All About Education: MBA in IIMs: various financial aids available

MBA in IIMs: various financial aids available

MBA is one of the most prestigious degrees in the world. In pursuing the MBA dreams, the students who wish to study in India look IIMs as a brand, which can make drastic changes in their profile as well as in their career. But however, completing management degree in IIMs is not just a tasty cup of tea in cheap price. It needs high academic graphs as well as financial background. In this scenario, students from weak financial backgrounds will feel very difficult to acquire a degree from any IIM in India.

The MBA scholarships act as a supporting pillar for these students, who ignore their IIM dreams only for the financial difficulties. The MBA scholarships start from the cycle of July- August in every year, once the enrollment gets completed. Here this article is to introduce some MBA scholarships, which will definitely help the students to meet their education expenses. This article includes scholarships available at five IIM institutes. They are – IIM Ahmadabad, IIM Indore, IIM Kozhikode, IIM Bangalore, and IIM Lucknow.

IIM Ahmadabad

IIM Ahmadabad Special Needs Scholarship	For PG students with annual family income less than 15lakh. The amount will be based on the family income, family wealth and number of members in the candidate’s family.
PGP Alumni Endowment Funds	9 PGP students (PGP 1 or PGP/ FABM II), from socio-economic challenges in background Yearly fund allotment, based on financial situations of students Amount = 2-3lakh in a year Screening will be done from Special Needs Scholarship applications, to select the beneficiary
Shri GC Mittal Entrepreneurship Aid	For a final year PGP/ PGP- FABM student, in every year Given to set up own business, apart from IIMA placement. Candidates must have family income below 8lakh, and an education loan for 1lakh. Selection will be based on the business plan submitted by the candidates Amount given = 2lakh
T. Thomas Scholarship	Given by Hindustan Unilever Ltd. Merit cum means based scholarship for a second year student Amount 1lakh/ year
Dunia Scholarships for Scholastic excellence	Provided by Dunia Finance LLC, Dubai, UAE Merit – based scholarship Beneficiary : two PGP Students (from first and second year respectively) Amount = 1lakh

IIM Lucknow

The Need- based IML Scholarships	For any students with family income below 4lakh Merit based Aids for an academic year’s tuition fees
Amrit Kala Dayal Scholarship	For one student – female only Based on family income and CGPA Amount = 75,000/-
Bharti Scholarship	Students with family income below 108,000/- Amount awarded = 50,000/ year Valid for PGP course duration completely
The Government of India Merit-cum- Means Scholarship	For 25% of eligible candidates, according to merit basis Amount = 22,00/ year

IIM Bangalore

IIM Financial Aid	PG Students with family income below 8lakh can apply Students can also apply if they are met with unexpected financial crisis
The City Women’s Leader Award	For second year students, from to 25% of their first year results Merit based scholarship, for tuition fees Selection will be based on City Group Interviews and their Statement of Purpose (SoP)
IIMB PGP Alumni First Batch (1976) Scholarship	Given by IIM Bangalore Alumni association A female students from special needs will be benefited Amount = 75,000/- along with a medallion, and certificate Male students will be considered if there is no eligible female students
Society General Global Solution Centre India Scholarship	Merit based scholarship for tuition fees Selected at the end of first year Include interviews by Society General, to find the beneficiary
Yes Bank Scholarship	Given for top 20 of students, in admission criteria and for top 20% students in every batch The students must be a member of at least one student committee Amount = 2lakh
Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD)	Given for students with disability of 40% or more Amount = 2,55,000/ year Must submit disability certificate (issued by any approved medical authority) during application

IIM Indore

Need- based Financial Assistance (NBFA)

For students in- Management; Human Resource Management Programmes; and Integrated Programme in Management (IPM)
Family income must be below 9lakh/ year
Committee will interview the candidates after filtering them by examining their financial needs, according to the applications submitted

IIM Kozhikode

Society General Global Solution Centre India Scholarship	Cover full education expenses of a student Given for students with lower income Short write-up should be presented by the candidates They will also conduct personal interviews to find the beneficiary
Sir Ratan Tata Trust Scholarship	Given for students in second year, with top 10% of first year class scores Students getting anther scholarship will be excluded from this one Amount = 10lakh/each for 5 students