IIT Madras Alumni, CSR Partners To Provide Finanacial Assistance to Eligible BTech Students

IIT Madras Alumni and CSR partners collaborated to ensure that all BTech students, whose families income is between Rs 1 lakh and Rs 5 lakh annually, received financial assistance for two consecutive academic years, 2022-23 and 2023-24. Check details here 

The alumni of the Indian Institute of Technology (IIT) Madras, along with CSR partners, collaborated to offer financial aid to every BTech student whose parents' annual income falls within the range of Rs 1 lakh to Rs 5 lakh for two consecutive years. Highlighting the importance of such financial support, Prof. V. Kamakoti, Director, IIT Madras, said, “We are trying our best to provide as much financial support as possible to our students in need. We convey our immense thanks to the donors for making this happen.”

The 'Merit-cum-Means' (MCM) scholarship is part of a wide array of financial support and scholarship offerings from IIT Madras, as well as from the Central and State Governments. This scheme exempts students belonging to SC/ST categories and those enrolled in all programmes from tuition fees, regardless of their parents' income. 

Thanking the alumni and donors for their contributions towards students’ welfare, Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT Madras, said, “It is extremely gratifying that our office has been able to ensure that no financially needy student was not covered by full scholarship for two consecutive years. We express our deepest gratitude to all alumni and corporate partners who have supported this program.”

Merit-cum-Means (MCM) scholarship

This MCM Scholarship, in combination with the two-third tuition fee waiver by Government of India for students in this category, covers entire tuition fees of eligible B.Tech./Dual Degree students belonging to EWS/GE/OBC Categories. This support frees up the students to focus completely on their studies and future academic pursuits without having to worry about their financial situation or education loans.

While Rs. 3.26 crore was disbursed to 490 students during 2022-23 under this scholarship, a sum of Rs. 3.30 crore has been committed for 495 students during the current financial year of 2023-24. The Scholarship per student is Rs. 66,667, which is split into two halves and disbursed during each of the two semesters per academic year.

Other Financial Assistance at IIT Madras 

Meritorious students at IIT Madras receive financial support through scholarships and fellowships. Scholarships funded by alumni are awarded to top-performing students, determined by their academic achievements. Moreover, students with an annual family income of less than Rs 1 lakh are eligible for a complete waiver of tuition fees at IIT Madras.

SC/ST M.A. students at IIT Madras with parental incomes under Rs 4.5 lakh received free mess, Rs 250 monthly pocket allowance, and waivers for tuition and hostel fees. Additionally, 25% of M.A. students below this income threshold received Merit Scholarships. Meritorious B.Tech students benefit from scholarships by NCERT, Central, and State governments, including the Tamil Nadu Scholarship for backward classes. 

M.Tech students entering via GATE receive a Rs 12,400 monthly assistantship, while M.Sc students earn a Rs 1,000 monthly merit scholarship and tuition fee waivers.

Full-time Ph.D. engineering students at the Institute receive a monthly HTRA of Rs 37,000 for the first two years, increasing to Rs 42,000 for the subsequent three years. Additionally, the Institute supports scholars attending international conferences with financial aid, covering up to Rs 1,50,000, including registration fees, for both M.S. and Ph.D. students.

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