NBP Student Loan Scheme
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National Bank of Pakistan has invited applications from eligible students for grant of loans. Application form may be downloaded here and also at the designated branches of NBP. All the interested students are required to fill up the application form and submit to VU for verification on well before the last date which is February 27, 2010. The same form will be returned to the student after necessary attestations for onward submission to NBP designated branches by the students. Students are advised to read the instructions carefully given with the application form and attach all the documents as required by the bank. Virtual University has to certify only that he/she is a bonafied student at this university while the application will be processed by the bank to decide whether or not a loan is to be granted.
FACILITY OF INTEREST-FREE LOAN TO THE STUDENTS OF PUBLIC SECTOR
UNIVERSITIES AND INSTITUTES
The State Bank of Pakistan had launched an interest-free loan scheme for students of public sector Universities, Institutes Colleges in February, 2001. The objective of scheme was to provide financial assistance to the meritorious students who obtain at least 70 % marks in the last examination and are unable to pursue their studies within Pakistan due to financial constraints. Such loans are available to students for tuition fee, purchase of text books/ reference books and boarding expenses.
The National Bank of Pakistan has devised a procedure for inviting applications from students and its processing for the grant of loans. The same is available in their designated branches in all major cities along with prescribed application form.
In its earlier notification of the National Bank of Pakistan, some Universities established in the public sector were not listed in this scheme. The case was taken up by the HEC with the Sate Bank and followed up vigorously. It has now been decided by the State Bank to include all public sector Universities and Institutions recognized by HEC for the facility of interest-free loan for the students
The students of Virtual University of Pakistan that meet the above criteria are highly encouraged to apply to National Bank of Pakistan for interest-free loan.
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