Student loan schemes in Pakistan 2020

Here is the list of all study loan opportunities that students can avail to get a loan from any bank, NGO, civil society, and any organization that fund and finance your education. These loans are only for students who want to meet their educational needs and minor no financial resources.

Let me clear you that educational loans are given by banks, NGOs, Foundations, State institutions, the universities, and education commissions. The purpose of these loans is to enable a good student to continue his/her studies and help him with financial resources to pursue his/her dream education. So, After you complete a loan cycle, you must pay back your lender the whole amount and an extra amount as per the agreed interest rate. The interest rate on educational loans is very low.

Loans for students in Pakistan

Loans for Students in Pakistan

Currently, there only a few loan schemes active in Pakistan. I have listed here all the possible ways the students can get a loan. The loans must be your last choice. First of all you must try a scholarship. There are many kinds of scholarships for students in Pakistan. If you can get a scholarship, you may not find it necessary to go for a loan. Scholarships are of various kind and are usually for financially weak, intelligent and hardworking students.

The lenders in education have set their own eligibility criteria. You must be enrolled in approved universities, studying particular subjects, have a good academic history and backgrounds etc. Here is the list of all Loan opportunities for the students.

1. National Bank Student loan scheme

This scheme offers a loan to the students to meet their financial needs. The ministry of finance has an agreement with the state bank of Pakistan to ensure the availability of interest-free loan to the students:


  • The student must be enrolled in approved universities and colleges under this scheme
  • He must have obtained admission on merit.
  • His age must not exceed 21 for graduation, 31 years for post-graduation and 36 years for phd.
  • She/he must have secured at least 70% marks in all previous classes.
  • He/she really belong to a poor family and have no sufficient resources to meet his/her educational expenses
  • She/he must be enrolled in particular courses are given below:
chemistry, maths, economics, physics, agriculture, computer science, business management, medicine, engineering, electronics, statistics, commerce subjects, any natural science, LLB or LLM in Shariah, Information Technology

Terms and Conditions:

  • Bank will directly deposit your tuition fee for every semester/year to the university account. You will be be given cash.
  • The bill of all your hostel expenses including your meals will be deposited into your hostel's account by the bank. You will not be given cash.
  • You will be disbursed cash for your textbooks etc.
  • Here is the list of approved colleges/universities for this scheme
  • For more details visit NBP official page.

2. Bank Alfalah Personal Loan

Bank Alfalah is offering personal loans from 50,000 to 2,000,000 to meet the personal needs of the individuals. In their approved purposes of this loan, education is also mentioned. That simply means that you can apply for the loan and can get a loan for your education. As the personal loan is aimed at meeting the personal needs of the individuals, it can be used for anything like paying medical bills, the marriage of the children, renovation of the house, building a new house, buying a car or motorbike, establishing a new business etc. 


  • Age of the borrower must be between 21-60 years
  • You have to provide income proof for minimum 25000 monthly
  • Any salaried person, businessman, professional, housewife, and retired individual can avail this loan

Terms and Conditions:

  • The minimum tenure is 1 year and maximum tenure is 5 years
  • Affordable markup rates
  • No guarantee or security is required for this loan
  • You can show multiple sources of income to prove your monthly income to get higher loan.
For more details, you should visit Bank Alfalah's page.

3. HBL Personal Loan

This loan offers you the finance facility for your education from Rs 25,000 to Rs 2,000,000. This loan can be utilized for any purpose and it includes education too. 
  • The borrower must have an HBL account.
  • The borrower should be a salaried person but a business can also avail this loan.
  • The age must be between 21 and 60 years
  • for details visit their page.

4. Ihsan Trust Education Loan

Ihasn trust is a welfare trust that provides interest-free loans to the people of all professions. The trust is working on the principles of Qarza-e-Hasna. They do not charge any markup or interest. Their focus is poor and needy students who have outstanding abilities and are enrolled in the top and leading universities of Pakistan.

Eligibility criteria:

  • must be a Pakistani citizen
  • must have financial constraints in studies
  • should get admission on merit in a leading university of Pakistan
  • The total income of his family from all sources must not exceed 50,000
  • must not be currently benefitting from another loan scheme or scholarship scheme

Terms and conditions:

  • None of the applicant's family member or sibling is studying abroad with or without scholarship
  • The funds are directly transferred to the university account and the students are not given in cash.
  • for more details visit their page
5. MCB Student Personal Loan
Muslim Commercial bank offers personal loans to the students to meet their educational expenses. The students can avail a loan of upto 1,000,000 PKRs. The student must be a Pakistan national and should have got admission on merit. The financial need of the student is judged on various criteria.
Eligibility criteria:
  • Age must be between 21 and 45 years
  • Must be a student at LUMS
  • Must have secured at least 50% marks in all previous examinations
  • only 80% of the total expenses of the students can be covered under this loan.

This post is being updated ......

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