IIM Scholarships and Financial Aid Options

If you are interested in scholarships and financial aid options at IIMs, you have numerous options available. MBA/ PGDM from IIMs is a luxury since the cost of education at IIMs is among the highest, making financial aid a much-needed benefit.

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Types of IIM Scholarships and Financial Aid Options
Scholarships Offered at Different IIMs

Scholarships and Financial Aid Options at IIMs

Pursuing an MBA/ PGDM degree from any of the Indian Institutes of Management can be a major financial hurdle even for decently well-off families, making scholarships and financial aid options at IIMs a highly sought-after benefit. Different IIM campuses offer various types of scholarships to eligible students, each with its own specific eligibility requirements. Most IIM scholarships either require you to be academically exceptional or have financial constraints in order to be eligible for financial aid. The application process for each of these scholarships and financial aid options at IIMs must be known so that during the IIM MBA admission process, you can select the scholarship option best suited for you with ease.

Also Read: Scholarships for MBA Students In India

Types of IIM Scholarships and Financial Aid Options

Check out the different types of scholarships available to you when pursuing management courses at IIMs below:

Category	Type of Scholarship/ Financial Aid	Eligibility Criteria	Coverage/ Benefit	Applicable IIMs (Examples)
Need-Based Aid	IIM Need-Based Financial Assistance	Based on family income (generally < INR 6–8 LPA) and financial background	Partial to full tuition fee waiver	IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Kozhikode, IIM Lucknow
Merit-Based Scholarships	Institute Merit Scholarships	Awarded for top academic/overall performance during MBA	Monetary award or fee concession	IIM Ahmedabad, IIM Bangalore, IIM Indore, IIM Shillong
Government of India Scholarships	Post-Matric Scholarship for SC/ST Students	Belonging to SC/ST categories with parental income < INR 2.5 LPA	Full tuition fee waiver, maintenance allowance, and books allowance	All IIMs
	Merit-cum-Means Scholarship for Minority Students	Minority category (Muslim, Christian, Sikh, Buddhist, Parsi, Jain) with parental income < INR 2.5–3 LPA	Tuition fee waiver (up to INR 30,000/year) + maintenance allowance	All IIMs
	Central Sector Scheme for Top Class Education (SC/ST)	SC/ST students with parental income < INR 6 LPA	Full tuition + living expenses + laptop grant	All IIMs
	Scholarships for Persons with Disabilities (PwD)	PwD candidates with a valid certificate	Fee waiver/financial assistance	All IIMs
Corporate/Private Scholarships	Aditya Birla Scholarship	Top 20–25 performers in the first year across select IIMs	INR 1.75–2 Lakh per student per year (renewable)	IIM Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, Kozhikode
	OP Jindal Scholarship	Based on academic performance, leadership & merit	INR 1.5 Lakh per student	IIMs, including IIM Ahmedabad, Bangalore
	Citi Women’s Leader Award	Women with leadership potential (pre-final year)	Partial tuition support (INR 5–7 Lakh)	IIM Ahmedabad, IIM Calcutta, IIM Bangalore
	Siddhartha Padam Award, T Thomas Scholarship, etc.	Academic/leadership excellence	Variable (INR 1–2 Lakh)	Select IIMs
Institute-Specific Scholarships	Special Endowment Scholarships	Alumni/Donor funded; based on need/merit	Varies (INR 50,000 – INR 3 Lakh)	IIM Calcutta, IIM Lucknow, IIM Kozhikode
Institute-Specific Scholarships	Industry-Sponsored Awards	Based on performance in specific courses/projects	Cash prizes or stipends	Multiple IIMs

Scholarships Offered at Different IIMs

Some scholarships are specific to certain IIM campuses, and you must know which of these scholarships are available at which institute. Check the table below for more details:

Name of IIM	Name of the Scholarship	Eligibility Criteria	Amount
IIM Ahmedabad	IIMA Special Need-Based Scholarships	For economically weak students who wish to pursue PGP or PGP-ABM. This is a fee waiver scheme offered on the basis of the family income of the student.	Depends on the annual gross family income
	Family Income Linked Tuition Fee Waiver Scheme	Students whose total family income is less than INR 6 lakhs in the previous financial year.	NA
	IIMA Special Scholarships (need-based)	Students who have a total family income of less than INR 200,000 as of the last financial year. The salaries of parents/guardians and spouses are considered for this, and the income of the student or their siblings is not considered.	NA
	Industry Scholarships (need-based)	Students who are not registered for the IIMA special scholarships can apply	NA
	SC/ST Scholarships	Only SC/ST category students having valid certificates can apply for this scholarship.	INR 150 per month for 10 months
	GOI Merit-cum-Means Scholarships	At least 25% of students belonging to the non-sponsored student body from both the first and second years are awarded this scholarship.	INR 2,200 per year
	Aditya Birla Group Scholarships	Candidates are shortlisted by ABG on the basis of merit. Around six students are shortlisted.	INR 1.25 lakh per student per annum
	OP Jindal Engineering and Management Scholars	Two students are shortlisted for this scholarship based on their academic performance of the students and an online test, along with a personal interview.	NA
	Dunia Scholarships for scholastic excellence	Two students are shortlisted for this scholarship on the basis of merit.	INR 100,000 per student
	Ocwen Scholarship for Competence in Academics	The scholarship is given to a first-year student who is shortlisted through a research paper and a PI.	NA
	ONGC SC/ST Merit-cum-Means Scholarships	A few of the SC/ST students are shortlisted for this scholarship.	NA
	State Scholarship	State Governments sometimes fund the education of some of the best students from those states.	NA
IIM Bangalore	Name of the Scholarship	Eligibility Criteria	Amount
	Aditya Birla Scholarship	A few students from both first and second year are shortlisted who belong to the top 25% of students of their respective batches in terms of performance.	INR 175,000 per student
	Uday Nayak Scholarship	A second-year student is shortlisted for this scholarship.	INR 10,000
	T Thomas Scholarship	A second-year student is shortlisted for this scholarship based on merit.	INR 100,000
	OPJEMS Scholarship	Two students are shortlisted for this scholarship, one each from the first and second year.	INR 125,000 per student
	Rajesh Kaushik Memorial Scholarship	Selection is strictly merit-based.	INR 150,000 per annum
	Ocwen Financial Solutions Private Limited	One of the students is shortlisted on the basis of a research paper submitted by the student.	INR 180,000
	Cognizant Technology Solutions - B’izard Scholar	Three students are shortlisted on the basis of academic excellence, leadership qualities, and willingness to serve the community and study further in the same field.	Winner: INR 3 lakhs, 1st Runner-up: INR 2 lakhs, and 2nd Runner-up: INR 1 lakh
	Societe Generale Global Solution Centre India Scholarship	Students in need are nominated by the institute and are shortlisted on the basis of interviews.	Full tuition fee waiver
IIM Lucknow	Need-Based IIML Scholarships	15% of students from a batch are offered scholarships on the basis of family income and previous academic performance. Students having a family income of less than INR150,000 can apply.	NA
	Industry Sponsored Scholarships	Students are shortlisted every year based on their academic performance	Varies from INR 6,000 to INR 100,000 p.a.
	Merit-cum-Means Scholarships	25% of the students subject to specified norms are shortlisted for this scholarship	INR 2200 per student p.a.
	Bharti Scholarship	Students whose annual income is less than INR 1.08 lakhs from both first and second years are eligible to apply.	INR 50,000 per annum
	SC/ST Scholarships	All SC/ST students are eligible to apply	INR 1500 per annum
	Other Scholarships	Students are shortlisted based on family income, and their fees and maintenance charges are covered by the government of the state to which the candidate belongs.	NA

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