IIM Lucknow Scholarships

More than two lakh candidates appear for the CAT exam every year, filled with confidence about pursuing an MBA from a top B-school in India. Securing a Master of Business Administration degree can be a substantial benefit for emerging entrepreneurs and managers. The MBA degree also helps those seeking career transformation and enhanced personal branding. Among the lakhs of candidates who appear for the CAT exam, only a few succeed in securing a seat in India’s top IIMs. India’s IIMs nurture individuals with management knowledge, ethics, and adequate skills to excel in the global business community. The top 5 IIMs in India are IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, and IIM Kozhikode. However, the significant expenses associated with the studies can be a nightmare for individuals dreaming of joining these IIMs. Recognizing the financial needs of the students, IIMs offer scholarships and other financial assistance. IIM Lucknow scholarships play an important role in fulfilling the dreams of individuals who enter the campus with high aspirations. Securing the best scholarships and other financial aid can be a crucial advantage for meritorious students, provided they meet the eligibility requirements. IIM Lucknow scholarships and financial assistance make it easier for deserving candidates to pursue their careers in business management without any financial burden constraining their dream journey. 

The institute, in collaboration with various industries and dedicated alumni bodies, has established multiple scholarship schemes and fellowship grants. These initiatives provide invaluable financial support to students enrolled in both the Master of Business Administration (MBA) and Fellowship Programs. The scholarships and grants offered by IIM Lucknow, as well as corporate and alumni bodies stand as a demonstration of the institute’s commitment to academic excellence. By empowering students from diverse backgrounds, these financial assistances enable them to pursue their academic and professional ambitions unburdened by financial limitations. From need-based scholarships benefitting financially disadvantaged meritorious students to allowances and grants to support fellowship programs, IIM Lucknow leaves no stone unturned in realizing its mission of nurturing future leaders of the business world. 

The main category scholarship offered through IIM Lucknow Scholarships is the Need-Based Scholarship. Let's explore the various scholarships offered by IIM Lucknow in this article.

Categories of IIM Lucknow Scholarships

• Need-Based Scholarship
• Fellowship Program Grants
• Industry-Sponsored Scholarships
• Scholarships offered by central, and state governments and other bodies for higher studies

IIM Lucknow Need-Based Scholarships

IIM Lucknow Need-Based Scholarships are distributed among students based on their family income. As per the institute policy, any student irrespective of gender, caste, or religion can be benefitted from this scholarship by fulfilling the eligibility criteria and the details regarding eligibility criteria should only be announced post-admissions. 

• IIM Lucknow Need-Based Scholarships are solely provided by the institute based on annual family income and previous academic performance.
• Students with gross family income (self, parents, and spouse) of less than Rs. 4,00,000 are eligible to apply for IIM Lucknow Need-Based Scholarships.
• The detailed eligibility criteria and other details will be announced after IIM Lucknow admissions.  
• The institute prefers to disburse the scholarship as a fee waiver for deserving candidates with strong academic records. 
• Based on merit and family income, eligible candidates are offered a one-year scholarship under Need-Based scholarships.
• The scholarships are provided only after successful verification of family income, taking into factors such as the candidate’s past earnings, whether they have availed of any student loan, and the amount of the loan, etc.

Fellowship Program Grants

Fellowship Program Grants are additional financial assistance given at IIM Lucknow.

Fellowship Grants

• All the Indian resident scholars admitted to fellowship programs at IIM Lucknow are eligible for Fellowship Grants.
• The fellowship allowance is given up to four and a half years.
• A fellowship stipend of Rs. 35,000 per month is provided during the first and second years and continues until the scholar successfully clears the Comprehensive Exam at the end of the second year.
• Upon successfully clearing the Comprehensive Examination, a stipend of Rs. 40,000 per month will be provided from the third year onwards.

Contingency Grant

• All the Indian resident scholars admitted to fellowship programs at IIM Lucknow are eligible for the Contingency Grant.
• The contingency allowance is given up to four and a half years.
• The grant can be used by the scholar to purchase books, stationery, computer hardware/software, etc.
• For the first two years, an amount of Rs. 10,000 per annum is given, and for the next two years, an amount of Rs. 15,000 per annum is provided.
• An amount of Rs. 50,000 can be availed by the scholar as a one-time computer purchase grant before the end of coursework. 

Conference Support

• An amount of Rs. 1,40,000 is given as a combined travel grant/ conference registration grant.
• The conference support grant is provided after the successful submission of the thesis proposal to attend one international conference.
• It can also be availed to attend a maximum of one domestic conference during the third and fourth years, along with an additional travel grant of Rs. 10,000.
• The grant is also offered to the scholar for attending a domestic Doctoral Consortium or the annual inter-IIM Doctoral Consortium organized by IIMs/IISc/IGIDR. 

Miscellaneous Financial Support

• During the third and fourth years, the annual membership fee for only one national and one international professional society is given.
• A maximum of Rs. 50,000 is given for travel/boarding/lodging and local conveyance expenses incurred during case writing and field-based research in the third and fourth years.
• Additional facilities provided by IIM Lucknow include the reimbursement of family health insurance premiums for FPM scholars whose families are residing on campus. 

Industry-Sponsored Scholarships

Industry-sponsored scholarships are an integral part of IIM Lucknow scholarships offered by several industries and alumni bodies ranging from Rs. 6,000 to Rs. 1,00,000 per annum.

• Based on academic performance and annual family income, the institute shortlists students from each year/batch.
• Meritorious students with low annual family incomes are eligible to apply for scholarships sponsored by renowned industries or corporations.  
• Several alumni and corporate bodies sponsor another set of IIM Lucknow scholarships based on specific terms and conditions.

IIM Lucknow Scholarships – Other Scholarships

Apart from the Need-Based Scholarships and Industry-Sponsored Scholarships offered by industries and alumni bodies, other scholarships can be availed by the students of IIM Lucknow offered by the central government and state government. Based on academic records and annual family income meritorious students are offered official scholarships by the central/state governments. Helping students to progress in their careers, IIM Lucknow accepts and facilitates the process of these scholarships.

• Merit-cum-Means Scholarships: Selected students are provided an amount of Rs. 2200 per annum following specific terms and conditions. 
• Bharti Scholarship: Students with an annual family income of up to Rs. 1,00,000 receive an amount of Rs. 50,000 per annum. Only first-year and second-year students are eligible to apply for this scholarship.
• SC/ST Scholarships: All SC/ST students are eligible for this scholarship, receiving an amount of Rs. 1500 per annum.
• Other scholarships: There are other scholarships offered by the government of the state to which the candidate belongs. 

IIM Lucknow Scholarships: Application Process 

Follow the below steps to apply for the scholarships at IIM Lucknow;

Step 1: Visit the official website of IIM Lucknow or the official scholarship portals of central/state governments. 

Step 2: Search for the scholarship/financial assistance that aligns with your eligibility.

Step 3: The documentation part is crucial because any errors in the provided documents can lead to the rejection of your application. Therefore, candidates are advised to ensure they have the required documents ready before applying for any scholarship. The required documents include; 

• Scanned copy of the passport-sized photograph.
• Scanned copies of 10^th, 12^th, and graduation marksheets.
• Identity proof.
• Income certificate or any other proof of family’s income as mentioned.

Step 3: Submit the scholarship application form.

Frequently Asked Questions about IIM Lucknow Scholarships 

Q. What are the need-based scholarships offered at IIM Lucknow?

Ans. Special need-based scholarships are offered by IIM Lucknow to assist students with strong academic records who face financial limitations in pursuing courses at the institute. These need-based scholarships are awarded based on the student’s annual family income and academic performance. 

Q. What are the other categories of financial assistance provided by IIM Lucknow?

Ans. IIM Lucknow offers scholarships in these categories;

• Need-Based Scholarship
• Fellowship Program Grants
• Industry-Sponsored Scholarships (scholarships offered by various corporate and alumni bodies)
• Scholarships offered by central, state governments and other bodies for higher studies

Q. What Important documents are required while applying for IIM Lucknow scholarships?

Ans. The important documents during the application process for IIM Lucknow scholarships are;

• Scanned copy of the passport-sized photograph.
• Scanned copies of 10^th, 12^th, and graduation marksheets.
• Identity proof.
• Income certificate or any other proof of family’s income as mentioned.

Q. IIM Lucknow scholarships are awarded based on what criteria?

Ans. Most of the scholarships are offered based on academic records and annual family income. Meritorious students with low annual family incomes are eligible to apply for the scholarships offered at IIM Lucknow.  

Q. IIM Lucknow scholarships are provided in which form?

Ans. IIM Lucknow prefers to disburse the scholarships as a fee waiver for deserving candidates with good academic records. 

Q. Can I apply for multiple scholarships at IIM Lucknow?

Ans. No. A student is not eligible to apply for multiple scholarships.

Q. What is the deadline for scholarship applications at IIM Lucknow?

Ans. The deadline for scholarship applications will be announced on the official website. Candidates are advised to visit the website regularly for any updated information.