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IIM Visakhapatnam Merit-Based Scholarship

“IIM Visakhapatnam is happy to announce a merit-based scholarship. As per the scholarship, waiver of tuition fee or scholarship (as reimbursement of tuition fee paid) up to a maximum of Rs.6.0 lakh per student for Year-2 of PGP will be granted to the topmost two students in academic performance (i.e., highest and second highest CGPA) in each of the four sections being envisaged. The CGPA will be reckoned as at the end of the 1st year, i.e., Term-3. The said grant is subject to the potential awardees satisfying all the program requirements as laid down in the PGP handbook”.

IIM Visakhapatnam Financial Aid (Merit-cum-Means Basis)

Indian Institute of Management Visakhapatnam, as a premier business school, offers various postgraduate courses. Its flagship program is the Post Graduate Programme (PGP) in Management, which leads to an MBA degree. This is a two-year, full-time program that is entirely residential. Admission to this program is conducted on an all-India basis through the Common Admission Test (CAT). Recognizing the financial challenges that students may face in affording the course fees, the Institute provides Financial Aid to deserving students. These students are also encouraged to apply for scholarships offered by various ministries under the Government of India, different state governments, and other agencies.

All PGP students with annual household income below INR 5,00,000/- (Rupees Five Lakh only) are eligible to apply for financial aid.

The Financial Aid Committee undertakes a two-step process for deciding the number of awardees and the quantum of aid. In the first stage, students will be asked to submit an application form which requires the below details:

1. Educational Qualifications
2. Work experience (if any)
3. Annual Gross Household Income (including income of the student if employed before joining IIMV and outstanding loans, if any)
4. Household Savings
5. Real Estate Assets
6. Other Assets

All eligible students who have duly submitted their applications are encouraged to partake in a personal interview conducted by a panel of faculty members. In this interview, the faculty panel evaluates the financial requirements of the students based on the data provided in the application form, and upon their assessments, assigns a Financial-Need Score to each student. By using the weighted average methodology established by the committee, finally shortlisted applicants may be granted financial assistance.

Around 2% of the batch will receive 100% and around 6% of the batch will receive 25% of the financial aid as a tuition fee waiver.

IIMV students wishing to apply for the Financial Aid are advised to be ready with the following documents by the time of Program Registration:

• IT Returns document for the immediately preceding financial year.
• Income Certificate for the immediately preceding financial year.
• Household Savings documents: This will include 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: This will include any real estate asset, such as apartment, home, or land ownership.
• Loan Documents (if any).
• EMI payment receipts (if any).

Summary of the Financial aid offered by IIM Visakhapatnam:

IIMV has a strong commitment towards ensuring an environment where students are not deprived of education due to financial issues. With this commitment and aim, IIMV has increased both the quantum of need-based financial aid given to the students as well as the number of students benefitting from the policy. A snapshot of the data of financial aid given to the students is provided below.

Scholarships

In addition to the Institute’s Financial Aid, students are also encouraged to apply for the various scholarships mentioned under the National Scholarship Portal (NSP) - https://scholarships.gov.in/ as per the eligibility criteria of the respective scheme. 

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 (i.e., 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 (i.e., of 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 having not less than 40% disability and having a disability certificate issued by any competent medical authority, may apply.
4. Merit Cum Means Scholarship for Professional and Technical Courses CS:  This scholarship will be awarded to the poor, and meritorious students belonging to minority communities 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.

Note: For accurate details regarding a Scholarship scheme, please refer to the respective scheme guidelines available on the National Scholarship portal (NSP).

In addition to the scholarships mentioned above, IIM Visakhapatnam strongly encourages its students to explore various scholarship opportunities offered by central, state, and private organizations. The institute is committed to providing comprehensive support to students in completing the required procedures to apply for these scholarships. Below is a list of some scholarships that have been availed by students of IIM Visakhapatnam:

• IDFC First Bank Scholarship
• Madha Pradesh Scholarship for its domiciled NC-OBC students (Offline process)
• BC, MBC & DNC Scholarship Scheme of Government of Tamil Nadu.
• Telangana State Post Matric Scholarships in other states (Offline process)
• Mukhya Mantri Protsahan Yojana-Himachal Pradesh
• PG Scholarship Scheme for SC ST Students for Pursuing Professional Courses by UGC
• Bihar Credit Card Scheme (Offline process)
• PG Scholarship Scheme for SC ST Students for Pursuing Professional Courses by UGC

Summary of External Scholarships awarded to IIM Visakhapatnam Students:

IIM Visakhapatnam has registered on the National Scholarship Portal (NSP) in the year 2018. IIMV promotes its students to apply for scholarships from various external funding agencies. IIMV is further committed to providing all the aid and assistance to students who apply for the external scholarship. Below is a snapshot of students who have benefited from external funding.

*The Scholarships are yet to be announced for the batch of 2022-24 for the year 2023-24.

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