HEC establishes Online Scholarship Disbursement System
ISLAMABAD: The Higher Education Commission (HEC), United States Agency for International Development (USAID) and National Bank of Pakistan (NBP) celebrated the launch of new online method for scholarship disbursement mechanism of the USA IDfunded Merit and Needs-Based Scholarship (MNBSP) in 30 partner universities across Pakistan during signing of a Memorandum of Understanding between HEC and NBP. This online system is part of USAID's multi-year $ 36 million Merit and Needs-Based Scholarship
Programme and is the first programme at HEC to adopt an online disbursement mechanism. Under this programme, students will be issued ATM cards so as to facilitate them in withdrawal of funds for both tuition payments and living expenses. In this connection, NBP accounts have been opened for 1,470 awardees at 30 partner universities throughout Pakistan. First payments using the new system will be made during next week.
Addressing the ceremony, Dr. Arshad Ali, Executive Director, HEC said, "the conventional methods of stipend disbursement have involved lengthy procedures at the partner universities, which frequently delayed stipend release to the scholarship recipients. Now, through the new online stipend disbursement mechanism, students will receive payments directly into their bank accounts, ensuring maximum efficiency."