Vipra Foundation Scholars Programme : viprafoundation.in

Organization : Vipra Foundation
Scholarship Name : Vipra Scholars Programme
Applicable For : Students who has secured minimum 60% marks in both Class X and XII

Website : http://viprafoundation.in/
Application Form : https://www.scholarships.net.in/uploads/12166-scholar.pdf

Vipra Scholars Programme:

To build a strong and enlightened society higher education and especially professional education has always played a dominant role. Education provides a competitive edge and scope for overall development of an individual, towards this endeavour Vipra Foundation , in its commitment to nation building introduces a Higher Education Loan Scheme for young and bright VIPRA SCHOLARS who want to pursue Higher Education and Professional Courses.

Related / Similar Scholarship :
DLF Foundation Choudhary Raghuvendra Singh Scholarship

Under this Scheme it is proposed to award Interest Free Loan to VIPRA SCHOLARS whose parents’/ guardian’s income is not more than Rs. 3,00,000/- per annum.

Objective of the Scheme:
a). To recognize talent and promote studies in professional education .
b). To reward young and VIPRA SCHOLARS for pursuing any Higher and Professional Courses.

Eligibility Criterion / Who can Apply:
For the Higher and Professional Course any young and bright VIPRA SCHOLAR not more than 30 years and who has secured minimum 60% marks in both Class X and XII and whose parents’/guardian’s income is not more than Rs. 3,00,000/- per annum is eligible to apply for the Higher Education Loan scheme.

Procedure for selection of awardees for the Scheme:
Based on the applications received satisfying the eligibility criteria the applications would be scrutinized by the Committee appointed by the Apex Body for this purpose. Based on the Merit cum Income, the awardees for the Loans would be selected giving priority to those having lowest Income and Highest Marks in the past qualifying Examination. Right to accept or reject any application is reserved with VIPRA FOUNDATION.

Financial assistance:
a) The VIPRA FOUNDATION will provide financial assistance in the form of loans to the Students pursuing Higher and Professional Course by reimbursing partially or fully the amount spent/ required (Boarding and Lodging is not included) by the student while pursuing Higher and Professional Course. An undertaking would have to be signed and furnished along with application Form.

b) The student is required to submit a Utilization Certificate to the VIPRA FOUNDATION within three months from the date of the receipt of Cheque from time to time. The Maximum Loan assistance per student can’t be more than Rs. 50,000/- in any circumstance subject to his performance in the previous year, for which he will have to submit the Mark Sheet/document.

c) For higher amounts ,a scholar may have an exposure directly from Bank and VIPRA FOUNDATION will reimburse the interest to scholar subject to maximum of a particular tenure of 3 years and total interest amount not exceeding Rs 50,000/- (fifty thousand only). Needless to mention that reimbursement will be done to the scholar once she/he submits a documentary proof of interest payment to the bank on quarterly basis or higher interval.

Repayment of Loans:
The Loan amount should be repaid after completion of the relevant course at the earliest with a grace period of 6 months .After that at least 40% or more of the loan amount should be repaid in the first year and the remaining in the second year.

However if the repayment is not completed by the end of 30 months of completion of the education , an interest @ 12% from the date of degree / completion date of education shall be levied on balance amount. Early repayment shall always be appreciated.

7. Higher and Professional Education Includes:
a) A Business Management Qualification (Only for IIMs / XLRI or any other management college of international or national repute)
b) Chartered Accountant / CWA / CS qualification (After Intermediate level, by whatever name it is called)
c) An Engineering Degree (Only for IITs / NITs / IISCs or any other engineering college of international or national repute)
d) An MBBS or PG in medicine
e) An LL.B. / LL. M. Qualification (Only for NLUs or any other Law college of international or national repute)
f) Preparation for Civil Services state as well as union (Only for those candidates who had successfully completed preliminary qualification ).
The VIPRA FOUNDATION reserves a right to include any other qualification or to give relaxation in the above list.

8. Documents Required :
The young and bright VIPRA SCHOLARS who are pursuing higher education and Professional Courses are required to submit the documents as prescribed in the Application Form.

9.Credibility of Documents/Information: Any wrong document/Information if submitted with application would attract cancellation of application / loans or in case of any loan amount already paid would be recoverable from the date of advancing such loan amount with a penal interest @ 18% per annum.

10. Committee:
A five members committee constituted by the Apex Council of the VIPRA FOUNDATION shall look after the above programme.