The objective of the Financial Aid Policy at IIMB is to ensure that no student is deprived of education at the institute for financial reasons.
All PGPBA students with annual household income below INR 6,00,000 are eligible to apply for financial aid. Other students, with severe financial difficulties arising from sudden unforeseen circumstances, are also considered.
The Financial Aid Committee undertakes a two-step process for deciding the number of awardees and quantum of aid. In the first stage, the students are given a financial status score based on four criteria – Annual Gross Household Income (including income of the student if employed before joining IIMB and outstanding loans if any, provided they were not taken for conspicuous consumption), Household Savings, Real Estate Assets, and Other Assets. Based on this score, some of the students are called for a personal interaction with a faculty panel. During these interactions, the panel evaluates the financial need of the student, as well as establishes the genuineness of the details provided by the student in the application, and assigns a financial need score. Based on the weighted average of these two scores, applicants are provided 100%, 80%, 60%, 40% or 20% financial aid.