Can I get financial aid at IIM Bangalore?

<p>Yes, IIMB extends financial aid to students in need of assistance. The objective of the <strong>Financial Aid Policy at IIMB</strong> is to ensure that no student is deprived of education at the institute for financial reasons. All PGP students with annual family incomes below INR 8 LPA are eligible to apply for financial aid. Other students with severe financial difficulties arising from sudden unforeseen circumstances are also considered. The Financial Aid Committee undertakes <strong>a two-step process</strong> for deciding the number of awardees and the quantum of aid. In the first stage, the students are given <strong>a financial status score</strong> based on four criteria: Annual Gross Household Income (including income of the student if employed before joining IIMB and outstanding loans if any, provided they were not taken for conspicuous consumption), household savings, real estate assets, and other assets. Based on this score, some of the students were called for <strong>personal interaction with a faculty panel</strong>. Based on the weighted average of these two scores, applicants are provided with 100%, 80%, 60%, 40%, or 20% financial aid.</p>

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