In a remarkable display of solidarity and commitment to higher education, the Indian Institute of Technology Madras (IIT Madras) has secured complete financial assistance for all eligible BTech students, thanks to the concerted efforts of its alumni network and corporate social responsibility (CSR) partners.
IIT Madras Achieves 100% Financial Aid for Eligible BTech Students
This initiative, aimed at students whose annual parental income falls within the range of Rs 1 lakh to Rs 5 lakh, has been sustained for two consecutive years, spanning the academic terms of 2022-23 and 2023-24.
The ‘Merit-cum-Means’ (MCM) Scholarship, an integral component of IIT Madras’s comprehensive financial aid program, supplements various other sources of support provided by the Institute, as well as the Central and State Governments. Notably, students from marginalized backgrounds, including those categorized as SC/ST/PWD, receive additional assistance, such as tuition fee waivers, irrespective of their parental income.
This collaborative effort has significantly alleviated the financial burden on students, allowing them to concentrate fully on their academic pursuits without the stress of managing educational expenses or burdening their families with loans. Prof. V. Kamakoti, Director of IIT Madras, expressed gratitude to the donors for their invaluable contributions, emphasizing the institution’s commitment to facilitating access to quality education for all deserving students.
During the academic years of 2022-23 and 2023-24, a total of Rs. 3.26 crore and Rs. 3.30 crore, respectively, have been disbursed to 490 and 495 students, ensuring that each recipient receives a scholarship of Rs. 66,667 per annum. This financial aid, disbursed in two installments per academic year, underscores the dedication of the institution and its supporters to fostering a conducive learning environment for all.
Prof. Mahesh Panchagnula, Dean of Alumni and Corporate Relations at IIT Madras, lauded the unwavering support of alumni and corporate partners, acknowledging their pivotal role in making this program a resounding success. He reiterated the institution’s commitment to leaving no financially needy student behind, emphasizing the profound impact of such initiatives on individual lives and aspirations.
The testimonials of students who have benefited from the MCM Scholarship further underscore its significance. Mr. Aksshith G, reflecting on his journey as the first engineer in his family, expressed gratitude for the relief provided by the scholarship, enabling him to pursue his academic ambitions without imposing financial strain on his family. Similarly, Ms. Saisri S. and Mr. Aneesh Amuloju shared poignant accounts of familial aspirations and the newfound freedom to focus on their studies, unencumbered by financial worries.
For Mr. Soham Shah, the scholarship not only eased financial burdens but also instilled confidence in his academic potential, reaffirming the belief that dedication and hard work can overcome any obstacles. These personal narratives exemplify the transformative power of education and the critical role of financial assistance in unlocking opportunities for aspiring scholars.
Beyond the MCM Scholarship, IIT Madras extends a range of financial aid programs to meritorious students across various disciplines. Full tuition fee waivers are available for students with annual parental incomes below Rs 1 lakh, while additional concessions and scholarships are provided to SC/ST students pursuing specific programs. Furthermore, scholarships sanctioned by governmental bodies and alumni contributions supplement the financial support available to students pursuing undergraduate and postgraduate degrees.
As an Institution of National Importance, IIT Madras stands as a beacon of academic excellence, nurturing talent and fostering innovation in diverse fields of science and technology. With a commitment to inclusivity and accessibility, the institute continues to pave the way for a brighter future, one student at a time.
In conclusion, the unwavering support of alumni and CSR partners has enabled IIT Madras to fulfill its mission of providing quality education to all, regardless of financial constraints. Through initiatives like the MCM Scholarship, the institute reaffirms its commitment to empowering the next generation of leaders and innovators, laying the foundation for a more equitable and prosperous society.
For further inquiries, please contact the IIT Madras Media Cell at media.iitmadras@imail.iitm.ac.in or call 044 2257 9785.
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