Frequently Asked Questions (FAQs)
Is everyone eligible to apply for financial assistance?
Yes, every applicant who is applying for admission may apply for financial assistance.
Does applying for Financial Aid have any bearing on admission?
No, the request for financial assistance has no adverse effect on the admission decision.
Can a student apply for the financial aid during the semester/ year?
Only those students' whose financial situation changes drastically due to unforeseen circumstances e.g. retirement, death, layoffs from job etc., can apply for financial assistance during the semester/year.
How many types of Financial Assistance are offered in the MS programme?
There are three types of financial assistance offered by LUMS in the MS programme:
- Merit Scholarships
- LUMS Interest Free Laon
- External Scholarships
Merit scholarship awards cover partial to full tuition fee for one year only and are awarded to top two students in the admitted batch based on LUMS Admission evaluation ranking for the first year.
Merit scholarship awards cover partial to full tuition fee for one year only and are awarded to the top two students in each MS Programme based on academic performance during the year.
LUMS Interest Free Loan
This is a need based interest free loan provided only to MS programme students, which covers 20% to 100% tuition fee only.
There are a number of named scholarships available for graduate students. LUMS supporters include individuals and organizations from all over the world.
What is the criterion of awarding financial assistance?
The Financial Aid Committee assesses the financial need of candidates and determines whether or not the candidate’s family has adequate resources to support the fee at LUMS. The need is determined on the basis of the financial credentials submitted by the student.
What is meant by Physical Verification?
The Office of Financial Aid carries the discretion to physically verify the facts provided through credentials by the student applying for financial aid at any point of time during the study tenure at LUMS. It may include a visit to the student’s house/ business premises or inquiry from the surrounding neighbors.
Can a student appeal for review of the financial assistance decision?
There is an appeal process in place in which the LUMS administration accepts requests from students who have additional information to declare, which may have been missed during the initial assessment.