Our current PM, Mr. Nawaz Sharif has taken a small step towards a progressive tomorrow by announcing a student loan scheme for Pakistani students. This scheme has been divided into six different sections and the total amount is kept save for this purpose is over 20 million Pakistani rupees. The students belonging to different universities, studying for graduate, post graduate or doctorate degrees can enjoy the benefits of this student loan scheme. Here is a brief of the sections to get avail the facilities of the current student loan scheme.
- First in the scheme is micro interest free loan under which Rs. 3.5 Billion has been allocated to be distributed among 250,000 disadvantaged students.
- Small Business Loan scheme has been designed for educated men and women for securing Rs. 500,000 to Rs. 2,000,000 loan on subsidized interest rate of 8%. Loans will be awarded for starting small businesses. Loan will be available from various bank but initially National Bank of Pakistan and First Woman Bank will initiate the process of distributing Rs. 5 Billion under this scheme.
- Internship Program will give an opportunity to 50,000 students having completed 16 years of education from recognized universities to get 6 months training for securing jobs later in their career. Apart from training, students will be given Rs. 10,000 stipend per month. Rs. 4 Billion have been earmarked for this scheme.
- A similar scheme has been announced for the students (boys and girls) who have cleared 8th grade. Under this Skill Development scheme, technical training will be provided to the students for six months for Rs. 800 million. A scholarship of Rs. 5,000 would also be given to each student.
- Fifth in the list is Sponsoring Tuition Fee in less developed areas of Pakistan such as FATA, Gilgit-Baltistan and Baluchistan where 30,000 bright students of M.A, M.Sc and Doctorate level will be supported in their educational fee up to Rs. 40,000 per student against a total allocation of Rs. 1.2 Billion for this scheme.
- Last but not the least is the famous Laptop Scheme that Shahbaz Sharif started in Punjab in his previous tenure. For Rs. 4 Billion this year, 100,000 laptops will be distributed by Federal Government among the bright students in all the provinces
I must say this is a good step and a serious thought of our PM to make sure that none of the Pakistani student is left without high education just because of the lack of money. Now a student can get higher education as he needs not to worry about the fees and other expenses.