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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, 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.

Note: Apart from the above Scholarships, IIMV strongly encourages students to apply for Merit based Scholarships offered by the various State governments or Private bodies. The institute (IIMV) will extend all possible help to the students to complete the necessary formalities inorder for them to avail that particular scholarship.

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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

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