The Indian Institute of Management Visakhapatnam (IIM Visakhapatnam), often referred to as IIM Vizag, has recently announced a new merit-based scholarship for PGP students. The top two performers in the PGP batch's second year can receive up to INR 6.0 lakh per student. The initiative aims to alleviate any financial constraints that may hinder students' intensive learning process. Below is a comprehensive guide to the scholarships offered, eligibility criteria, required documents, and the application process at IIM Visakhapatnam.
IIM Visakhapatnam Scholarships Offered
IIM Visakhapatnam offers a range of scholarships to students. Below is a table summarising the financial aid statistics in recent years:
Batch | Percent of Batch that received Financial Aid (%) | Average of Quantum of Aid Received (As a percent of total fee) |
2022-24 | 9.93% | 31.11% |
2021-23 | 17.46 | 30.91 |
2020-22 | 11.11 | 25.34 |
2019-21 | 6.40 | 40.00 |
2018-20 | 7.62 | 37.50 |
In addition to these, IIM Visakhapatnam also provides external scholarships. The table below exhibits the summary of external scholarships awarded to IIM Visakhapatnam students:
Batch | Percent of Batch that received External Scholarships (%) | Average of Quantum of Aid Received (As a percent of total fee) |
2022-24 | 3 | 88 |
2021-23 | 4 | 100 |
2020-22 | 10 | 74 |
2019-21 | 6 | 80 |
IIM Visakhapatnam Scholarship Types
The scholarships provided by IIM Visakhapatnam are listed below:
Scholarship Name | Eligibility | Coverage |
Ministry of Tribal Affairs Scholarship (ST) | ST students of PGP first year | Covers tuition expenses fully |
Ministry of Social Justice and Empowerment Scholarship (SC) | SC students of PGP first year | Covers tuition expenses fully |
Department of Persons with Disabilities (PwD) Scholarship | Applicants with a disability certificate verifying a disability not less than 40% | Award amount INR 2,55,000 per annum |
IIM Visakhapatnam Scholarship Eligibility and Procedure
Eligibility for a scholarship at IIM Visakhapatnam requires PGP students to have an annual household income less than INR 5,00,000. The Financial Aid Committee determines the number of awardees and the amount of financial aid. This is a two-step process, including scoring students based on educational qualifications, work experience, annual gross household income, household savings, real estate assets, and other assets. Following this, students are called for an interview with a faculty panel to assess the need for financial aid. The overall weighted average of these scores will determine the scholarship amount.
IIM Visakhapatnam Required Documents
When applying for financial aid, certain key documents are necessary. Here is a list of those:
IT Returns for the last two years | Income Certificate for the immediately preceding financial year |
Household Savings documents | Property documents |
Loan Documents (if any) | EMI payment receipts (if any) |
IIM Visakhapatnam Application Process
The application process for scholarships at IIM Visakhapatnam involves the following steps:
Steps |
Visit the official link where you wish to apply for financial aid. This could be the IIM Visakhapatnam website or the NSP Portal i.e., https://scholarships.gov.in/ |
Look out for the live scholarship programmes at the visited portal. |
Gather the required documents for the applicable scholarship scheme. |
Apply for the scholarship after meeting the eligibility criteria and documentations. Save the generated temporary/ permanent ID for future reference. |