Student loan is a type of financial assistance designed to help students pay for school-related fees, such as tuition, school supplies, books and living expenses. Many of these loans are offered to college students at a low interest rate. Typically, students are not required to repay these loans until the end of a grace period, which begins after they have completed their education.
How it works? Education loans are issued for the purpose of attending an academic institution and pursuing an academic degree. Education loans can be obtained from the government or through private-sector lending sources. Federal loans often offer lower interest rates, and some also offer subsidized interest. Private-sector loans generally follow more of a traditional lending process for application, with rates typically higher than federal government loans.
Habib Bank Limited
HBL School Finance
Features
Demand finance can be offered for expansion in existing premises or building of new campus, considering the existing and projected revenues.
Demand finance can be offered to upgrade/renovate the existing facility i-e furnishing etc.
Demand finance can be offered to schools operating on rented premises, where facility can be offered for owning the premises.
Auto Loan/lease can be offered for purchasing school van for student and/or staff as per existing bank policy.
Demand finance can be offered to beef up/install security system etc.
Disbursement in DF facility may be allowed in tranches considering the construction plan and the size of facility.
Limit will be assigned at 70:30 Debt/Equity ratio.
Running finance can be offered to schools in order to meet their payroll, utilities, rent expenses, fuel, stationary expenses and other working capital requirements.
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.
This product has been developed to offer financial assistance to students enrolled in Higher Education Programs. Currently, MCB Bank has formed a partnership with Lahore University of Management Sciences (LUMS) and is offering Student Personal Loans to all MBA and Executive MBA students of the University. AgeMinimum 21 years and maximum 45 years at the time of loan/first trance approval
General CriteriaGenerally, the student meeting the following criteria shall be eligible for the loan:
Be a Pakistani National.
Has got at least 50% marks (or equivalent) in the last public examination (i.e. other than admission tests, e.g. GMAT, SAT, LMAT, etc.) The same must be confirmed by LUMS in writing.
Must have a valid admission in and has provided admission acceptance to LUMS. Confirmation of finalized admission must be provided by LUMS in writing.
Maximum 80:20 of only Admission, Registration, Tuition, On-Campus Residence, and any other part/head/item of the fees that is payable in advance by the student to LUMS Moreover, the loan shall not cover any amount that is refundable to the student later on. Loan Amount Maximum PKR 1 million only
Soneri Bank has strived to spread literacy to the underprivileged youth of our society, through its involvement with educational initiatives.
Citizens Archive of Pakistan (CAP) CAP is a non-profit organization dedicated to cultural and historic preservation, aimed at educating the community and creating awareness about our nation’s history. In this context, they build and support educational programmes and develop educational product-based testimonies. To support CAP in achieving its mission, Soneri Bank extended its support by providing sponsorship for the fundraiser carnival in 2015. SOS Children’s Villages Pakistan SOS is a non-profit organization working towards the welfare of children deprived of their families. SOS’ team is working on providing shelters, higher education and job trainings to orphaned children which allows them to live a normal life. Soneri Bank supported this cause by contributing in the fundraiser event, “A tribute to the legends” in 2015.