When to Apply

 

Prospective Students

Students are required to apply online for financial aid at the time of submission of their admission application. The deadline is the same as of applying for admissions. Financial aid supporting documents need to be sent along with the admission package before or on the specified deadline. Independent financial aid applications are not entertained.

Current Students

Financial aid for students is reassessed every year. In order to continue the financial aid award in subsequent years, students must apply for financial aid each year on or before the dates specified by the Office of Financial Aid.

 

Assessment Process

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. The decision and its review follow the stages outlined below:

  1. Students who apply for financial aid are required to submit requisite documentation by the deadline specified by the Office of Financial Aid each year.
  2. The staff at the Office of Financial Aid checks and reconciles the information on the financial aid form against the documents provided including their tenor and validity; seeking clarifications from the applicant/ student on anomalies, if any.
  3. Applicants are contacted for retrieval of discrepant documents (where necessary)
  4. Student Evaluation Summary sheets are prepared that contains a brief summary of the credentials provided covering all the aspects to be presented to the financial aid committee for final decision.
  5. Interviews are conducted where recommended by the committee.
  6. The LUMS Financial Aid Committee assesses each case through the summary sheet and reviews supporting documents before making their decision which is purely based on need.
  7. Decision is communicated to the students through an official Letter of Financial Arrangement.

The Office of Financial Aid (OFA) reserves the right to conduct periodic reviews to ensure the award is granted to the needy students only. Financial aid grant/ interest free loan is approved only for one year and is subject to the aforementioned review.

The process is conducted at the beginning of each year where students and parents are approached by the OFA to submit the requisite forms and supporting financial documents. Failure to comply with the given deadlines for document submission could lead to cancellation of financial aid.