Student Loan Scheme under the National Bank of Pakistan (NBP) is the initiative of Federal Ministry of Finance that was launched by the Federal Government of Pakistan during 2001-02 for taking the education to next level. In addition to NBP, various other banks such as HBL, UBL, MCB, and ABL are also the part of this initiative.
Under the NBP Student Loan Scheme, financial assistance is not in the shape of need based or merit based scholarship. In fact, financial assistance provided by the NBP in form of interest free loans. These interest free loans are available for students pursuing their educational career in scientific, technical and professional education within Pakistan.
NBP Student Loan Scheme Eligibility:
- Student must be admitted in public/government universities.
- Student must be admitted on merit basis. Self-support student are not allowed.
- The age of student at the time of admission must be as per following table:
- For Graduation: Not more than 21 years
- For Post-Graduation: Not more than 31 years
- For Ph.D.: Not more than 36 years
- Student has secured minimum 70% marks in the last examination held.
- Student is unable to carry studies due to financial problems
- Student must be studying in the following subjects:
- Oil Gas & Petro Chemical Technology
- DAWA and Islamic Jurisprudence (LL.B/LL.M Sharia)
- Biology, Molecular Biology & Genetics
- Other Natural Sciences
- Computer Science & Information
- Economics, Statistics, and Econometrics
- Business Management Sciences
Method for awarding of loan:
Loan will be available for entire duration of the study as per follow:
Fee of student will be paid directly to the university or college.
Hostel charges (excluding meal charges) and procurements of textbooks will be directly handover to the student.
Payment of Loan:
The period for repayment of loan is 10 years from the date of disbursement of first installment of loan. The repayment will be made as per:
- Six month from the date of first installment in case of student get the job; or
- One year from the date of completion of studies, whichever is later.
Here are useful link for NBP Student Loan Scheme:
For further detail: Click here