The scholarships are for the 2011 diploma program. The scholarships provide tuition and a monthly stipend.
During the 12-month program, scholarship recipients choose from Tamil, Sinhala and English course streams focusing on print, television or radio with an internship with a media organization.
"USAID believes that a strong and independent press is a cornerstone of democracy" Jim Bednar, USAID Mission Director said in a statement.
"These scholarships will contribute to maintaining the diversity and caliber of Sri Lanka™s press corps in the years to come,"
The course produces about 60 graduates a year with 97 percent job placement rate, the statement said. USAID said it hoped to provide scholarships to students from the provinces.
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