With the announcement of JEE Advanced results, nearly 10000 brilliant minds of the country have their set their eyes on various courses in their dream colleges i.e. the IITs. While the jubilant performers are getting accolades for their performance, many of the qualifiers who are not from financially affluent backgrounds have started to figure out the means for paying the tuition and other fees for the course in IITs.
Until a few years back, the fee in IITs, being the apex institutions in technology, was highly subsidised and IIT’ians have paid very less fee in comparison to their peers studying in other colleges. However, the trend has changed in the past few years when the fee in the IITs and many other government institutes of high repute has been revised and hiked. The revised fees pattern is aimed at making the IITs empowered enough to manage a part of their expenses by themselves.
While the current fee charged by the IITs is higher than before, it is very easy for the students to raise the amount through bank loans. All the major banks offer easy student loans to the JEE qualifiers.
Apart from the other means of raising finances for IIT fees, meritorious and needy students are entitled to various scholarships. Many of these scholarships are provided by the government and many by private bodies. While a few scholarships are given to the needy students, other scholarships are extended to the learners from lesser privileged strata of the society.
- National scholarships
These scholarships are facilitated by the respective state of the student. The information about these scholarships and the eligibility criteria can be obtained from the institute after admission. These scholarships need to be renewed after each academic session and can be stopped if the students cease to meet the requirements.
- Ministry of Minority Affairs Scholarship
The ministry offers scholarships to candidates from minority religions whose parents’ annual income does not exceed INR 2.5 Lakh. Out of the total scholarships, 30% are reserved for girl students.
Under this scheme, student gets reimbursement of fee upto INR 20,000 and study/living expenses upto INR 10,000.
- Ministry of Social Justice and Empowerment, Govt of India
This scheme makes scholarships available to students belong to the Scheduled Caste category whose parents earn lesser than INR 2 lakh per annum. This scholarship entails one compensation of INR 45,000 and monthly expenses allowance of nearly INR 5,200.
This scholarship is extended to the top 10 students based on JEE ranks.
- Ministry of Tribal Affairs, Govt of India
This scheme makes scholarships available to students belong to the Scheduled Caste category whose parents earn lesser than INR 2 lakh per annum. This scholarship entails monthly expenses allowance of nearly INR 5,200.
This scholarship is extended to the top 5 students based on JEE ranks.
Ministry of Human Resources Development offers scholarships to single girl child which amounts up to an annual amount of INR 40,000.
- Inspire Scholarship
This scholarship is funded by Department of Science and Technology and offers a reward of INR 60,000 to students in dual degree programs (BS+MS or B.Tech+M.Tech)
- Aditya Birla Scholarship
This scholarship is funded by Aditya Birla Group to top 20 JEE rankers and offers a reward of INR 60,000 to students. This scholarship needs to be renewed every year based on criteria fixed by Aditya Birla Group.
- Institute specific scholarship
All the institutes have many scholarship programs. For accessing these, students need to get in touch with the administration office in the Institute and track the notice board regularly.
- Various regional scholarships
Many Non-Profit charitable and philanthropic organisations offer scholarships to students based on their criteria. Many such scholarships are limited to students from a particular caste or region.
Students need to be proactive to keep a check on all the scholarships. Keep following myPAT blog for more updates on scholarships.