HNB PLC, Sri Lanka's leading private sector bank, recently announced its partnership with CICRA Campus, a renowned higher educational institution, to provide students with convenient payment schemes to pursue their academic and technical aspirations without financial constraints.

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.

"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," HNB AGM - Personal Financial Services, Kanchana Karunagama said.

One of the critical features of this scheme is its repayment flexibility. Undergraduate students can commence repayment of the loan capital after completing the course period with additional six months of their program, allowing for 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.

"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," CICRA Campus Group Director/CEO Boshan Dayaratne stated.

Significantly, 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.

CICRA Campus is a leading educational institution in Sri Lanka, offering high-quality cybersecurity, technology, and academia education. With partnerships with renowned institutions such as Deakin University Australia, Wrexham University UK, Melbourne Polytechnic Australia, Leaders Institute Australia, and Asia e University Malaysia, along with EC Council USA, along with a commitment to excellence, CICRA Campus is shaping the future of education in Sri Lanka and beyond.

With 256 customer centres, HNB is one of Sri Lanka's largest, most technologically innovative private banks. In addition to being among the Top 10 Best Corporate Citizens at their 14th time being honoured by the CCC BCCSA, HNB was also ranked Best Retail Bank in Sri Lanka for the 14th year at the Asian Banker Global Excellence in Retail Financial Services Awards 2024. They were also recognized with Best Service in Trade Finance (Asia Banks), Market Leader in Trade Finance (Asia Banks), and Best SME Bank at Asiamoney Awards 2023.

Furthermore, the Bank solidified its reputation in the sector by securing four prestigious awards at the renowned Euromoney Awards for Excellence in 2024, including being crowned as Best Market Leader in Trade Financial Services and receiving Best Service in Trade Financial Services in both Overall and Domestic categories.

Image Caption : HNB DGM - Retail Banking Group, Sanjay Wijemanne (fourth from left) and CICRA Campus Group Director / CEO, Boshan Dayaratne (fifth from left) exchanging the MoU in the presence of (from left):  HNB Relationship Manager - Employee Banking, Ruwanthika Perera, HNB Senior Manager - Employee Banking, Piyakara Jayaratne, HNB AGM - Personal Financial Services, Kanchana Karunagama, CICRA Campus Head of Academics, Tharaka Soysa and CICRA Campus Head of Finance, Kushan Virantha.