1) PREAMBLE
1.1. Qarz-e-Hasna Scheme has been introduced at Bahria University from Fall-2016 with an objective to financially support students belonging to less privileged class of society. Through this scheme the University will bear the educational expenses of the students on “Need cum Merit” basis in order to enable them to complete their Higher Education. The overall objective to introduce Qarz-e-Hasna at BU is to uplift the socio economic condition of society through supporting financially weak students and to inculcate in our youth to pay back the community once they get financially stable.
2) ELIGIBILITY CRITERIA
2.1. Following are the eligibility criteria to apply for Qarz-e-Hasna Scheme:
(a) Qarz-e-Hasna will be offered to those needy students of Bahria University who secured admission on merit in any academic program at Bahria University (except Medical & Dental) and he/she cannot pursue studies due to financial constraints.
(b) For new intake, results of their Matric, FA/FSc and equivalent shall be considered for award of Qarz-e-Hasna.
(c) For the students enrolled in 2nd semester onwards shall be eligible to apply if has a minimum 2.75 GPA/CGPA in the previous semester. For continuation student should maintain at least 2.75 GPA/CGPA otherwise his/her Qarz-e-Hasna shall be withheld till the time he/she improves academic grades to 2.75 GPA/CGPA.
(d) At a time, students can avail only one option either scholarship or fee concession or Qarz-e-Hasna from University or external sources. If a student falls under more than one category then he/she may avail any one option as per his/her own discretion.
3) QARZ-E-HASNA APPROVALS AND LIMITS
3.1. The Qarz-e-Hasna shall be awarded, partly or fully against the tuition fee.
4) REPAYMENTS
4.1. All successful applicants for Qarz-e-Hasna must sign an Agreement, including a repayment schedule.
4.2. The repayment schedule must be so structured as to allow full loan repayment once the students is graduated and financially stable. The maximum repayment duration must not exceed 05 years for UG Program and 03 years for PG Programs after completion of their respective program of study.
4.3. At the time of passing out of the student, Campus will provide him/her the repayment plan specifying the cut –off date by which the student has to clear his/her total due amount, in lump sum or installments. But not more than the duration as mentioned at Para 4.2 above.
4.4 In case if student has availed Student Study Loan from revolving fund at the time of admission then same will be adjusted from Qarz –e-Hasna payment if awarded to the student.
4.5. It will also be a moral responsibility of every recipient to payback the received Qarz-e-Hasna amount with in stipulated time period so that maximum deserving students can be benefitted with this policy.
5) GUARANTORS
5.1. Parents / guardians are to be joint borrower (s) (irrespective of their means and age of student).
5.2. Co-obligation of spouse in case of married students.
6) AGREEMENT WITH STUDENT & GUARANTOR
6.1. Once the final approval is accorded, an Agreement shall be signed between the student with guarantee of his/her parents or spouse (in case of married student) and the University.
7) MONITORING THE BENEFICIARIES OF QARZ -E- HASNA AWARDEES
7.1. The Central Qarz-e-Hasna Award Committee shall formally review cases of all Qarz-e-Hasna awardees every semester to monitor academic progress as per approved policy. The respective Campus Director will send complete semester result of all beneficiaries, to the Central Qarz-e-Hasna Award Committee. Qarz-e-Hasna of the students, whose performance falls short of the required parameters, will be discontinued till the time their grades improve to minimum eligibility criteria.
8) AMENDMENT POWERS
8.1. Rector Bahria University has the full powers to amend/ abandon any one or all terms and conditions of the Qarz-e-Hasna Policy.
8.2 The policy will come into effect from the date of approval and shall be reviewed as and when required.