Student Loan in Pakistan | Eligibility Criteria & Tips

The financial burden of education can lead students to borrow money from friends or family to pay their tuition fees. It requires Pakistani students to know how to benefit from different government and private loans to cover their educational expenses.

This guide will help Pakistani students get education loans quickly to pursue their studies without financial pressure by following the different tips. Moreover, this article also covers the Pakistani Student Study Loan Program, its eligibility criteria, and its advantages.

Understanding Student Loan in Pakistan

Understanding Student Loan in Pakistan

Student loans in Pakistan provide financial assistance to those students who cannot pay their educational expenditures. Different organisations, including banks and other financial institutions, offer different types of loans.

Generally, banks offer up to two million rupees and ten million rupees for higher education in Pakistan and abroad, respectively. The interest rate on loans for higher education in Pakistan is lower for abroad education.

Students have almost 10- and 15-year repayment periods for higher education loans in Pakistan and abroad, respectively. Otherwise, the lending institutes can take legal action against the student or the guarantor in case of late repayment.

Eligibility Criteria & Requirements

Pakistani students enrolled in government-approved colleges or universities can apply for student loans. Moreover, the students must be Pakistani nationals, having a minimum of 70% marks in the recent exams passed. They also need a Pakistani national guarantor with a good credit history and stable income source.

Pakistani students can visit the nearest bank branch which offers student loans. They will also have to submit these documents:

  • Academic Certificates
  • Admission Letter
  • ID Card

Tips for Pakistani Students to Get Educational Loan

Tips for Pakistani Students to Get Educational Loan

The following are some of the easy tips Pakistani students can follow to make the process of getting an educational loan less complex:

Advance Planning

First, you should consider how much financial assistance you need and submit the financial assistance application to your college or university. This way, you can get help for different educational expenses, such as books, tuition fees, etc.

Eligibility Criteria Check

You must consider different factors before applying for a student loan. Different loan programs have different eligibility criteria; you must check the individual plans separately before applying.

Gathering Essential Documents

You should have all the required documents before applying for the student loan. It will help you apply timely and reduce the risk of application rejection as you will provide all the essential documents.

Some of the necessary documents include:

  • Citizenship and Residence Proof
    • CNIC
    • Birth Certificate
    • Driving Licence
    • Passport
  • Financial Assistance Proof
  • Assets and Liabilities List
  • Checking Accounts
  • Debt amount on any credit card
  • Savings Accounts
  • Real Estate Holdings
  • Other loans you owe

Calculating Study Expenditures

Before applying for student loans, you should calculate all the needed expenses as it gives you a clear picture of the required amount of money. You should consider your tuition fees and living expenses while making calculations.

Applying for Scholarships

Scholarships help you reduce study expenses, leading towards an inexpensive education as they cover financial aid for students. In this way, low-income family students can continue and complete their education. Obtaining a local or national level scholarship is a much better and more practical option for students who want to enrol in higher education.

Applying for Federal Loans

The government of Pakistan offers federal loans for which undergraduate and postgraduate Pakistani students can apply. These loans are need-based with lower interest rates to help low-income families, making higher education affordable.

Considering Low-Interest Loans

There are different private loans in Pakistan whose interest rates vary from 2% to 12%, and you should explore such options. These loans usually require less paperwork and offer customised interest rates for post-graduation and professional degrees.

You must write an excellent and persuasive application for getting an educational loan. Moreover, it would help if you asked the lender all the questions that come to your mind to make an intelligent decision.

Pakistani Student Study Loan Program

Pakistani Student Study Loan Program

The Government of Pakistan is sponsoring the Pakistani Student Study Loan Program. It offers student loans to students who are enrolled in particular study fields. This program offers up to Rs. 5,00,000 as a loan to cover the cost of purchasing books, tuition fees, and other expenses.

Eligibility Criteria

The eligibility criteria for this loan program are as follows:

  • Age (between 18 and 35 years)
  • Graduation student’s age not more than 21 years
  • Postgraduate student’s age not more than 31 years
  • Doctorate student’s age less than 36 years
  • 70% marks in the latest exam passed
  • Family income less than Rs 1.2 million per annum
  • Students enrolled in a 2year diploma or 4years Bachelor’s degree program
  • Students enrolled in HEC-approved higher education institute

If you fall in the above-mentioned criteria, you can submit an application for this loan program along with your student card copy. Once you get approval, funds get deposited into your bank account every month until your studies are completed.


  • 0% interest rate
  • Delayed repayment option for students who cannot pay back the loan during studies
  • Payment option after getting employment
  • Fees and other educational expenses are covered

Students can repay this loan monthly through interest-free instalments, which automatically get deducted from their bank accounts.

Importance of Savings

Importance of Savings

Although Pakistani students have different education loan options, they should also focus on saving money to cover their study expenses. They can start saving money well before time. Moreover, they can set up a bank account to deposit the saved money.



The student loan helps needy students with good performance to pursue their education without worrying about financial limitations. It assists them in fulfilling their dream of education with the amount of loans.