IIM Visakhapatnam has recently introduced merit-based scholarship for the PGP Batch of 2022-24. The scholarships offered are up to a maximum of INR 6.0 lakh per student for Top 2 scorers of the PGP batch(2nd year).

IIM Visakhapatnam, also popular as IIM Vizag, has initiated many Scholarships with an objective of providing intense learning to students without any sort of financial difficulties.
 

IIM Visakhapatnam Scholarships Offered Year Wise Trends

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IIM Visakhapatnam External Scholarships Offered

The following table represents the summary of external scholarships awarded to IIM Visakhapatnam:

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Have a look at the various scholarships available at IIM Visakhapatnam:-

Scholarships offered at IIM Visakhapatnam 

• Ministry of Tribal Affairs Scholarship (ST)

The Ministry of Tribal Affairs, associated with the Government of India, provides financial assistance for Higher Education of Scheduled Tribe students (of PGP first year). The scholarship tends to cover the tuition expenses in full.

Scholarship Specification :- National Scholarship for Higher Education for Scheduled Tribe students

• Ministry of Social Justice and Empowerment Scholarship (SC)

The Ministry of Social Justice and Empowerment Government of India strives to give away financial support for Higher Education of meritorious SC students (of PGP first year). The scholarship is a means scholarship that covers tuition expenses in full.

Scholarship Specification:- National Scholarship for Higher Education for Scheduled Caste.

• Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD)

A person who is having a disability not less than 40% and having a disability certificate issued by any competent medical authority, is eligible for this financial aid. This is a means scholarship which is worth INR 2,55,000 per annum.

• Merit Cum Means Scholarship for Professional and Technical Courses CS

This scholarship is awarded to the poor, and meritorious students who belong to minority communities with an aggregate of not less than 50% marks or equivalent grade in the previous final examination Also, the annual income of their parents/guardians from all sources does not exceed INR 2.50 lakh.

• Complimentary Scholarships offered by Official Authorities 

Apart from the above mentioned, students could also apply for scholarships offered by other official bodies. IIM Visakhapatnam encourages students to opt for merit-based scholarships offered by the state and central government or even private bodies. 

Students can also explore the scholarships at the official NSP portal i.e. National Scholarship Portal through https://scholarships.gov.in/ and apply as per the eligibility criteria of the respective scheme. 

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IIM Visakhapatnam Scholarships Eligibility Criteria and Procedure

Eligibility- All those PGP students whose annual household income is less than INR 6,00,000/- (Rupees Six Lakh only) are eligible to apply for Scholarships at IIM Visakhapatnam. In case of unexpected foreseen circumstances, students may also be eligible to apply for such financial aid. 

Procedure for Alloting Scholarships- 

• The Financial Aid Committee has set certain guidelines for deciding the number of awardees and amount of financial aid. It is a two-step process of which the first step involves scoring the students based on following factors:-

1. i) Annual Gross Household Income (including income of the student if employed before joining IIMV and outstanding loans if any, provided they were not taken for conspicuous consumption)
2. ii) Household Savings

iii) Real Estate Assets

1. iv) Other Assets

• After having gone through the above factors, students shall be called for a personal interaction with a faculty panel. Thereby having understood the genuineness of need for financial aid, students shall be scored a Financial-need Score. 

• The overall weighted average of the scores thus yielded would decide if students would get a 100%, 80%, 60%, 40%, or 20% scholarship. 

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What documents are needed to apply for Scholarships at IIM Visakhapatnam? 

The following documents are essential for applying for IIM visakhapatnam Financial Assistance:-

• Income Certificate
• IT Returns for the last two years
• Household Savings documents: Includes all savings and investments such as bank savings accounts, PPF, term deposits, savings certificates, investments in bonds, mutual funds, equity, etc. of self and all members of the family.
• Property documents: Includes any real estate asset, such as apartment, home, or land ownership.
• Other asset documents Affluence): Includes assets such as Two-wheeler, Four-Wheeler, Washing Machine, Refrigerator, Home theater, AC, TV, Digital/Video camera etc.
• Loan Documents (if any)
• EMI payment receipts (if any)

How to apply for scholarships at IIM Visakhapatnam? 

The basic procedure for applying for Scholarships at IIM Visakhapatnam are as follows:-

Step 1:- Visit the official link where you would wish to get financial aid from. It could be IIM Visakhapatnam website or NSP Portal i.e. https://scholarships.gov.in/ or among some other official bodies. 

Step 2:- Look out for the scholarship programmes going live at the portal visited. 

Step 3:- Arrange the required documents for the scholarship scheme applicable. Some of the mutual documents might include Income Certificate, IT Returns for the last two years, Household Savings documents, Property documents, and other asset documents (Affluence) such as Two-wheeler, Four-Wheeler, Washing Machine, Refrigerator, Home theater, AC, TV, Digital/Video camera etc. Some optional documents may include Loan Documents and EMI payment receipts. 

Step 4:- Apply for the scholarship post completing the eligibility criteria and documentations. Save the temporary/ permanent ID generated for future reference. 

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