Increased Mahapola scholarship allowance to be credited from tomorrow

The increased Mahapola Higher Education Scholarship allowance, as part of the 2026 Budget proposal, will be credited to students' bank accounts starting tomorrow, October 10. Vijith Malalgoda, the chairman of the Lalith Athulathmudali Mahapola Higher Education Scholarship Trust Fund and a retired judge, announced that Rs. 10,000 for January will be deposited. This amount is an increase from the previous Rs. 7,500. The Mahapola scholarship payments come from three sources: the Treasury, the Mahapola Trust Fund, and the University Grants Commission (UGC). Currently, the Mahapola Trust Fund covers 48% of the allowance, while the government provides the remaining 52% through the UGC. The Mahapola scholarship allowance has been raised twice between April 2025 and January 2026. With two increases of Rs. 2,500 each, the allowance has been doubled from Rs. 5,000 to Rs. 10,000 under the current government.