNB marks a significant milestone in our commitment to fostering accessible and affordable education.
Together, we are reshaping the landscape of higher education, making it more inclusive and conducive to the aspirations of our students.”
This scheme extends its benefits to students aspiring to pursue higher education abroad, where students can mitigate the financial strain associated with studying abroad by enabling them to study for one or two years in Sri Lanka before venturing overseas.
