The State Bank of Pakistan (SBP) has said that interest free loans (Student Loan Scheme) have been approved for deserving students studying in universities across Pakistan.
On the approval of interest-free loans SBP said in a statement that The Apex Committee has approved the student loan scheme. The Apex Committee included representatives of five major Pakistani banks, including the State Bank and the Finance Division.
According to SBP statement, a total of Rs 82.6 million has been approved under the scheme. Eligible students studying in government universities across the country will be provided interest free loans.
According to the SBP, these loans are being given to deserving students for a period of more than 10 years.