Over the last 35 years since the commencement of the Mahapola Scholarship awarding, the required funds for monthly scholarship installments payment, Mahapola fund contribution were transferred to respective universities and the university contribution was paid by the available recurrent allocation.

This payment process has taken much time for processing and money transfer to the individual student accounts. Unavailability of the regular funds in the universities also delays the payment of monthly scholarship installments.

Accordingly, considering all the above delays and time consuming on installment process the Director MTF submitted a proposal for re-structuring of the monthly scholarship payment process and it is approved by the Board of Trustees at its 68th Meeting of the Board of Trustees. Then University Grant Commission and General Treasury are also agreed to implement the new payment system.

The Treasury contribution of Rs.2,450/- for each Scholarship will be directly transferred to the MTF account by University Grant Commission in order to make the monthly Scholarship installment payment of Rs.5,000/- or 5,050/- directly to the student bank account at specific date of the month.

Under new payment system,

  • Mahapola scholarship installments are directly remitted to student’s bank accounts.
  • Students will be notified via SMS of payments.
  • Students’ monthly payment details can be viewed by log in the web site student web portal of Mahapola Trust Fund.