What is NIFT Means cum Merit Financial Assistance Scheme?

What-is-NIFT-Means-cum-Merit-Financial-Assistance-Scheme

The National Institute of Fashion Technology (NIFT), arguably the best fashion college in India, has its own Means cum Merit Financial Assistance Scheme that aims to provide financial assistance to meritorious, needy and deserving students belonging to economically weaker sections. NIFTians, who are eligible to avail the benefit of this financial assistance scheme, can check its relevance, eligibility criteria, documents to be submitted, scrutiny procedure, schedule and other important details in this article.     

 

Applicability of NIFT Means cum Merit Financial Assistance Scheme:

  • This scheme will be applicable to all the regular students of NIFT who fulfil the prescribed criteria. The benefits of this scheme shall not extend to NRI/NRI sponsored students.

  • The scheme will cover all eligible students, provided their numbers are within 25 per cent of the overall student strength of all the NIFT campuses as a collective.

Rate of financial assistance

Under NIFT Means cum Merit Financial Assistance Scheme, financial assistance to undergraduate students shall be provided as follows:

Category

Parental income ceiling per annum

Percentage of financial

assistance

A

Upto Rs. 1 lakh

75 per cent of the tuition fee

B

Above Rs. 1 lakh to Rs. 2.5 lakhs

50 per cent of the tuition fee

C

Above Rs. 2.5 lakhs to Rs. 4.0 lakhs

25 per cent of the tuition fee

Eligibility criteria for application:

Students fulfilling the following criteria can apply for financial assistance under this scheme -

  • Undergraduate and postgraduate students of the regular programmes of NIFT excluding those admitted under NRI/NRI sponsored category.

  • Those fulfilling the prescribed criteria of parental income slab.

  • All the eligible first year students may apply irrespective of their ranks and marks in the NIFT entrance exam.

  • Minimum average 6.00 SGPA in the last two consecutive semesters will be a necessary condition for continuation of the financial assistance to the students in second, third and fourth year of undergraduate level and second year of postgraduate level.

  • The students will be required to submit their application for continuation of financial assistance in the next year along with all the documents in the beginning of the semester i.e. before the end of previous semester. This will be decided by the Centre before the fee is collected for the semester from the students.

  • The student should not have failed in any semester in the previous years of study, and must have cleared all the subjects of the previous semesters. Relaxation may be sought from the competent authority in case a student has repeated the semester due to health reasons.

  • A student involved in any major or minor disciplinary violation will not be eligible for subsidy during the remaining duration of his/her course at the institute.

  • Only those applications will be considered which are completed and supported by the prescribed mandatory as well as applicable documents.

  • Students will have to submit an undertaking with the application form to the effect that the scholarship may be withdrawn and penalty imposed if the documents submitted as income proof are found to be false after verification.

  • The students getting any other financial assistance/reimbursement towards expenditure on education from any other source viz Central/State Government/PSU/Trusts/private persons, etc. are not eligible to apply for the financial assistance scheme.

  • If the number of students goes beyond 25 per cent of the overall student strength of the NIFT campuses, the financial assistance will be given on the basis of prioritisation of the students. In case of prioritisation, students whose parental income is the lowest will get priority.

Documents to be submitted for NIFT Means cum Merit Financial Assistance Scheme

The students are required to submit compulsory as well as applicable documents along with the application form. These are as follows -

 

Mandatory Documents -

i. One copy of passport size photograph with signature

ii. Income declaration-affidavit on non-judicial stamp paper of Rs.10 (Rupees ten) by each parent

iii. Proof of permanent residence

iv. Photocopies of passport and PAN card of parents/guardian and applicant

v. School leaving certificate for class X and XII (proof of school fee, wherever

possible)

vi. Copy of receipt of tuition fee paid for the current semester i.e. July –

December

vii. Schedule duly signed by parent with relevant revenue record

viii. Bank statements for the last 12 months for all the accounts mentioned in

schedule

 

Copy of Following Documents (If applicable) -

i. 3 year’s income tax returns copy/Form 16 for salaried/16 A for business

owners

ii. Vehicle registration copy

iii. Tehsildar certificate of agriculture land along with certified revenue records

such as khasra, khatouni

iv. Documents related to others scholarship/sponsorship receipt

v. Document related to SC/ST/OBC/PHP certificate

 

Scrutiny Procedure of NIFT Means cum Merit Financial Assistance Scheme

There are two levels of scrutiny for the applications - 

i. The first level committee is a scrutiny committee of three members, and

is constituted by the Centre Director. It has at least one faculty member.

ii. First level entails desk scrutiny of application forms and proposing eligibility on the basis of total income of both the parents from all the sources and other income such as agricultural, business, rent etc. It also closely examines whether all relevant information and documents are completed with the application forms. All incomplete forms are recorded by the Scrutiny Committee, and these are put separately after approval of the Centre Director.

iii. Second level includes interaction of the student with the screening committee comprising following members:

a) Registrar

b) Deputy Registrar (finance & accounts)

c) Course Coordinator of the course (to which student has applied)

d) One senior faculty member nominated by the Director

e) Student development activity coordinator

 

Schedule

Tentative schedule for the first sanction is as follows -

S.No.

Activity

Timeline (2017)

1.

Announcement of scheme and issue of application form

Last week of July

2.

Last date for submission of completed forms

Last week of August

3.

Scrutiny of forms: meeting of scrutiny committee

Second week of September

4.

Meeting of screening committee

Third week of

September

5.

Approval by the Centre Director

Fourth week of September

6.

Reimbursement of fee after adjusting financial assistance

First week of October

7.

Appeal

Second week of October

8.

Communicate decision and disbursal to any remaining eligible candidates

Fourth week of October

9.

Sending consolidated information to head office

By mid November

Tentative schedule for the sanction in second, third and fourth year is as follows -

S.No.

Activity

Timeline (2017)

1.

Last date for submission of application forms along with documents

Last week of April

2.

Scrutiny of forms

Last week of May

3.

Meeting of screening committee

Mid June

4.

Approval by the Centre Director

Mid July

5.

Appeal

 

Third week of August

6.

Sending consolidated information to the head office

Mid November

 

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Also Read:

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Stay tuned to design.careers360.com for more Design Internship Experiences.

First Published On : 24 Aug 2017 04:03 PM IST
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Nancy Johri

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