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

Student Personal Loan

MCB Student Personal Loan (SPL) Facility
The Lahore University of Management Sciences (LUMS) has entered into an agreement with MCB Limited through which the bank provides commercial loans to MBA students of the Suleman Dawood School of Business (SDSB). The commercial loan facility is pivotal for students who are currently financially unable to afford the cost of tuition and living facilities. This facility is one of the first of its kind in Pakistan.

Key features of the loan

  • A maximum of 80% of the tuition, registration, admission and hostel fees is covered. However loan will be awarded based on student need as determined by MCB.
  • Maximum two year loan amount is PKR 1.0 Million disbursed in tranches before the beginning of each term.
  • Markup will be accrued at 6 months KIBOR + 2%. KIBOR will be reset on 6 monthly basis. The 2% spread over KIBOR will remain unchanged over the tenor of the loan.

Repayment of the Loan

Repayment of principal and accrued mark up will begin six months after graduation, will be on monthly basis and will be completed over a maximum period of 6 years from the date of graduation.
  • The monthly amount paid by the Student will consist of the loan repayment
  • There is no prepayment penalty charged by MCB on early settlement of the loan.
  • Student will be asked to provide a guarantor in the form of a parent/guardian to support the application.
  • Student will not be allowed to apply for any fresh financing from any institution without MCB’s consent until repayment of this loan commences.
  • The entire outstanding amount will have to be repaid on immediate basis if the student exits the program or is asked to leave by LUMS.
  • In case of approval of loan, disbursement will be made directly to LUMS on account of the student.

Application After Admission

Most financial aid received by LUMS students is in the form of personal loans. Loans carry a legal obligation to repay principal after completing the degree. All students will receive detailed information about this option once admitted.
All Pakistan citizens who apply for financial aid after being admitted to LUMS should file a Free Application for loan.

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