Is Financial Aid Available for Students?
Yes! Multiple Financial Aid Options
Scholarships | Payment plans (LKR 15,000/month) | Employer sponsorship | Bank loans
Complete financial aid guide with scholarship opportunities, payment plans, employer sponsorship programs, bank education loans, work-study options, application process, deadlines, and success stories of students who funded their education.
Financial Aid Options Overview
Merit Scholarships
10-50% fee reduction
Eligibility:
A/L 2A+1B or above, Previous degree 3.0+ GPA
How to Apply:
Submit with enrollment application
Availability:
20-30 scholarships per intake
Benefit: Save LKR 50,000-300,000
Need-Based Aid
20-40% fee reduction
Eligibility:
Family income < LKR 50,000/month, Financial hardship proof
How to Apply:
Separate financial aid application + documents
Availability:
15-25 awards per intake
Benefit: Make education accessible
Payment Plans
0% interest installments
Eligibility:
All students qualify
How to Apply:
Select during enrollment
Availability:
Unlimited - everyone can use
Benefit: LKR 15,000-25,000/month, no extra cost
Employer Sponsorship
50-100% company-paid
Eligibility:
Employed, degree relevant to job
How to Apply:
Request from employer HR
Availability:
Depends on company policy
Benefit: Study free + job security
Bank Education Loans
LKR 500,000-1,500,000 loan
Eligibility:
Guarantor, enrollment proof, income proof
How to Apply:
Apply at bank with documents
Availability:
All major banks offer
Benefit: Pay fees now, repay over 3-5 years
Work-Study Programs
Earn LKR 10,000-30,000/month
Eligibility:
Enrolled students, good academic standing
How to Apply:
Apply after enrollment
Availability:
Limited positions
Benefit: Cover 30-50% of fees through work
Financial Aid Application Process
Apply for Admission First
Complete your program application and get provisional acceptance
Timeline: 2-3 weeks before semester
Action: Submit enrollment application with academic documents
Submit Financial Aid Application
Fill out separate financial aid application form (available from admissions office)
Timeline: Within 1 week of admission
Action: Download form, complete accurately, submit with supporting documents
Gather Required Documents
Collect all supporting documents for your application
Timeline: 1 week preparation
Action: See required documents section below
Financial Aid Committee Review
Committee evaluates applications based on merit, need, and availability
Timeline: 1-2 weeks processing
Action: May be called for interview - be prepared to explain your situation
Receive Decision & Accept
Get notification of scholarship/aid award amount
Timeline: 3-4 weeks before semester
Action: Accept aid offer, sign agreement if required, complete enrollment with reduced fees
Important Deadlines
- →Merit Scholarships: Must apply at time of enrollment (automatic consideration)
- →Need-Based Aid: Application deadline 4 weeks before semester start
- →Bank Loans: Apply 6-8 weeks before fees due (processing time)
- →Late Applications: Not accepted - plan ahead!
Documents Required for Financial Aid
For All Applications
- ✓Completed financial aid application form
- ✓Copy of NIC (student and parents/guardian)
- ✓Academic certificates (A/L, O/L results)
- ✓Proof of enrollment/admission letter
- ✓Two passport-size photographs
For Need-Based Aid
- +Family income proof (salary slips, tax returns)
- +Bank statements (last 3 months)
- +Samurdhi/low-income certification (if applicable)
- +Grama Niladhari recommendation letter
- +Statement of financial need (written explanation)
For Bank Loans
- +Guarantor details and consent
- +Parent/guardian income proof
- +Course fee structure from institution
- +Collateral documents (if required by bank)
For Employer Sponsorship
- +Employment letter from current employer
- +Sponsorship request letter explaining relevance
- +Program details and fee structure
- +Employer sponsorship approval letter
Success Stories: Students Who Used Financial Aid
Dilini Fernando, 21
From rural village, family income LKR 35,000/month
Financial Aid:
Merit + Need-Based Scholarship (60% reduction)
Savings:
Paid LKR 240,000 instead of LKR 600,000
Outcome:
Graduated BSc IT, now Software Developer at Virtusa earning LKR 110,000/month
"Without financial aid, my family could never afford university. The scholarship changed my life - I'm now the first graduate in my family and supporting my parents!"
Ranil Jayawardena, 29
Married with 2 kids, working as accountant clerk
Financial Aid:
Employer Sponsorship (100%) + Payment Plan
Savings:
Company paid full LKR 530,000 HND fees
Outcome:
Completed HND Business, promoted to Senior Accountant with 45% salary increase
"I showed my manager how the degree would improve my work. They agreed to sponsor me fully if I signed a 2-year bond. Best decision - now I'm managing a team!"
Amali Perera, 25
Single mother, working 2 part-time jobs
Financial Aid:
Need-Based Aid (40%) + Work-Study Program
Savings:
LKR 210,000 scholarship + earned LKR 180,000 through campus work over 3 years
Outcome:
BSc Nursing degree, now Registered Nurse at Asiri Hospital earning LKR 85,000/month
"I worked as admin assistant at campus 20 hours/week while studying. Tough but worth it - financial aid + work-study made my dream possible despite being a single mom!"
Frequently Asked Questions
What types of scholarships are available?
Multiple scholarship opportunities: (1) Merit-based: 10-50% fee reduction for students with strong academic records (A/L 3 As = 30% discount), (2) Need-based: Financial assistance for economically disadvantaged students (up to 40% reduction), (3) Sports/Arts scholarships: For students with exceptional achievements, (4) Community scholarships: For students from underserved regions, (5) Early enrollment discount: 10-15% off for paying full year upfront. Apply early - limited scholarships available each intake!
How do I apply for financial aid?
5-step application process: (1) Complete degree application first, (2) Submit financial aid application form (available from admissions), (3) Provide supporting documents (income proof, bank statements, recommendation letters), (4) Attend interview with financial aid committee (if required), (5) Receive decision within 2 weeks. Application deadlines: 4 weeks before semester starts. Start early as funds are limited!
Can my employer sponsor my education?
Yes! Many employers support employee education: (1) Full sponsorship: Company pays all fees, (2) Partial reimbursement: Company refunds 50-100% upon completion, (3) Study leave: Paid time off for exams/intensive periods, (4) Education loans: Company provides interest-free loans. How to ask: (1) Show how degree benefits your current role, (2) Offer to sign bond/commitment, (3) Propose phased reimbursement. Success rate: 60%+ of students who ask receive some support!
Which banks offer student loans for higher education?
Leading banks with education loans: Bank of Ceylon (BOC): Up to LKR 1,000,000, 8-10% interest, 5-year repayment. People's Bank: Up to LKR 800,000, 9-12% interest. Commercial Bank: Up to LKR 1,500,000, 10-14% interest. Sampath Bank: Up to LKR 1,000,000, competitive rates. Requirements: Guarantor, proof of enrollment, parent/guardian income proof. Tip: Compare rates - some banks offer lower rates for high-demand fields like IT, Engineering!
Are there work-study programs where I can earn while learning?
Yes! Earn-while-you-learn opportunities: (1) Campus internships: Work part-time at Ceylon Open Campus (admin, student support, tutoring) - earn LKR 10,000-20,000/month, (2) Industry partnerships: Internships with partner companies during studies, (3) Freelance projects: IT/Business students can freelance on skills learned, (4) Part-time teaching: After completing HND, tutor junior students. Doesn't cover full fees but significantly reduces burden. Many students cover 30-50% of fees through work!
What happens if I can't pay fees on time?
We understand financial challenges: (1) Grace period: 2-4 weeks extension on payment deadlines (request in advance), (2) Revised payment plan: Split remaining fees into smaller monthly amounts, (3) Semester deferment: Take 6-month break to save money, resume later (no extra cost), (4) Module reduction: Study fewer modules per semester to reduce immediate costs. What NOT to do: Disappear without communication - we work with students who communicate proactively. Contact us immediately if facing financial difficulties!
Don't Let Finances Stop Your Education
Contact Ceylon Open Campus to discuss financial aid options. We'll help you find a way to afford your degree!
Phone
075 922 0083
Mon-Sat: 9AM - 6PM
coc.ceylon@gmail.com
24-hour response time
Campus
Ceylon Open Campus
Kattankudy, Sri Lanka