This scholarship scheme was initiated by the Ministry of Trade, Commerce and Consumer Affairs. Scholarships are offered on the basis of the highest marks earned at the G.C.E. (Advanced Level) examination. As per the income records, the Mahapola Scholarships are granted with Rs. 2500.00 in combination of Rs. 2150.00 as the Mahapola scholarship amount and Rs. 350.00 as the university grant. The amount of the scholarship changes according to the income records and marking aggregates.

The Mahapola Scholarship Trust of the Ministry of Trade, Commerce and Consumer Affairs prepares the Mahapola Scholarship payment documents and the Mahapola Scholarship Trust reserves the right to all decisions regarding the payment of installment arrears, suspension of installments, re-establishment of the suspended installments etc.

Mahapola Scholarship funds can be accessible only during the academic period of registered university students. Ten Mahapola scholarships are granted within a single academic year.

The date or the dates of the installment payment are displayed on the hostel and other notice boards. Installment payments of the students who do not claim for three consecutive terms will be suspended. More details of the Mahapola scholarship are available at the Student Welfare Section.