Increased Mahapola allowance to be credited to bank accounts from tomorrow

2026-03-09 - 15:58

Steps have been taken to credit the increased Mahapola Higher Education Scholarship Scheme allowance, introduced under the 2026 Budget proposal, to students’ bank accounts from tomorrow (10). Accordingly, the sum of Rs. 10,000 relevant to January will be credited in this manner, Chairman of the Lalith Athulathmudali Mahapola Higher Education Scholarship Trust Fund, retired judge Vijith Malalgoda, said. The allowance, which previously stood at Rs. 7,500, has been increased to Rs. 10,000. Payments under the Mahapola Scholarship Scheme are jointly financed by the Treasury through the Lalith Athulathmudali Mahapola Higher Education Scholarship Trust Fund and the University Grants Commission. Under the current arrangements, 48 per cent of the scholarship allowance is borne by the Mahapola Trust Fund, while the remaining 52 per cent is funded by the Government through the University Grants Commission. Furthermore, the Mahapola scholarship allowance has been revised twice during the period from April 2025 to January 2026. As a result, the allowance has been increased from Rs. 5,000 to Rs. 10,000 through two increments of Rs. 2,500 each, effectively doubling the scholarship allowance under the present Government.