Scholarships and Financial Aid at IIM Shillong

Need Based Financial Assistance

The Need Based Financial Assistance (NBFA) scheme of IIM Shillong supports admitted students who demonstrate financial need. The institute decides eligibility and the amount of assistance as per its policy, and students must submit income and family documents when they apply.

Government scholarships

• Top Class Scholarship Scheme for SC students of the Ministry of Social Justice and Empowerment
• National Fellowship and Scholarship for Higher Education of ST students, for which the institute has published guidelines
• Scholarships for SC, ST and PwD participants available through scholarships.gov.in

The quantum, eligibility and process of these schemes are set by the respective ministries and can change every year, so students should read the guidelines on the National Scholarship Portal.

Education loans

The PM-Vidyalaxmi Scheme offers collateral-free and guarantor-free education loans to students admitted to higher education institutions, and the institute lists the portal on its Finances page. Students can apply to several banks through the portal. Because the fee is paid in terms, with the first term's payment due soon after admission, borrowers should arrange loans early and keep documents ready.

Students should plan for the whole cost. The official sheet lists Rs. 13.19 lakh for the first year including the acceptance fee and Rs. 12.99 lakh for the second year, and these amounts include the mess advance and the refundable caution deposit. Looking at the median CTC of Rs. 26.00 LPA for the 2024-26 batch can help students judge how quickly a loan may be repaid.

Compare aid with the fee structure and see eligibility on the admission page.