Office of Admissions
LUMS DHA, Lahore Cantt. 54792, Lahore, Pakistan
Tel: +92 42 3560 8000 Ext.: 2177
MBA
MBA
The MBA programme at the Suleman Dawood School of Business (SDSB) at LUMS is as unique as it is transformative. It is focused on creating business leaders with the power to effect positive societal change. It is premised on tackling the complexities of a rapidly evolving world where global shifts, technological change, business model innovations, and novel managerial expertise require the application of extreme business intelligence and the capacity to act quickly. The LUMS MBA empowers men and women to question, re-think and mobilise organisational impact, enterprise performance, and business growth at national, regional, and global levels. Our MBA graduates are recruited by leading organisations in Pakistan and internationally, while many opt to kick-start entrepreneurial ventures of their own.
Our MBA core courses are designed with input from CEOs and senior industry experts to ensure that our graduates demonstrate high knowledge in core business areas, including finance, marketing, and strategy. Through a unique blend of classroom instruction, targeted practice, and constructive feedback, students acquire essential soft skills honing in on high-level communication, public speaking, and the ability to navigate across different organisational cultures.
The programme deploys participant-centred learning inclusive of simulations, role-plays, case studies, and industry visits. MBA students also tackle hundreds of business cases to develop their capacity to make decisions and act across a broad range of situations. Additionally, the MBA provides practical experience based on real-world dilemmas, supported by professional mentorship through the three Experiential Learning components of the programme.
Research and teaching at LUMS truly offers its community ‘Learning Without Borders’ by breaking academic, geographic and socio-economic barriers to make education accessible to all. The University continues to be an intellectual hub, rich with varying perspectives and transformative ideas. With an environment brimming with inclusion, unity, and boundless knowledge, learning continues within and beyond campus walls to develop innovators, leaders and change-makers who can contribute to the community and build strong borderless networks.
Class Profile
MBA 2023 Class Profile | |
| Male | 76% |
| Female | 24% |
| Average Age | 25 years |
| Average Experience | 3 years |
MBA 2023 Academic Background | |
| Economics | 10 |
| Business | 22 |
| Management and Marketing | 5 |
| Engineering | 36 |
| Accounting and Finance | 17 |
| Commerce | 3 |
| Other | 1 |
| Arts and Design | 2 |
| Sciences | 11 |
| Law | 2 |
The MBA at the Suleman Dawood School of Business is a two-year programme built on the case method of teaching and a focus on tackling real-world business challenges. A collection of core and elective courses, combined with Experiential Learning through active industry engagement from day one, sets this programme apart as a model for advancement, growth, and success. The Experiential Learning process is grounded in the practical application of reflective thinking to analyse and make impactful decisions. During the MBA, students work on over 800 cases in which they become active learners and decision-makers, developing critical thinking and quantitative reasoning skills. They analyse and apply theoretical frameworks to debate and develop arguments and make powerful cases to energise businesses, teams, and entrepreneurial ventures.
The Case Method
LUMS has pioneered the use of the case method in Pakistan. Students work on cases based on actual managerial challenges drawn from real-world examples. They take on the role of decision makers and provide solutions to real life business issues in a classroom setting
Summer Immersion Programme (SIM)
SIM develops a strong base for students to help them succeed in the rigorous two-year MBA programme that follows. It builds knowledge and understanding of fundamentals through communication, business, finance, and computer application modules.
Experiential Learning (EL)
The MBA programme at LUMS is completely case based with an Experiential Learning component through active industry engagement. The EL component includes:
- Industry Analysis Exercise (EL-1)
- My Startup (EL-2)
- MBA Consultancy Project (EL-3)
Admission Criteria
Fall Admission 2023
Applicants must meet the minimum eligibility criteria in order to be considered for admission to the Graduate Programme.
Admission is purely merit-based and rests solely on the following criteria:
- Academic Record;
- Performance in the Admission Test;
- Work experience (strongly preferred);
- Two Letters of Recommendation;
- Completed and submitted application form and supporting documents by the stipulated deadline;
Application Review; and
- Interview Performance (if called)
Note:
This is the minimum criteria that applicants need to fulfill in order to be eligible to apply. Fulfillment of this criteria does not guarantee admission to LUMS.
Academic Record
Applicants will be assessed on the following criteria:
- A minimum of sixteen (16) years of education leading to a Master's or Bachelor's* degree from a university recognized by the Higher Education Commission (HEC), Pakistan.
* Candidates holding only a Bachelor's degree of less than four years’ duration will be required to produce an equivalence certificate issued by the Higher Education Commission (HEC), Pakistan.
Note:
Applicants completing their last degree by May 30, 2023 are also eligible to apply.
Test Requirement
Applicants are required to take One (1) of the following tests in order to be considered for Fall 2023 admissions:
- Graduate Management Admission Test (GMAT); OR
- Graduate Record Examination (GRE); OR
- NTS GAT (General)
- LGAT (LUMS Graduate Admission Test)
The GMAT/GRE (General) is offered as a Computer adaptive test worldwide. The LUMS code for receiving GRE (General)/ GMAT scores from Pearson and ETS is 0679.
Note:
-
GMAT/GRE taken more than five years before the admission deadline will not be considered valid.
-
NTS GAT (General) taken more than two years before the admission deadline will not be considered valid. A cumulative score of 50 in GAT (General) is a minimum requirement for admission.
-
Apart from official test scores that LUMS will require directly from Pearson and Educational Testing Service (ETS), USA, applicants must submit online a copy of the unofficial GMAT/GRE (General) scores as soon as they take the test.
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LUMS Graduate Admission Test (LGAT) is comprised of Quantitative, Verbal, and Analytical sections. The LGAT Scores will be valid only for Fall 2023 admissions.
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The LGAT scores will be used for application evaluation and will not be disclosed to the applicants.
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If the applicant has taken more than one test, the best score will be considered for the application evaluation.
Submission
The admission application will be considered for evaluation after the successful completion of the following Four (4) STEPS by the applicants on or before the stipulated deadlines:
- LUMS Online Admission Application submission;
- Online submission of scanned copies of required supporting documents;
- Submission of an appropriate Application Processing Fee; and
- Online submission of the Letters of Recommendation by the Referees.
Application Processing Fee
- The application processing fee of Rs. 7,500
- LUMS Graduate Admission Test (LGAT) registration fee Rs. 1,800
- The application processing fee of USD 120 for International applicants.
Note:
- Applicants must complete and submit their Online Admission application on or before April 11, 2023; 5:00 pm (PKT).
- Applicants are required to submit Online the scanned copies of all supporting documents on or before April 14, 2023.
- After the successful submission of the Online application, applicants must make the Processing Fee payment by the deadline.
- Referees must submit completely filled Letters of Recommendation by the given deadline.
Completion of all steps is mandatory. Applications, documents or fee received after the stipulated deadline will not be processed.
Application Review/Interview Performance
Shortlisted applications will be reviewed by the relevant committee to finalise the admission decision. Applicants are encouraged to provide complete information regarding their academic achievements, research reports, attended workshops, extracurricular activities, and must tell LUMS about their success stories in order to substantiate their applications.
Work Experience
Preference is given to applicants with prior work experience. Evaluation is based on the quantity and quality of the Full-time work experience. Candidates are encouraged to acquire work experience of 1–2 years before applying to the LUMS MBA Programme. This requirement, however, is not mandatory for admission to the MBA Programme.
Letters of Recommendation
The Letters of Recommendation should indicate the applicant’s Academic Performance, Commitment to excellence, and their strong aptitude for business education. The recommendations can be made by professionals as well as academic referees.
The modes of payment are as follows:
1. Voucher can be paid through cash, Pay Order and Bank Drafts made in favour of "Lahore University of Management Sciences" at any branch within Pakistan of following banks:
- Allied Bank Limited
- Meezan Bank Limited (Customer Code: LUMS)
- Bank Al-Habib Limited
2. For online Credit/Debit card payment, please click here.
3. Vouchers can also be paid through ATM machines and internet banking portals of the following banks:
- Allied Bank Limited
- Askari Bank Limited
- Bank Alfalah Limited
- Bank Al-Habib Limited
- Faysal Bank Limited
- Meezan Bank Limited
- Standard Chartered (Only for Online Payments)
Note:
- For making payments through internet banking portals/ATM, students need to have bank account in the respective bank.
- Fee payment through "Pay Orders" is accepted at banks up to two working days prior to the payment deadline. Fee may be paid through Cash Receipts, Online Services and Credit/Debit Cards till payment deadline.
Advance Tax:
Through an amendment in the Income Tax Ordinance 2001 by Finance Act 2013, advance tax (under section 236 I) shall be collected @ 5% on the entire amount of fee except refundable portion.
Bank Helpline Numbers
Allied Bank Limited
1. UAN: 111-225-225, Branch contact No: 042-35748308
2. Regional Office: 042-35747603
Meezan Bank Limited
1. Region Office: 92-42-35786207
2. Head Office: 92-21-36406139
Bank Al-Habib Limited
1. Karachi: 92-21-32277231-239, Lahore: 0333-1218430
2. DHA Ph. 5 Branch: 042-37189231 042-37189234
Fee Structure for FY 2022-23
|
Particulars |
Fall 2022 |
Spring 2023 |
Total |
|
PKR |
PKR |
PKR |
|
|
Admission Fee |
116,840 |
- |
116,840 |
|
Tuition Fee |
567,230 | 567,230 | 1,134,460 |
|
Registration Fee |
33,420 |
33,420 |
66,840 |
|
SOP |
26,660 |
- |
26,660 |
|
Reading Material |
26,120 |
26,120 |
52,240 |
|
General Security |
41,800 |
- |
41,800 |
|
Total |
812,070 |
626,770 |
1,438,840 |
Hostel Fee
|
Particulars |
Fall 2022 |
Spring 2023 |
Summer 2023 |
|
|
PKR | PKR | PKR |
|
Hostel Fee (double occupancy) |
61,590 |
61,590 |
TBA |
|
Hostel Fee (triple large occupancy) |
44,840 | 44,840 | TBA |
Important Points
- The above breakdown of fee structure is for Year 1 of the 2 Year MBA programme.
- Fees are payable by semester according to the schedule given in the Annual Fee bill.
- As per Income Tax Ordinance 2001, advance tax (under section 236 I) is required to be collected @ 5% on the entire amount of fee paid by a person not appearing on the active taxpayers list if Student Payable exceeds Rs. 200,000/- per annum excluding the amount refundable. Tax deduction certificates will be available on student Zambeel account.
- Advance tax paid on fee is adjustable at the time of filing of Income tax return. LUMS will issue Advance Tax Certificate in this regard at year-end.
- University fees are usually announced once each year. However, the University reserves the right to change its policies and fee structure at any time.
Refund Policy
To learn more about the University's Refund Policy, please click here.
| Activity | Date |
|---|---|
| Online Application Deadline | April 11, 2023, 5:00 pm (PKT) |
| Deadline to submit online supporting documents and Processing Fee | April 14, 2023 |
| Deadline to take GMAT/GRE (General)/NTS GAT (General) | May 07, 2023 |
| LUMS Graduate Admission Test (LGAT) Administration (Tentative Date) | May 07, 2023 |
| Admission Decisions | July 31, 2023 |
| Commencement of Classes | August 2023 |
Note:
- The University reserves the right to change dates and deadlines for admissions. Please keep informed of any changes by visiting this site periodically, as well as the LUMS online application site.
What is the minimum CGPA requirement for applying to the LUMS MBA programme?
There is no CGPA requirement; minimum 16 years of education is compulsory for applying to the MBA programme.
I already have an MBA. Can I apply to LUMS?
Yes. We do not exclude candidates who already have an MBA or any other graduate degree.
Do you require any entrance test for admission to the MBA programme?
Yes, Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE) or NTS GAT (General) or LGAT score is required for admission to the MBA Programme.
What should I know about the GMAT?
The Graduate Management Admissions Test (GMAT) is offered year round as a computer adaptive test. You should register for the test at least one month before you plan to take it. You need to complete the GMAT test before you submit the online application. You may submit your application with unofficial score report however, you will need to submit an official GMAT score report to our office before you can matriculate. There is no minimum required score. A high score does not guarantee anyone's acceptance, nor does a low score preclude it as there is no minimum score required. For further details, please log in to www.mba.com.
For how long are the GMAT/GRE/ NTS GAT (General) scores valid?
GMAT/GRE scores are valid for five years. GMAT/GRE taken five years before the admission deadline will not be considered valid. However, the NTS GAT (General) is valid for two years.
How do I register for GMAT?
The GMAT bulletins are available at the American Centers in all major cities. Details regarding registration are given in the bulletin or www.mba.com.
How do I register for NTS GAT (General)?
Details regarding registration are available on nts.org.pk.
How do I register for GRE?
Details regarding registration are given on www.ets.org.
I would like to submit my GMAT/GRE score to LUMS when I take the test. What is the code?
Our GMAT/GRE reporting code from ETS is 0679.
Is there any preference by LUMS in attempting GMAT or GRE or NTS GAT (General)?
There is no preference in taking GMAT or GRE or NTS GAT (General).
If I take GMAT/GRE/ NTS GAT (General) more than once, do you consider my highest score?
We will consider the best scores of a single attempt.
By which date should applicants expect their Test Registration Cards to be delivered?
Test Registration Cards and instructions will be posted to the applicants' secure online application account and an email message will alert applicants that the Test Registration Card has been posted. It will be posted on applicants' online account one week before the test date.
I have submitted my online application & all required documents on time but I am unable to view my Test Registration Card?
If an applicant is unable to view his/her Test Registration Card despite completing all the requirements then he/she can write to us at admissions@lums.edu.pk.
Can I defer admission?
In truly exceptional circumstances the Admissions Committee may grant a deferral. All requests should be made in writing and will be reviewed on a case to case basis.
For how long I can defer my admission?
An applicant can defer his/her admission for 1 year.
Do you call all applicants for an interview? What kinds of questions are asked during the interview?
A Merit ranking to shortlist applicants for interviews will be generated based on the Academic Performance, Work experience, and GMAT/GRE (General) scores. Only short-listed candidates will be called for the interviews. During the interview the Admissions Committee tries to assess the applicant's communication skills, managerial potential, thinking ability, subject knowledge and level of awareness of general issues.
Do you have any age limit for admission to the MBA programme?
No, there is no age restriction for admission to the MBA programme.
Does the full-time LUMS MBA programme offer spring admission?
Given the structure of the curriculum, we only offer fall admission.
My application for admission was denied and I plan to apply again. What will I need to submit? Can you review my past application and make suggestions?
When an admission application is rejected, the LUMS Office of Admissions retains the file for one year. Applicants who applied the previous year may reapply the following year for admission. In addition they must submit online application form, official academic transcripts, letters of recommendation and an updated work experience letter. All materials including the application fee are due by the application deadline.
If an application is denied, it is not possible for the department to go back and review applications to justify the denial or offer advice on fortifying a future application.
How do I inform LUMS about a change in the online application?
It is highly recommended that applicants fill out the application form carefully. Changes cannot be made after the submission of online application. In extreme circumstances an applicant can send the updated information to admissions@lums.edu.pk with the specific header ‘Change in Application Form’.
What are my chances of getting a job after I have completed my MBA from LUMS?
Over the years LUMS graduates have established themselves as highly marketable individuals with a diverse set of relevant skills. Our MBA graduates are adequately skilled for both the professional environment as well as undertaking entrepreneurial ventures. Our students are recruited by some of the leading organizations of Pakistan. They are offered excellent positions and normally at prominent salaries. Our Career Development Office provides substantial assistance to students in seeking placements for internships as well as regular jobs. The Office helps them in resume writing as well as job search skills development and also arranges interviews for them. Career fairs company presentations and on-campus interviews are some of the efforts in this regard.
How many letters of recommendation should I submit?
Minimum two (2) letters of recommendation are required.
Whom should I ask to write a letter of recommendation for me?
We recommend that at least one should be from a supervisor in your professional career. The other letter can be from a faculty member who can evaluate you academically.
Can I transfer credits from another graduate programme?
Transfer of credits from another programme to the LUMS MBA programme is not allowed. All admitted students regardless of having an advanced degree will begin the programme as a first year student.
If I provide you with my GMAT/GRE/ NTS GAT (General) score or GPA or resume etc., can you tell me my chance of admission?
We consider many factors in the admissions selection process therefore, it is impossible to predict one's chance of admission without reviewing a complete application. You can review a class profile on our website if you like to benchmark your statistics against current LUMS MBA students.
I don't have a business background. Will this impact my chances for admission?
We welcome applications from people with a variety of professional and academic backgrounds. We will be looking for you to demonstrate your potential as a leader and consider your professional experience and past performance while assessing your application.
Is work experience compulsory? I do not have any work experience. Can I apply to the LUMS MBA programme?
Yes, you can apply. Preference is given to people who have some work experience. Candidates having an exceptional academic track record complemented by a very high GMAT/GRE score with the experience of a few internships are also considered for admission.
How many years of work experience do I need to be admitted?
We do not have an absolute requirement for years of work experience although at least two years is preferred. However, applicants with less experience who demonstrate exceptional maturity and outstanding leadership through their personal experiences will also be considered.
Can I submit more than one admission application for MBA?
No, you can submit only one application in an academic year for MBA programme.
May I apply using the paper based application and send paper materials?
We only accept applications submitted electronically. This allows us to process your application more quickly. It also allows you to keep informed of the status of your application throughout the process by checking it online.
What is the application process?
Application for admission to the LUMS MBA programme is an online process (there is no paper based application to fill out or mail). After creating an account and accessing the online admission application you may then begin to complete your application. You can work on your application at any time and submit it when it is ready. Please note that we expect applicants to adhere to the deadlines stated on the LUMS website. The earlier you submit your application the sooner you can learn about the receipt of these materials. After submission you may print a copy for your own use.
How will you notify me regarding a decision on my application?
Admission decision will be communicated through courier service; however, you can also check your application status through your online account. Regretfully, we are unable to provide information regarding the application status by telephone or e-mail.
May I appeal my admission decision or ask to have the decision explained?
The admission process is a well deliberated and thorough process. Each year we receive a large number of outstanding applications. Unfortunately, all of them do not qualify because of the limited number of available seats. The decision regarding admission is final.
If your application is unsuccessful, you will also receive a letter informing you of this. Due to the volume of applications the University receive; it is not possible to provide feedback on unsuccessful applications.
What if my supporting documents didn’t reach LUMS on time?
LUMS doesn’t require your supporting documents in hard copies. You only need to upload the documents in online application.
Who is an international applicant?
A foreign national who is not of Pakistani origin and does not have a Pakistani passport/NICOP/CNIC is eligible to apply to LUMS under its International Student Programme. Applicants holding dual nationality out of which one is Pakistani are not eligible to apply through LUMS International Student Programme.
What is the Higher Education Commission (HEC), Pakistan?
Higher Education Commission (HEC) Pakistan is an independent, autonomous, and constitutionally established institution of primary funding, overseeing, regulating, and accrediting the higher education efforts in Pakistan. HEC is responsible for formulating higher education policy and quality assurance to meet the international standards as well as providing accrediting academic degrees, development of new institutions, and uplifting of existing institutions in Pakistan.
How do I get equivalence from Higher Education Commission (HEC), Pakistan?
International students can get equivalence through the following process: https://www.hec.gov.pk/english/Pages/default.aspx
Does LUMS offer campus accommodation to international students?
LUMS provides a well-maintained residential environment for international students.
LUMS Financial Aid
Admission to all programmes is purely on merit and independent of students’ ability to pay the related tuition fees. Once a student has been admitted to a programme, there are several mechanisms in place to provide financial support based on need and merit. All awards are reassessed each academic year based on performance, need, available resources and prevailing University policies. LUMS is committed to providing as much financial assistance as possible within the limits of its available resources. Nevertheless, the University may not be able to meet all requests for financial assistance, and it is strongly recommended that applicants secure as much of their own funding as possible.
Several Merit and Need-Based Scholarships are available for students who meet specific criteria.
- LUMS Interest - Free Loan
- Merit Scholarship
- Women Scholarship
- MCB- Student Personal Loan
- External Scholarships
External Scholarships
The University has tried its level best to raise funds to ensure that no deserving candidate is turned away from the programme due to insufficient funds. Since inception, external donors have played an immense role in achieving this milestone.
There are a number of named scholarships available for graduate students. LUMS supporters include individuals and organizations from all over the world. These scholarships can potentially help students cover the costs of education and related expenses (i.e. books, accommodation and living). The eligibility depends upon a number of factors, all of which are specified by the donor who offers the scholarships.
In order to be considered for any kind of external scholarships, students are required to apply for financial aid at the time of applying for admission at LUMS.
ADB - JAPAN Scholarship Program
LUMS consistently strives to make its educational programmes accessible to talented students regardless of their ability to pay. We are proud to be the only institute in Pakistan offering the Asian Development Bank-Japan Scholarship Program (ADB-JSP) through which students can benefit from our highly experiential MBA programme.
Under this scholarship scheme, the University in collaboration with ADB-JSP provides ADB’s developing members in Asia and the Pacific to pursue postgraduate studies in management at the Suleman Dawood School of Business.
How To Apply?
The applicant necessarily needs to simultaneously apply to the LUMS MBA programme and ADB-JSP.
What is offered?
Please visit the following link for detailed information: https://www.adb.org/site/careers/japan-scholarship-program/main.
Who Is Eligible?
Please visit the following link for detailed information on scholarship disbursement: https://www.adb.org/site/careers/japan-scholarship-program/main
In order to be eligible for the ADB-JSP scholarship, all applicants must also meet the LUMS MBA admission requirements. For details regarding LUMS MBA Programme, please visit the following link: https://admission.lums.edu.pk/programmes/mba.
In case of any query, please write to LUMS Office of Financial aid at helpdeskofa@lums.edu.pk
In order to know MBA application deadlines, please visit: https://admission.lums.edu.pk/programmes/mba
In order to be considered for ADB-JSP, students are required to apply for ADB-JSP at the time of applying for admission at LUMS.
Maintaining Eligibility
- Financial Aid Award is valid for One (1) year only. Continuation of aid in the subsequent year is subject to reassessment.
- Students receiving Financial Aid should maintain a Full-time status in a regular semester. Failure to do so will lead to the cancellation of the Financial Aid Award.
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Financial aid will not be provided for the Summer Semester.
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Financial Aid Award can be increased, reduced or kept the same at any stage of review during your stay at LUMS.
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LUMS reserves the right to physically verify the beneficiary's Home/Business premises.
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LUMS reserves the right to amend, cancel, or terminate the awarded Financial Aid in case of any misrepresentation or incorrect information provided by the student. Such misrepresentation or concealment of facts may lead to the termination of your admission from the Programme. University also reserves the right to recover the awarded amount during the preceding year(s) from the recipient on an immediate basis.
LUMS Interest-Free Loan
A degree from a tier-one university is one of the few investments with all-but-guaranteed return. Studying in LUMS not only opens doors in the professional world but also unleashes intellectual and financial potential.
At LUMS, we believe that financial circumstances should never stand in the way. To help, LUMS offers Interest-Free loans to the students from less privileged backgrounds who, without such assistance, would not be able to attend a university.
At MBA level, LUMS Interest-Free loan covers partial to full tuition fee expense. These awards are reassessed in each academic year based upon performance and demonstrated financial need. The repayment of these Interest-Free loans starts six (6) months after graduation with time period of 3 to 5 years.
Remember – loan is an obligation and is required to be paid back in installments after graduation. Loan repayment not only contributes towards the recirculation of Financial Aid to deserving students but also inculcates social responsibility and ethical values within the students.
Merit Scholarship
Merit Scholarship is a form of gift and does not required to be repaid. LUMS provides Merit Scholarship Awards to students who have proven their ability to succeed academically. There is no separate application for the scholarship. Students are automatically considered for the award when they apply for admission to LUMS.
First Year
1. 50% tuition waiver to admitted students with a GMAT score of 700 or higher (or GRE equivalent)
2. 50% tuition waiver to admitted top talent based on University merit evaluation. This merit scholarship award covers partial tuition fee for one year only and is awarded to the top three students in admitted batch based on the LUMS Admission evaluation ranking for the first year.
Second Year
Merit scholarship award covers partial tuition fee for one year only and is awarded to the top 3 students from returning batch who are placed on Dean's Honour List based on their academic performance.
Note: In case a student qualifies for both financial aid award and any other scholarship, he/she will receive the higher aid benefit. These awards are for one (1) year only and cannot be carried forward to subsequent years.
Women Scholarship
LUMS consistently strives to make all its educational programmes accessible to all across the globe, regardless of their ability to pay. Ground-breaking research, internationally competitive faculty, relevant curriculum, strong international linkages and a vibrant, extracurricular life have established LUMS as a centre of excellence in the region.
The aim of Women Scholarship is to foster, celebrate and advance women’s leadership in business. By tapping highly talented young women, we hope to contribute towards building the future of not only their families but also their communities. This scholarship will support female candidates to pursue higher education on merit and will increase the number of women joining the MBA/EMBA Program of the Business School. All female applicants admitted to MBA/EMBA Program will be eligible for 50% tuition fee waiver.
This Scholarship will groom female managers and leaders of business; dramatically changing the managerial landscape of Pakistan. As these women assume leadership roles in organisations across the country, there will be a change in the culture of these organisations.
Note: In case a student qualifies for both women scholarship and any other award, she will receive the higher aid benefit.
MCB - Student Personal Loan
LUMS has entered into an agreement with MCB Bank Limited through which MCB Bank provides commercial loans to MBA/ EMBA students.
The commercial loan facility is pivotal for students who are currently financially unable to afford the cost of tuition and living facilities. This is one of the first ventures of its kind in Pakistan and demonstrates LUMS' commitment towards providing equal educational opportunities to its students.
All loans are subject to the Bank’s internal approvals and MCB Bank reserves the right to approve/disapprove a loan based on its internal assessment. In case a loan is not approved, students will be required to provide the total fees and expenses of the education themselves.
Click here for the MCB Loan Term Sheet
Age
Minimum 21 years and maximum 45 years at the time of loan approval.
General Criteria
- Pakistani nationals only.
- At least 50% marks (or equivalent) in the last public examination (i.e. other than admission tests, e.g. GMAT, SAT, LMAT, etc.).
Debt-Equity Ratio
- Maximum 80:20 of admissible educational program cost (such as Admission, Registration, Tuition, On-Campus Residence, and any other part / head / item of the fees that is payable in advance by the student to LUMS).
- Any amount that is refundable by LUMS to the student later on is not covered under the Student Loan program
Loan Amount
Subject to regulatory and internal Bank requirements:
- Maximum PKR one million.
- In accordance with the schedule of fee payment, the above amount shall be disbursed over a maximum of 4 tranches/modules
- The drawdowns for the loans will be based on 2 drawdowns/ academic year.
- Each tranche disbursement would be subject to Bank’s review as per its requirement.
- Disbursement shall be made directly to LUMS on account of the student.
Loan Tenor and grace period
Installment repayments will commence six months after the completion of study period (up to 30 months).
Total tenor of repayment of the loan (post education period) to not exceed 7 years, including the grace period.
Mark-up Rate
- Markup rate of this facility is: Six-month KIBOR + 0%.
- This rate shall then undergo subsequent resetting on a six-monthly basis on the first working day of every January and July.
- Mark-up accrual shall begin from the day of first disbursement as per the above rates and shall continue on the outstanding principal till the entire repayment of the loan.
Partial / Full Early Payments
No pre-payment charges apply on partial or full prepayments.
Processing Fee
- One time non-refundable processing fee of PKR 5,000/- or as set by the Bank only at the time of processing of the initial application.
- Any applicable taxes / levies shall be recoverable from the customer / student / borrower.
Minimum guarantees and securities/ collateral
- Personal Guarantee of Parents / Guardian and/or any third party for each loan. At least one Guarantor should be Parent and at least one guarantor should have source and means of income.
- For each loan, assignment of all future incomes of the student to the Bank to the extent of the former’s liability to the latter. In accordance with SBP regulations, loans shall be collateralized through any security /collateral as determined by the Bank for each loan and borrower.
Documentation
- Application Form (pertinent to the relevant tranche) duly signed by the student and parents / guardian and/or third party guarantor(s) (as the case may be) including signed-stamped by concerned LUMS officials.
- CNIC or SNIC Copies of the Student and parent(s) / guardian(s) and/or any third party guarantor(s) as the case may be.
- CF-1 Form / SBP Undertaking.
- One-time activity of opening non-checking collection / repayment account.
- Required legal documentation to be signed by the student & parent / guardian and/or any third party guarantor(s) as the case may be and with regards to various collaterals / securities.
- Any other document as per MCB’s requirement
Other Terms &Conditions
- Student is not allowed to apply for any sort of loan from any financial institution / bank, without seeking prior permission from MCB until the first installment of the MCB Student Loan has been paid.
- If a student gets overseas employment, then his entire remaining personal loan and associated amounts shall become payable immediately to MCB.
- Apart from the above, in cases where the student fails to complete the program due to any reason, or drops out due to unsatisfactory academic performance or otherwise, or commits an act of moral turpitude or crime, the entire loan and associated amounts will become repayable immediately.
- The entire loan and associated amounts will also become repayable immediately if, at any stage, any mis-representation or concealment of facts comes to the Bank’s knowledge.
- Bank reserves the right to demand immediate payment of all outstanding amounts associated with the student loan at any time it deems appropriate.
- In accordance with applicable laws and regulations, Bank reserves the right to take all measures and explore all options (which may include but may not be limited to litigation) for collection / recovery of all outstanding amounts associated with the loan from the student / borrower / guarantor(s) and any available collaterals / securities in case of nonpayment / default and/or any non-fulfillment of contractual obligations by student / borrower / guarantor(s)
Mode of Payment
Voucher can be paid through cash, Pay Order and Bank Drafts made in favour of "Lahore University of Management Sciences" at any branch within Pakistan of following banks.