IIT-Madras provides financial aid to BTech students
This support frees up the students to focus completely on their studies and future academic pursuits.
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CHENNAI: The Indian Institute of Technology Madras (IIT-M) on Thursday informed that their Alumni and CSR partners have rallied together to provide financial support to 100 per cent of BTech students whose annual parental income is in the ‘Rs 1 lakh to Rs 5 lakh' category for two consecutive years (2022-23 & 2023-24).
According to the release issued by the premier institution, "The ‘Merit-cum-Means’ (MCM) scholarship is one among the numerous financial assistance and scholarship support provided to students by IIT-M, the Central and State Governments. Students from SC/ST admitted in all programs are exempted from paying tuition fees irrespective of their parental income."
"This MCM scholarship, in combination with the two-third tuition fee waiver by the Government of India for students in this category, covers the 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," read the release from IIT-Madras.
Highlighting the importance, Director of IIT-M, Kamakoti Veezhinathan 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."
Thanking the alumni and donors for their contributions towards students’ welfare, professor Mahesh Panchagnula, Dean (Alumni and Corporate Relations), IIT-M, 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."
While Rs 3.26 crore was disbursed to 490 students during 2022-23 AY under this scholarship, a sum of Rs 3.30 crore has been committed for 495 students during the current academic 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.
