Financial Aid and Scholarships

Financial Aid

IIMV extends financial aid to students in need of financial assistance. The objective of the Financial Aid Policy at IIMV is to ensure that no student is deprived of an education at the institute for financial reasons.

All PGP students with annual household income below INR 6,00,000 are eligible to apply for financial aid. Other students with severe financial difficulties arising from sudden unforeseen circumstances are also considered.

The Financial Aid Committee undertakes a two-step process for deciding the number of awardees and quantum of aid. In the first stage, the students are given a financial status score based on four criteria – 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), Household Savings, Real Estate Assets, and Other Assets. Based on this score, some of the students are called for a personal interaction with a faculty panel. During these interactions, faculty panels evaluate the financial need of the student, as well as establish the genuineness of the details provided by the student in the application and assign a financial need score. Based on the weighted average of these two scores, applicants are provided 100%, 80%, 60%, 40% or 20% financial aid.

Scholarships

In addition to the Financial Aid, which is provided purely on the basis of financial need, PGP students are also encouraged to apply and avail the benefit of the following Merit-cum-Need based scholarships:

  1. Ministry of Tribal Affairs Scholarship (ST): The Ministry of Tribal affairs, Government of India invites applications for the National Scholarship for Higher Education for Scheduled Tribe students of PGP first year. This is a means scholarship that covers tuition expenses in full.
  2. Ministry of Social Justice and Empowerment Scholarship (SC): The Ministry of Social Justice and Empowerment Government of India invites applications for the National Scholarship for Higher Education for Scheduled Caste students from Meritorious SC students PGP first year. This is a means scholarship that covers tuition expenses in full.
  3. Ministry of Social Justice and Empowerment Department of Persons with Disabilities (PwD): A person with disability having not less than 40% disability and having a disability certificate issued by any competent medical authority. . This is a means scholarship is 2, 55,000 per year. Apart from above scholarships, students can also apply for other State Government Scholarships routed, through financial aid and scholarship office.
  4. Merit Cum Means Scholarship For Professional and Technical Courses CS: This scholarship will be awarded to the students who have secured not less than 50% marks or equivalent grade in the previous final examination and the annual income of whose parents/guardians from all sources does not exceed Rs.2.50 lakh.
  5. Aditya Birla Scholarship: This merit-based scholarship is given to PGP students of both the first and the second years. The students who are granted the scholarship during the first year are eligible to apply for renewal in the second year, provided they belong to the top 25% of the batch in the first year. The scholarship amount is INR 1.75 lakh per student.
  6. OPJEMS Scholarship: This merit-based scholarship is given to PGP student of second year .The first ten toppers of 2nd year based on the academic performance in the first year are eligible to apply Basis of online test conducted by OP Jindal Group one student of each academic year will be awarded. The scholarship amount is INR 1.50 lakh
  7. Citi Women’s Leader Award: This is a merit scholarship that covers the second year’s tuition expenses. Candidates are selected from the top 25% of the batch at the end of the first year. Nomination is done by the institute and the students are selected on the basis of their Statement of Purpose and subsequent interviews scheduled by Citi Group.
  8. Hindustan Unilever / T Thomas Scholarship: This merit-cum-means scholarship is given by HUL to one PGP second-year student. The scholarship of INR 1 lakh.
  9. NTPC Scholarship Scheme: The scholarship amounts to INR 48,000 per year. Students who belong to SC/ST/PwD categories and are in their second year of management studies, having passed the first-year examination in one attempt, are eligible for the scholarship.

logo 1

imp link1

Contact us
Indian Institute of Management Visakhapatnam
Andhra Bank School of Business Building
Andhra University Campus
Visakhapatnam – 530 003
 +91 891-282 4444
 info@iimv.ac.in

voters

© 2019 iimv.ac.in. All Rights Reserved.