Sri LankaSri Lanka · Funding your studies

Study Abroad Loans
for Sri Lanka Students

For Sri Lankan students, the central question is usually foreign exchange rather than the loan itself. Sending money abroad for study is done through an Authorised Dealer bank with supporting documents, and the foreign-currency controls introduced after 2022 make early planning important. Some banks also offer education loans, often secured.

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How it works

Financing study abroad from Sri Lanka

Family members in Sri Lanka can remit funds to a student abroad through an Authorised Dealer (a licensed bank) on production of documentary evidence such as the offer letter and fee schedule. Several banks offer education loans alongside this, typically secured against property or deposits.

Collateral & guarantor: Bank education loans in Sri Lanka are generally secured, with a guarantor. Because of foreign-exchange limits, many families fund study abroad through a mix of savings, remittances via an Authorised Dealer, and a secured loan.

Options

Schemes & lenders

Authorised Dealer remittances

The legal channel for sending tuition and living costs abroad — a licensed bank remits on production of the offer letter and fee evidence.

Bank education loans

Secured education loans from commercial banks, repaid over several years. Terms and eligible countries vary by bank.

International no-cosigner lenders

Prodigy Finance and (when open) MPOWER lend to Sri Lankan students abroad without local collateral, based on the university and future earnings.

Paying the university

Foreign exchange & remittance

Outward remittances for study go through an Authorised Dealer bank with documentary evidence. Foreign-currency controls can change, so confirm the current limits and process with your bank before committing to a start date.

Paperwork

Documents you’ll typically need

  • University offer letter and fee schedule
  • Passport and student visa
  • Proof of relationship (for family remittances)
  • Guarantor and collateral documents (for a secured loan)
  • Academic records and test scores
No collateral?

International no-cosigner lenders

Prodigy Finance

Lends to international master's students (MBA, STEM, law, public policy and similar) from 120+ countries without a co-signer, assessing future earning potential and the university/programme rather than a guarantor's income. Can finance up to 100% of the cost of attendance. Students must be admitted to a supported university and programme.

MPOWER Financing

Offers no-cosigner, no-collateral loans to students from 150+ countries studying in the US and Canada, with a lifetime limit around US$100,000. Note: MPOWER paused new lending for 2026 after reaching funding capacity, so check current availability before relying on it.

Good to know

Frequently asked questions

How do Sri Lankan families pay tuition abroad?

Through an Authorised Dealer — a licensed bank — which remits tuition and living costs on production of documentary evidence such as the offer letter and fee schedule. Because of foreign-exchange controls, start the process early and confirm current limits with your bank.

Are education loans available in Sri Lanka for study abroad?

Yes, several banks offer education loans, generally secured against property or deposits and backed by a guarantor. Many families combine a loan with savings and remittances.

What if I cannot pledge collateral?

International lenders such as Prodigy Finance (and MPOWER when open) assess your university and future earnings rather than local collateral.

Plan your funding

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Sources: Central Bank permits remittances for Sri Lankans abroad — The Morning

Last reviewed October 2026. This is general educational information, not financial or lending advice. Loan products, rates, scheme rules and foreign-exchange limits vary by lender and change over time — verify current details with regulated lenders and your bank, and speak to a qualified adviser about your own situation.