All You Need to Know About Student Loan Scheme 2021 [Eligilbity Criteria+How to Apply]

Pursuant to the announcement made by the Federal Finance Minister in his 2001-2002-budget speech, a 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). Under the Scheme, financial assistance is provided by way of Interest Free Loans to the meritorious students who have financial constraints for pursuing their studies in Scientific, Technical and Professional education within Pakistan.

The Scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.

The new student loan scheme 2021 Pakistan has been announced publicly to facilitate a maximum number of students who want to pursue their education but are not financially strong enough to continue studying. There are three types of student loans is offering. All the students are studying in Graduation/Post-Graduation/PhD. The repayment of the loan period is 10-years, and students can submit through instalments. The further details are given below;

Student Loan Scheme 2021 Eligilbity Criteria

Under the scheme the students are eligible to apply for loans provided:

  • He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector (List Attached) mentioned hereunder.
  • He/She falls at the time of admission within the age bracket of:
For GraduationNot exceeding 21 Years
For Post-GraduationNot exceeding 31 Years
For PhDNot exceeding 36 Years
  • He/She has secured 70% marks in the last public examination.
  • He/She has undertaken the study of the subjects given below.
  • He/She is unable to pursue studies due to financial constraints.

Types of Students Loan

The loan facility will be available for entire duration of the study for:

Schedule FeePaid directly to the University/College
Boarding expenses excluding meal charges
Procurement of textbooksDisbursed directly to the student

Repayment of Loan Procedure:

The maximum period of repayment of loan is 10-Years from the date of disbursement of first installment. The borrower shall repay the loan in monthly installment after six months from the date of first employment or one year from the date of completion of studies, which ever is earlier.

Approved Subject For Student Loan

  1. Oil Gas & Petrol-Chemical Technology
  2. Medicine
  3. Chemistry
  4. Mathematics
  5. DAWA and Islamic Jurisprudence (LL.B/LL.M Sharia)
  6. Economics, Statistics and Econometrics
  7. Commerce
  8. Electronics
  9. Agriculture
  10. Physics
  11. Biology, Molecular Biology & Genetics
  12. Other Natural Sciences
  13. Computer Science/Information
  14. System and Technology including hardware
  15. Business Management Sciences

How To Apply For Student Loan 2021

  • Application Forms are available from the designated branches mentioned above or may be downloaded from National Bank of Pakistan website
  • Students are advised to submit (2) two 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 afore-mentioned.
  • 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.

Contact Details:

For further clarification and guidance, applicant(s) may contact Mr. Muhammad Tahir Hafeez, VP / Wing Head, Students Loan Wing, National Bank of Pakistan, Head Office, Karachi.

  • Telephone No. 021-99220026, and 021-9922100- Ext.2637
  • Fax No. 021-99220421.

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