Essential Details on ‘NIFT Means – Cum - Merit Financial Assistance Scheme’

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National Institute of Fashion Technology (NIFT) offers Means – Cum - Merit Financial Assistance Scheme to all those meritorious students who fall under weaker sections of society. Both full time graduate and post graduate students studying in NIFT centers can apply for this scheme provided they do not have any backlog papers at the time of application. The percentage of financial assistance provided to both graduate and post graduate students will differ and will be based on the specific category of financial income per annum.

Overview on NIFT Means – Cum - Merit Financial Assistance Scheme

The primary objective behind this scheme is to offer financial assistance to those meritorious and deserving students who generally come under the economically weaker sections of the society. The applicability of this scheme will be specifically for all the regular students in NIFT.

Eligibility Criteria for NIFT Means – Cum - Merit Financial Assistance Scheme

  • All those regular students who are studying undergraduate and post graduate level programs in NIFT are eligible.
  • Candidates who attained admission for any courses in NIFT under NRI/ NRI sponsored category cannot apply.
  • Students who are studying first year of graduate or post graduate courses can apply irrespective of their marks percentage obtained in the entrance examination. It is compulsory for students to obtain a minimum of 6.0 CGPA in the final 2 consecutive semesters, to get continued financial assistance towards further years of undergraduate and post graduate course levels.
  • Students should not have any active backlog or supplementary papers in the previous semesters or study years while submitting application for NIFT Means cum merit financial assistance scheme. On the other hand, relaxation will be given to those students who have supplementary papers in any semesters due to specific health reasons.
  • The decision on the eligibility of post graduate students for NIFT financial assistance scheme is done by the Screening Committee, in cases where the students are not in a position to provide collateral for bank loans or their parental income fall within the specified slab limits.
  • Students who currently get involved in any disciplinary action during their course study tenure in NIFT will not be considered under this scheme.

Benefits under NIFT Means – Cum - Merit Financial Assistance Scheme

For Undergraduate students

Category A — Parental Income per annum - Up to 1.0 Lakhs

  • Percentage of Financial Assistance - 75% of the Tuition Fee

Category B — Parental Income per annum - Above 1.0 Lakhs - 2.5 Lakhs

  • Percentage of Financial Assistance - 50% of the Tuition Fee

Category C — Parental Income per annum - Above 2.5 Lakhs – 4.0 Lakhs

  • Percentage of Financial Assistance - 25% of the Tuition Fee

For Post graduate students

Category A — Parental Income per annum - Up to 1.0 Lakhs

  • Percentage of Financial Assistance - 50% of the Tuition Fee

Category B — Parental Income per annum - Up to 1.0 – 2.5 Lakhs

  • Percentage of Financial Assistance – 25% of the Tuition Fee

In case, more than 25% students at NIFT centers have applied for this scheme, financial assistance will be sanctioned on the basis of student’s prioritization.


 
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