Program Announcement 2013 - 14 - Institute of Business ...

Financial Assistancesubmitted by the students seeking financial aidand scores their need level against laid downcriteria; compares it to the need level of otherapplicants to assesses the level of assistancethat can be made available on the basis ofavailable funds.d. Merit ScholarshipsMerit scholarship are extended to candidateswhohave scored high enough for their names tofall in the top 10% of the list of candidatesappearing in aptitude test and thereafterqualifying to be admitted to the BBA &MBA Morning Programs. The list of thesecandidates is published at the culmination of theadmission process i.e. qualifying aptitude test,group discussion, and interview and providingproof of having met the minimum academiceligibility standards for the concerned program.These candidates will beautomatically awardeda 50% reduction in their tuition fees.• It will, however be obligatory/ incumbent on suchcandidates to maintain a CGPA of 3.5 oncompletion of every two semesters each year.Inability to maintain the said CGPA will renderthe concerned merit scholarship holder ineligiblefor continuing of the merit scholarship in theremaining semesters.• In the event of a student losing his/her standingfor merit scholarship, and regaining the requiredCGPA in any subsequent semester; the studentwill again become eligible for merit scholarshipin the next semester but will not be entitled toclaim the same for the preceding semester.• The number of scholarship slots released as aresult of this discontinuation (as mentionedabove) will be made available to the toppers(maintaining highest CGPA) in the Dean’s HonorList for that particular academic year. The newmerit scholars are also required to maintainminimum CGPA of 3.5 at each completed yearfor continuation of Merit Scholarship, i.e. otherrules for continuation / discontinuation of meritscholarship, as mentioned in above, will alsoapply to these new scholars.e. Study loans• IBA also facilitates its students in securing loansto meet their tuition fee. These may be interestfree loans (Qarz-e-Hasna) to facilitate studentsduring the course of their study. Applications forsuch loans will be invited from amongstcandidates who have already applied for ‘needbased scholarship’ but could not meet the criteriafor the same.f. Work-study Appointment Scheme• The scheme enables needy students tosupplement their finances through part timework on-campus and helps students minimizetheir debts servicing burden upon graduation.The HR Dept promulgates each semester alongthe positions available for students to take upon-campus part time jobs / internships. Theremuneration of such jobs is calculated on hourlybasis.• IBA strongly believes that such on-campus jobsand internships are an important tool inrecruiting, developing talent in meeting the needsof today while preparing the workforce for thefuture.• The three different programs available for IBAstudents seeking to gain work experience oncampus include:- Paid Student Interns (Summer interns aswell as for other times during the year)- Part-time student employees- Teaching assistants/ Research assistants• Details of these work programs are available inthe SOP’s listed under “ Rules for Studentrecruitment – internship, part-time employmentand teaching/ research assistants” availablewith the Career Development Center.Study Expenses Financed by Corporations5. Students at IBA, like any other top University of theworld, have a well-known accreditation andacceptability in the corporate market. Some of thecompanies are financing students study programsby providing required financial assistance to thestudents; as part of their vision to invest in the futurehuman resource capital. A bond is signed betweenstudent (one who seeks financial assistance) andcompany (financer), according to which student willhave to serve the company as an employee; as soonas he/she completes his degree program from IBA.Company sees it as an investment in the futurehuman resource capital. Details of suchopportunities are available with the IBA CareerDevelopment Center (CDC).Maria Ayub SilatBBA StudentAzad AbdullahMBA StudentI was the privileged recipient of a 50%financial scholarship at IBA This aidgreatly helped me to continue my studiesas my father had retired from his job, wehad no other means for a stable andsubstantial income which could haveallowed me to pursue my academic career.IBA Financial Assistance program is oneof its kind that solves the financialproblems of the bright students with weakfinancial background. The students whichcome from the remote and rural areas ofPakistan possess tremendous talent butthe only bottleneck they face isaffordability of quality education in areputable institute like IBA.73