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    • Savings Plans Sri Lanka

    higher education for my child

    In a country with a literacy rate well above that of a developing nation, earning a degree remains a difficult hurdle for far too many Sri Lankans.

    Why you need to think about it

    Sri Lanka has one of the highest literacy rates in South Asia with over 92 percent of the population able to read and write. Sadly this does not reflect on the number of people with a university degree. Since the education system as a whole is also driven on a theoretical knowledge model, a higher education becomes even more important to gain the practical knowledge needed for a job role in the private sector.

    The university system cannot accomodate everyone qualified enough to enter local universities. In fact only 25,000 can be accommodated while almost 30,000 who are qualified do not get to enter a public university. This means many talented and smart students are forced to consider private universities and vocational training courses. But not everyone can afford to pursue a private degree program due to lack of funds. It affects the human resource supply as a whole because employers don't have a quality labor force with a high valued set of skills to serve the country. 

     

    Did you know?

    Only 20% of all eligible Advanced level students are recruited to local public universities

    The cost of studying abroad for Sri Lankans has increased by 14% each year.

    The average cost of a higher education abroad is between LKR 10-15 million.

    Tips & advice

    Have a savings plan for your child's higher education

    Time flies as you would have realized on your child's first day of school. Before you know it he/she would be sitting for the Ordinary Level exams. The day your child starts school is the day you plan for your child's higher education. By planning early, you can make sure your child has the funds to start a degree at a private university if the need arises. For example, if you buy an education savings plan when your child enters school at age 6, you will have a fund that has grown for at least 10 years by the time your child finishes his/her Ordinary Level exam.

    Embrace foreign exposure

    Change is not something that comes naturally to Sri Lankans. As a collective society with closely knit families, there is a reluctance to send children abroad to study even if they can afford it. However, studying abroad will give students the chance to develop their cross cultural communication and business skills. It will also allow a student to think and operate independently and stand out from their peers.

    Classroom education is not everything

    Don't limit your education to books. There is a lot a child can learn from participating in sports and extra curricular activities that will contribute immensely when applying for jobs. Many students have earned scholarships at foreign universities based on their non academic achievements. Encourage children to engage in team sports and activities from school days and continue it during university.

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      A view of the Sri Lankan education system from its main recepient - the student. 

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    • Sri Lanka’s HR Challenge; not enough of the right skills and skilled people
      Sri Lanka’s HR Challenge; not enough of the right skills and skilled people

      Earning your education 'certificate' does not guarantee the skillset and training required to face a real life entry level job. 

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    • Open Online Courses Can Help More Sri Lankans Access Higher Education
      Open Online Courses Can Help More Sri Lankans Access Higher Education

      Not everyone can afford to travel abroad for an education, but you can gain the same qualification through an online degree program. Do your research because preparing for a career path starts at home. 

      Read more

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