Means-Cum-Means Scholarship (MCM)

The parental income is the basis for the ‘means' criterion of the scholarship. At present students whose parents annual gross income from all sources for the previous Financial year does not exceed Rs. 5,00,000/ , are eligible to apply for Merit-­cum­-Means Scholarship.
The student with a CPI of 6.00 and above only are eligible to apply for Merits-cum Means Scholarship (MCM)

Facilities of Free messing (For SC/ST students only)

All SC/ST students are exempted from the payment of tuition fees. The facilities of free messing will be granted to eligible SC/ST students of B.Tech., Dual Degee (B.Tech. + M.Tech.), B.S. and B.Des. Programme as detailed below. For Dual Degee students, it is available only upto 4th year.
The parental income is the basis for the means criterion of the scholarship. At present, students whose parents’ annual gross income from all sources for the previous Financial year does not exceed Rs. 5,00,000 are eligible to apply for the above facilities.

Remission of Fees

Remission of fees will be granted to eligible students of B.Tech, Dual Degee (B.Tech + M.Tech), B.S. and B.Des from 2016 Batch onwards.
The students whose Gross Income of parents for the previous Financial year is not more than Rs. 5,00,000/­ per annum (without any standard deduction) are eligible to apply for Remission of fees.
The economically backward students are eligible for remission of tuition fee as follows:
1.Those with a parental income less than Rs. 1 Lakh per annum shall get full remission of the tuition fees
2.Those with a parental income between Rs.1 Lakh and Rs. 5 Lakhs per annum shall get remission of 2/3rd of the tuition fees.

Scholarship Given

Income Limit			SC / ST Category Students
	Women	Others	Women	Others
Income Upto Rs. 1L	Exemption from payment. of tuition fees MCM Rs. 40,000 per year Women merit scholarship of Rs. 10,000 per year	Exemption from payment. of tuition fees MCM Rs. 40,000 per year.	Exemption from payment. of tuition fees Women merit scholarship of Rs. 10,000 per year Free messing Pocket allowance @ 500 p.m Exception of payment hostel rent	Exemption from payment. of tuition fees Free messing Pocket allowance @ 500 p.m Exception of payment hostel rent
Income above Rs. 1L to 3L	Exemption from payment. of tuition fees MCM Rs. 30,000 per year Women merit scholarship of Rs. 10,000 per year	Exemption from payment. of tuition fees MCM Rs. 30,000 per year.	Exemption from payment. of tuition fees Women merit scholarship of Rs. 10,000 per year Free messing Pocket allowance @ 500 p.m Exception of payment hostel rent	Exemption from payment. of tuition fees Free messing Pocket allowance @ 500 p.m Exception of payment hostel rent
Income above Rs. 3L upto 5L	Exemption from payment. of tuition fees MCM Rs. 20,000 per year Women merit scholarship of Rs. 10,000 per year	Exemption from payment. of tuition fees MCM Rs.20,000 per year.	Exemption from payment. of tuition fees Women merit scholarship of Rs. 10,000 per year Free messing Pocket allowance @ 500 p.m Exception of payment hostel rent	Exemption from payment. of tuition fees Free messing Pocket allowance @ 500 p.m Exception of payment hostel rent

Please Note:
The benefits are available for the standard duration of the program on the registration and satisfactory progress. It will be limited to 25% of the admitted students in each batch.
Pocket allowance is only for 10 months only in each academic year.
Tuition fee is waived off for SC/ST/PD category students.
In case of any query or clarification, contact person in-charge of UG Scholarships in Academic Office
(2nd floor, main Building)

Named Scholarship Portal

Named Scholarships­ Office of the Dean Alumni & Corporate Relations manages the Named scholarship endowed by the alumni of the Institute and other wellwishers. These Scholarships are awarded based on the following eligibility criteria :­
Merit Criterion: For new entrants of B.Tech., Dual Degee (B.Tech. + M.Tech.), B.S. their JEE AIR and for B.Des. their UCEED Rank, will be the criterion. In subsequent years, the criterion will be their academic performance during the preceding academic year.
Means Criterion: The parental income is the basis for the ‘means' criterion of the scholarship. At present students whose parents annual gross income from all sources for the previous Financial year does not exceed Rs. 5,00,000/ , are eligible to apply for Merit­cum­Means Scholarship.
For complete information about the scholarships available, please visit this page.
For FAQs about scholarships, Please click here
In case of any queries, please send email on acrscholarship@iitb.ac.in.

IT Support Scholarship

The Director, IIT Bombay in collaboration with the generous alumni of IIT Bombay and Dean ACR office has come up with a financial support scheme for the economically weak students. This particular financial scheme finances the students to buy a laptop/personal computer and also provides students with a monthly data pack charge.

Loans available

Scholar's loan (by SBI)
Does not require mortgage or security
Loan can be in the name of the student or jointly with parents
The interest rate will probably be 6.65% this year.
All the information for SBI Loan can be found here

Vidyalaxmi loans
Family income should be less than 9 lpa
The interest rate can be expected to be about 8.5% pa and sophies can also apply from this year at about 9.24%
Only the interest on the tuition fee, i.e 1 lakh per semester, is paid by IIT-B up till graduation. If he/she doesn't get placed after graduation, the student gets a year grace period. The loan has to be taken jointly with parents names
Income papers are to be submitted to the academic office in the Main building.
13 people applied last year and the reimbursement of money is still pending.

SBF (Student Benevolent Fund)
Family income certificate is required, and mostly given to the students in the second semester (since no CPI can be associated with students in the first semester)
While exceptional cases may be approved, family income should be lesser than 6.5 lpa. (This particular point is only for information, not to be published)
Tuition and the rest of the fees, along with mess advance, included.
Bad performance of a student may lead the Dean to cancel the scholarship
4% interest rate (which might be increased)
If the student has signed an agreement to repay after he/she gets placed; but later opts for more time, he/she has to inform the office.

AP (by IITB-AA)
Financial Aid Programme* - 0% interest rate - By Tata Motors
For UGs and PGs whose annual family income falls below 6.5 lpa, given the student has a cpi > 6
The student can contact the Alumni office through an online portal where they would be given the appropriate link to apply.
Documents required for application - 12th Marksheets, JEE advanced results, Family income certificate, Parents Residential proof, Parents ID proof
This is followed by an interview with the FAP committee ( IIT-B Alumni )
Various kinds of assistance provided include - Tuition and mess fee; Purchasing a laptop; Internship expenses
The repayment is done after placement, with a grace period of 6 months
The above can be done by the PGs from their stipends
For further information: Contact IIT Bombay Alumni Association Alumni Centre, 1st Floor Gulmohar Building, IIT Bombay e-mail: rama.iitbaa@gmail.com Tel: 022-25767086/7019