Student loans are always a good way to fully or partly finance your education.
National Bank of Pakistan is offering interest free student loans to all students of Pakistan (Qarz e Hasna) The loan covers the actual tuition fee, living expenses and cost of books. It is available both at the bachelors level and at the MS level as well.
The repayment of loan starts once you graduate and get a job or one year after graduation. You just pay back the principle amount and no interest. You have to pay back the loan in 10 years which makes it really easy to pay it back.
Lets take an example. Let us say you want to study BBA. It is a four year program with average and typical tuition fee of Rs 60,000 per semester. So in four years you ll take a loan of 60,000 X 8 = Rs 4,80,000/- for payment of tuition fee and around Rs 8000 per month as living expenses which comes to around Rs 400,000. So the total loan would be around Rs 900,000. You have to pay this back in 10 years so your monthly installment would be Rs 8000 per month which you can easily afford after getting a job.
The NBP student loan is available in the following areas of studies.
Engineering, Electronics, Oil Gas & Petro-Chemical Technology, Agriculture, Medicine, Physics, Chemistry, Biology, Molecular Biology & Genetics, Mathematics, Other Natural Science, Dawa and Islamic Jurisprudence , (LL.B/LL.M Sharia) , Computer Science/Information, System and Technology including hardware ,Economics, Statistics and Econometric, Business Management Science, Commerce
You need to have secured 70% marks in your last examination to be eligible for this loan.
You can apply and get more information including application forms at
If you have any questions you can ask it in the discuss forum below and I ll try to answer it shortly
Filed Under: Pakistan