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Student Loans & Scholarships 2020

Listed below are scholarship and educational loan resources for prospective students of MIT, Manipal. If the answers below don’t cover what you need, or you’re looking for any more information, head over to our official Freshers’ group of 2020 to have your doubts cleared. 

Resources on Educational Loans

Vidya Lakshmi Portal for Student Education Loans

Vidya Lakshmi is an online government portal where aspiring students can view and apply for educations loans, from any place and at any time. Students can browse through different options of financial assistance and make decisions appropriate to their financial background and choice of programme.

State Bank of India (SBI) Scholar Loan Scheme 

State Bank of India offers student loans for B-Tech students at MIT at an effective interest rate of 9% per annum, under category List A.

Key features of this scheme include:

  • Zero processing fees.
  • The loan covers all expenses related to education.
  • The repayment period extends up to 15 years after the Course Period, plus another 12 months of repayment holiday. In case a second loan is availed from SBI for higher studies later on, the student can repay the combined loan amount in 15 years after completion of the second course.
  • Servicing of the interest is not mandatory during the duration of the course.
  • Tuition fees already paid by the student to the institute for the first semester during their admission process may be considered for reimbursement, only if claimed within 6 months of payment.

Click here for further information on State Bank of India’s student loan schemes.


Resources on Scholarships

BTech Students at the Manipal Institute of Technology are admitted into their course as per the fee categories ‘General’ or ‘NRI’.  The following are scholarship opportunities, applicable as per the aspiring student’s category of admission. The following is a summary of the various opportunities offered to BTech students. They do not cover expenses related to accommodation, food and other resources. Detailed information about these opportunities can be viewed by clicking the link in the name of the scholarship.  For best results, view this page on a desktop.

Note:

  •  A student is eligible to avail only 1 scholarship, at any point in time.
  • All scholarship eligible students are required to open a bank account to which the scholarship amount will be disbursed.
  • All the scholarship schemes are governed by the policies and regulations of Manipal Academy of Higher
    Education (MAHE). In the event of any dispute, the decision of MAHE shall be final.

Information for all courses, inclusive of non-BTech Programmes can be found here.

Scholar and Achiever Scholarships (General Category) 

Eligibility:

Minimum eligibility requirement: 80% aggregate in Mathematics + Physics + Optional Subject in 10+2, from a recognised board.

  • Freeship: 100% fee waiver for those in the MET rank range of 1-100, subject to vacancies.
  • Scholar: 20% fee waiver for those in the MET rank range of 101-5000, subject to vacancies.
  • Achiever: 20% fee waiver for the top 5% of the general category intake in years two, three and four each, based on academic performances in the preceding year.

The availability of seats in each branch can be found in the table below.

After due verification, the list of students eligible for this scholarship will be published on the institute’s notice boards by 30 August, 2020. The excess amount paid during counselling will be refunded by 30 September, 2020.

 Board Toppers Scholarships (General Category) 

Eligibility: 75% fee waiver for ranks 1-3 from State Boards, CBSE, ISC, IB, Cambridge and Edexcel each. A minimum overall aggregate score of 90%. A rank certificate must be provided as proof.

After due verification, the list of students eligible for the Board Topper Scholarship will be displayed on the institute’s notice boards by 30 September, 2020. The excess amount paid during counselling will be refunded by 30 October, 2020.

 Scholarships for Academy of General Education Students – SAGES (General Category)

Eligibility: 75% fee waiver for MET ranks 1-10,000 for PUC students who studied at Academy of General Education or TMA Pai Foundation institutions. Limited to 5% of the overall general intake. A minimum overall aggregate score of 70% in 12th.

After due verification, the list of students eligible for this scholarship will be displayed on the institute’s notice boards by 30 September, 2020. The excess amount paid during counselling will be refunded by 30 October, 2020.

 Academy of General Education – AGE (General Category) 

Eligibility: 10% fee waiver for students who have studied at an Academy of General Education institution in their 10+2. AGE students that have opted for SAGES cannot avail this scholarship.

After due verification, the list of students eligible for this scholarship will be displayed on the institute’s notice boards by 30 September, 2020. The excess amount paid during counselling will be refunded by 30 October, 2020.

 B-Tech (Lateral Entry) Merit Scholarship for Manipal Group Polytechnic Institutions

Merit scholarships are awarded to students of BTech (Lateral Entry) coming from Dr TMA Pai Polytechnic, Manipal and SNM Polytechnic, Moodabidri.

Eligibility: 75% fee waiver for students who have studied 6 semesters of diploma in engineering from the above institutions, with an aggregate of 60%.

After due verification, the list of students eligible for the Merit Scholarship will be published on the institute’s notice boards by 30 September, 2020. The excess amount paid during counselling will be refunded by 30 October, 2020.

 Merit Scholarships Non-Resident Indian Students (NRI Category)

Eligibility:

Minimum eligibility requirement: 75% aggregate or equivalent in 12th.

  • Scholar: 15% fee waiver for students scoring ≥ 90%, < 100%. A 10% fee waiver for students scoring ≥ 75%, < 90%.
  • Achiever: 10% fee waiver in 2nd, 3rd and 4th years, if the preceding year’s CGPA is greater than or equal to 7.

After due verification, the list of students eligible for this scholarship will be published on the institute’s notice boards by 30 August, 2020. The excess amount paid during counselling will be adjusted in the subsequent year’s course fee.

 Scholarship for Konkani Speaking Students (General Category)

Eligibility: 10% fee waiver for students speaking Konkani as their mother tongue.

Post verification, the excess amount paid during counselling will be adjusted in the subsequent year’s course fee.

 Merit Scholarship for Children of MAHE Manipal Alumni (General Category)

Eligibility: 10% fee waiver for children of MAHE institutions alumni. The candidate’s father or mother must have graduated from a Bachelors, Masters or PhD program from one of the university’s institutions. A minimum overall aggregate score of 80% in 12th.

Institutions that are applicable under the ‘Merit Scholarship for Children of MAHE Manipal Alumni’ can be found here.

After due verification, the excess amount paid during counselling will be refunded by 30 September, 2020.

 Scholarship Scheme of Interest Subsidy on Education Loans

The scholarship involves the partial reimbursement of the interest on educational loans availed by students from banks. It does not involve a waiver on the program fee, accommodation, food, or any other resources.

Eligibility: 

 AICTE Tuition Fee Waiver (General Category)

This scholarship involves a tuition fee waiver for students from economically weaker backgrounds and the number of seats allocated to this category is limited to 5% of the general category intake.

Eligibility: The minimum requirement stipulates that the candidate’s parental income must be lower than 8 lakh per annum.

At the time of application submission, the candidate’s parents must submit a self-attested
photocopy of their Income Tax (IT) returns for the Assessment Year 2020-21, as proof of their income.

After due verification, the list of students eligible for this scholarship will be communicated to all the candidates via email and candidates are expected to confirm the allotted seat within the timeline by paying the stipulated fee. The fee waiver awarded for the first year, will remain the same for the subsequent years of the course.

Kadambi Scholarship

The Kadambi Scholarship awards students that have demonstrated excellence in sports other than cricket at the State or National level. A scholarship of Rs. 30,000 is awarded to final year students who have excelled in both academics and sports. This scholarship involves no waiver on tuition or any other fees.