SBP apex body ap­proves Rs 109.22m for stu­dent loans

The Pak Banker - - FRONT PAGE -

KARACHI: State Bank of Pak­istan Apex Com­mit­tee for Stu­dent Loan Scheme, ap­proved Rs 109.22 mil­lion as in­ter­est-free loans to de­serv­ing stu­dents for their en­tire pe­riod of higher stud­ies within Pak­istan. The amount, ap­proved at a meet­ing of the Apex Com­mit­tee, State Bank of Pak­istan (SBP) headed by its Deputy Gov­er­nor Saeed Ahmed will be given to 729 stu­dents of pub­lic sec­tor univer­si­ties across the coun­try, study­ing in dif­fer­ent dis­ci­plines of un­der­grad­u­a­tion, grad­u­a­tion and Ph.D stud­ies for the ses­sions 2013-2014 and 2014-15. It may be re­called that Stu­dent Loan Scheme was an­nounced in FY-02 fed­eral bud­get with the ob­jec­tive to pro­vide fi­nan­cial as­sis­tance to the mer­i­to­ri­ous stu­dents hav­ing in­suf­fi­cient means. The loans are granted for a max­i­mum re­pay­ment time of 10 years from the date of the dis­burse­ment of first in­stall­ment and re­payable in monthly in­stall­ments af­ter six months from the date of first em­ploy­ment or one year from the date of com­ple­tion of stud­ies, whichever is ear­lier. Na­tional Bank of Pak­istan (NBP), be­ing the ad­min­is­tra­tor of the Scheme, per­forms all the func­tions from re­ceiv­ing of the ap­pli­ca­tions and scru­tiny of the ap­pli­ca­tions to pay­ment and re­cov­ery of loans.

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