How and when to apply for Financial Aid?
Students can apply for financial assistance for the first year at the time of admission along with the online admission application. Financial Aid applications will not be catered to separately after the online application submission date. Financial aid cases of students are reassessed on a yearly basis.
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 I 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 at Undergraduate level?
There are three types of financial assistance offered by LUMS at Undergraduate level:
- Need Based Tuition Fee Waiver and Loan
- Merit Scholarship
Need Based Tuition Fee Waivers and Loans
This is a need based assistance provided only to undergraduate students in the form of tuition fee waiver and LUMS Interest Free Loan which covers 20% to 100 % tuition fee only. In case of Undergraduate Programmes of SBASSE, it will also cover the lab charges.
Other charges like admission, semester registration, security, hostel etc. will have to be paid by the applicant.
National Outreach Programme (NOP)
The National Outreach Programme provides educational opportunities to bright and talented students from smaller cities, villages and inner city areas of large urban centers, from low income groups who are unable to meet the Programme's complete costs. The NOP package includes the following allowances that are decided during/ post their interview and also vary from one student to another.
- Admission Fee
- Semester Registration Fee
- Tuition fee + Lab Charges (where applicable)
- Hostel Accommodation
- Resource Material Allowance
- Living Allowance
Although all NOP students get 100% fee waiver (tuition, admission & semester registration), the remaining facilities are subject entirely on the need assessment. NOP students are required to pay university and hostel securities.
Merit scholarship awards cover partial to full tuition fee for one year only and are awarded to 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 returning batches who are placed on Dean's Honour List based on their academic performance in subsequent years.
Please explain the criteria 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.