The Financial Aid is available to students at entry-level, i.e. while applying for admission to a programme under any of the SVU institutes. While admission to a programme is based on academics, extra-curricular activities and other criteria as prescribed, Financial Aid is assessed entirely on the basis of the financial standing and need of the student /student’s family. Aid will be applicable to the entire course duration.

Eligibility

Financial Aid is available for applicants’ seeking admission into any under-graduate and postgraduate programme offered by SVU. To be eligible for financial aid, applicants need to fulfill any one of the following criteria.

• EWS/BPL: Applicants with family income up to ₹8,00,000 are eligible for financial Aid up to 100% concession on the tuition fees.
• PWD: Applicants with benchmark disabilities (40% or more) are eligible for a 50% concession on the tuition fees.
• Defence Personnel: Wards of defence personnel disabled or deceased in the line of duty may receive a 50% concession on the tuition fees.

Selection Process

The selection process will follow the below mentioned procedure:

• Submission: The financial aid application is part of the course application on somaiya.edu. Applicants must indicate their interest in financial aid, and if selected, they will be asked to upload the required documents.
• Screening: All submitted applications will be reviewed and screened based on the eligibility criteria.
• Evaluation: Applicants found eligible after the screening, will go through an interview round Scrutiny/ verification of documents will be done as per the requirements

Documents Required

All documents are required compulsory.

• Income certificate and EWS certificate (If applying under the Economically Weaker Section (EWS) category).
• Income Tax Return (ITR) of last three financial years of both parents. If the mother is not working Nil return is required or provide the bank statement for the last six months of mother.
• Bank Statements: Last six months' bank statements of all earning family members (parents and elder siblings).
• Address Proof: (Ration card & Recent electricity bill of residence of last three months)
• Identity Proof: (Aadhar card copies of all earning members)
• Educational Documents: Mark sheets from all previous boards. Entrance exam scorecard (if applying for Engineering or MBA).
• Employment Proof: For salaried individuals: Appointment letter OR salary slip OR offer letter.
• For self-employed individuals: GST certificate OR business-related legal documents.
• Death Certificate (parent or guardians, If applicable)
• Statement of Purpose letter to the financial aid team.
• Self-Declaration: A signed declaration by the applicant

Awards

• Financial aid can cover up to 100% of tuition fees based on financial need and merit.
• An official award letter is sent to the student within two days of the interview, outlining the terms.
• Students must accept the offer within 5 days from the date of offer received, or the offer becomes void.
• Financial aid will be continued for subsequent years of the applicant's course, provided they meet the required academic and attendance criteria.
• Students awarded financial aid are not eligible to apply for other Somaiya Vidyavihar University scholarships or aid during the same academic year.
• The decision of the Financial Aid Panel is final and binding.