Banks that offer student loans in Pakistan
It is our duty to ensure that our young people do not have to leave education. If our young people do not receive education, it will reflect on the future of the country. Banks in Pakistan seem to be aware of this responsibility, which is why many offer student loans.
1. JS Bank
With JS Bank, you can dream of pursuing higher education not only at local universities, but also abroad. The bank provides scholarships of up to $70,000 per student per calendar year. Of course, this means that the desired university must be accredited.
Read more: HEC will award 50,000 scholarships under the Ehsaas program.
Entrance fees can also be added to the scholarships and there is no limit to the number of universities you can apply to. However, all such applications must be accompanied by documentary evidence. The scholarship covers tuition fees, living expenses and health, insurance, union sports, library fees, etc. It covers various costs such as
2. Alfalah Bank
Bank Al Falah has similar guidance when it comes to student loans for higher education. They also offer loans of up to $70,000. You only need to submit 5 documents. Application form, your practice, your parent’s practice, letter of acceptance and fee details.
3. MCB
In partnership with LUMS, MCB has good news for candidates wishing to pursue an MBA at university. The age group designated for the opportunity is 21 to 45 years. To receive this credit, you must have received a 50% mark on the final diploma examination and must be approved in writing by LUMS. Otherwise, you will not be eligible for the above scholarship.
4. LUB
UBL also offers students the opportunity to study at top universities in the country and abroad. Including your living expenses and tuition fee, you can easily finance it even if the total reaches $70,000.
5. nap
Graduate, master’s and doctoral students can use loans through the National Bank. However, the age of candidates should not exceed 21, 31 and 36 respectively. Note that if you get financing, the bank will pay your tuition and living expenses directly to your university. When it comes to funding for resources, you will get it directly.
Where and how to apply for student loans in Pakistan?
Due to rising education costs, it has become difficult for many students to continue their education. Then, student loans in Pakistan can help students fulfill their dream of obtaining a degree when they lack adequate financial support.
After students complete their education, they can start repaying their student loans to the relevant institution. Student loans are very common among students from international countries, including the USA, Canada, and Germany. Similarly, organizations in Pakistan have started offering student loans to students who want to complete their higher education.
1. National Bank of Pakistan (NBP)
The Government of Pakistan has collaborated with leading Pakistani banks including NBP, HBL, MCB and UBL to provide financial aid to students through the Student Loan Program (SLS). NBP is currently responsible for SLS and provides interest-free student loans. Students who meet the conditions can apply for a loan to be repaid to students or the university.
Students who receive the loan will have to repay them within 10 years, starting one year after receiving their degree or six months after starting employment.
Application Criteria:
Students must have scored at least 70% in the final exams.
Applicant student must be enrolled in a public sector university with the following fields of study: Engineering, Electronics, Mathematics, Physics, Medicine, Computing, Natural Sciences, Business Studies, Chemical Technology, Agriculture, Chemistry, and Islamic Jurisprudence.
The student who needs a loan must be 21 years old or younger for undergraduate programs and 31 years old or younger for graduate programs.
To apply for a PhD, a student must be 36 years old or younger. program
2. Ehsan Guven
Ehsan Trust is a non-governmental organization that provides support to the needy and works in rural development, education, skills development and care for orphans. The organization also provides assistance.
