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| Sunday, 16 November 2003 |
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| News Business Features Editorial
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Company financing education seeks opportunities in N-E The TFC Education Investment Centre, established by The Finance Company (TFC) to assist persons needing finances to continue their higher studies, will launch its services in the North and East in the near future. Head of TFC's Education Investment Centre, A.S. Malavithanthri said that it is the first institute established in Sri Lanka to assist people who wish to take up higher studies but are hampered by financial problems. Malavithanthri said: "TFC commenced this scheme in July 2001 and up to now, has invested Rs 50 million to uplift the country's education. "For two months, we have given Rs 15 million for local and foreign education and 2.5 per cent of this for university education". He said that all one has to do is to start an investment plan with the company and save for 12 months. "If your requirement is urgent, you could even pay 20 per cent of the course fee at the outset and then apply for finance facilities." The repayment period of the loan can be staggered from one to six years to make it more convenient and affordable. "Two guarantors are necessary for a person seeking to obtain a loan. However, if you are unable to find a guarantor, the mortgage bond will help you. Even loans below Rs 20,000 could be accommodated under a special scheme," he added. (CM) |
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