Students’ (Interest-free) Educational Loan Program(SELP)
Over the past decade or so, the financial cost of undergraduate civil engineering education in Pakistan has risen beyond the affordability level of most citizens. PSCE feels that this is likely to cause tremendous harm, to the society, in more than one ways:
- At the social level, it has unjustly closed the doors of civil engineering education to the less affluent.
- At the technical level, it has potentially deprived the country of some of the best minds of joining the profession, thus lowering its average quality of civil engineering expertise
In view of the above, PSCE has a limited program in place for extending soft educational loans to Pakistani nationals pursuing undergraduate civil engineering studies within the country.
Seed money for this pilot project has been provided by a one-time generous contribution by a small group of individual civil engineers. This tiny initial fund would be recycled, as the borrowed sums are returned by the beneficiaries, after completion of their studies, and then lent to others.
The present financial outlay is indeed modest and more donations would be required to extend the loans to more students. It is also evident that the real value of the funds would be gradually eroded by inflation and unless PSCE gets further donations to eke out the inflationary losses, the project would not be able to remain sustainable.
The success of this project, therefore, greatly depends upon the timely return of the sums borrowed as also on the receipt of more donations.
PSCE expects that only those students shall apply for the loan as are actually in need of financial support and also expects the beneficiaries not only to return the money in time but also contribute to the fund as they start earning. Please do not forget that even small but regular contributions would mean a lot to the fund.