KJ Somaiya Scholarships 2024: Details of all scholarship programs, eligibility and selection process

Vedika Dubey

The KJ Somaiya Scholarships 2024 exemplify educational empowerment that supports academic achievement and elevates the ambitions of worthy students. Under the program, there are 5 different scholarships offered to the students with a 100% fee waiver. KJ Somiya Institute of Management scholarship identifies deserving students' capabilities and assists them in achieving their dreams. 

The KJ Somaiya Scholarship intends to lower financial obstacles and offer a route to academic success while reflecting the institution's commitment to developing the next generation of leaders, thinkers, and social contributors. Given below are details of said scholarship programs run by the KJ Somaiya Institute of Management:

• Merit Based Scholarship
• Financial Aid

KJ Somiya Institute of Management Merit Based Scholarship

KJ Somiya Institute of Management is a constituent of Somaiya Vidyavihar University and, therefore, is the recipient of the Institutional Scholarship program run by the university. Under this program, the Institute offers 5 different scholarship programs that provide 100% fee waivers to the selected students. 

Financial aid is currently available from the Institute to students who have been accepted into the Institute after the stringent admission process despite their economically disadvantaged backgrounds. KJ Somiya Institute of Management also extends the scholarship program to applicants who have proven their ability by accomplishments in athletics, the arts, community service, or any other area in addition to their academic success.

Merit Based Scholarship Eligibility

Students applying for any of the 5 scholarships must fulfil the following eligibility criteria:

• Applicants must be Indian citizens.
• Applicants must be younger than 30 years of age.
• They must have scored 80% or higher in 10th and 12th and 70% in undergraduate studies.
• Must have secured achievements at state, national, and international levels in Sports, Arts, Community service, or other fields.
• Must have scored more than 90 percentile in CAT or XAT, or have scored more than 700 in GMAT or more than 250 in NMAT. 

KJ Somaiya Institute of Management Financial Aid

Somaiya Vidyavihar University offers financial aid to qualifying students of all the institutes under SVU. Though admission to all the courses is based on academic merit, curricular activities, etc, financial assistance is offered to the students at the time of admission based on the financial background of the applicant and their requirements. 

SVU started the financial aid program in the 2021-22 academic year and so far has benefitted more than 125 students by the disbursement of over INR 4 Crore.

Financial Aid Eligibility

KJSIM offers financial aid to applicants for admission to all of its undergraduate and graduate programs. To qualify for financial assistance, candidates must meet any one of the following requirements:

• Annual Family income less INR 800,000.
• Individuals who are disabled (PwD) or are dependents of defence service members who were killed or disabled while performing their duties.
• Candidates who have competed for their state, nation, or both in a sanctioned sport. (Only applicants pursuing a B.Sc. in Sports and Exercise Science).

Financial Aid Selection Process

The selection process for the financial aid benefits is in 3 steps:

• Step 1 - Submission: Applicants must register on the admission portal and submit the documents required for eligibility for financial aid along with the application form. 

• Step 2 - Screening: The Institute will screen all the applications for eligibility and authenticity.

• Step 3 - Evaluation: Selected students are called for an interview. During this, verification of all the submitted documents is also done. 

Documents required for Financial Aid

Given below is the list of documents required to avail the financial aid from KJ Somaiya Institute of Management:

• SOP (Statement of Purpose) on why you deserve the Financial Aid.
• Ration Card
• EWS Certificate ( issued by a competent authority)
• Income certifications (issued by a competent authority)
• IT Return of earning members of the family
• Aadhar Card Photocopy or PAN card Photocopy
• Photocopy of the rental contract (if applicable)
• Photocopy of death certificate (if applicable)
• Bank statement of last three months of all earning members of the family
• Employer certificate of the earning member
• Financial Aid Self-declaration
• Last three months' electricity bill

Financial Aid Provided

Upon verification of documents and selection of applicants for financial assistance, the following aids are awarded:

• The chosen applicants will receive financial aid towards their tuition costs; the amount of the assistance will range from 20% to 80%, depending on the evaluation procedure.
• The financial aid that is granted will be used for the whole course of the project.
• Students who can prove their need can take advantage of the management's discounted housing and board options.
• The Financial Aid Selection Committee's decision is final and cannot be contested in any way.