Interest-free loan approved for students of Rs. 82.6 million

Aizbah KhanWeb Editor

20th Aug, 2021. 04:30 pm
Interest-free loan approved for students of Rs. 82.6 million

The Apex Committee of the Student Loan Scheme has approved an interest-free loan of Rs. 82.6 million for 518 students of the country.

The apex committee meeting was attended by officials of SBP, officials of the Finance Division and five major banks of the country.

During the meeting, a loan of Rs. 82.6 million was approved for 518 students of the country’s public universities.

A link to the list of names of students who have received student loans has been published on the National Bank’s website and the loans are for a period of 10 years.

Students will have to repay the loan on a monthly basis one year after completing their studies or 6 months after getting the job.

Students Loan Scheme – Details of Eligibility
Criteria of the Scheme

ELIGIBILITY

• Under the scheme the students are eligible to apply for loans provided:
i) He/She has obtained admission on merit through normal course/procedure in
the approved Universities/Colleges of the public sector (List Attached)
mentioned hereunder.
ii) He/She falls at the time of admission within the age bracket of:-
For Graduation Not exceeding 21 Years
For Post-Graduation Not exceeding 31 Years
For Ph.D Not exceeding 36 Years
iii) He/She has secured 70% marks in the last public examination.
iv) He/She has undertaken the study of the subjects given below.
v) He/She is unable to pursue studies due to financial constraints.

TYPES OF LOAN

The loan facility will be available for entire duration of the study for:-
➢ Schedule Fee
Paid directly to the
➢ Boarding expenses excluding meal charges University/College
➢ Procurement of textbooks — Disbursed directly to the student

REPAYMENT

The maximum period of repayment of loan is 10-Years from the date of disbursement of first
installment. The borrower shall repay the loan in monthly installment after six months from
the date of first employment or one year from the date of completion of studies, whichever is earlier.

APPROVED SUBJECTS

i) Engineering ii) Electronics
iii) Oil Gas & Petro-Chemical Technology iv) Agriculture
v) Medicine vi) Physics
vii) Chemistry viii) Biology, Molecular Biology & Genetics
ix) Mathematics x) Other Natural Sciences
xi) DAWA and Islamic Jurisprudence
(LL.B/LL.M Sharia)
xii) Computer Science/Information
System and Technology including hardware.
xiii) Economics, Statistics and Econometrics xiv) Business Management Sciences
xv) Commerce

OTHER INFORMATION

➢ Application Forms are available from the designated branches
mentioned above or may be downloaded from National Bank of Pakistan
website www.nbp.com.pk/studentloan
➢ Students are advised to submit (2) two sets of Student Loan Applications
Form.
➢ The students desirous of availing loan under the Scheme may apply on
prescribed form for financial assistance subject to he or she has got
admission on merit through normal procedure in the Universities/ Colleges
afore-mentioned.
➢ Applicants are required to submit/send their applications on the prescribed
form, duly completed in all respect, to the designated branches indicated
against each University/College by the given date. Incomplete application
shall not be entertained.
➢ Students who have already availed this facility in the last / previous year(s)
need not to apply

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