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 |
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 |
|---|---|---|---|
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 | |
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 | |
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 |
You must also check out the articles mentioned below to know more about IIM MBA admission through the CAT exam !
Related Articles:
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