ihsantrust.org Qarz-E-Hasna (Interest Free Loan) For Higher Education Pakistan : Ihsan Trust

Organization : Ihsan Trust
Type of Facility : Qarz-E-Hasna (Interest Free Loan) For Higher Education
Country: Pakistan

Website : https://ihsantrust.org/

Qarz-E-Hasna (Interest Free Loan) For Higher Education:

One of the major focus of the trust is in the domain of providing Qarz-e-Hasna (Interest free loan) for Education to the needy and deserving students of major and leading universities of Pakistan.

Related : Diya Pakistan Apply For Qarz-e-Hasna Facility By Ihsan Trust Rawalpindi : www.statusin.org/8947.html

Through this scheme the Ihsan Trust bears the educational expenses of the students on purely “Need cum Merit” basis in order to enable them to complete their Higher Education.

The repayment policy for the Qarz-e-Hasna is as follows:
** The amount of Qarz-e-Hasna sanctioned to the selected student depends on his/her need and eligibility.
** During the study period, the student has to pay a nominal, token repayment amount (depending upon the financial position of the candidates, his/her parents/guardians monthly income) to the Ihsan Trust as repayment.
** After the completion of his/her education, the repayment amount for the Qarz-e-Hasna is to be adjusted according to the income of the student

Memmorandum of understanding:
In order to proceed with the sanctioning of Qarz-e-Hasna to the students, Ihsan Trust first signs Memorandum of Understanding (MoU) with the institute/ University. As per MoU, the university initially select and shortlist the candidates for this scheme. The cases are then forwarded to the Ihsan Trust which after proper analysis of the documents then conducts the interviews of the candidates to assess their exact need and requirement of financial assistance.

The managing trustees then finally approves the student for this Qarz-e-Hasna facility and the funds of the Qarz-e-Hasna are then transfered in the University account on the behalf of the student. Nothing, not a single penny is given in the hands of the selected students.Monthly token repayment from the student starts from the very next month.

Throughout this process, the university help and assist Ihsan Trust by awareness campaigns, ensuring timely repayments by the students and acting as an intemediary between the Turst and the students.

Criteria:
Family Profile:
** Total number of family members, dependants and their status
** Number of students in the family and the status of Institutions in which they are studying

Income:
** Income from Salary
** Income from Business
** Agriculture Income
** Income from Investments
** Income form properties

Expenditure:
** Usehold expenses
** Educational Expenses
** External Liabilities (loan repayments, credit card payments etc)
** Other expenditure

Other Factors:
** Residence and accommodation status
** Pattern of family’s spending
** Expenditure on Air travel (essential and non essential)
** Luxury spending (club membership, dining out)
** Siblings studying overseas
** Savings & Investments
** Other financial support available from family or relatives

Limitations:
The following categories of students will not be provided the financial assistance:
** Students having access to other types of coverage for education cost, including education benefit by employer, education insurance schemes, Government (local, provincial or Federal) support, any other facility
** Students with siblings studying abroad (with or without scholarship)

Contact:
Call us at: +92-331-00-IHSAN (44726)
Fax: +92-21-36406053
Email at: info@ihsantrust.org