1985. The LUMS Board of Trustees comprises members of the domestic business community, academics and government representatives. The principal functions of the board are to set policy guidelines and to review the operations of the university. The Board of Governors, as the sponsor of LUMS, raises funds for the university's operation and maintenance. In 1986, a business school by the name of Lahore Business School was established for an MBA Programme. Later the school was renamed and is known as Suleman Dawood School of Business. After the construction of the current campus, LUMS started undergraduate programmes in Economics and Computer Sciences in 1994. In 1996, the School of Arts and Science was introduced to oversee the undergraduate programmes. LUMS established the School of Humanities, Social Sciences and Law to oversee the Social Sciences, Economics and Law departments. The School of Sciences and Engineering, for the disciplines of Mathematics, Computer Science and other science subjects, was established in 2008. In 2016, the university charges Rs. 272,400 tuition fee per semester for undergraduate students. From 2020, the university changed the fee structure to a credit-based system. For the year 2021–2022, the per credit hour tuition fee was Rs. 23,760. LUMS launched the National Outreach Programme (NOP) in 2001 to reach out to bright students from underprivileged areas of Pakistan. Under this initiative, induction of selected candidates into the academic programs will be facilitated by preparation for the university's admission criteria and then by a provision of full financial assistance to those who qualify. Many students are admitted to LUMS on the basis of NOP. There are very few number of scholarships that are offered on need/academic achievement basis. LUMS loan scheme covers 20%-100% of the tuition fee component of the student. LUMS loans are interest-free. According to LUMS, it has disbursed PKR 3.2 Billion in financial assistance, with approximately 30% of the student body receiving some form of financial assistance each year. During the academic year 2015-16 alone, LUMS has disbursed more than PKR 500 Million as financial aid to its students. As of 2016, more than 800 scholars have benefited from the LUMS National Outreach Programme (NOP). In 2017, the Shahid Hussain Foundation established scholarships for international undergraduate students from South Asian Association for Regional Cooperation member countries. LUMS also offers a variety of scholarships to MBA students such as SAARC scholarship, MCB interest-free loans. It is the only institute in