SAAKSHAR SCHOLARSHIP Policy

SAAKSHAR is the signature programme of M3M Foundation, which addresses the core issue of inaccessible and unaffordable education among the underprivileged communities. The purpose of the SAAKSHAR Scholarship is to harness and nourish the capabilities that lie within the children experiencing financial barriers to education. The success of the scholarship is defined by creating an environment and providing the resources for the next generation to overcome the barriers and fulfill their dreams.

OBJECTIVE- To provide financial help to students from low-income families to continue and complete their education. The scholarship program is designed to help bridge the financial gap that often prevents students from pursuing their dreams of higher education.

SCHOLARSHIP CRITERIA- Many factors must be considered when establishing scholarship criteria for applicants, including financial need, achievement, geographic distribution and demographic characteristics. Below is the list of criteria selected by M3M Foundation which support the purpose of our scholarship intervention.

• Financial Hardship
• Academic achievement
• Community/extracurricular involvement.
• Personal or family attributes.

ELIGIBILITY  

1. To be eligible, an applicant must not be receiving an equivalent award or Scholarship from another institution or organisation.
2. Maintaining a full-time or part-time (if applicable) enrolment.
3. Enrolled in his or her current course of study. Any application for course transfer will require reassessment against the eligibility criteria and may lead to scholarship termination.
4. Maintaining minimum 85% of average score  , where academic merit is a condition of the selection criteria.
5. Passing more than 50% of his or her enrolled study load in and not failing the same unit two (2) or more times, where satisfactory progression is a condition; or

SCHOLARSHIP CATEGORIES: There are 2 main categories of Scholarship-

1. Scholarship for Students with Financial Hardship: This Scholarship provides financial aid to children of the families whose annual income is below 3 lakh. The Scholarship Amount for these recipients will be under the following condition:
   • Students studying in up till class 8 are provided with 100% tuition fees
   • Students studying in class 9 and above are provided with 75% of the tuition fees

2. Scholarship for Meritorious Students: This Scholarship provides financial aid to meritorious students facing financial hardship to opt for higher professional/ technical education. The students must score minimum 85% marks to get eligible for the scholarship.

SELECTION PROCESS  

The Scholarships are a competitive process. Selection is primarily based on the applicant’s academic record, and financial hardship. Further criteria are outlined in each Scholarship conditions. The Scholarships selection process must be transparent, ethical and follow the below process:  

Application

• Applicants apply for a Scholarship via the online system by the relevant closing date 
• Only applications with all documents and particulars provided will be considered.  

Screening 

• All screening of scholarships will be administered by the programmes team
• A basic assessment will be done to ensure the eligibility of the applicants
• Only those applicants who are eligible and/or are of the highest caliber will be referred for further consideration.

Shortlisting 

• All the submitted documents will be checked and verified by the programmes team. 
• If required the team will get in touch with the institute authorities to verify the details.
• The team will remove any applicant who does not meet the basic criteria.  

Selection

• The final list of applicants will be presented to the Management for approval
• Post approval, the selected candidates will be informed regarding the scholarship.

SCHOLARSHIP REVIEW AND RENEWAL PROCESS

Each scholarship will be reviewed each year by the Programmes Team. Each year all the continuing scholarship criteria will be re-evaluated so as to ensure the best possible likelihood of subsequent awarding, and will be rolled over to the following academic year and offered in addition to any scheduled new scholarships.

The Foundation reserves the right to ensure that a suitable pool of applicants exists for a scholarship, and to amend the eligibility criteria accordingly. Where this occurs, all reasonable care will be taken to ensure that the new criteria are in line with the original purpose of the scholarship.

TERMINATION OF SCHOLARSHIP

Before the scholarship duration is complete, a scholarship may only be terminated under the following circumstances:

• The recipient breaches any of the written conditions of award including not meeting ongoing eligibility criteria;
• Unsatisfactory academic performance for 2 consecutive terms
• An applicant takes more than two (2) terms of Intermission; or
• If the applicant has provided false or misleading information

List of Documents Required for filling the form:

1. Passport Size Photograph
2. Addhar Card
3. Current Admission Papers
4. Current Fee Structure
5. Annual Family Income Affidavit (only parents income required)
6. Marksheets of most recent examinations and marksheets of 10th, 12th, graduation, masters etc.( in a single pdf file)
7. Bank Details of Institution in the format specified in the document. Please download the format from here