Financial Support

SOP FOR FINANCIAL SUPPORT FOR STUDENT HITEC-IMS, HIT, TAXILA CANTT

  1. General:- According to Pakistan Medical Commission (PMC) directions, any medical college in Pakistan must give financial support to students, with minimum 5% of students getting 25% discount in tuition fee.
  2. Purpose of Policy:  The purpose of this policy is:-
    1. To facilitate parents by providing them an opportunity to ensure continuation of their wards without financial hustle.
    2. To encourage the efforts of students for their extra ordinary academic performance.
    3. To fulfil Pakistan Medical Commission (PMC) directions that any private medical college in must give financial support to students.
  3. This financial assistance will be given only to the students admitted on open merit basis in the HITEC-IMS (excluding Quota seats & Foreign students).
  4. Categories of Financial Assistance:
    1. Fee Installments.
    2. Percentage Reduction / Waiver in fee.
    3. Scholarships.
  5. Financial Assistance Committee:- A Financial Assistance Committee will be constituted as follows to streamline and over look the financial assistance matters:-
    1. Chairman
      1. Principal
    2. Members
      1. Vice Principal
      2. Dir Adm & Ops
      3. HoD of any Dept
      4. AM Finance
    3. Secretary
      1. Manager Coord
  6. The Principal will nominate the names of the members for one year.
    1. Student Affairs Department will provide information for Financial Assistance to the students.
    2. Written application should be submitted to Students Affairs by the parents applying for Financial Assistance within two weeks of issuance of Fee challan.
    3. To ascertain the financial state of the applicants (parents / guardian), following documents / certificates be attached with the application as applicable :-
      1. Application.
      2. Category for which assistance is applied.
      3. Nature of source of income.
      4. Family (father & mother) income with evidence (Pay slips, bank statement, Income Tax Return e.t.c).
      5. Number of dependents and their profession.
      6. Attach utility bill (Sui Gas, Electricity and PTCL bill).
      7. Proof of residence (ownership / rented).
      8. Form-B.
      9. Medical documents of parents (father / mother if they are ill).
    4. Applications received after due date will not be entertained.
    5. Only one category of assistance can be applied for.
    6. On receipt of application the Student Affairs Department will check eligibility of application and attach necessary documents including student’s academic record.
  7. Procedure to apply for Financial Assistance:-
  8. When all the applications are received by Student Affairs, they will submit them to Financial Assistance Committee separately for each year.
  9. The Financial Assistance Committee will scrutinize the eligibility and make recommendations whithin two weeks for each category.
  10. Separate Financial Assistance summary will be prepared for each term by Finance Department.
  11. Credit advises will be prepared for the gross amount of Financial Assistance and posted to books of accounts by Finance Department.
  12. Fee Installments:-
    1. Fee installments will be allowed to only 25% of students.
    2. The committee can recommend a break in maximum 3 equal installments.
    3. Cases requiring 4 x equal installments will be referred to Director HITWT for approval.
    4. Cases requiring 5 x equal installment of fee will require approval Chairman HITB.
    5. While making installments, it should be ensured that all installments are scheduled so as to be payable before 31st July of each year.
    6. All previously approved cases must be reapproved by the Financial Assistance Committee for the next academic year.
    7. No fee installments will be allowed in first year and full fee will be charged.
    8. In case of default in payment of installment on due date, the installment plan will be annulled and total fee will become recoverable with immediate effect.
    9. Failure in professional or College examinations, breach of discipline, neglect of studies or irresponsible conduct may entail the loss of the concession including ward of HIT employees.
    10. Student Affairs Department will keep a proper record in chronological order of all approved and non approved cases.
    11. Accounts department will keep proper record of all approved cases and will issue reminder to the student one week before the due date.
  13. Fee Concession Policy:-
    1. Fee concession will be given as decided by the committee to the deserving students and decision of chairman Financial Assistance Committee will be the final.
    2. First Preference will be given to the HIT employees vide Para 6a(5) (a) & (b) and para 6b(2) of Minutes of HITEWT Management Committee Meeting held on 24 Nov 2017 received vide ltr no. 5452/Secy/HITEWT MC dt 12 Dec 2017 are as under :-
      i) Grade 1-11 75% of total tuition fee.
      ii) Grade 12-16 50% of total tuition fee.
      iii) Grade 17 and above 25% of total tuition fee.
      iv) HITEC-IMS (Medical & Dental College) employees 25% of total tuition fee.
    3. The discount shall be given to the admitted students in session 2021-2022 as per the PMC Policy clause 9(5).
  14. Amendment received vide HITEWT Sectt ltr no. 2012/11/HITEWT dated 19 July, 2021 that only wards of serving employees of HIT will be entitled for Fee concession and the award of Fee Concession will be discontinued if the employee retires, is posted out or dies during the course of studies.
  15. Scholarship/ Cash Award Policy
    1. Scholarship will be awarded on the basis of student’s performance in professional examinations. Each scholarship will be awarded on start of next academic year and for final year student at time of convocation.
    2. Student securing overall first or second position in college in all professional exam will be awarded utility item like Tablet / Laptop e.t.c of worth rupees 50,000/- to 65,000/-.
    3. Any student securing Distinction in University exam will be awarded a cash prize of Rs. 10,000/- for each distinction.
    4. The amount shall be utilized from Endowment Fund.