Finance Minister Mangala Samaraweera said the 14 students who achieve best results at the Advanced Level examination this year (2019) will be sent to Harvard, Oxford, Cambridge and MIT universities on government scholarships. 

"In 2020 we expect to send more students. But they need to return and serve the country on a 10-year bond," Samaraweera said in his budget speech. 

He also added that a new loan scheme to encourage students to pursue higher education in private universities.

"Rs. 1.1 million interest-free loan with a two-year grace period to facilitate higher education. Loan can be repaid in 12 years. We have allocated Rs. 200 million to carry out this plan this year," Samaraweera added.