Full Fee Waiver For IIT Students With Income Less Than Rs 1 Lakh; Two-Third Waived For Those With Less Than Rs 5 Lakh

Indian Institute of Technology (IIT) students whose parental income is less than Rs one lakh per annum, along with Scheduled Caste (SC), Scheduled Tribe (ST), Physically Handicapped (PH) students will get complete fee waiver, informed Minister of State Satya Pal Singh in a written reply to a Rajya Sabha question, reports India Today.

In case the student’s family annual income lies between Rs one lakh and 5 lakh, they can get a remission of two-third of the fee. Earlier in 2016-2017, the tuition fee of socially and economically backward students of IITs were waived off.

Beside this, a number of other schemes were listed that can be availed by the economically backward section.

Under Central Sector Scheme of Scholarship for College and University Students, students with family income less than Rs 8 lakh per year will be provided Rs 10, 000 per year for first three years and Rs 20, 000 per annum for the next two.

Under Special Scholarship Scheme for Jammu & Kashmir, students from the state whose family income is less than Rs 8 lakh per annum can get Rs. 1.30 lakh to Rs. 4.00 lakh per annum.

Under Central Sector Interest Subsidy Scheme, students with parental annual income up to Rs 4.5 lakh can avail full interest subsidy on an educational loan up to Rs 7.5 lakh.

Apart from these, for SC, ST, Other Backward Class (non-creamy layer) and minority community students, remedial coaching, coaching for NET/SET and for entry into services.

The statement also mentioned that the payment for the above schemes are processed online through Public Financial Management System, and scholarship and interest subsidy is released through direct benefit transfer mode.