The prestigious IIMs and other top B-schools in India are renowned for their top-notch management programs. However, these programs can be financially demanding. To address this, the leading management institutes in the country provide a variety of financial assistance options for students from economically challenged backgrounds. Meritorious students with limited annual family incomes receive financial aid to enable them to pursue their studies at these B-schools.
Additionally, these institutes actively facilitate various scholarship schemes offered by central and state governments, including CSS scholarships for SC/ST students, targeting deserving candidates who meet specific eligibility criteria. IIM Sambalpur is one such institution that extends financial assistance to MBA students from economically disadvantaged backgrounds.
IIM Sambalpur is firmly committed to ensuring that no student is denied education opportunities due to financial difficulties. Therefore, it provides need-based financial assistance to students with limited financial means to cover the expenses associated with the two-year MBA Program.
The financial eligibility requirement for this need-based financial assistance is an annual family income below INR 4.5 lakhs. Eligible students are presented with the choice to benefit from either the financial aid provided by IIM Sambalpur or scholarships offered by various Ministries of the Government of India.
IIM Sambalpur scholarships or financial assistance are given in the form of fee waivers in the MBA Program fees and the reimbursement amount is determined based on the evaluation of financial requirements of eligible applicants. The selection of students for scholarships is determined by several factors, such as gross annual family income, creditworthiness, and student loan availability.
Information regarding scholarships and other financial aid programs will be provided to students after the IIM Sambalpur admission process is completed. The institute admits a total of 300 students to its two-year MBA Program, and the total program fee is INR 17.86 lakhs.
IIM Sambalpur scholarships are a valuable opportunity for students who excel academically but have limited financial resources. Apart from IIM Sambalpur scholarships, the institute assists students in obtaining educational loans from banks during admissions. Several banks in the country offer funding to cover most of the tuition and MBA Program fees at IIMs. However, students should verify interest rates and other loan conditions directly with the banks to ensure accuracy.
We’ll discuss the categories of IIM Sambalpur scholarships and details in this form fees article;
The institute offers various scholarship schemes for meritorious and needy students. One such scheme is Need-Based Financial Assistance (NBFA). Candidates eligible for NBFA programs are offered a scholarship amount based on their academic performance, annual family income, and other relevant factors. Other IIM Sambalpur Scholarships are listed below:
- Need-Based Financial Assistance (NBFA)
- Scholarship for Top Class Education of Students with Disabilities
- Top Class Education Scholarship Scheme for SC Students
- National Fellowship & Scholarship for Higher Education of ST Students
- PRERANA- Post-Matric Scholarship for SC
- Prof. Ghanshyam Dash Scholarship for Higher Education
- Vyasakabi Fakir Mohan Senapati Scholarship
Have a detailed look at each of the above-mentioned scholarships offered at IIM Sambalpur.
Need-Based Financial Assistance (NBFA)
The Need-Based Financial Assistance (NBFA) scheme is one of the most important financial assistance under IIM Sambalpur Scholarships provided by the institute itself. The scholarships provide financial support to meritorious MBA students based on their academic performance and annual family income range. The amount of need-based scholarships is provided in the form of the tuition fee waiver. The details of the Need-Based Financial Assistance available at IIM Sambalpur are as mentioned below;
- Annual family income up to INR 1.50 lakh - 100% tuition fee waiver
- Annual family income between INR 1.50 lakh - INR 3 lakh: 75% tuition fee waiver
- Annual family income between INR 3 lakh to INR 4.5 lakh - 50% tuition fee waiver
Scholarship for Top-Class Education of Students with Disabilities
Central sector scheme of scholarship for top-class education of students with disabilities is offered to those pursuing UG/PG/Diploma programs at recognized universities. The scholarship is initiated by the Department of Empowerment of Persons with Disabilities, Government of India.
Students with more than 40% disability and a valid certificate for the same can apply and the gross annual family income must be less than INR 6 lakhs to be eligible for the scholarship. A total of 300 scholarship seats are available under this scholarship scheme.
Amount of Reimbursement in Scholarship for Top-Class Education of Students with Disabilities:
| Particulars | Scholarship Amount |
|---|---|
| Reimbursement of tuition fees and non-refundable charges | Up to INR 2 lakh per year |
| Reimbursement of expenses includes the purchase of aids, assistive devices, and necessary software related to the specific disability | INR 30,000 as a one-time grant for the entire program. |
| Reimbursement of expenses covers computer and accessory purchases | INR 30,000 as a one-time grant for the entire program. |
| Books and Stationery | INR 5,000 per year |
| Maintenance Allowance | INR 3,000 per month for hostellers and INR 1,500 per month for day scholars |
| Special Allowances | INR 2,000 per month |
Top-Class Education Scheme for SC Students
The Central Sector Scholarship for Top-Class Education is offered to meritorious SC students to support them in pursuing degree programs. It is provided based on their annual family income for the previous financial year.
- The scholarship is initiated by the Ministry of Social Justice and Empowerment.
- Scheduled Castes (SC) category students with an annual family income of up to INR 8 lakh can apply for this scholarship.
- Eligible students should apply through the National Scholarship Portal (NSP) when the application process begins.
- The scholarship scheme offers reimbursement that covers expenses such as tuition fees, nonrefundable charges, lodging and boarding charges, books and stationery costs, and the cost of IT equipment for the first year.
The Amount offered under the Top-Class Education Scheme for SC Students:
| Qualification Level | Scholarship Amount |
|---|---|
| Graduation level | INR 12,000 per year |
| Post Graduation level | INR 20,000 per year |
| Integrated courses | INR 12,000 per year (for the first 3 years)INR 20,000 per year (in 4th and 5th years) |
National Fellowship & Scholarship for Higher Education of ST Students
- These scholarships are available to students who belong to the ST category and want to pursue higher degree courses like M.Phil., and Ph.D.
- To be eligible for the National Fellowship and Scholarship for Higher Education of Scheduled Tribe Students (Central Sector Scheme), students must have passed their Master's Degree examination.
- Students will be selected based on merit. Eligible students can apply for the scholarships through the official website, https://fellowship.tribal.gov.in.
- There are a total of 750 seats available for the National Fellowship and Scholarship programs. There is no institute-wise/state-wise/stream-wise number of slots.
- If the number of applicants exceeds the number of available seats for the fellowship program, post-graduation marks will be considered for the final selection.
- If the number of students from the ST Category is lesser than the available seats, the scholarship seats not availed by students during that year will be carried forward to the next academic year.
National Fellowship & Scholarship for Higher Education of ST Students: Eligibility and Duration of the Scholarship;
| Course | Eligibility | Duration |
|---|---|---|
| M.Phil. | Qualification: Minimum 55% marks at the final examination at the post-graduate level from a recognized university. Income Criteria: There are no income criteria for the eligible students under the National Fellowship and Scholarship. Age Limit: The maximum age limit for eligibility is 36 years, as of the first day of July in the year when the scholarship is awarded. | 2 years or the date of submission of the dissertation, whichever is earlier. |
| Ph.D. | 5 years or the date of submission of the dissertation, whichever is earlier. | |
| M.Phil. + Ph.D. | A total of 5 years or the date of submission of the dissertation, whichever is earlier. |
The National Fellowship and Scholarship is offered as reimbursement of the program fee and other costs incurred. The reimbursement amount allowed for each course and the stream is given below;
Reimbursement Amount in National Fellowship & Scholarship:
| Course | Stream | Contingency Annually | Scholarship |
|---|---|---|---|
| M.Phil. | Humanities and Social Sciences | INR 10,000 | INR 31,000 |
| Science / Engineering Technology | INR 12,000 | ||
| Ph. D | Humanities and Social Sciences | INR 20,500 | INR 31000 for the first two years and INR 35000 for the remaining 3 years |
| Science / Engineering Technology | INR 25,000 | ||
| HRA for all the courses (monthly): Equal to UGC rates (8%/16%/24% based on the city) | |||
| Escort Allowance for Divyangjan (monthly): INR 2000 (at par with UGC rates) | |||
What are the Documents required during the Scholarship Application Process?
The important documents needed during the application are given below:
- Latest passport-size photograph.
- ST/PVTG certificate.
- 10th or equivalent certificate (in support of date of birth).
- Divyangjan certificate.
- Post-graduation mark sheet.
- Admission/Joining certificate of M.Phil./Ph.D. / Integrated M.Phil.+ Ph.D. from the University.
- Admission offers for students accepted into IITs, AIIMS, IIMs, and IISERs.
Other IIM Sambalpur Scholarships
| Scholarship Name | Eligibility Criteria |
|---|---|
| PRERANA- Post-Matric Scholarship for SC | Annual Income less than INR 2.50 lakh |
| Prof. Ghanshyam Dash Scholarship for Higher Education | Annual Income less than INR 2 lakh |
| Vyasakabi Fakir Mohan Senapati Scholarship | A resident of Odisha stateScored at least 80% in Bachelor’s |
IIM Sambalpur Fellowship Stipend
IIM Sambalpur provides fellowship grants for Ph.D. students that cover all academic expenses including tuition, computer, library, medical insurance, placement, and alumni fees. Details of allowances offered to Ph.D. students as IIM Sambalpur Fellowship Stipend are given below:
- A monthly subsistence allowance of INR 35,000 in the first and second year.
- INR 40,000 after submitting the TAC-approved thesis proposal will be provided for 4 years.
- A maximum of two 6-month extensions may be allowed, subject to the recommendation of the Doctoral Committee and Competent Authority at the institute.
- Since IIM Sambalpur Ph.D. is a full-time residential program, bachelor accommodation will be provided to all the students in the institute hostel. A fixed number of houses for married students will be made available on the permanent campus.
How to Apply for IIM Sambalpur Scholarships?
To apply for scholarships at IIM Sambalpur and to understand the detailed application process, you should visit the official website of IIM Sambalpur and the National Scholarship Portal (NSP) for the most up-to-date information.
The application procedures and document requirements of the scholarships may change over time, so it's necessary to refer to the latest guidelines provided by the institute. However, for your reference, here is some general information about the IIM Sambalpur Scholarships Application Process:
Step 1: Visit the official website of IIM Sambalpur for the scholarships offered by the institute and the NSP portal for Government of India scholarships and check the availability of scholarships.
Step 2: Eligibility Criteria: Make sure that you meet the eligibility criteria for the scholarships you are interested in. Different scholarships may have different eligibility requirements based on factors like academic performance, annual family income, and category (e.g., General, SC/ST, OBC, EWS).
Step 3: Application Submission: Apply for suitable financial assistance and complete the scholarship application form with proper documentation and required personal details.
Step 4: Document Submission: Make sure that you have all the necessary documents as specified in the scholarship application guidelines. While specific requirements may vary, common documents often include
- Scanned copies of passport-sized photographs (recent)
- Scanned copies of 10th, 12th, Bachelor’s, and Master’s mark sheets
- Proof of income (e.g., income certificate, tax returns)
- Caste or community certificate
- Photo ID proof (e.g., Aadhar card, passport)
Step 5: Review and Selection: After reviewing all the applications, students will be selected for the scholarships based on the specified eligibility criteria. Some scholarships may require interviews.
IIM Sambalpur Fees, Courses, and Eligibility Criteria
IIM Sambalpur 2024 MBA fee is around INR 17.86 Lakhs for 2 years. In 2023, the fee was INR 17.7 Lakhs and in 2022, it was INR 13.08 Lakhs. IIM Sambalpur Fees include tuition fees, hostel charges, student activity fees, placement facilitation charges, mess fees, alumni fees, and the refundable caution deposit.
The tuition fee is around INR 12 lakhs for the entire MBA program. The hostel and the mess charges are included in the total fee, which is around INR 3.50 lakhs for the hostel and around INR 1.26 lakhs for the mess. The students will also have to pay a refundable caution deposit of INR 20K.
| IIM Sambalpur Courses | IIM Sambalpur Course Fee | Course Eligibility |
|---|---|---|
| MBA/PGP | INR 17.86 lakhs | Bachelor’s degree with 60% + CAT |
| Executive MBA | INR 12 lakhs | Bachelor’s degree with 50% + Minimum 3 years of Managerial/Entrepreneurial/ Professional experience. |
| MBA-Working Professionals | INR 14 lakhs | Bachelor’s degree with 50% + Minimum 3 years of full-time Managerial/ Professional work experience. |
| Ph.D. | NIL | Master’s Degree or PG Diploma from IITs/IIMs/Other Universities, with at least 60% marks or equivalent CGPA in the bachelor’s as well as in the master’s degree. OR Professional qualification like CA, ICWA, or CS with a Bachelor’s Degree, with at least 60% aggregate marks or equivalent CGPA in the Bachelor’s Degree.ORA 4-year Bachelor’s degree in Engineering with at least 6.5 CGPA or equivalent aggregate percent marks.OR5-year Integrated Master’s degree in any discipline, with at least 60% aggregate marks, obtained after completing 10+2 or equivalent. |
| Executive Ph.D. | INR 5.5 lakhs | Master’s Degree or PG Diploma in any discipline or Integrated Degree from IITs/IIMs/Other Institutions/ Universities from NIRF Top 50 Ranking, with at least 55% aggregate marks or equivalent CGPA in the Bachelor’s as well as 60% marks or equivalent CGPA in the Master’s Degree.ORA professional qualification like CA, ICWA, or CS with a Bachelor’s Degree, with at least 55% aggregate marks or equivalent CGPA.ORA 4-year Bachelor’s degree in Engineering with at least 6.5 CGPA. |
IIM Sambalpur MBA Fee breakup is as follows:
| Year | MBA-1st Year | MBA-2nd Year | ||||
| Installments | 1 | 2 | 3 | 1 | 2 | 3 |
| Tuition Fee | INR 2,00,000 | INR 2,00,000 | INR 2,00,000 | INR 2,00,000 | INR 2,00,000 | INR 2,00,000 |
| Hostel Fee | INR 60,000 | INR 60,000 | INR 55,000 | INR 60,000 | INR 60,000 | INR 55,000 |
| Mess Deposit | INR 21,000 | INR 21,000 | INR 21,000 | INR 21,000 | INR 21,000 | INR 21,000 |
| Student Activity | INR 25,000 | INR 25,000 | ||||
| Placement Facilitation Charges | INR 25,000 | INR 25,000 | ||||
| Alumni Fees | INR 5,000 | |||||
| Refundable Caution Deposit | INR 20,000 | |||||
| Total | INR 3,51,000 | INR 2,81,000 | INR 2,76,000 | INR 3,31,000 | INR 2,81,000 | INR 2,81,000 |
| IIM Sambalpur MBA Fees | INR 9,08,000 | INR 8,93,000 | ||||
IIM Sambalpur hostel fees and the mess fees are included in the total fees;
| Particulars | 1st Year | 2nd Year | Total |
|---|---|---|---|
| Hostel Fees | INR 1.75 lakhs | INR 1.75 lakhs | INR 3.50 lakhs |
| Mess Charges | INR 63K | INR 63K | INR 1.26 lakhs |
IIM Sambalpur hostel charges have increased in 2023. The year-wise fees of IIM Sambalpur hostel fees and mess charges are given below:
| Particulars | 2021-23 | 2022-24 | 2023-25 |
|---|---|---|---|
| Hostel Fees | INR 1.30 lakhs | INR 1.30 lakhs | INR 3.50 lakhs |
| Mess Charges | INR 1.08 lakhs | INR 1.13 lakhs | INR 1.26 lakhs |
Frequently Asked Questions about IIM Sambalpur Scholarships
Q. What are the IIM Sambalpur scholarships available to MBA students?
Ans. IIM Sambalpur offers Need-Based Financial Assistance to MBA students. Apart from that, several Government of India scholarships are available to SC/ST students and students with disabilities.
Q. What are the Government of India scholarships available at IIM Sambalpur?
Ans. Scholarship for Top Class Education of Students with Disabilities, Top Class Education scheme for SC students, National Fellowship and Scholarship for Higher Education of ST students, etc. are some of the known GOI scholarship programs available at IIM Sambalpur.
Q. Are there any scholarships available for financially needy students at IIM Sambalpur?
Ans. Yes, there are Need-Based Financial Assistance schemes for deserving students based on their academic performance, family income, and financial requirements.
Q. How can we apply for Government scholarships at IIM Sambalpur?
Ans. Eligible students can apply for Government of India scholarships through the official National Scholarship Portal (NSP).
Q. Is it necessary to avail of IIM Sambalpur scholarships?
Ans. No, it is not necessary to avail of scholarships at IIM Sambalpur. The scholarship schemes are meant for meritorious students with low annual family incomes to pursue degree programs.
Q. What other types of financial assistance can students avail of apart from scholarships at IIM Sambalpur?
Ans. IIM Sambalpur also allows MBA students to avail of educational loans from banks to pursue advanced management programs at the institute. However, students must check interest rates, asset value, and other loan conditions from their respective banks before availing of any student loan.
Q. Can I get a 100% scholarship for IIM Sambalpur?
Ans. The only criteria for availing of Need-Based financial assistance at IIM Sambalpur are that the students must have performed well in the first two terms and the annual family income must be less than INR 4.5 lakhs. However, 100% scholarships will only be given on the MBA tuition fees and not on other expenses.
Q. What is the total MBA fee at IIM Sambalpur?
Ans. The total IIM Sambalpur MBA fee is INR 17.86 lakhs for the academic year 2024-26.
Q. What is the MBA tuition fee at IIM Sambalpur?
Ans. INR 12 lakhs which includes tuition fees, virtual library access, and campus immersion.
Q. Did the IIM Sambalpur MBA fee increase?
Ans. Yes, the IIM Sambalpur MBA fee increased for the 2023 academic year. Previously, the institute charged around INR 17.76 lakhs for its two-year MBA, and in 2023, it increased to INR 17.86 lakhs.
Q. What are the costs included in the IIM Sambalpur MBA fees?
Ans. IIM Sambalpur MBA fees include costs like tuition fees, hostel fees, student activity fees, placement facilitation charges, mess fees, alumni fees, and the refundable caution deposit.
Q. What is the executive MBA fee at IIM Sambalpur?
Ans. The two-year Executive MBA at IIM Sambalpur charges INR 12 lakhs for the entire program.
Q. What are the hostel fees at IIM Sambalpur? Is it compulsory for MBA students to stay at the campus hostel?
Ans. Yes, the IIM Sambalpur MBA students must stay at the hostel. The hostel fees are around INR 3.50 lakhs for 2 years.
Q. Is the caution deposit required to be paid at IIM Sambalpur refundable?
Ans. Yes, the IIM Sambalpur caution deposit is refundable and will be refunded after the course is completed. The caution deposit for the MBA program at IIM Sambalpur is INR 20K.
Q. How much is the mess deposit at IIM Sambalpur?
Ans. The mess charges at IIM Sambalpur are around INR 1.26 lakhs for 2 years which is included in the total fees.
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