The Cabinet has approved significant updates to the 8th stage of Sri Lanka's interest-free student loan scheme, which began in 2017. 

The changes include revising course fees for non-governmental higher education institutes based on recommendations from a specialized committee.

Additionally, the National Savings Bank will join the Bank of Ceylon and Peoples Bank in managing the scheme to reduce financial risk.
The revised scheme will feature a minimum loan interest rate of 13% and include an annual review.
Furthermore, the scheme will now enroll up to 7,000 students per stage.