bdbangurendowment.com Education Scholarship : Nirmaan Trust West Bengal

Organization : Nirmaan Trust
Facility :Education Scholarship

Home Page :https://www.bdbangurendowment.com/

Education Scholarship :
There is no greater joy than witnessing individuals from a variety of background and communities fostering their learning experience. With its local and global focus on education, the Endowment is committed to supporting Indian Nationals who wish to pursue higher studies and become professionally qualified individuals.

DURATION :
**** The duration of the Endowment’s loans depends on whether the applicant is in one of the IITs / IIMs or has admission to an institution abroad. In the former case, loans are for a maximum of four years. If the student has admission in a foreign institution, the maximum period of the loan is two years. The Endowment may also consider assistance to candidates for Doctoral studies, as well as those pursuing local certificate and diploma courses in fields such as Photography, Journalism, Health, Sports & Fitness, etc.
**** Specific approval of the Trust should be obtained to extend studies exceeding that period.

VALUE :
The maximum amount of loan scholarship will be Rs.1,00,000/-. The sum provided would be sufficient to enable a candidate to meet initial travel and term expenses. Thereafter the candidate will be expected to raise funds from other sources, such as University Scholarship, Fellowship, teaching assistanceship or campus jobs.

ELIGIBILITY :
Applicants for the Endowment’s loan scholarships must meet the following eligibility criteria :
*** They must be Indian Nationals under 35 years.
*** They should be able to establish genuine financial need.
*** If they are in the normal academic disciplines, they should be graduates with a consistent academic record of distinction from an Indian university of recognized standing. Those in the final year of a Degree course would also be eligible. However, selection will be conditional on good performance in the Final Degree examination. In exceptional cases, loan scholarships may be given for undergraduate studies if the course, deemed otherwise appropriate to the Endowment’s objective, is not available in India.
*** They should be able to communicate fluently in English.
*** At the time of applying for the loan scholarship, they should have applied for admission to a University.

In addition, the following additional aspects will be condsidered :
*** Whether candidates are able to describe thoughtful and coherent educational and career plans. Preference will be given to people who intend studying subjects of developmental relevance.
*** Whether candidates have a record of extra-curricular interests and achievements.
*** Whether candidates can demonstrate the potential to achieve their goals in a foreign academic environment.

TERMS :
The selected candidate is required to sign an agreement, the terms and conditions of which may include all or any of the following :
*** The candidate will undertake to commence his studies from within 2 months from availing loan and pursue the same continuously with due diligence.
*** The candidate will undertake to immediately inform the Trust in writing about completion of his studies.
*** On securing employment, the candidate will immediately inform the Trust in writing and will furnish all details of employment to the Trust such as-
Name of the employer
Date of joining
Designation
Monthly remuneration
*** The Endowment holds the right to recall the loan amount at any time if the candidate does not abide by any of the above conditions, changes his course without prior approval of the Trust or if the performance is unsatisfactory and is found guilty of misconduct or changes his nationality or acquires foreign citizenship or continues to stay abroad without written permission of the Trust after the time specified. If the scholarship is cancelled the entire amount of the said debt shall become immediately payable and the candidate shall forthwith repay the same notwithstanding the other terms and conditions applicable to the candidate.

Insurance :
*** The candidate will be required to take out a 20 year Money Back Policy on his life for a sum equivalent to the total scholarship amount plus 10%.
*** This Policy will be assigned by the candidate in favour of the Trust.
*** All arrangements regarding the said policy will be made by the office of the Trust.
*** The 1st year’s premium is to be deposited with the Trust/ paid to LIC prior to availment of loan scholarship.
*** The candidate shall obtain a guarantee (person holding I Tax PAN Card) acceptable to the Trust for the due and regular payment of premium and repayment of loan amount to become payable in respect of the said policy. The Guarantor should give a letter stating his willingness to stand as Guarantor, to see that the Policy premiums are paid by him and Policy is kept in force. The Guarantor’s monthly income should not be less than Rs.10000/- and his latest Salary Certificate or latest Income Tax Assessment Order will have to be furnished in proof thereof.
** Only on receipt of the duly assigned insurance in favour of the Trust as stated above, will the candidate receive payment of the loan scholarship amount. Further, he will have to furnish the following documents without which cheque for the loan scholarship will not be given :
** Xerox copy pf letter regarding availability of foreign exchange.
** Xerox copy of first page of the Passport as well as the page containing visa endorsement.
** Passport size photo with signature of the candidate.
** A certified copy of Admission letter from the University.
** Certified copies of letters from other Trusts who have granted him scholarships.
** Acknowledgement / Receipt of cheque.

APPLICATION :
Advertisements are placed in the leading newspapers and relevant magazines inviting applications for a particular year. Request for application forms should be sent to the office of Endowment at Kolkata along with
*** Bio-data outlining academic background including subjects offered and Class obtained in each final examination.
*** Evidence of admission (if available).
*** Proof of date of birth (copy).
*** Details of available financial support.
*** Score sheets of the Qualifying Examinations like GRE, GMAT, TOEFL, etc. (copy)
*** A Postal Order of Rs.50/- towards cost of brochure, application form and courier charges.
The candidate is required to answer all questions in detail. No columns should be left blank. Letters from referees, with their name & address should be enclosed.

The Application Form will have to be signed by :
*** The candidate.
*** Candidate’s father/mother/guardian.
*** The person who will guarantee the regular payment of the insurance premium and repayment of the loan.
*** The Application Form must reach the office of the Endowment on or before the specified date.
The selected candidates will be called for an interview at Kolkata/Mumbai before the Selection Committee. Candidates selected for final interview from places outside Kolkata/Mumbai beyond 500 kms and upto 750 kms will be paid lumpsum amount of Rs.500/- and from places beyond 750 kms will be paid a lumpsum amount of Rs.1,000/- towards travel and sundry expenses. The decision of the Trustees would be based on the recommendations made by the Selection Committee. These recommendations are made on the basis of merit but character, aptitude and ambition of each candidate would also be the guiding factors. However, the decision of the Trustees shall be final in every respect and no further correspondence shall be entertained.

PAYMENT :
It is the moral responsibility of every candidate availing the loan to ensure that the repayments are made on time, as to facilitate the Endowment to continue helping many more deserving candidates year after year.
** Immediately after securing employment or six months after completion of studies, whichever is earlier, the candidate will be required to repay the Scholarship Loan amount advanced to him in eight equal quarterly instalments. It is however expected that the student would endeavor to repay the same within a period of one year.
** In case of default in repayment on due date or non-compliance of any of the terms and conditions of availment of the Loan Scholarship, the entire amount of the debt shall become payable immediately along with interest at the rate of 10% (ten percent) per annum calculated from the date of availment.
** The insurance policy would be reassigned in favour of the student, after the loan amount has been fully repaid.