IBA implements financial relief plan during COVID-19
July 5, 2020: Under the Sindh COVID-19 Emergency Relief Ordinance 2020, certain relief measures shall be provided to the affected people of the Province of Sindh including a reduction in monthly fees to students to the extent of 20%. Having a long and formidable record of providing extensive financial and non-financial support to its students, the IBA will not only continue this tradition, but in line with the Government of Sindh's recommendations, further enhance its contribution to deserving students. By being focused in providing relief to the COVID-19 affected students and their families, the Institute of Business Administration (IBA) Karachi has taken a number of key initiatives, a few of them are as follows:
- For the coming academic year 2020-21, the IBA has increased its financial assistance budget by 25% to meet the needs of the students affected by the covid-19 pandemic. This will cover around 30% of the full-time students under IBA financial assistance programs, including scholarship awards ranging from 25% to 100% of the fee, depending on the assessed need level.
- IBA's financial assistance program is now budgeted at Rs. 380 Million for the FY 2020-21.
- A need-based evaluation criterion now accommodates covid-19 affected students as well as provides relief in the form of need-based scholarships awards in a range of 25% to 100%.
- All semesters, including the summer semester, are now covered for awarding need-based scholarships. In the past, scholarships were provided for regular semesters only.
- Need-based scholarships may be awarded to full time students with even one course enrolment. In the past, these scholarships were restricted to full time students enrolled against semester fee only.
- Special options for fee deferment/instalment plans have also been provided to students.
- The unutilized portion of the students' activity charges, examination charges, hostel and transportation fee are being refunded to the students for the year in progress.
The IBA remains committed to ensuring that students do not suffer due to financial constraints and through substantial and generous support, a maximum number of students get the opportunity to study at one of Pakistan's leading educational institutions.