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How to Apply for a Student Loan in Pakistan

If you are a student, you must already be aware that getting an education in the country is no piece of cake. And due to increasing academic expenses, it becomes difficult for many students to continue their education. Student Loans in Pakistan can help students fulfill their dreams of getting a degree when they don’t have enough financial assistance.  And once they complete their education, they can pay back the loan to the organization they got it from. Some organizations require students to pay small amounts while they study.

Student loans are quite common among students of international countries including America, Canada, and Germany. But in Pakistan, organizations have started offering students loans to students who aspire to finish higher education.

Organizations that Offer Student Loans in Pakistan

Here’s a list of few organizations that offer financial aid to students so they can get a university degree either nationally or internationally.

National Bank of Pakistan (NBP)

The Government of Pakistan has collaborated with prominent banks in Pakistan including NBP, HBL, MCB, and UBL to provide students financial assistance through a student loan scheme (SLS).

The NBP is currently in charge of SLS and provides students with loans without any interest. The loan will either be paid to the students or directly to the university.

Students who avail the loan will have to repay it back in a 10-year duration that will begin a year after they’ve graduated or 6 months into employment.

Application Criteria:

  • Students must have at least 70% marks in their recent exams.
  • The applying students must get admission to a public sector university that covers the following area of study including Engineering, Electronics, Mathematics, Physics, Medicine, Computer Sciences, Natural Sciences, Business Studies, Chemical Technology, Agriculture, Chemistry and Islamic Jurisprudence.
  • The students in need of loan must be 21 years old or younger for bachelor programs and 31 years or younger for master’s programs.
  • Students must be 36 years old or younger to apply for Ph.D. programs.
You can view more details about the loan or download the application form from here: NBP Student Loan

Ihsan Trust

Ihsan Trust is an NGO that offers support to people in need and operates in rural development, education, skill development, and orphan care. Moreover, the organization also provides aid and assistance during natural disasters.

The organization provides student loans in Pakistan called ‘Qarz-e-Hasana’, an Interest-free loan that varies from student to student according to their needs.

Students must pay a repayment token amount while they study, the repayment token is determined by the income of their parents or guardians. They will have to repay the full amount based on their monthly income after they finish their studies.

To get more insight into the Ihsan Trust Student Loan program read here: Qarz-e-Hasna (Interest-free loan) by Ihsan Trust.

Akhuwat Foundation

Akhuwat Foundation is a popular NGO in the country and offers assistance to citizens belonging to low-income groups in Pakistan. And they provide student loans in Pakistan free of interest ranging from Rs. 10,000 to 50,000 to students in need.

Those belonging to low-income backgrounds who have completed their matriculation can get the loan until their Masters’ education. Students or their parents/guardians can repay the foundation through installments.

Read more about the Akhuwat Foundation’s student loan program from here: Akhuwat Foundation Student Loan Process.

Al Khidmat Foundation

Al Khidmat Foundations’ Mawakhat program offers interest-free loans to students who want to continue their higher education.

Students can avail up to Rs. 35,000 loans and repay it in a time frame that will be given to them by the foundation.

For more details about the Mawakhat program, visit: Mawakhat by Al Khidmat Foundation

Professional Education Foundation

The Professional Education Foundation offers loans to students for fields of Engineering, Business, IT, Management, Agriculture and Medicine.

The loans are given based on need and merit and will be provided directly to the universities that are part of the PED board. The universities include:

  • The University of Engineering and Technology
  • The University of Peshawar
  • National University of Sciences and Technology
  • Fatima Jinnah Medical College
  • Quaid-e-Azam Medical College

Students would have to pay Rs. 300-500 in 12 installments and start repaying the loan 6 months into employment.

Read more about the PEF student loans in Pakistan here: PEF Loans

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Usman nawaz
Usman nawazhttps://www.evergreenpakistan.com
Usman Nawaz is a happy-go-lucky person with a knack for writing! He loves writing Urdu poetries and prefers reading in his free time. Apart from it, he enjoys writing on several other niches such as traveling, food, beauty, life, and mental health. He loves Elif Shafak and definitely the "Forty Rules of Love". He believes in being kind and thoughtful and prefers the company of people who radiate such energy.
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