The Apex Committee for Student Loan Scheme having representation from the State Bank of Pakistan, Finance Division and five major banks (NBP, HBL, UBL, ABL and MCB Bank) has approved Rs82.6 million in interest-free loans for deserving students for their studies in Pakistan. According to a statement issued on Friday, the amount, approved by the Apex Committee, will be disbursed to 518 deserving students of public sector universities across the country, studying in different disciplines of under-graduation, graduation and PhD studies. The objective of the Student Loan Scheme is to provide financial assistance to the meritorious students having insufficient means. Loans are granted for a maximum tenure of 10 years from the date of disbursement of first installment and are 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. 

Published in The Express Tribune, August 21st, 2021.

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