National Bank Of Pakistan Announces Student Loan Scheme

The national bank of Pakistan has announced the student loan scheme to offer financial aid to deserving and needy students. The project was initially launched by the government of Pakistan in collaboration with many commercial banks of Pakistan such as NBP, HBL, UBL, MCB, and ABL. The main purpose is to provide Interest-Free Loans to meritorious students so that they can continue their studies without having any financial constraints. The administrator of the scheme is the National Bank of Pakistan along with the high-powered committee comprising of Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks, and representative of Ministry of Finance, Government of Pakistan. The maximum period of repayment of the loan is 10-Years from the date of payment of the first installment.

Eligibility Criteria

Following is the eligibility criteria to apply for the student loan scheme

• The candidates must have obtained admission on merit in the approved Universities/Colleges of the public sector 
• At the time of admission the candidates should have the age limit For Graduation Not exceeding 21 Years, For Post-Graduation Not exceeding 31 Years and For Ph.D. Not exceeding 36 Years.
• The candidate has secured 70% marks in the last public examination.
• The candidates have undertaken the study of the subjects according to provided lists such as Engineering, Electronics, Oil Gas & Petro-Chemical Technology, Agriculture, Medicine, Physics, Chemistry, Biology, Molecular Biology & Genetics, Mathematics, Other Natural Sciences, DAWA, and Islamic Jurisprudence, Computer Science/Information, System and Technology including hardware, Economics, Statistics, and Econometrics, Business Management Sciences and Commerce
• The candidate is unable to pursue studies due to financial constraints.

Submission Of Application Form

• The authorities will not entertain the application form in case it is not properly filled and found with missing documents. 
• The candidate must attach two photographs, attested photocopies of Fee Challan, Income certificate from the employer i.e. government, income certificate from the area counselor of the union council, attested photocopies of domicile, computerized CNIC of parent and student, attested photocopies of all educational certificates, principal/registrar of the concerned university letterhead along with the application form.
• The application shall be considered on merit according to funds available to provide the loan. Any application which is not made on the prescribed form or submitted late or is un-signed or does not contain the required particulars and documents will not be entertained in any case.