A scholarship is free money given to a student to pay for a course he or she applied for at the college. Some students win these scholarships solely on their academic performances; others are awarded based on their financial needs.
In either case, the scholarship has certain requirements which the students have to meet. Before applying for scholarships, ensure you meet the eligibility criteria for the same.
Let’s look at 3 major types of scholarships:
No Eligibility Applied Scholarships
There are many scholarships which do not really have an eligibility criterion. All that is required is the name and your contact details, similar to sweepstakes. Many students or people are likely to apply for these scholarships given the short process. Also, as there is no mandatory eligibility criteria, more students are free to apply.
Academic Eligibility Applied Scholarships
With such scholarships that have academic eligibility criteria, the CGPA and the test scores are the main factors that decide your qualification for the scholarship. When students apply for academic scholarships, claiming stellar academic achievements is not all. You are required to present the evidence of the same to the officer in-charge. While some of these scholarships welcome students from highly stellar academic backgrounds, others admit students with a lesser academic score too. It is a long process. These scholarships first require the student to have a maximum certain percentage in their graduation course and secondly, might present them with a scholarship test. Following these two requirements, the student’s application for the scholarship is considered successful.
Financial Eligibility Applied Scholarships
As scholarships are free money paid for the academic programs of the student and they don't have to be reimbursed, many students with financial requirements apply for scholarships. Claiming a financial requirement is not enough, you need to provide evidence for the same. These kinds of financial scholarships help students bridge the gap between their dreams and the achievement of those dreams.
Extracurricular Achievements Eligibility Applied Scholarships
Students are awarded these scholarships for their participation in certain organizations. Extracurricular activities range from athletic teams to academic institutions to school clubs. Although you will need evidence like a membership card or an identity card, these scholarships usually take a bit more time to apply as compared to the other scholarships, given the number of formalities to be completed.
ITM Business School Scholarships
ITM Business School offers MBA/PGDM scholarships to its students. This scholarship program is known as the iFirst scholarship program. iFirst scholarship allows students to fund their own postgraduate education and chase after their dreams by themselves.
The process for the iFirst Scholarship is as follows:
- Apply for the PGDM course
- Take the scholarship test
- Go through admission process and secure your admission
- One week later, the list of meritorious students eligible for scholarship will be announced.
What do you stand to gain from the scholarship, if you win it?
Depending on the rank you achieve, you stand to claim a certain percentage of tuition fee waiver.
1st Rank: 100% tuition fees waiver
2nd Rank: 50% tuition fees waiver
3rd Rank: 25% tuition fees waiver
4th Rank: 10% tuition fees waiver
Professional courses can be expensive and many students may find it difficult to afford them. However, academic scholarships can help students overcome their financial worries.