The NBP Students Loan Scheme (SLS) supports deserving students pursuing technical and professional degrees in Pakistan’s public universities/colleges. Recently, the State Bank of Pakistan’s Apex Committee approved interest-free loans totaling Rs. 33.851 million for 518 students for the academic sessions 2017-2018, 2018-2019 & 2019-2020.
Key Takeaways
- Loans approved for 518 deserving students for academic sessions 2017-2018, 2018-2019 & 2019-2020.
- Verification of student details within fifteen days is crucial to avoid issues later.
- Loan recall possible for misrepresentation or incorrect submission of documents.
- Eligibility criteria include admission on merit, specific age limits, and academic performance.
- Loans cover various expenses and have a repayment period of up to 10 years.
Key Announcement
The approved amount is meant to aid students pursuing degrees in various fields such as Graduation, Masters, M.Phil, and Ph.D programs within Pakistan. It’s important to note that the disbursement of Rs. 33.851 million must be completed within 45 days from the receipt of the Sanction Advice by the eligible student. Any delay requires clearance from the Students Loan Wing, NBP, Head Office, Karachi.
Important Instructions
Successful students need to verify their details (names, addresses, CNIC numbers, etc.) within fifteen days of this announcement. They can send correction requests via email if needed. Additionally, any misrepresentation or incorrect submission of the “Income Certificate” can lead to the immediate recall of the loan, even at a later stage.
About the Student Loan Scheme
The scheme, initiated after the announcement made by the Federal Finance Minister in 2001-2002, offers interest-free loans to meritorious students facing financial constraints in pursuing Scientific, Technical, and Professional education within Pakistan. Administered by the National Bank of Pakistan, it collaborates with major commercial banks.
Eligibility Criteria:
To qualify for the loan, students must:
- Gain admission on merit in approved public sector universities/colleges.
- Meet age criteria: 21 years for Graduation, 31 years for Post-Graduation, and 36 years for Ph.D.
- Secure 70% marks in the last public examination.
- Study approved subjects due to financial constraints.
Loan Details
- The loan covers the following expenses:
- Scheduled fees
- Boarding expensesexcluding (meal charges)
- Procurement of textbooks
The repayment period for the loan is a maximum of 10 years. The repayment begins either six months after the first employment or a year after completing studies, whichever comes earlier.
Approved Subjects
The loan applies to various disciplines, including Engineering, Medicine, Economics, and more. A detailed list is available on the National Bank of Pakistan website.
Additional Information
- Application forms can be obtained from designated branches or downloaded from the NBP website.
- Students should submit two sets of application forms to the designated branches, meeting all requirements by the specified date.
- Those who availed the loan in previous years need not reapply.
FAQs – People Search on Google:
Q: Who is eligible to apply for the Student Loan Scheme (SLS)?
A: Students who secure admission on merit in approved public sector universities/colleges, meet age criteria, and face financial constraints can apply. Specific age limits are set for different academic levels.
Q: What are the approved subjects for which the loan is applicable?
A: The loan covers a range of disciplines including Engineering, Medicine, Economics, Computer Science, and more. The complete list can be found on the National Bank of Pakistan website.
Q: What expenses does the loan cover?
A: The loan caters to scheduled fees, boarding expenses (excluding meal charges), and procurement of textbooks.
Q: What is the repayment period for the loan?
A: The maximum repayment period is 10 years, starting six months after the first employment or a year after completing studies, whichever is earlier.
Q: Where can students get application forms for the loan?
A: Application forms are available at designated bank branches or can be downloaded from the National Bank of Pakistan website.
Q: Can students who have availed the loan in previous years reapply?
A: No, students who have previously benefited from the scheme do not need to reapply.
