How to take Student Loan in Pakistan?
if your are searching the Answer of Question “How to take student loan in Pakistan?” or “is there any student loan scheme in Pakistan?” then the answer is “Yes”. The objective of this NBP Student Loan Scheme is to provide financial assistance to the meritorious students having insufficient means. The loans are granted for a maximum tenor of 10 years from the date of the disbursement of first instalment and repayable in monthly instalments after six months from the date of first employment or one year from the date of completion of studies, whichever is earlier. National Bank of Pakistan, being the administrator of the Student Loan Scheme 2021, performs all the functions like receiving and scrutinizing the loan applications, disbursement of loans and their recovery. Main highlighted points are as under:
- Loan Purpose : Only Study
- Max Duration : 10-Years
- Interest Rate : Interest Free
- Supervisor Bank: National Bank of Pakistan
What are the requirements for Student Loan:
Students are eligible to apply For Student Loan Scheme 2021, only:-
- If the student has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector (List Attached) mentioned hereunder.
- If the student falls at the time of admission within the age bracket of: –
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- Graduation – Not exceeding 21 Years
- Post Graduation – Not exceeding 31 Years
- Ph.D Level – Not exceeding 36 Years
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- If the student has secured 70% marks in the last public examination.
- If the student has undertaken the study of the subjects given below.
- And if the student is unable to pursue studies due to financial constraints.
How to apply for interest free student loan in Pakistan?
You can apply for the interest free student loan under the Student Loan Scheme 2021 by getting the application form available at designated branches of concerned banks or you can download the form. Many Banks are working under the supervision of National Bank of Pakistan.
STUDENTS LOAN SCHEME (SLS) for Education was launched by the Government of Pakistan in collaboration with major commercial banks of Pakistan (NBP, HBL, UBL, MCB and ABL)
Loan Scheme for youth in Pakistan
Student loan Scheme in Pakistan will be available for entire duration of the study for purpose of:
- Schedule Fee (Paid directly to the university/college)
- Boarding expenses excluding meal charges (Paid directly to the university/college)
- Procurement of textbooks – Disbursed directly to the student
What is repayment schedule of Student Loan?
The maximum period of repayment of loan is 10-Years from the date of disbursement of first instalment. The borrower shall repay the loan in monthly instalment after six months from the date of first employment or one year from the date of completion of studies, which ever is earlier.
Which subjects are required to eligible to apply for loan?
Only students who study following subjects can apply for interest free loan
- Engineering
- Electronics
- Oil Gas & Petro-Chemical Technology
- Agriculture
- Medicine
- Physics
- Chemistry
- Biology, Molecular Biology & Genetics
- Mathematics
- Other Natural Sciences
- DAWA and Islamic Jurisprudence (L.L.B/L.L.M Sharia)
- Computer Science/ Information System and Technology including hardware.
- Economics, Statistics and Econometrics
- Business Management Sciences
- Commerce
How can a student get loan easily?
- Student can collect or download the Application Form available on bank branch or bank website
- Students are advised to submit 2-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 (list available on bank website).
- 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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