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Financial Support and Loan Details

Different forms of financial assistance are available to selected students to cover their tuition and accommodation expenses.
 

Azim Premji Scholarships

Scholarships are available to both fresh graduates and working professionals who meet the economic eligibility criteria based on family income.

The scholarships will cover part of the tuition and student accommodation related boarding and lodging expenses, but will not include any out of pocket or living expenses. Students eligible for part scholarships can choose to pay the balance fees either from their personal funds or through educational loans. The University will conduct financial counseling as part of the interview process or after selection in order to further understand and assess the student needs and will also conduct an independent verification process to validate the information provided.
 

Educational Loans

The University will facilitate educational loans for interested students through tie-ups with banks. These loans cover partial/full tuition fees and living expenses. Students are also free to avail of loans from
any bank of their choice.  
 
Loan Repayment Support is available to students who take up careers in the social sector or pursue higher education in related domains, and contribute through teaching, research or field engagement. The University recognizes that in cases where the students pursue higher education in related social domains subsequent to completion of courses at the University or decide to engage with the not-for-profit sector, such students may need continued support for the repayment of the student loan availed to pursue a course at the University. The University is planning to extend such support in terms of interest waiver or subsidy, part reimbursement of the loan etc. The modalities of such support are being worked out and more details will be shared with the selected and eligible students during the admission process.
 

Additional Support for Working Professionals

The University strongly encourages experienced professionals working in the social sector to apply, as they bring in rich field experience and add significant value to class room discussions. We also  believe that the academic environment in the University and the rigour of the courses will provide them with deeper insights and help them become effective social change agents. The University is aware that some of these working professionals may need additional financial support.
 
The University provides such additional financial support for a limited number of students in very deserving cases. This support is normally available for students already working in NGO/not-for-profit sector with minimum 2 years of work experience and who are leaving their current employment to pursue the course. Financial assistance schemes may also be available for applicants from other sectors, keen on pursuing a career in the social sector. Information on these will be shared with the respective students at the time of their joining.
 
Students will need to provide documentation such as proof of employment, proof of their income during such employment and proof that the organization they are working with is registered under regulations applicable  to the not-for-profit sector. The University will conduct an independent due diligence and verification for all such students and its decision in this regard is final.
 

Sponsored Candidates

Candidates sponsored by other organizations are welcome at the University – the sponsoring organization can approach the University for a direct and long-term tie-up. Sponsored candidates will also go through the same selection process as all other applicants.
 
The financial support programmes will be available for sponsored candidates as well, post assessment of the nature of the sponsorship.
 
No deserving candidate having been selected through the University admissions procedure will be denied admission on grounds of financial needs.
 

Please note: Admissions for Masters Programmes 2013-15 have been closed. Please await admissions notice for 2014-16. The above information pertains to 2013-15 admission process.

INFORMATION ON EDUCATION LOAN

 

The University will facilitate educational loans for interested students through Syndicate bank. Please read the following information carefully before filling up the loan application form.

  1. This process and documentation is applicable to the loans facilitated by the University through collaboration with the Syndicate Bank. Students who are availing loans from other banks need to follow the procedures adopted by the respective bank.
     
  2. The loan is classified as an educational loan and requires a co-applicant, along with the student. Normally this will be the parent or guardian of the student.
     
  3. As part of the loan process students are required to open a savings bank account with Syndicate Bank.
     
  4. The loan is repayable in equated monthly installments over a period of five years or seven years.
     
  5. The maximum loan available to the students is Rs. 2,22,000, which is the total fee payable by the students for four semesters (Rs.55,500 per semester x 4 semesters). However the student can decide the actual amount of loan they require and accordingly apply to the bank.
     
  6. The interest rates on the loan are fixed by the bank and will vary according to the bank’s terms. The bank will inform the students the exact amount of EMI (Equated Monthly Installment).
     
  7. The current rate of interest is 12.25%. The table below provides the EMI for 5 year / 7 year repayment tenure. The loan repayment starts on the student getting an employment on graduation (in 30 months) or a maximum period of one year after the completion of the course (in 36 months), whichever is earlier.

    Amount of loan Interest for 30 months Balance of loan at the end of 30thmonth EMI after 31st month for a period of 60 months (5 years) EMI from 31st month for a period of 84 months (7 years)
    2,22,000.00 67,988.00 2,89,988.00 6,488.00 5,158.00
    1,11,000.00 33,994.00 1,44,994.00 3,244.00 2,579.00
    Amount of loan Interest for 36 months Balance of loan at the end of 36th month EMI after 37th month for a period of 60 months (5 years) EMI from 37th month for a period of 84 months (7 years)
    2,22,000.00 81,586.00 3,03,586.00 6,792.00 5,400.00300
    1,11,000.00 40,793.00 1,51,793.00 3,396.00 2,700.00

     
  8. The bank conducts its own verification of the documentation and this includes verification at the permanent address of the student. This is done by the Syndicate Bank branch closest to the applicant’s permanent residence.

  9. The bank may require additional documentation and it is the student’s responsibility to provide these documents to the satisfaction of the bank.

10. The University will provide all assistance required in processing the loan; providing the fee letters or bonafide certificates if required, attestation of
       documentation, responding to bank’s queries etc.


APPLICATION PROCEDURE FOR STUDENT EDUCATION LOAN - FINANCIAL YEAR (2013-14)


  1. Loan Application form and Savings Bank Account Opening form of Syndicate Bank are uploaded on the website.
     
  2. Fill in the loan Application form. For your reference a sample filled in Application form is uploaded.
     
  3. Fill in the Savings Bank Account form. Please note that this has to be a joint Account along with the proposed Co- Applicant for the loan.
     
  4. Submit the duly filled Loan Application form and Account Opening form to the loan section at Registrar’s office along with documents & photographs of student and Co-applicant.Please note both form require the signature of the co-applicant to ensure speedy approval of the loan.
     
  5. Ensure that you have all the original documents as mentioned in the check list. For your reference a check list for loan application documents has been uploaded on the website. Provide original and a photocopy of all the documents to Registrar’s Office after joining the programme. The originals will be returned to you after verification.
     
  6. The Loan section at the Registrar’s office will verifyand attest the entire Loan Application Documents and introduce your account and forward all the documents to the Syndicate Bank, Electronic City Branch, Bangalore. The Saving Bank Account will be opened immediately thereafter and account number is allotted. Please collect the account number from the Registrar’s Office.
     
  7. Syndicate Bank will verify the documents and conduct field investigation as required under Know Your Customer (KYC) norms. If the bank requires any additional documents, they will inform the same which will be intimated to the students by the Loan section at University.
     
  8. Please ensure that the co-applicant is present at the permanent address (mentioned in your Application form), during the KYC (know your customer) verification and if the bank so requires request the co-applicant to meet the bank officials to complete the KYC process with proper identification (like Pass port or Voters ID or Driving’s License or, Aadhaar documents)
     
  9. Once the KYC norms are completed,the report will be sent to the Syndicate Bank, Electronic City Branch, Bangalore.
     
  10. If required Students will be intimated to meet the Bank Manager along with the Original ID Proof, Address Proof, Income Certificate etc., and the originals of those documents which you have submitted along with Loan Application during admission. (Ex. PAN Card, Voter ID Card, Passport, Electricity Bill, Statement of Bank Account, Ration Card, Aadhar Card etc.,)
     
  11. Students have to bear the expenses incurred for the E-Stamp paper. The stamp paper will have to be in the names of student and co-applicant. E-Stamp paper rate depends on the State and it would vary from Rs.400 - Rs.500/-
     
  12. The student will have to sign the required documents and the stamp paper purchased in his name at Syndicate Bank, Electronic City branch, Bangalore. The other set of stamp paper with documents will be sent to the branch of Syndicate Bank nearest to your permanent residence and the co-applicant on receipt of information will have to visit the branch and sign all the documents including the stamp paper.ID Proof should be carried along by the Co-applicant.
     
  13. On completion of the above process, the Bank releases the Loan amount in the form of DD, in favor of University covering the tuition and accommodation fees for one year.
     
  14. In the Second year, on successful completion of the first year the university will raise a demand for payment of fees through a letter which is to be submitted by the student to the bank. The bank will then release the second installment after execution of relevant documents.
     
  15. The bank directly disburses the loan to the college/institute and the University will issue appropriate receipts and a photo copy of which needs to be provided to the bank.
     
Click here to download and print the Loan documents.

In case of any query in filling up the form please contact - Ms. Ashwini@ 080-66145136 at the Registrar’s Office.


 

LIST OF LOAN APPLICATION DOCUMENTS



1 Certified copy of marks list of all exams passed i.e SSLC (10th), PUC (12th), Graduate, Diploma & Post Graduation
2 Copy of the admission letter issued by the University – will be given by the University Admissions Team
3 Student’s PAN Card copy is compulsory and permanent address proof. If there is no PAN card, photocopy of application submitted for issue of PAN Card should be attached along with loan application. Student who do not have PAN card are requested to immediately apply for the same.
4 Rs. 1000/- For account opening
5 2 photographs of Student
6 PAN card copy of parents or guardians who are required to be co-applicants for the loan or any ID proof and address proof and 2 photographs of co-applicant.
7 Income certificate-Wherever the upper limit of gross parental / family income from all sources is 4.50 lakhs per year (or less), such student borrowers could be eligible for interest subsidy announced by MHRD, Government of Proof certificate from notified authorities in Annexure – A and the format of the Certificate in Annexure – B. Please note that interest subsidy is available only for the moratorium period i.e 2 years of course + 6 months to 1 year on completion of course whichever is earlier (income certificate – Annexure –B; Click on the link http://mhrd.gov.in/sites/upload_files/mhrd/files/IntSubsidyonELS.pdf to know more on interest subsidy scheme available under MoHRD
8 Completed and signed loan application form and account opening form issued by Syndicate Bank
9 Completed and signed account conversion form and asset & liability form by co-applicant issued by Syndicate Bank.


ANNEXURE - A

 

LIST OF INCOME CERTIFICATE ISSUING AUTHORITY as on Feb-2012



SL.NO. STATE AUTHORITY
1 A & N ISLANDS Tehsildar
2 ANDHRA PRADESH Tehsildar
3 BIHAR Circle Officer
4 CHANDIGARH Sub Divisional Magistrates
5 CHATTISGARH NayabTehsildar& Above.
6 DADRA & NAGAR HAVELI Mamlatdar
7 DAMAN & DIU Mamlatdar Daman and Mamlatdar Diu
8 DELHI Area SDM
9 GOA Mamlatdar of all Talukas
10 GUJRAT District Collector/Deputy Collector
Asst. Collector - Prant Officer/Mamlatdar
11 HARYANA CRO (Tehsildar/ NaibTehsildar concerned)
12 HIMACHAL PRADESH Tehsildar of Revenue Department
13 JAMMU & KASHMIR Sub Divisional Magistrate (Not below the rank of Tehsildar)
14 JHARKHAND Sub- Divisional Officer in each District
15 KARNATAKA Tehsildar
16 KERALA Village Officers
17 MADHYA PRADESH Tehsildar/ NayabTehsildar
18 MAHARASTRA Tehsildar
19 MEGHALAYA Employer in case of Gov. Employee and MP/MLA/DC/SDO Civil in case of Others.
20 MIZORAM District Magistrate/Officer authorised By DM
21 NAGALAND Dy. Commissioner, Addl Dy. Commissioner and Sub- Divisional officers ( C)
22 ORISSA Tahasildar/Additional Tehsildar
23 PONDICHERRY UT Tahasildar/Deputy Tahasildar
24 PUNJAB CRO (Tehsildar/ NaibTehsildar concerned)
25 RAJASTHAN Tahsildar
26 TAMIL NADU Zonal Deputy Tehsildar
27 UTTAR PRADESH Tehsildar
28 UTTARANCHAL Tehsildar/SDM/ City Magistrate
29 WEST BENGAL Dist Magistrate/Addl. Dis. Mag/Sub div Off/ Block dev off and The Collector for Kolkata City


The income certificate issuing authority is yet to be designated for Arunachal Pradesh, Assam, Lakshadweep, Manipur, Sikkim and Tripura.


ANNEXURE - B
 

Draft form of Income Certificate to be submitted by the Student is available here