Section 8.

2 658 Words

My academic interests mainly comprise of the financial application of Mathematics and Statistics.
Thus, I aspire to build a career in Actuarial Science. Unfortunately, I could not find even a single institution in
Pakistan that had Actuarial Science as a part of its curriculum. Therefore, I chose to apply abroad, and LSE
grabbed my focus because of its appreciated history of excellence. LSE’s Business Mathematics and Statistics
program is a perfect fit for me. I believe I will be able to utilize my skills and maximize my potential by
availing this opportunity to study at one of the finest institutions.

However, the financial situation of my family stands as a major obstacle for me. I have described the financial
problems faced by my family at length in section 7.3; these include lower family income, regular medical
expense bill for my parents, educational expenses for my siblings, fixed savings with depreciating exchange
rate eroding the real amount in British Pounds and my father’s retirement in next 2 years. As my father is the
sole earner in the family, it has become increasingly difficult to fulfill the needs of a family of 6 especially
with soaring inflation in Pakistan. Despite these hardships, he has saved 15000 pounds for my education,
enough for any program in Pakistan. However, it is not sufficient for a course at LSE due to much higher
tuition fee and living expenses relative to local universities. Conclusively, If I don’t get sufficient LSE
financial aid and I come to UK on a tight budget, I will have to devote a lot of time to some part time job to be
able to support myself financially, and that would have a negative effect on my studies and as a result on my
career prospects.

I have won various academic awards, held positions of responsibilities, participated and won laurels at
numerous international events for my country and college. Thus, I believe I will be a strong candidate for any
scholarship programs available. I would wholeheartedly want to be considered for any such programs along
with my financial aid application and student loan programs if I am eligible for any within LSE. I have tried to
apply for student loans as well, but no such scheme exists in Pakistan and I am not eligible for loans made
through UK banks. After witnessing limited or no success in securing finances through additional sources I
decided to apply for LSE financial aid.

Since Pakistan does not have ample opportunities for actuaries, I had limited options to gain work experience.
But I still managed to work as an internee in the HSBC bank in Lahore that enabled me to have some basic
insights into the complexities of the financial world. This experience intrigued me and thus, I am eager to
learn more and develop my knowledge of the field.

The primary goal of my academic career is to learn and excel in my studies and research. If I manage to
secure adequate funds to complete my studies from LSE, I plan to work in an Actuarial Firm in UK for first
few years to gain vital experience and complete my qualification. This will also play an instrumental role in
improvement of my family’s financial condition as I would be able to contribute towards the education of my
younger sister share some burden with my father who would retire from his work in the next three years due
to old age. Afterwards I would like to return back to Pakistan and help in the establishment and development
of Actuarial science program at local universities. And working as actuary for my country would enable me to
directly contribute to the upliftment of the disintegrating economic situation of Pakistan. I believe there are a
lot of bright students in Pakistan like me, but they are held back by the limited resources available. If given
opportunities they can play a pivotal role in the betterment of Pakistan’s economy and general welfare.
Section 7.3 493 Words

I am applying for the financial support as my parents will be unable to meet the costs of my education when I am at
LSE.
My father, a government servant by profession and the sole-earner of my family, is already facing financial problems.
A large family such as mine has a great amount of expenses. Both my elder brothers applied and got financial aid from
their respective universities, which is the only factor that made their foreign education possible. Despite their financial
aid, my father had to borrow some money from one of his friends to finance their education. If he repeats the same
process, I think this might lead to a severe dent in my family’s financial conditions.

Despite all the financial hardships my father has managed to save about 15000 pounds, adequate for my education in
Pakistan. However this amount is insufficient to cover my tuition fees and living expenses at LSE. Since the savings are
fixed, and the exchange rate of Pakistani rupee in terms of British Pounds is depreciating constantly, the real amount
might even decrease further during the course of my study. I feel that if I come to UK on a tight budget, I would have
to devote a lot of time to some part time job to be able to support myself financially, and that would have a negative
effect on my studies. Thus I believe LSE financial support can ease my burden and allow me to utilize my time and
effort on my studies.

My father is a heart patient and had a major surgery in last few years (details of which are attached). After the
operation, he has to take medicine regularly which have to be imported and are expensive. This accounts for an extra
financial burden. Thus, the regular medical bill is an added expense on my family’s income.
It may be important to mention that Pakistan has a high rate of inflation. A relatively less increase my father’s income
and his expected retirement during second year of my degree stand to worsen the financial situation for me. I want to
complete my studies and work to contribute to the betterment of my family’s deteriorating financial situation.

Upon the receipt of admission from LSE and knowing my financial situation; I started an extensive search for
scholarships, government grants, and external financial aids. Unfortunately, I did not manage to find any programs in
Pakistan or elsewhere that offers scholarships to Pakistani students to study in a foreign university..

Conclusively, I am depending a lot on LSE financial aid application. Therefore, without this award I will be unable to
attend LSE and will be forced to forgo this opportunity of a lifetime and my dream of studying in LSE will always remain
a dream. If granted the award I will use it to cover my tuition fees, accommodation expenses and daily expenses, in
that order of preference and help lessen the burden on my family.