Financial Aid and Scholarships
The cumulative weighted score shall constitute the Financial Aid Merit Score. Applicants shall be ranked in descending order of the Financial Aid Merit Score for preparation of Merit Lists A and B.
7. Renewal and Continuation
Since the Financial Aid process shall be conducted during the second year, no renewal process shall be applicable.
8. Tuition fee Covered
The Institute Financial Aid shall be applicable only towards the Tuition Fee (Term Fee) payable by the student. It shall not cover any other fees or charges, including but not limited to mess charges, hostel charges, air-conditioning (AC) charges, printing and photocopying charges, fines, deposits, or any other incidental or personal expenses.
9. Interpretation
The Director, Indian Institute of Management Visakhapatnam, shall have the authority to interpret the provisions of this Policy. Any matter not specifically covered herein shall be decided by the Institute, and such decision shall be final and binding.
Scholarship
In addition to the IIM Visakhapatnam Need-Based Financial Aid, students are encouraged to explore and apply for scholarships available through the National Scholarship Portal (NSP), subject to fulfilment of the eligibility criteria prescribed under the respective schemes. Details of some of the major scholarship schemes available through NSP are provided below.
National Fellowship and Scholarship for Higher Education of ST Students:
The Ministry of Tribal Affairs, Government of India, invites applications under the National Fellowship and Scholarship for Higher Education of ST Students for eligible Scheduled Tribe (ST) students. The scholarship is a means-based scholarship, and applicants must satisfy the prescribed eligibility conditions, including an annual family income limit of Rs 6.00 lakh, as per the prevailing scheme guidelines. The scheme provides full tuition fee support along with financial assistance towards other permitted expenses, as prescribed by the Ministry.
Top Class Education for SC Students:
The Ministry of Social Justice and Empowerment, Government of India, invites applications under the Central Sector Scholarship of Top-Class Education for SC Students for eligible and meritorious Scheduled Caste (SC) students, including eligible students admitted to the first year of the PGP programme.
The scholarship is a means- and merit-based scholarship, and applicants must satisfy the prescribed eligibility conditions, including an annual family income limit of Rs 8.00 lakh, as per the prevailing scheme guidelines. The scheme provides full tuition fee support along with financial assistance towards other permitted expenses, as prescribed by the Ministry. Selection is made based on the prescribed eligibility conditions, inter-se merit and the number of slots allocated to the Institute. Accordingly, fulfilment of the eligibility criteria does not by itself guarantee selection.
PM YASASVI Central Sector Scheme – OBC, EBC and DNT Students:
The Ministry of Social Justice and Empowerment, Government of India, invites applications under the PM YASASVI Central Sector Scheme of Top Class Education in College for OBC, EBC and DNT Students for eligible students belonging to the OBC, EBC and DNT categories, including eligible students admitted to the first year of the PGP programme. Applicants must satisfy the prescribed eligibility conditions, including an annual family income limit of Rs 2.50 lakh, as per the prevailing scheme guidelines. The scheme provides full tuition fee support along with financial assistance towards other permitted expenses, subject to the applicable limits and conditions. Selection is subject to the eligibility criteria, inter-se merit, category-wise allocation and the number of slots allotted to the Institute. Therefore, students meeting the eligibility criteria are not automatically guaranteed a scholarship.
Scholarship for Top Class Education for Students with Disabilities (PwD):
The Department of Empowerment of Persons with Disabilities (DEPwD), Government of India, provides scholarship support under the Scholarship for Top Class Education for Students with Disabilities for eligible students with benchmark disabilities pursuing higher education in notified institutions/courses. Applicants must satisfy the prescribed disability, income and other eligibility conditions specified under the scheme guidelines. The scheme provides financial assistance towards tuition fees and other eligible educational expenses, subject to the prescribed limits. Selection is subject to the eligibility criteria, merit and availability of scholarships/slots, as applicable under the scheme guidelines.
Here the following table that contains the details of these schemes along with other scholarships available in NSP for the AY 2026-27.
|
Sno |
Name of the Scholarship |
Scheme Details |
Eligible Category |
Annual Family Income Limit (INR) |
Benefits |
|---|---|---|---|---|---|
| 1 |
National Fellowship and Scholarship for Higher Education of ST Students (formerly Top-Class Education for ST Students) |
Link | ST | ₹ 600,000 | Full Tuition Fee + ₹86,000 for other expenses |
| 2 | Central Sector Scholarship of Top-Class Education for SC Students | Link | SC | ₹ 800,000 | Full Tuition Fee + ₹86,000 for other expenses |
| 3 |
PM YASASVI Central Sector Scheme of Top-Class Education in College for OBC, EBC, and DNT Students |
Link | NC-OBC/EBC | ₹ 250,000 | Full Tuition Fee + ₹86,000 for other expenses |
| 4 | Scholarship For Top Class Education for Students with Disabilities | Link | All PwD Students | ₹ 800,000 | Upto 3.34 lakhs |
| 5 | National Scholarship For Post Graduate Studies | Link | All | NA | Rs.15,000/- per month for 10 months in a year |
Other Scholarship Opportunities:
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 applied/availed by students of IIM Visakhapatnam:
- Rajashri Sahu Maharaj Scholarship of Maharashtra
- Egrantz.3.0 Scholarship by Kerala Govt.
- SBIF ASHA Scholarship
- BC, MBC & DNC Scholarship Scheme of Government of Tamil Nadu.
- IDFC First Bank Scholarship
- Jharkhand e-Kalyan Scholarship Scheme
- Madha Pradesh Scholarship for its domiciled NC-OBC students (Offline process)
- Mukhya Mantri Protsahan Yojana-Himachal Pradesh
- Post Matric Scholarship by Govt. of Maharashtra
- Post-Matric Scholarship scheme by Govt. of Tamil Nadu (Offline process)
- Post-Metric Scholarship Scheme by Govt. of Madhya Pradesh (Offline process)
- Post Matric Scholarships in other states by Govt. of Telangana (Offline process)
- Siddhartha foundation Scholarship for AP students
- ONGC Scholarship
The students are advised to verify all scholarship information, eligibility criteria, deadlines, and application procedures from the respective official sources before applying.
