Having a quality based education in Pakistan is going to be hard nowadays in Pakistan. Pakistani universities are ranking at internationally decreasing day by day. Those offering quality education, except some government universities, it ‘s hard to get enrolled because of heavy dues and fees.
Most of the banks operating in Pakistan are offering financial assistance to students in Higher Education Programs in Pakistan. Most of the banks are offering loan for all universities while some are offering for selected institutes only.
Here are the financial institutes offering student loan in Pakistan.
MCB Student Loan
Minimum 21 years and maximum 45 years at the time of loan/first trance approval
The student meeting the following criteria shall be eligible for the loan:
- Be a Pakistani National.
- Has got at least 50% marks (or equivalent) in the last public examination (i.e. other than admission tests, e.g. GMAT, SAT, LMAT, etc.) LUMS must confirm the same in writing.
- Must have a valid admission in and has provided admission acceptance to LUMS. LUMS must provide confirmation of finalized admission in writing.
Maximum PKR 1 million only
NBP Student Loan Scheme
NBP Student Loan Scheme Eligibility:
- The student must be admitted to public/government universities.
- The student must be admitted on merit basis. Self-support student is not allowed.
- The age of a student at the time of admission must be as per the 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
- The student has secured minimum 70% marks in the last examination held.
- Student is unable to carry studies due to financial problems
- The 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:
The loan will be available for entire duration of the study as per follow:
A fee of the 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 the loan is 10 years from the date of disbursement of the first installment of the loan. The repayment will be made as per:
- Six months from the date of the first installment in case of student get the job; or
- One year from the date of completion of studies, whichever is later.
Sindh Bank Student Loan Program
The First Micro Finance Bank Student Loan
|Eligibility Criteria||Parent/Blood Relative||Student|
|· Annual income (net of business expenses) not exceeding PKR 500,000|
· Valid CNIC
· Age between 18-64 years
· Permanent resident of the area in FMFB branch
|· Valid CNIC|
· Age between 18-29 years
· Enrolled or seeking admission in graduate/post-graduate program in an HEC recognized institute or FMFB selected Technical and Vocational Institute
· Must have achieved at least 2.5 GPA points or 50% marks in the last completed requisite education
|Loan Amount||· Maximum (For each semester/academic year): PKR 150,000|
· FMFB’s loan amount will be determined based on the remaining study period, for which a financial plan will be developed in mutual consultation
|Loan Repayment||· Option 1: Total Principal and Service Charges to be repaid over one semester/annual academic session|
· Option 2: Principal and Services Charges to be paid over an extended period, which will go beyond the study period
|Loan Tenor||· Option 1: 6, 12 months – Monthly/Bullet Installment|
· Option 2: 24, 36, 48 months – Monthly Installments
|Required Documentations||· Last educational transcript/mark sheet|
· University/College fee structure/brochure