LUMS - Lahore University of Management Sciences SBS - Student Benefit Service
College of Admission Tests (Multan)
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LUMS - Lahore University of Management Sciences

LUMS Help Students

LUMS is a significant investment in yourself and your future. LUMS is committed to working with national and International students, So it provides opportunities to meet all of your demonstrated financial needs through scholarships and personal loans. A large number of students get benefits of these schemes each year.

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LUMS - Financial Assistance

Financing of a student’s education is a commitment involving the student, his or her family and institution. LUMS gears all efforts towards assisting as many students as possible.
Financial assistance is offered to students with demonstrated need. These awards at the Undergraduate level are available in the form of tuition fee waivers and do not have to be repaid. They cover partial to full tuition fee expenses of the program. The range of the amount of financial assistance over the last year has been between 20% and 100%.

Reassessment

Need base financial awards are reassessed in each academic year based upon performance and demonstrated financial need.

Financial Aid Selection Process

Every school has individual prerequisites and the selection criteria varies according to each student. At LUMS, the Financial Aid Committee assesses the need of each applicant. If the applicant qualifies for financial aid, all or some portion of the tuition and lab fee is given as a loan or tuition waiver.

Need Assessment

The Financial Aid Committee assesses the financial need of candidates and determines whether or not the candidates and their families have adequate resources to finance education at LUMS. The need is determined on the basis of the statement of financial resources submitted by the student at the time of admission, other sources of information (if required) and interviews of applicants by the Financial Aid Committee.

Physical Verification

Some percentage of Financial Aid cases are randomly selected and go through a physical verification process. During the physical verification process, if the committee finds that the information provided is false, the Financial Aid Committee carries the discretion to disqualify the student from attaining financial aid and can forward the case to the Disciplinary Committee (DC) for a more stringent action in case of significant concealment of financial information.

Note:

There will be no financial aid beyond 8 regular semester (summer not covered) to meet the 130 credit hours required for graduation in the BS/BSc (Hons) program and 10 regular semester (summer not covered) to meet 162 credit hours for BA-LL.B students required for graduation. Students who decide to take more than 130 credit hours will have to pay the dues for additional credit hours themselves.

Applications for Financial Aid

First Year
Students can apply for financial assistance for the first year at the time of admission. Application for financial assistance has no bearing on the admission decision. Only those students whose financial situation changes drastically due to unforeseen circumstances can apply for financial assistance during the year.
Subsequent Years
Financial aid cases of students are reassessed on a yearly basis. Students are required to submit their revised documents before the commencement of the next academic year. The deadline for the submission of documents will be specified by the Financial Aid Office via e-mail. However, for students and families facing drastic changes in their financial conditions e.g. retirement, death, layoffs from job etc., should submit their applications latest by May 31st of every year going forward.
The students will have to provide evidence in case of any change in their financial situation. Such requests must be addressed to the Head of the Department, Financial Aid and should be submitted latest by the above given due date. Otherwise the application may not be considered for that academic year.
It is the responsibility of the students, who are on financial aid to provide updated information of their family financials in case of any positive change and get their financial aid adjusted. The policy regarding penalty for dropping credit hours after the deadline is the same for all students, including those availing any kind of financial aid.

You are Responsible

Students who receive company sponosrship, as well as those who receive other forms of financial aid, are responsible for payment of their tuition by the specified due date, at the beginning of each term. If your employer refuses to pay; you will be responsible to pay the due amounts to LUMS.

What is Need

Need is the difference between the cost of education (tuition, room, board, fees, books and miscellaneous expenses) and the amount the student is expected to pay.

Need Assessment

After you are admitted, the Financial Aid Office determines your financial need and creates an aid package that may include loans, fellowships, or a combination, based on a variety of factors.

Jobs During Full Time Programs

Given the rigorous pace and range of academic activities, students should not plan to be employed during the academic terms.

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