Student loan scheme: Apex Committee approves Rs173m

KARACHI: The Apex Committee of Student Loan Scheme has approved Rs173.57 million for interest-free loans for deserving students who want to pursue higher studies within Pakistan, said a statement released by the State Bank of Pakistan (SBP) on Friday. An endowment fund of Rs500 million was created in 2001-02 for this scheme. NBP operationally administers the scheme by receiving and scrutinising student loan applications, disbursing loans as well as investing endowment funds. Loans approved under the scheme will be disbursed to 1,072 students of the 2012-13 session pursuing studies in different disciplines of undergraduate, graduate, MPhil and PhD studies from public-sector universities in Pakistan. The committee also approved the constitution of a sub-committee, with representatives from the SBP and member banks, to revisit the existing student loan scheme and suggest improvements. The sub-committee will also devise measures and identify funding sources  for increasing the endowment fund, the statement said.

Published in The Express Tribune, October 25^th, 2014.

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