IIM-A may double aided students

The institute ups need-based scholarship fund to Rs 1 crore; 30 students may benefit

The Indian Institute of management, Ahmedabad, (IIM-A) may double the number of students covered under its need-based scholarship programme.

Union minister for human resource development Arjun Singh had ordered immediate withdrawal of the February 5 directive of the ministry slashing the fees of Indian Institutes of Management after all the IIMs agreed to provide scholarships to poor students.

The scholarship may amount to full tuition fee waiver. Students who will get full tuition fee waiver at IIM-A may double to 30 this year from 15 last year, a member of the admission and financial aid committee said. IIM-A has raised its need-based scholarship fund to Rs one crore from Rs 25 lakh last year.

"It is the endeavour of the IIM-A to see that no student is denied the opportunity to pursue the post graduate programme (PGP) for want of adequate financial resources. The IIM-A has, therefore, enhanced its own comprehensive need-based scholarship scheme to Rs one crore this year. Scholarship schemes are operated with assistance from industry and government," the committee member said.

The fresh batch of PGP programme at IIM-A has commenced from Monday and students have started approaching the admission and financial aid committee for scholarships. The last date for submitting application to avail of the scholarships is July 15. There is no limit on the number of students who could get such scholarships.

"The IIM-A's need-based scholarships are awarded to needy students from economically disadvantaged families. The need will be assessed on the basis of family asset ownership, and financial position of the family, including any savings that the student may have from his prior work, the family's gross annual income from all sources and the number of dependants. Details on how to apply and what supporting documentation is to be supplied are mailed to needy students as part of their offer letters. However, all the admitted students, whose annual gross family income is Rs two lakh and below will be eligible for receiving financial assistance amounting up to full tuition fee waiver," the member said.

Apart from tuition fee waiver, the institute will also consider, in appropriate cases, waiving hostel and mess charges. The institute will also give assistance to students for obtaining bank loans.

IIM-A also offers its own scholarship in the form of a partial fee waiver for all PGP students belonging to the scheduled castes and scheduled tribes.

In addition, government of India scholarships are also available to PGP students, provided they satisfy the merit and means criteria laid down by the Institute and the government. IIMs at Ahmedabad, Kolkata and Bangalore have made provisions from their internal resources for the need-based assistance.

IIM, Bangalore has enhanced its need-based scholarship fund to Rs 75 lakh and IIM Kolkata to Rs 50 lakh.

The other three institutes at Lucknow, Indore and Kozhikkode will be assisted by the human resources development ministry to the extent of the additional burden they have to bear on account of the waiver of tuition fees.

A student can accept more than one scholarship or grant in an academic year, provided there is no objection from the awarding agencies and the total amount of such scholarships or grants put together does not exceed the actual yearly expenses payable to IIM-A during a particular academic year.

The recipient of a scholarship should inform immediately the financial aid committee if he or she receives any other scholarship, grant, loan or fellowship from sources other than the Institute.

At present, apart from the need-based scholarship, over 10 industry scholarships are also available at IIM-A.